XRP has emerged as one of the biggest winners in the recent wave of digital asset investment products, which saw a turnaround after six weeks of releases
Digital asset investment products saw a remarkable turnaround after six weeks of outflows totaling $408 million. According to the latest information from CoinShares reportrecent inflows were $160 million, the largest weekly gain since July 2022.
Amid this surge, XRP emerged as one of the top gainers among altcoins with inflows of $1.2 million.
The controversial token, which is tied to blockchain company Ripple Labs, is currently trading at $0.48, up around 6.3% over the past few hours and around 24% over the past week.
As reported by U.Today, pro-XRP attorney John Deaton has suggested that the price of XRP could potentially rise if Ripple Labs prevails in its ongoing legal battle with the States Securities and Exchange Commission (SEC). -United.
The extremely important court decision, which is expected in the coming weeks, could provide much-needed clarity for the future growth of XRP and have a significant impact on the broader cryptocurrency market.
Notably, capital inflows have recently been observed in several countries, indicating a broad improvement in sentiment in the asset class. The United States, Germany and Canada led the charge with inflows of $69 million, $58 million and $26 million, respectively.
Bitcoin, the flagship cryptocurrency, was the biggest beneficiary, receiving inflows of $128 million. Altcoins such as Solana and Polygon also saw strong inflows, with $4.8 million and $1.9 million respectively. These investment surges come as investors grow increasingly concerned about the stability of the traditional financial sector.