XRP Price Rebounds on BIS Test and ETF Inflows, Targets $1.52 Breakout
XRP has been making waves in the crypto market after a recent surge in price. Over the past 24 hours, XRP has risen by 1.5% to around $1.37, bouncing back from its low of $1.31.
This uptick can be attributed to two key factors: the Bank for International Settlements' (BIS) test of the XRP Ledger and continued exchange-traded fund (ETF) inflows.
The BIS researchers used XRPL to test whether official statistical datasets could be verified through cryptography. They created fingerprints of datasets and recorded a summary value on the ledger, allowing users to check the identity of the publisher and determine if information had been changed after publication.
Meanwhile, US spot XRP ETFs have seen 11 consecutive trading sessions of net inflows, attracting another $14.38 million on September 1st. Since their launch in November, these products have attracted around $1.68 billion in cumulative inflows.