As a seasoned crypto investor with a keen interest in XRP, I’ve witnessed my fair share of market volatility and regulatory uncertainty. However, the recent surge in inflows into XRP-focused investment products, as reported by CoinShares, has piqued my interest once again. The latest data shows that over $500,000 flowed into these products last week, bringing the total net flows to more than $19 million since the start of the year.
Based on the latest report from CoinShares, there was an increase of approximately $500,000 in the past week for investment products centered around XRP. Though this number is less than the previous week’s inflow of over $1 million, it signifies a substantial half-million dollar investment.
The recent influx has brought the accumulated investments in XRP ETPs up to over $19 million since the beginning of this year.
It’s plausible that the surge in value is linked to increased anticipation regarding the SEC’s ongoing case against Ripple. With a significant development anticipated soon – possibly on July 25th – traders and supporters are actively debating the potential outcomes, be it a settlement or resolution.
Ripple v. SEC
According to U.Today’s report, the Securities and Exchange Commission (SEC) has postponed a significant closed-door session by a week, adding more intrigue to the ongoing case between the SEC and Ripple. At present, the SEC is insisting on recovering vast sums of money, while Ripple aims for a relatively smaller compensation of only $10 million.
As an analyst, I’ve noticed that the upcoming ruling on XRP has significantly influenced its market behavior. In fact, this digital currency saw a remarkable price surge of almost 50% over the last week. This upward trend aligns with the approaching milestone of one year since the groundbreaking decision that classified XRP as a non-security.
On Thursday, July 25, the closed meeting between Ripple and the SEC takes center stage, with the possibility of concluding the lawsuit and negotiating a settlement. The surge in investments into XRP Exchange-Traded Products (ETPs) indicates that investor confidence remains buoyant, barring any unforeseen incidents.
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2024-07-22 19:17