XRP Sees Surge in Demand as Price Rallies 60%

The cryptocurrency market has seen a resurgence in demand for XRP, particularly through exchange-traded funds (ETFs). The past week saw XRP's price increase by nearly 60% and its ETF market post its best weekly performance since May.

According to data from SosoValue, XRP ETFs attracted $39.78 million in net inflows last week, marking a significant recovery from multiple weeks of muted demand. The largest share of fresh capital flowed into XRP ETFs on August 21st, when the asset's price rallied by over 20% within a 24-hour period.

Bitwise, a prominent institutional investor in XRP, led all XRP funds on positive trading days and continues to buy XRP. The Bitwise XRP ETF now boasts $443.46 million in net assets.