XRP Surges as Institutional Funds Exit Bitcoin and Ethereum, Hitting 5-Week Sentiment High
XRP Surges as Institutional Funds Exit Bitcoin and Ethereum, Hitting 5-Week Sentiment High
XRP is experiencing a significant surge in positive sentiment and institutional inflows, hitting a 5-week high. A CoinShares report highlights XRP as the best-performing crypto token this year, attracting approximately $150 million in fresh capital. This positive trend for XRP comes amidst a broader market 'risk-off' environment, with Bitcoin and Ethereum concurrently registering substantial cumulative outflows of around $1.5 billion as money rotates away from these larger assets.
XRP is attracting institutional money and a burst of bullish positioning, even as much of the crypto industry remains stuck in a risk-off tape. According to a CoinShares report, XRP is the best-performing crypto token this year, attracting around $150 million in fresh capital, while Bitcoin and Ethereum have registered cumulative outflows of around $1.5 billion.