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XRP Price Surges 56% Amid Institutional Demand Boost

Guavy AI Editorial Team
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BTC XRP
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XRP's price jumped 56% in one week to $1.48 due to increased institutional demand, driven by large whale accumulation and regulatory clarity.

According to Pluang, a significant portion of this demand comes from $13.24 million in ETF inflows into seven US spot XRP ETFs, which now hold a total of $1.44 billion. However, this represents only 1.9% of XRP's market cap, indicating room for growth compared to Bitcoin's ETF market.

The SEC-CFTC joint classification of XRP as a digital commodity has removed legal barriers for institutional investors and boosted demand. Ripple's upcoming Swell conference in September may further increase adoption and price.

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