This week, trader sentiment towards XRP has turned increasingly bullish on social media, as reported by market intelligence platform Santiment, coinciding with a continued streak of inflows into the token’s exchange-traded funds.
Retail traders remain optimistic about XRP (XRP) as it hovers near the $2 mark, with this week marking the seventh highest number of bullish comments for the year. Santiment reported on Friday, citing data from its analytics platform Sanbase, which tracks social interest across various cryptocurrency channels, such as Telegram, Discord, subreddits, and X.
“XRP’s bulls and bears are in a tug of war, with the asset currently maintaining a market value of $2.00. Sentiment is trending bullish on social media,” Santiment stated.
XRP has fluctuated 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 Inflows Persist
Simultaneously, spot XRP exchange-traded funds (ETFs) sustained a positive inflow streak, with over $20.1 million recorded on Friday, resulting in 19 consecutive days of net inflows, according to crypto research and investment platform SoSoValue.
This influx has raised cumulative total inflows to nearly $974.5 million, with total assets under management reaching approximately $1.18 billion.
November 14 stands out as the strongest day for XRP ETF inflows, garnering over $243 million. The following weeks saw November 18 as the weakest day, with just $8 million, while November 18 recorded the second-highest intake with $164 million.
Related: Ripple Aims to Purchase $1 Billion XRP Tokens for New Treasury: Report
Giannis Andreou, the founder and CEO of crypto miner Bitmern Mining, noted in a X post at the week’s start that “Wall Street hasn’t stopped buying,” suggesting it’s the “type of accumulation typically seen before a narrative shift.”
Ripple Gaining Traction as Year Ends
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 were also given approval to convert their state-level trust companies into federally chartered national trust banks simultaneously.
In November, Ripple secured $500 million at a valuation of $40 billion, attracting investors from Citadel Securities and Fortress Investment Group.
A month earlier, the crypto firm expanded its footprint in the stablecoin sector and sought acquisitions in brokerage and treasury management.
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