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Crypto

XRP Grinds Higher on Institutional Demand Amid Macro Headwinds

Guavy AI Editorial Team
Instruments
XRP
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XRP's rally in August has slowed down, but institutional demand remains strong. The token is trading near $1.39 on Aug. 29, down about 2% over 24 hours from its recent peak of $1.45.

The surge earlier in the week was supported by stronger Korean trading activity and a run of positive U.S. ETF flows. Coinpaper's coverage showed that U.S. spot XRP ETFs attracted $77.47 million across six consecutive positive sessions through Aug. 25.

Large financial firms, such as Goldman Sachs, are also building exposure to XRP. The bank disclosed $86.5 million across five XRP ETFs in its second-quarter filing.

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