With an astonishing rise in inflows, XRP has confirmed its supremacy in the field of investment products based on cryptocurrencies, according to an eye-catching discovery from CoinShares. XRP’s value increased by a stunning $2.6 million just in the previous week, which will be a big milestone for the digital asset in 2023.
Its position as one of the top alternatives for investors is further cemented by the accumulation of positive year-to-date inflows totaling an astounding $10 million in XRP-focused investment products. Only Solana (SOL) and Bitcoin (BTC) have been able to outperform the popularity of the digital asset in this sphere. The cumulative flows into XRP ETPs during the previous 11 weeks, according to CoinShares, were an astounding $6.8 million.
The pivotal court ruling on July 13 classifying XRP a nonsecurity asset was a significant event that rocked the cryptocurrency industry to its very foundation and served as the catalyst for this phenomenal achievement. This legal confirmation sent shockwaves across the cryptocurrency market as well as the more conventional world of ETPs, of course.
Now, it appears that XRP has earned the steadfast faith of both conventional investors and regular crypto aficionados. Given the unprecedented inflows into XRP-focused financial products, this trust is unquestionable.
In addition, the emergence of major investors known as “whales,” who have individual balances of more than 100 million XRP, is evidence of this rising optimism. The latest research by Santiment, which was mentioned by U.Today, perfectly depicts the core of this pervasive mentality.
