XRP Consolidates After 72% Rally Amid Growing Institutional Demand

XRP has been consolidating around $1.44 to $1.48 after a nearly 72% rally, where it hit as high as $1.70 from around $1.00.

The fundamental backdrop remains constructive with Ripple's RLUSD trends in institutional adoption of the XRP Ledger and positive inflows towards Ripple's ETFs.

While some worry about profit taking, the growth of regulated institutional demand has been a key driver for XRP's recent gains.

Ripple's stablecoin business is also expanding, with RLUSD crossing above $2 billion in circulating supply and supporting reserves at $1.70 billion.

This has led to increased use of the XRPL network for payments, stablecoins, and tokenized assets, providing a wider opportunity compared to its initial purpose of facilitating cross-border payments.