XRP Surges Amid Growing Appetite for Crypto Assets
Ripple's XRP token is experiencing a price surge, trading at around $1.54 as of Friday. This increase in value follows a recovery from its weekly lows of $1.47, indicating a growing appetite for cryptocurrency assets. The shift in market sentiment is also attributed to the upcoming US Federal Reserve monetary decision later this month.
The Crypto Fear & Greed Index remains in 'Greed' territory, holding steady at 72. This persistent optimism suggests a significant shift in market sentiment, increasing the likelihood of sustained upside momentum.
US-listed XRP spot Exchange-Traded Funds (ETFs) recorded $4 million in inflows on Thursday, following muted activity on Wednesday and Tuesday. However, weekly inflows average $8 million, down from last week's $76 million.