XRP Sees Best August in Five Years as Institutional Buyers Drive Price Rise

Ripple's XRP token saw its best August in five years, rising 28.5% to $1.70 on August 28 before settling near $1.42.

The price increase was driven by institutional buyers, not retail traders, as spot XRP ETFs pulled in $153.55 million during August.

On-chain activity also hit record levels, with payment volume surging 521% in a single week in late August and daily active addresses reaching an all-time high of 1.34 million.