XRP ETF raises $1.12 billion: the "third way" for the crypto market?

Question

[Coin World] The XRP-related ETF has been quite active recently, having absorbed approximately $1.12 billion in assets. It's worth noting that this has been achieved during a somewhat cold period in the entire Crypto Assets market, which is indeed not easy.

Asset management institutions are positioning XRP as a “third way”—neither a pioneering creation like Bitcoin, nor a low-key entry like Ethereum. XRP has forcefully broken out of market difficulties, initially performing quite fiercely, quickly surpassing the $1 billion mark. What does this indicate? Perhaps XRP is becoming a more independent asset class.

Interestingly, its price performance seems to not follow the traditional “crazy-crash” rhythm of the crypto market. Instead, it appears to depend more on the promotion of application adoption and ecological development fundamentals. This characteristic makes it look somewhat different in asset allocation.

CoffeeNFTrader · Accepted Answer

1.12 billion is really not a small amount. In this Bear Market, it can still attract so much capital. XRP indeed has something.

EternalMiner · Answer

1.12 billion? This time XRP is really going to da moon, I&#39;ve been waiting for this moment for a long time.

StableGenius · Answer

so XRP ETF pulled 1.12B just to position itself as the "third way"... empirically speaking, this whole "independent asset class" narrative is actually just capital rotation dressed up in fundamentals clothing. let me explain why - when institutions suddenly care about adoption metrics, it's never about the tech, it's about finding the next momentum play before retail catches on.

SleepyArbCat · Answer

Yo, XRP is indeed quite interesting this time... 1.12 billion, and the market is as cold as a dead cat yet it can be this strong.

Whatever they say about a third way, I think it&#39;s just asset management institutions looking for new arbitrage opportunities, just following the trend.

But to be fair, it&#39;s really not that trendy; it does have a bit of cat-like nature... Compared to those daily candles with big pumps and big dumps, XRP seems a bit rational, a bit boring, haha.

As for application matters? I&#39;ll have to wait until I wake up to look at that... I&#39;m a bit dazed right now.

Breaking ten billion, the gas fee didn&#39;t eat too much, right?

ZkSnarker · Answer

ngl the "third path" framing is just cope for "we need a narrative that isn't btc or eth" but like... $1.12b in a bear market? that's actually wild, not gonna lie

MagicBean · Answer

More than 1.1 billion has really come in, they are quite bold, it feels like institutions have been optimistic about XRP for a long time.

XRP does have something this time, not following the trend or hyping, just relying on actual applications.

Wait a minute, has it really become independent? It still feels like we need to see how the ecosystem develops later.

Even when the market is cold, it can still attract funds, which shows that there is indeed confidence.

Three paths? I think it&#39;s just betting on the dream that XRP can really become a payment solution.

MEVHunterZhang · Answer

1.12 billion dollars came in, this wave of XRP really has some substance, it can still break out like this in such a cold market.