The latest CoinShares report highlights renewed institutional interest in XRP, driven by hopes for the resolution of the Ripple vs SEC lawsuit.
Revival of Interest in XRP
The latest CoinShares report indicates a resurgence of institutional interest in XRP. Institutions have begun actively accumulating the asset after three weeks of relative stability. This renewed interest coincides with hopes for the conclusion of the legal battle between Ripple and the SEC.
Crypto Asset Inflows
Last week, crypto assets attracted $1.9 billion in inflows, marking the ninth consecutive week of positive inflows. This positive trend has increased the year-to-date inflow to $13.2 billion. Bitcoin investment funds are also recovering after previous sell-offs, reporting inflows of $1.3 billion.
Optimism in XRP Prices
XRP's price jumped over 3% in the past 24 hours, reaching $2.21. Trading volume rose by 22% in the same period, indicating increased trading interest. Analysts predict a possible upward momentum towards the $3 mark.
The current resurgence of institutional interest in XRP and overall market growth suggest a potentially positive trajectory for the cryptocurrency, historically influenced by legal disputes.
