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COINTURK NEWS > Ripple (XRP) > Crypto Investment Products Attract Significant Interest and See Record Inflows
Ripple (XRP)

Crypto Investment Products Attract Significant Interest and See Record Inflows

In Brief

  • Crypto investment products recorded significant inflows, reaching $3.2 billion last week.

  • Analysts predict XRP's price will exceed $3 amidst positive market developments.

  • Institutional interest and regulatory changes are boosting confidence in Ripple and XRP.

Fatih Uçar
Fatih Uçar 6 months ago
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Crypto asset investment products continued to attract strong interest from institutional and individual investors, recording a net inflow of $3.2 billion last week. This marked the tenth consecutive week of inflows. Notably, XRP experienced a record purchase, increasing from $134.3 million the previous week to $145.8 million.

Contents
Institutional Interest and ETF ExpectationsXRP Price Predictions

Institutional Interest and ETF Expectations

Following the crypto-friendly policies of the Trump administration and the resignation of SEC Chairman Gary Gensler, the likelihood of an XRP ETF launch in the U.S. has significantly increased. Companies like Bitwise, 21Shares, Canary Capital, and WisdomTree have submitted applications to the SEC for approval.

The crypto community remains optimistic about the potential conclusion of the case between Ripple $2 and the SEC following Gensler’s departure. The government agency will submit its main petition by January 15. Ripple CLO Stuart Alderoty noted that Gensler might bring flawed arguments from the Binance case to Ripple’s situation as well.

XRP Price Predictions

Popular analysts expect XRP’s price to exceed $3 due to developments such as Ripple’s upcoming RLUSD stablecoin launch. CrediBULL Crypto stated, “XRP’s structure looks very clean and suitable for an upward trend,” predicting the price could easily reach $5 by 2025.

Crypto Tony suggested, based on Elliott Wave analysis, that XRP has rebounded from $2.91 and is under upward pressure towards $3 on a weekly timeframe.

Whale Alert reported a transfer of $1.92 billion worth of XRP from Binance to an unknown wallet, affirming the confidence of whales in Ripple’s native coin.

Currently, XRP is trading at $2.48, reflecting a 3% rise over the last 24 hours, with prices ranging from $2.34 to $2.58. Developments involving Ripple and XRP appear to bolster investor confidence, with ongoing regulatory advancements and institutional interest leading investors to believe in potential value gains for XRP.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 17 December, 2024 - 5:14 am 17 December, 2024 - 5:14 am
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