There was a big change in the cryptocurrency investment landscape this week. Overall, investors became less optimistic, to put it mildly, resulting in a $528 million outflow from digital asset exchange-traded products (ETPs).
On the other hand, XRP-focused investment products stood out as a notable exception, attracting $400,000 in new capital, according to CoinShares. This is another week in a row that XRP has seen inflows, showing that more and more investors are interested in the digital asset. Since the beginning of the year, XRP ETPs have attracted a total of $21 million in investment.
Gamza Khanzadaev
Ripple v. SEC
The renewed investor interest in XRP comes at the same time as the ongoing legal battle between Ripple and the SEC. Many market watchers have said that the current inflow trend is similar to what happened before the big court ruling in favor of XRP last year.
Before the ruling, there was a continuous rise in investment into XRP ETPs, which is similar to what we are seeing now. After the good news came through, XRP shot up 100% in a single day.
Dan BurginThere is no guarantee of a similar spike, but the current influx of capital into XRP ETPs suggests that some investors are positioning themselves for a potential positive outcome in the Ripple case. If there is a quick resolution, especially one that goes Ripple's way, it could be the start of another big rally in XRP.
Arman Shirinyan
Alex Dovbnya
U.Today Editorial Team
Vladislav Sopov
Dan Burgin