XRP Price Breakout Imminent as ETF Inflows Surge Ahead of v3.3.0 Upgrade
XRP's price is on the verge of breaking out as exchange-traded fund (ETF) inflows surge ahead of the v3.3.0 upgrade to the XRP Ledger network.
The Ripple-linked token has traded in a tight range over the past two months, but this period of consolidation may be coming to an end.
American investors continued their ETF accumulation this week, with SoSoValue data showing that they accumulated over $14.8 million in assets, bringing the monthly inflows to $27.29 million.
This brings the cumulative total to over $1.5 billion and puts XRP's total assets under management at $988 million.
The top ETFs holding XRP are Bitwise's XRP ETF with over $315 million in assets, followed by Franklin, Canary, 21Shares, and Grayscale funds with $254 million, $245 million, $115 million, and $58 million respectively.
This comes as investors wait for the upcoming v3.3.0 upgrade, which will introduce confidential multi-purpose tokens (MPT) that will bring privacy for tokenized assets using zero-knowledge proofs.
The upgrade also introduces batch transactions, sponsored fees and reserves, permission delegation, and dynamic MPTs.
XRP faces some challenges, including the potential delay of the CLARITY Act and the potential for Federal Reserve hikes.