u.today
Inflows into $XRP-focused investment products surged by 250% in the past week, according to a recent report by CoinShares. Over $1 million flowed into these exchange-traded products last week, up from $400,000 the previous week. This brings the total net flows into $XRP ETPs to more than $19 million since the beginning of the year.
This dramatic increase in inflows is likely linked to rising expectations surrounding the SEC's case against Ripple, which may soon reach a conclusion. Currently, the parties are negotiating the final compensation amount, with the SEC demanding $2 billion, while Ripple is seeking no more than $10 million.
This ongoing case follows last year’s pivotal ruling on July 13, 2023, when $XRP was officially recognized as a nonsecurity.
Pricing in?
Reflecting these developments, $XRP's price also saw significant movement, climbing nearly 25% last week in anticipation of the one-year anniversary of that landmark decision. As the situation between Ripple and the SEC intensifies, the influx of investment capital into $XRP underscores growing optimism among investors.
All eyes are now on July 18, a crucial date, as the SEC plans a closed meeting, potentially to finalize the lawsuit against Ripple and discuss a settlement strategy. This upcoming decision could further influence market dynamics and investment flows into $XRP, as stakeholders await clarity on the future of this prominent digital asset.