Bitwise research head says XRP bull run may still be in early phase

Ryan Rasmussen, Head of Research at Bitwise, recently indicated that the current digital asset market, including XRP, may be only at the early stages of a broader bull run. Rasmussen’s analysis was highlighted in a video shared by crypto commentator Digital Asset Investor, in which he cited rising ETF flows and fresh capital entering the sector as key drivers.

ETF flows expand beyond Bitcoin and Ethereum

In his commentary, Rasmussen noted that significant inflows have reached a range of crypto investment products. According to him, demand is not limited to the largest cryptocurrencies, with assets like Hyperliquid and XRP also seeing increased investment through ETFs and related financial instruments.

He described the market as being at the beginning of a new upward cycle and pointed to sustained ETF activity as an important supporting factor. In addition to Bitcoin and Ethereum, recent capital flows are benefitting several altcoins and emerging crypto projects.

Rasmussen suggested that, “We’re seeing capital deployed across the crypto stack,” emphasizing that the rise in investment is impacting a wide range of crypto assets beyond the sector’s historic leaders.

Rasmussen also addressed the influence of “short screen” dynamics—a trading phenomenon where covering of short positions fuels upward momentum. He suggested that this trading activity had supported the recent acceleration in crypto prices.