XRP Surges on SBI Holdings' $41.2 Billion Stake Valuation

XRP has experienced a price surge after SBI Holdings valued its stake in Ripple at $41.2 billion, according to data from Sosovalue exchange.

The token's price movement is now green, suggesting a potential bullish run, as it climbs by 36 basis points to $1.0651 over the last hour, amidst a sharp reduction in trading volume.

Institutional interest in XRP has been increasing, with about $8 million exchange-traded fund (ETF) inflows on July 31, making it one of the top digital assets with the highest average transaction value among major cryptocurrencies.