- Trader sentiment for XRP increased to bullish levels on social media this week.
- Spot XRP exchange-traded funds (ETFs) saw positive inflows for 19 consecutive days, totaling nearly $975 million.
- Ripple received approval for a national trust bank charter from the US Office of the Comptroller of the Currency.
- Ripple recently raised $500 million at a $40 billion valuation, attracting prominent investors.
Trader sentiment toward XRP has shifted into bullish territory this week, with retail traders showing optimism as the token trades near $2. Market intelligence platform Santiment reported the week recorded the seventh highest number of bullish comments this year, based on data from its analytics service Sanbase that monitors social interest across platforms like Telegram, Discord, subreddits, and X (formerly Twitter).
XRP has fluctuated between $1.99 and $2.17 over the past seven days and was trading at $2.03 as of Saturday, according to data from crypto aggregator CoinGecko. Santiment noted ongoing competition between bulls and bears while emphasizing increasing bullish sentiment across social media channels.
Meanwhile, spot XRP exchange-traded funds (ETFs) maintained a streak of positive net inflows for 19 consecutive days. On Friday alone, over $20.1 million was recorded, bringing cumulative inflows to almost $975 million and total assets under management to approximately $1.18 billion, per data from crypto research platform SoSoValue. The strongest day for inflows was November 14, with over $243 million, while November 18 was the weakest with $8 million, and November 17 saw the second-highest intake at $164 million.
Giannis Andreou, founder and CEO of crypto miner Bitmern Mining, stated on X that “Wall Street hasn’t stopped buying,” describing the accumulation as typical before a narrative shift, according to his post.
In regulatory developments, Ripple was approved on Friday for a national trust bank charter by the U.S. Office of the Comptroller of the Currency, along with stablecoin issuer Circle. Other firms including BitGo, Fidelity Digital Assets, and Paxos also received approval to convert their state-level trust companies into federally chartered national trust banks.
Earlier this November, Ripple raised $500 million at a valuation of $40 billion, attracting investors such as affiliates of Citadel Securities and Fortress Investment Group. The company also expanded into the stablecoin sector and pursued acquisitions in brokerage and treasury management in the preceding month.
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