Crypto
XRP Price Surges on Institutional Buying and On-Chain Growth
XRP's price surged 28.5% in August to $1.70, its strongest performance in five years.
The increase was driven by institutional capital, with XRP-focused spot ETFs attracting $153.55 million in the month.
Ripple's stablecoin RLUSD surpassed $2.32 billion in market capitalization and became the leading stablecoin on the XRPL ecosystem.
On-chain metrics also showed significant growth, with payment volume increasing 521% within a single week in late August.