Trader sentiment regarding XRP has turned bullish on social media this week, as reported by market intelligence platform Santiment, while the inflow of funds into the token’s exchange-traded funds has persisted.
Retail traders remain optimistic about XRP (XRP) as it stabilizes around the $2 mark, with this week marking the seventh highest number of bullish comments for the year. Santiment noted on Friday, referencing data from its analytics platform Sanbase, which tracks social engagement across cryptocurrency channels like Telegram, Discord, subreddits, and X.
“XRP’s bulls and bears are in a tug-of-war, with the asset maintaining a market value close to $2.00. Sentiment is leaning bullish on social media,” Santiment stated.
XRP has been fluctuating between $1.99 and $2.17 over the past week and is currently trading at $2.03 as of Saturday, according to crypto data aggregator CoinGecko.
XRP ETF inflow streak persists
Meanwhile, spot XRP exchange-traded funds (ETFs) have maintained a streak of positive inflows, recording over $20.1 million on Friday, marking 19 consecutive days of net inflows, according to crypto research platform SoSoValue.
This continuous influx has driven total cumulative inflows to approximately $974.5 million, with total assets under management around $1.18 billion.
Nov. 14 remains the most significant day for XRP ETF inflows, exceeding $243 million. Following that, Nov. 18 was the weakest day, noting just $8 million, while Nov. 18 saw the second-highest intake at $164 million.
Related: Ripple seeks to acquire $1 billion in XRP tokens for new treasury: Report
Giannis Andreou, founder and CEO of crypto miner Bitmern Mining, mentioned in a post on X at the beginning of the week that “Wall Street hasn’t ceased buying,” speculating it’s the “type of accumulation typically seen before a narrative shift.”
Ripple gaining momentum towards year-end
Ripple received approval for a national trust bank charter from the US Office of the Comptroller of the Currency on Friday, alongside stablecoin issuer Circle.
BitGo, Fidelity Digital Assets, and Paxos also obtained permission to transition their state-level trust companies into federally chartered national trust banks simultaneously.
In November, Ripple raised $500 million at a valuation of $40 billion, gaining interest from investors, including affiliates of Citadel Securities and Fortress Investment Group.
A month prior, the crypto firm further infiltrated the stablecoin sector and sought acquisitions in brokerage and treasury management.
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