XRP Experiences Significant Institutional Interest Ahead of SEC Decision
- XRP funds recorded strong inflows of $61.6 million this week, indicating ongoing institutional interest.
- Despite a recent market downturn, XRP saw total inflows of $219 million in the previous week.
- Canary Capital’s Steve McCurve estimates first-year inflows into XRP ETFs could reach between $3 to $5 billion.
- XRP’s price rebounded by over 10% in the last day, currently trading at $2.62 with a high of $2.64.
- The total XRP futures open interest rose by approximately 8% to $4.40 billion within the same period.
The anticipated approval of XRP ETFs by the U.S. Securities and Exchange Commission (SEC) is contributing to bullish sentiment among investors and traders alike, as reflected in the recent price rebound and significant inflows.
With a notable increase in trading volume and derivatives activity, XRP’s strong institutional interest is underscored by this week’s inflow figures of $61.6 million.(Source)
