XRP Sees Record-Breaking Institutional Demand Amid Growing Stablecoin Success
Ripple's native token XRP has seen significant institutional interest lately, with inflows exceeding outflows by over $1.7 billion in cumulative total net inflow. This trend of strong demand from institutions is evident in the performance of spot XRP ETFs, which have registered eight consecutive green weeks.
The lineup of companies offering such products includes Bitwise, Franklin Templeton, Canary Capital, 21Shares, and Grayscale. T. Rowe Price has also updated its crypto ETF filing to allow exposure to multiple digital assets, with XRP holding a weight of 9.15%, dwarfing other cryptocurrencies like SOL (4.94%) and HYPE (1.60%). Bitcoin leads at 39.54%, followed by ETH (18.86%).
Ripple's dollar-pegged stablecoin RLUSD has gained significant traction, receiving approval from the Japanese Financial Services Agency to launch in Japan. The asset's market cap has grown to almost $2.5 billion, making it the 42nd-biggest cryptocurrency and the 9th-largest stablecoin.
The XRP Ledger recently fixed a critical bug affecting its Permission Delegation feature, known as XLS-75. This vulnerability could have enabled delegated players to perform actions beyond the permissions originally granted to them. The team addressed the issue before any cases of exploitation or loss of funds were reported.