XRP Sees Surge as Institutional Investors Flock

Bitwise CIO Matt Hougan has explained why financial advisors are buying Ripple's native token, XRP. He cited two main reasons: the asset's long-term track record and its practical applications in real-world markets. The comments come after an 80% increase in XRP ETF net assets during the third quarter, reaching a record $1.77 billion on September 25.

Hougan emphasized that financial advisors consider Ripple's background and history when evaluating crypto investments. They look for signs of persistence and longevity, which XRP has demonstrated through its long-standing presence in the market. He also noted that XRP 'fits into real-world applications' and is followed by advisors who track stablecoin developments and cross-currency liquidity.

The comments follow an 80% rise in XRP ETF net assets during the third quarter, reaching a record $1.77 billion on September 25. This growth has been sustained over 11 consecutive weeks of inflows, with Bitwise's fund leading the way at $677 million in cumulative inflows.

XRP's price has also seen an increase, trading around $1.50 as of writing, up about 2% in 24 hours and nearly 8% across the past month. However, it remains 47% lower than its year-ago price and 59% below its all-time high.