XRP Surges to New High as Leverage Hits 7-Month Peak

XRP's price surged to $1.6963 on August 22, marking its highest level since January last year.

The token's appreciation was driven by a combination of factors, including institutional inflows and whale accumulation.

Exchange-traded funds (ETFs) attracted significant capital, with Bitwise and Franklin Templeton leading the charge. The two firms saw net inflows of $12.2 million and $1.49 million respectively on Friday alone.

The total weekly inflows for XRP ETFs reached $40 million, which is the largest weekly increase since May.