Why Is Ripple’s XRP Trending Today?

Santiment data shows which cryptocurrency has been trending on social media for a given period and the most common topics discussed by online commentators. In its latest post, the analytics platform outlined several digital assets that have captured the crowd’s attention for different reasons. In this article, we will focus on Ripple’s XRP and why it has been gathering steam. Why So Trendy, XRP? Perhaps the most notable development in the cryptocurrency market for the past week or so is the overall correction that brought it to its knees, especially BTC, which dumped to a seven-month low. XRP has fared rather well compared to the market leader, but it’s still down by 10% weekly, even though its price has calmed at around $2.15. Naturally, such moves are always discussed among retail investors on social media, but the analytics platform said it’s not the main culprit. Instead, Santiment data shows that the crowd has focused on the recent developments on the ETF front. It all began with the spot XRP ETF launched by Canary Capital last week, which became the first such financial vehicle with 100% exposure to the asset to hit the US markets. “The texts highlight the launch of XRP-based ETFs, including the first XRP option income ETF by Amplify, and debates on whether ETFs aid XRP adoption or just serve as speculative investment vehicles.” Other reasons Ripple’s token has been trending lately include discussions about its potential use in pension funds and as a settlement mechanism. ETF Update As reported last week, Canary Capital’s XRPC cleared all hurdles after the Nasdaq published the official listing notice on November 12. A day later, the fund went live for trading and broke the 2025 record for trading volume, surpassing even Bitwise’s SOL debut. Data from SoSoValue shows that the product has attracted $277.82 million as of November 18. This means that the actual net inflows have slowed down after the impressive launch. On day 1, XRPC attracted a whopping $243.05 million, followed by a more modest $25.41 million on the next trading day (November 17). Although the data for November 18 hasn’t been updated yet, it’s likely to be a lot lower than the opening day. The post Why Is Ripple’s XRP Trending Today? appeared first on CryptoPotato.