According to market research platform Santiment, trader sentiment towards XRP has shifted into bullish territory on social media this week, while the series of inflows into the token's exchange-traded funds has continued.
Retail traders remain bullish on XRP (XRP) because it hovers across the $2 mark, with this week recording the seventh-highest variety of bullish comments of the 12 months, Santiment said on Friday, citing data from its analytics platform Sanbase, which monitors social interest across cryptocurrency social channels including Telegram, Discord, Subreddits and X.
“XRP's bulls and bears proceed to battle, and the asset stays stuck at a market cap of $2.00 for now. Social media sentiment is bullish,” Santiment said.
According to crypto data aggregator CoinGecko, XRP has fluctuated between $1.99 and $2.17 over the past seven days and is trading at $2.03 on Saturday.
Optimism towards XRP on social media has increased. Source: Santiment
The inflow flow of XRP ETFs continues
Meanwhile, spot XRP exchange-traded funds (ETFs) continued their streak of positive inflows, based on crypto research and investment platform SoSoValue. Over $20.1 million was recorded on Friday, marking 19 consecutive days of net inflows.
The sustained inflow has pushed total cumulative inflows to just about $974.5 million and total assets under management to roughly $1.18 billion.
November 14th was still the strongest day for XRP ETF inflows, with over $243 million. In subsequent weeks, November 18th was the weakest day at just $8 million and November 18th recorded the second highest day at $164 million.
Giannis Andreou, the founder and CEO of crypto miner Bitmern Mining, said in an
Towards the top of the 12 months the momentum of the wave increases
Ripple was approved for a national trust bank charter by the U.S. Office of the Comptroller of the Currency on Friday, together with stablecoin issuer Circle.
BitGo, Fidelity Digital Assets and Paxos also received the green light to concurrently convert their existing state-level trust corporations into state-recognized 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 earlier, the crypto company moved deeper into the stablecoin market, making acquisitions in brokerage and treasury management.
