The cryptocurrency XRP continues to gain popularity among investors due to the recent price increases in the cryptocurrency market and new initiatives from Ripple.
Expert Recommendations on XRP
Oscar Ramos, a crypto commentator, urges investors to consider XRP as a must-own asset. His remarks come as Bitcoin price surged to a new all-time high of $112,000, creating a wave of positive sentiment among altcoins.
CITE_W_A: "Investing in XRP should be a priority, especially now that the market is turning bullish again."
Ripple's Ecosystem Expansion
Ripple continues to expand its ecosystem by appointing BNY Mellon as the primary custodian for its stablecoin RLUSD. This partnership is aimed at boosting institutional trust and adoption. Additionally, Ripple is applying for a national banking charter and a Federal Reserve master account, signaling big ambitions for RLUSD.
Market Status of XRP and ETFs
The RLUSD stablecoin is already ranked as the 8th largest by market cap, using XRP for transaction fees, creating more demand for the token. July is expected to see the launch of several XRP-based ETFs, which could influence liquidity and attract new investors. The number of wallets holding at least 1 million XRP is nearing an all-time high at 2,742, indicating strong confidence among large holders.
Amidst rising market activity and Ripple's initiatives, XRP continues to attract investor interest. Expert recommendations may further drive interest in the token and its ecosystem.
