According to the latest digital asset fund inflows report published by the crypto asset manager, CoinShares, XRP investment products attracted nearly $7 million worth of investments in the first week of June 2021, the highest level since April 2021. During the last week of May 2021, an anonymous whale address moved 139 million XRP coins from an unknown wallet after the price of the cryptocurrency jumped above $1. The network activity of XRP has increased substantially in the last few weeks.
Suggested articles The world’s 7th largest cryptocurrency has seen immense volatility since the start of 2021. XRP started this year at a price level of approximately $0.22 after a crash of nearly 60% in December 2020 because of the SEC’s lawsuit against Ripple. In April 2021, the digital currency saw significant interest from retail and institutional investors as its price touched an all-time high of approximately $1.92. After registering the record price level, XRP price experienced a dip in May 2021 as the digital asset reached a low of $0.69 on 23 May.
Price Action of XRP As of writing, XRP is trading near $0.87 with a market cap of more than $40 billion. The current market dominance of the digital asset stands at around 2.5%.
In May 2021, Ripple, San Francisco-based blockchain firm, announced that the company is planning to support NFTs on XRP Ledger (XRPL). In addition, the company highlighted the significant advantages of XRPL over other platforms in the growing market of NFTs. PayRetailers Welcomes Standard Chartered Heavyweight as New CFOGo to article >>
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