XRP Price Rebounds to $1.37 Amid ETF Inflows and BIS Proof of Concept
XRP has experienced a moderate price recovery after rebounding from a low near $1.31 to around $1.37, driven by continued exchange-traded fund inflows and a proof of concept using the XRP Ledger published by the Bank for International Settlements (BIS).
The BIS researchers tested whether official statistical datasets could be verified through cryptography on XRPL Devnet as a proof of concept.
US spot XRP ETFs have recorded 11 consecutive trading sessions of net inflows, attracting $14.38 million on September 1, bringing cumulative inflows to approximately $1.68 billion since their launch in November.
XRP has returned to an important on-chain demand area between $1.31 and $1.38, where more than 4.8 billion XRP had been acquired previously, and the token recovered after briefly reaching the lower end of the range over the past 24 hours.