XRP, the token linked to Ripple, is showing identical inflows of $10.6 million over two weeks, drawing investor interest amid the broader cryptocurrency market rise.
Stability of XRP Inflows Amid Market Growth
According to CoinShares, XRP has become one of the few assets to demonstrate stable inflows. Total digital asset investments amounted to $1.04 billion last week. Bitcoin led with $790 million, followed by Ethereum at $226 million. Despite the smaller amount, the steady inflow of $10.6 million into XRP has caught attention due to its consistency.
Ripple Applies for Banking License
Ripple is actively expanding its operations in the U.S. by applying for a national banking license with the Office of the Comptroller of the Currency. This move is part of the preparation for the launch of its new stablecoin, RLUSD. Standard Custody & Trust, affiliated with Ripple, is also seeking access to the Federal Reserve master account.
Institutional Interest and XRP Forecasts
Analysts note the lack of fluctuations in XRP inflows, which may indicate growing institutional interest and confidence in Ripple and its directions. Expectations of potential approval for XRP-based funds are also boosting interest in the token.
As Ripple navigates regulatory hurdles, the steady inflows of XRP might indicate increasing investor confidence in the company's future and its products.
