Key Takeaways
- Bullish Momentum: Social media sentiment for XRP has turned decisively bullish, with the week seeing the 7th highest number of optimistic comments this year.
- Record ETF Inflows: Spot XRP ETFs have recorded 19 consecutive days of net inflows, adding over $20.1 million on Friday alone.
- Price Stability: XRP is holding firm around the $2.00 psychological support level, trading between $1.99 and $2.17 over the past week.
- Institutional Endorsement: Ripple, alongside other major firms like Circle and Fidelity, received approval for a national trust bank charter, signaling regulatory progress.
Bullish Chatter Drives XRP Optimism
Trader sentiment toward XRP has made a notable shift into bullish territory across social media platforms this week. According to market intelligence platform Santiment, this week recorded the seventh highest number of bullish comments for the digital asset so far this year. Santiment's analytics platform, Sanbase, which monitors discussions on Telegram, Discord, subreddits, and X, highlighted the growing optimism among retail traders as XRP hovers around the $2 mark.
“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 noted.
This positive social sentiment coincides with a period of relative price stability. Data from CoinGecko shows XRP has been trading between $1.99 and $2.17 over the last seven days, with a current price of approximately $2.03.
ETF Inflows Show Unwavering Institutional Confidence
Parallel to the retail optimism, institutional interest, as measured by exchange-traded fund (ETF) flows, remains robust. According to data from crypto research platform SoSoValue, spot XRP ETFs extended their streak of positive flows to 19 consecutive days. Friday alone saw over $20.1 million in net inflows.
This sustained demand has significantly boosted the funds' size:
- Cumulative Net Inflows: Have reached nearly $974.5 million.
- Total Assets Under Management (AUM): Now stand at approximately $1.18 billion.
While November 14 remains the strongest single day for inflows at over $243 million, the consistent daily additions underscore steady accumulation. As Giannis Andreou, CEO of Bitmern Mining, speculated on X: “Wall Street hasn’t stopped buying,” suggesting this could be the type of accumulation that precedes a major market narrative shift.
Regulatory Milestones and Corporate Expansion
The bullish fundamentals for XRP are further supported by significant regulatory and corporate developments:
- National Trust Charter: Ripple, along with stablecoin issuer Circle, received approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter. Firms like BitGo, Fidelity Digital Assets, and Paxos also received similar approvals, enhancing the institutional framework for digital assets.
- Substantial Funding Round: In November, Ripple raised $500 million at a $40 billion valuation, attracting heavyweight investors including affiliates of Citadel Securities and Fortress Investment Group.
- Market Expansion: The company has also been actively expanding into the stablecoin market and pursuing strategic acquisitions in brokerage and treasury management services.
These elements combine to paint a picture of an asset gaining strength both in public perception and through tangible financial and regulatory channels. The convergence of positive social sentiment, relentless ETF inflows, and foundational corporate growth suggests a fortified position for XRP as it navigates the $2 price level.
