A striking $38.04 million purchase of XRP in a single day has generated a wave of excitement across the crypto community. XRP Spot ETFs, including notable players such as XRPC, GXRP, and XRPZ, have seen significant inflows, indicating growing institutional interest in the cryptocurrency. This large-scale investment marks a pivotal moment for XRP as it gains traction among big investors and shows an upward trajectory in the market.
Leading the charge was the XRPC ETF, listed on NASDAQ Canary, which recorded a net inflow of $1.33 million, acquiring 639,000 XRP. The GXRP ETF from Grayscale, trading on the NYSE, also saw a significant increase, bringing in $810,000 in net inflows and purchasing 388,581 XRP. These figures reflect XRP’s increasing appeal and growing interest from institutional players.
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Cumulative net inflows across XRP-related ETFs have reached an impressive $935.39 million, signaling a shift in institutional sentiment toward XRP. The Bitwise XRP ETF further solidified this trend, with $4.20 million in net inflows and 2.04 million XRP bought. These figures reinforce the growing confidence in XRP’s potential, with institutional investors betting on its future.
Grayscale’s GXRP ETF continues to be a major player, with $212.16 million in cumulative net inflows. Meanwhile, Franklin’s XRPZ ETF posted $3.70 million in daily inflows, adding 1.51 million XRP to its portfolio, bringing its cumulative total to $166 million. This combination of large inflows shows XRP’s increasing presence in institutional portfolios and solidifies its place as a major asset in the digital space.
The massive inflow has sparked reactions within the crypto community. Kaya expressed optimism, stating Ripple is poised to challenge Swift and lead cross-border payments if regulators don’t interfere. Some XRP enthusiasts, or “XRP maxis,” humorously compared it to Bitcoin, with RaidArenaFun joking, “XRP is the next BTC.”
Additionally, @greenwhiteblack highlighted that institutional demand is growing, noting the impact of ETF inflows on XRP’s liquidity and price discovery, strengthening its position in the market.
With XRP’s market momentum gaining speed, many are now speculating on its potential to continue climbing, further asserting its dominance in the evolving landscape of digital assets.
Also Read: Bitcoin, Ethereum, and Other Major Cryptos See Moderate Declines Amid Market Fluctuations
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