XRP Price Stabilizes Amid Growing ETF Inflows and Ripple USD Adoption
XRP's price has been on edge recently due to market fluctuations. Despite this, the token has seen increased interest from investors in the form of ETF inflows and growth in Ripple USD ($RLUSD) adoption.
The $XRP ETF has experienced over $12.9 million in inflows on Wednesday, with most going into Bitwise's $XRP and Grayscale's GXRP funds. These cumulative inflows have reached over $1.7 billion, with net assets standing at $1.5 billion.
The total value locked (TVL) in the XRP Ledger network has increased to $41 million from last month's low of $29.5 million. Additionally, the amount of stablecoins in the ecosystem has risen to over $1.12 billion, driven by $RLUSD, which now holds over $2.4 billion in assets.
The daily chart shows a bullish flag pattern forming, indicating a potential strong breakout to $1.5484, about 15% above the current price. However, a drop below $1.3093 would invalidate this outlook.