Trader sentiment toward XRP has been shifting into bullish territory on social media this week, according to market intelligence platform Santiment, and at the same time, the streak of inflows into the token’s exchange-traded funds has continued.
Retail traders are staying optimistic toward XRP (XRP) as it hovers around the $2 mark, with the week recording the seventh highest number of bullish comments for the year, 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 continue to battle, and the asset is hanging on to a $2.00 market value for now. Sentiment is showing bullishness across social media,” Santiment said.
XRP has been drifting between $1.99 and $2.17 in the last seven days and is trading hands for $2.03 as of Saturday, according to crypto data aggregator CoinGecko.
Optimism toward XRP on social media has been on the rise. Source: SantimentXRP ETF inflow streak continues
Meanwhile, spot XRP exchange-traded funds (ETFs) continued a streak of positive flows, with over $20.1 million recorded on Friday, marking 19 consecutive days of net inflows, according to crypto research and investment platform SoSoValue.
The ongoing influx has pushed cumulative total inflows to nearly $974.5 million and the total assets under management to about $1.18 billion.
Nov. 14 has still been the strongest day for XRP ETF inflows, with over $243 million. In the weeks since, Nov. 18 has been the weakest day, with only $8 million, and Nov. 18 has seen the second-highest intake with $164 million.
Related: Ripple seeks to buy $1 billion XRP tokens for new treasury: Report
Giannis Andreou, the founder and CEO of crypto miner Bitmern Mining, said in an X post at the start of the week that “Wall Street hasn’t stopped buying,” and he speculates it’s the “kind of accumulation you usually see before a narrative shift.”
Ripple building momentum toward end of year
Ripple was approved for a national trust bank charter by the US Office of the Comptroller of the Currency on Friday, along with stablecoin issuer Circle.
BitGo, Fidelity Digital Assets and Paxos also received the green light to convert their existing state-level trust companies into federally chartered national trust banks at the same time.
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 pushed deeper into the stablecoin market and pursued acquisitions in brokerage and treasury management.
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Source: https://cointelegraph.com/news/xrp-bulls-gainig-ground-over-the-bears-on-social-media?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
