XRP Price Surges 18% to Three-Month High on Institutional Demand
XRP's price surge has continued, reaching a three-month high of $1.34 after reclaiming the $1 mark just three days prior. The altcoin has seen successive higher closes and flipped $1.30 into support, with its trading volume rising 125% to over $8 billion.
The increased trading activity has been accompanied by fresh institutional demand for XRP, with spot ETFs recording $13.24 million in net inflows, lifting total net assets to $1.5 billion. According to BankXRP, Bitwise and Franklin led the demand, which has not been seen since late June.
Meanwhile, RippleX announced that Cicada Credit and Clearpool would be building institutional credit infrastructure on the XRPL Lending Protocol, potentially expanding XRPL's utility for fintech and payment firms. This development could further boost XRP's price, as it attracts institutions through regulated market exposure and blockchain-based credit.