XRP Price Soars Past $2.20 Driven by Institutional Investment

The cryptocurrency XRP has experienced a significant surge, surpassing the $2.20 mark and indicating a strong technical rebound. The price increase is primarily attributed to increased institutional interest following the launch of two new XRP-focused exchange traded funds (ETFs) – Franklin Templeton’s XRPZ and Grayscale’s GXRP. These ETFs garnered over $164 million in their initial trading day, signifying a major shift towards formal integration of XRP within traditional finance systems. This new influx signals a significant realignment in the market dynamics.