XRP's Institutional Narrative Grows Stronger Despite Fading Price Momentum
XRP's institutional narrative has strengthened due to demand from traditional market-driven products. The token's spot exchange-traded fund (ETF) managed by Bitwise has surpassed $507 million in assets under management, indicating significant institutional interest. However, XRP's recent price rally appears to be losing momentum, with the token trading around $1.36 to $1.37 at the end of August.
The token gained 37% during August, its strongest monthly performance since Ripple settled a long-running dispute with U.S. securities regulators. Despite this gain, XRP is still down roughly 7% over the preceding week due to the unwinding of leveraged positions and fading buying momentum.
U.S. spot XRP funds recorded about $110 million in weekly inflows, supporting demand during a period of uneven price action. The growth of Bitwise's fund suggests that XRP exposure is increasingly reaching investors through regulated products rather than only crypto exchanges.