XRP Secures $1B AUM Milestone, Sets ETF Speed Record In The US

XRP has entered a compression zone amid rising institutional demand and stagnant price action, with recent ETF inflows exceeding $756 million over 11 days, indicating a potential trend reversal. This situation has traders speculating on a significant price movement ahead.

A prominent crypto investor has made headlines by selling all of his Bitcoin holdings, which he initially purchased at $3,000, to invest entirely in XRP. This decision comes amid a turbulent market where Bitcoin's price has dropped significantly, while XRP is also facing a downturn, with recent reports indicating a negative shift in social sentiment towards the token.

21Shares has submitted its fifth amendment to the S-1 filing for its XRP exchange-traded fund (ETF), indicating progress towards a potential launch this week. This amendment reflects ongoing efforts to meet regulatory requirements and market expectations for the ETF.

The latest Digital Asset Fund Flows Weekly Report from CoinShares indicates a significant shift in institutional investment from Ethereum to XRP, with Ethereum's inflows lagging behind other major cryptocurrencies despite an overall positive sentiment in the crypto market.

XRP has underperformed in the cryptocurrency market as a sudden surge in Bitcoin led to $387 million in liquidations. The token's technical outlook remains uncertain, with support at $2.05 and resistance at $2.17, prompting traders to monitor for volume expansion.

Bitwise's crypto index fund has transitioned from over-the-counter markets to NYSE Arca for trading, signifying a significant move towards integrating diversified digital asset products into regulated exchanges. This shift is expected to enhance the visibility and accessibility of cryptocurrency investments for a broader audience.

XRP has seen record-breaking inflows into its exchange-traded funds (ETFs), with a significant surge in institutional interest, despite the cryptocurrency's price remaining stable between $2 and $2.12. This trend indicates a growing appetite for XRP among both retail and institutional investors, as the market gradually turns bullish.

The SEC has approved the Bitwise 10 Crypto Index Fund, which is now trading on NYSE Arca, marking the second cryptocurrency index exchange-traded product (ETP) in the U.S. This fund allows investors to gain exposure to a diversified portfolio of major cryptocurrencies, including Bitcoin, Ethereum, and XRP.