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XRP Institutional Inflows Hit $145.8 Million in Seven Days: Report
The post XRP Institutional Inflows Hit $145.8 Million in Seven Days: Report appeared on BitcoinEthereumNews.com. Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Despite the broad-based consolidation of the crypto market last week, XRP has seen significant interest from institutional investors. According to the latest report from CoinShares, XRP saw a $145.8 million inflow from corporate buyers in the trailing seven-day period. This inflow comes as a major dip acquisition for XRP as the price touched a low of $1.93. XRP and its adoption in relation to rivals The attractiveness of XRP to institutional investors correlates with that of Bitcoin (BTC) and other top altcoins. While XRP scored over $145 million in net flows, Bitcoin recorded a capital injection of $2 billion. Related Ethereum, on the other hand, achieved over $1 billion in inflows, with Solana seeing just $1.7 million within the same period. XRP extends its lead over other altcoins besides Ethereum, with its $280 million inflow in the past month. The reason for XRP’s attractiveness is multi-faceted. Last week, Ripple Labs Inc. revealed that it has secured approval to launch RLUSD from the New York Department of Financial Services (NYDFS). This major update spelled a bad omen for XRP’s growth through deep liquidity provision. The RLUSD stablecoin is poised to complement XRP in trading and payment platforms, boosting the coin’s overall utility. The crypto industry saw a cumulative inflow of $3.231 billion last week. XRP ETF influence Institutions are also likely…
The post XRP Institutional Inflows Hit $145.8 Million in Seven Days: Report appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Despite the broad-based consolidation of the crypto market last week, XRP has seen significant interest from institutional investors. According to the latest report from CoinShares, XRP saw a $145.8 million inflow from corporate buyers in the trailing seven-day period. This inflow comes as a major dip acquisition for XRP as the price touched a low of $1.93. XRP and its adoption in relation to rivals The attractiveness of XRP to institutional investors correlates with that of Bitcoin (BTC) and other top altcoins. While XRP scored over $145 million in net flows, Bitcoin recorded a capital injection of $2 billion. Related Ethereum, on the other hand, achieved over $1 billion in inflows, with Solana seeing just $1.7 million within the same period. XRP extends its lead over other altcoins besides Ethereum, with its $280 million inflow in the past month. The reason for XRP’s attractiveness is multi-faceted. Last week, Ripple Labs Inc. revealed that it has secured approval to launch RLUSD from the New York Department of Financial Services (NYDFS). This major update spelled a bad omen for XRP’s growth through deep liquidity provision. The RLUSD stablecoin is poised to complement XRP in trading and payment platforms, boosting the coin’s overall utility. The crypto industry saw a cumulative inflow of $3.231 billion last week. XRP ETF influence Institutions are also likely…
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