XRP Price Rebounds to $1.37 on BIS Proof of Concept and ETF Demand

XRP has been experiencing a price recovery after falling to near $1.31, rebounding to around $1.37 over the past 24 hours.

The Bank for International Settlements published a working paper on September 2 detailing a proof of concept using the XRP Ledger to test whether official statistical datasets could be verified through cryptography.

The experiment was conducted on XRPL Devnet and involved creating fingerprints of datasets and recording a summary value on the ledger, allowing users to check the identity of the publisher and determine if information had been changed after publication.

In addition to the BIS test, demand for XRP through US spot exchange-traded funds (ETFs) has continued, with the products recording their 11th consecutive trading session of net inflows on September 1, attracting another $14.38 million in investments.