XRP ETF net inflows continue for 19 consecutive days.
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Cryptocurrency market analysis firm Santiment announced on the 14th that investor sentiment has clearly improved, with bullish comments on XRP outpacing bearish ones on major social media channels such as Telegram, Discord, Reddit, and X. Santiment analyzed that XRP recorded the seventh-highest proportion of bullish comments this year, with the price trading around $2.
According to CoinGecko, XRP has fluctuated between $1.99 and $2.17 over the past week, trading at around $2.03 as of the 14th. Despite a tight market between buyers and sellers centered around the $2 price range, optimism prevails.
Continued fund inflow into XRP spot ETF
Positive trends were also confirmed in the ETF market. According to SoSoValue, a cryptocurrency investment data platform, spot XRP exchange-traded funds (ETFs) recorded a net inflow of $20.1 million on the 13th, extending net inflows for the 19th consecutive trading day.
This brings the cumulative net inflow of the XRP ETF to approximately $974.5 million, and total assets under management to approximately $1.18 billion. The strongest inflow was $243 million on the 14th, and overall, stable inflows have continued.
“Wall Street money is not stopping buying,” Giannis Andreu, founder and CEO of cryptocurrency mining company Bitmern Mining, told X. “This is a typical accumulation phase that occurs before a typical narrative shift.”
Ripple's business expansion also provides momentum.
Positive corporate news surrounding Ripple is also supporting investor sentiment. On the 13th, Ripple announced that it, along with stablecoin issuer Circle, had received approval from the Office of the Comptroller of the Currency (OCC) to charter a national trust bank. On the same day, BitGo, Fidelity Digital Assets, and Paxos also received approval to convert their existing trust companies into federally chartered national trust banks.
In November, Ripple previously secured a $500 million investment round, valuing the company at approximately $40 billion. Citadel Securities and affiliates of Fortress Investment Group participated. Ripple has recently been actively expanding its business into stablecoins, payments, and financial management, and is also exploring the possibility of mergers and acquisitions.
There is analysis in the market that the positive momentum could continue until the end of the year due to the combination of improved social sentiment surrounding XRP, inflow of ETF funds, and Ripple's expansion into the institutional market.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
