XRP Surges 50% Amid Strong Institutional Demand for ETFs

XRP has seen a significant surge in price over the past week, rising by almost 50% to reach $1.45. This uptrend is largely attributed to the strong institutional demand for XRP-based exchange-traded funds (ETFs), which have recorded their highest weekly inflows since May.

The total net assets of these ETFs have reached $1.33 billion, with cumulative inflows since launch standing at $1.55 billion. This represents approximately 1.54% of XRP's total market value, indicating a growing market share for the product.

However, experts warn that XRP needs to defend its recent support levels in order to continue the momentum. A recovery above $1.50 could pave the way for further gains, with potential targets including $1.70 and $1.80. Nevertheless, a loss of $1.40 could lead to more losses, potentially pushing XRP back to $1.30 or even $1.20.