XRP Soars with 244% Fund Inflow Surge Amid ETF Speculation

XRP has dominated the cryptocurrency investment landscape, experiencing an unprecedented 244% surge in fund inflows. 

Data from CoinShares reveals an influx of $2.2 million into XRP-related products, marking a substantial leap from the previous week’s $900,000. The surge seems to aling with the growing speculation that XRP might secure the next ETF after Bitcoin. 

BlackRock CEO Larry Fink intrigued the market with his recent interview on FBN. His cryptic response “I can’t talk about that!” when asked about the probability of XRP ETFs fueled market speculations. 

XRP’s surge in fund inflows solidifies its position as the second-best performer among altcoins in 2024, trailing only behind Cardano (ADA). 

Bullish Sentiments

XRP ETPs have amassed an impressive $3.1 million in inflows, underlining its popularity among investors. XRp’s latest trend in its momentum suggests a pivotal moment, supported by growing confidence in its potential entry into the ETF market.

On-chain analytics platform Santiment notes a notable bullish shift towards XRP and Bitcoin. Following Bitcoin’s historic ETF approval, the market is filled with optimism about other cryptocurrency ETFs like Ethereum and XRP. 

Santiment highlights a rise in XRP sentiment and discussion rates to the highest level since May 2023, coinciding with discussions about the possibility of an XRP ETF.

The explosive surge in XRP’s fund inflows, coupled with heightened ETF speculation, positions it at the centre of attention. XRP’s newfound legal clarity, along with the Ripple case and Larry Fink’s suspicious remarks contribute to a wild narrative, for both crypto enthusiasts and traditional investors.