Trader sentiment for XRP has moved into bullish territory on social media this week, according to market intelligence platform Santiment, as the token continues to see continued inflows into exchange-traded funds.
Citing data from Sunbase, an analytics platform that monitors social interest across crypto social channels, including Telegram, Discord, subreddits, and
“The battle between XRP bulls and bears continues, with the asset holding a market price of $2.00 for now. Sentiment is bullish across social media,” Santiment said.
According to crypto data aggregator CoinGecko, XRP has fluctuated between $1.99 and $2.17 over the past seven days, and was trading at $2.03 as of Saturday.
Continuous inflows of XRP ETF continue
Meanwhile, the Spot XRP exchange-traded fund (ETF) continues to see positive inflows, recording more than $20.1 million on Friday, marking the 19th consecutive day of net inflows, according to crypto research and investment platform SoSoValue.
With continued inflows, the cumulative total inflows reached nearly $974.5 million, and total assets under management were approximately $1.18 billion.
November 14th remains the day with the highest inflows for the XRP ETF, with over $243 million. In the weeks since then, Nov. 18 has been the slowest day with just $8 million, and Nov. 18 has had the second-highest inflow at $164 million.
Related: Ripple aims to buy $1 billion in XRP tokens for new Treasury: Report
Yanis Andreou, founder and CEO of crypto mining company Bitmeln Mining, said in an X post earlier in the week that “Wall Street hasn’t stopped buying,” speculating that this is “the type of accumulation that often precedes a shift in the narrative.”
Ripples gain momentum towards the end of the year
Ripple, along with stablecoin issuer Circle, was approved by the U.S. Office of the Comptroller of the Currency as a national trust bank on Friday.
BitGo, Fidelity Digital Assets, and Paxos also received permission to convert their existing state-level trust companies into federally chartered national trust banks.
In November, Ripple raised $500 million at a valuation of $40 billion, attracting investors including affiliates of Citadel Securities and Fortress Investment Group.
A month ago, the cryptocurrency company expanded further into the stablecoin market, acquiring a brokerage firm and a treasury management unit.
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