XRP Price Climbs As Goldman Sachs Leads ETF Holdings In Q2

XRP Price Climbs as Goldman Sachs Leads ETF Holdings in Q2

Ripple (XRP) price climbed by 1.31% to $1.38, slightly outperforming a modestly positive broader market, driven primarily by resilient institutional demand via spot ETFs and positive regulatory developments in its ecosystem.

Spot XRP exchange-traded funds recorded their ninth consecutive day of net inflows on August 28, bringing cumulative net inflows to approximately $1.6 billion since launch.

Bloomberg Intelligence analyst James Seyffart noted the flows are “surprisingly resilient” given XRP’s price decline, with investment advisers being the largest allocators.

This persistent buying through regulated products provides a steady bid underneath the market. Institutional capital is methodically accumulating XRP exposure, viewing current levels as attractive for the long term, which helps cushion against sharp sell-offs.

The SEC cleared the registration statement for Evernorth Holdings, an XRP treasury company backed by Ripple, paving the way for its merger with a SPAC and a Nasdaq listing under ticker “XRPN”.

Wall Street’s interest in XRP appears to be gaining momentum, with Goldman Sachs Group Inc. emerging as the largest institutional holder of spot XRP ETF positions.