 ▲ Ripple (XRP) ©Coin Leaders |
Ripple's XRP, the 7th largest cryptocurrency by market capitalization, broke out of the $0.47 level in about 10 days.
Popular cryptocurrency XRP is trading at $0.4868 as of 10:39 p.m. on the 2nd (Korean time), up 1.30% from 24 hours ago based on CoinMarketCap. This is a drop of approximately 87.31% from the all-time high of $3.84 achieved on January 4, 2018.
Trading volume increased by 11.86% compared to 24 hours ago and currently stands at $825,094,309.
Coincodex, a leading on-chain indicator and price prediction company, paints a rosy picture for Ripple’s XRP in July 2024, according to Watchguru.
According to Coincodex's price forecast, XRP is expected to surge nearly 20% over the next five weeks. XRP could turn bullish and reach a high of $0.57 by the end of July 2024.
Meanwhile, according to a recent report by cryptocurrency asset management company CoinShares, investment inflows into XRP investment products are rapidly increasing.
According to the report, more than $300,000 in funds came in last week alone, bringing the total to $3.2 million since early June and $18 million since the beginning of the year.
UToday said, “Inflows into XRP investment products have been steadily increasing for several weeks, reflecting the positive attitude of investors in traditional financial markets. This trend could serve as a factor that increases the likelihood of launching an XRP ETF. ETFs on XRP “Increasing accessibility can increase investment attractiveness, and although regulatory issues and market conditions are key, the growing interest in XRP through ETP suggests demand for ETFs,” he said.
