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Title: XRP Flips Bitcoin in Major Adoption Metric
The recent surge in XRP’s adoption has seen the cryptocurrency flip Bitcoin in a major metric, according to on-chain data from Glassnode. Despite RP’s cycle only breaking out in December, which suggests a retail-backed spike rather than institutional accumulation, some experts believe that this may not be sustainable for the long term.
However, recent developments have sparked optimism among investors and analysts alike. Firstly, XRP has been included in the US crypto stockpile, a move seen as a major step towards mainstream recognition. Additionally, the end of the Ripple vs. SEC lawsuit has eliminated a significant overhang that had previously weighed on the asset’s price.
While this may lead to increased institutional interest, it is worth noting that recent data suggests that XRP’s rally may not have the same level of sustainability as Bitcoin’s growth, which is driven by big-money investors, ETFs and institutions. However, with several asset management firms having filed ETF applications with the SEC, including Bitwise, Grayscale, and Canary Capital, approval could be just around the corner.
This has led some analysts to suggest that XRP may see a shift in its institutional capital trajectory. According to Nate Geraci, President of ETF Stores, “approval is just a matter of time,” and it’s likely that other major players such as BlackRock and Fidelity will follow suit.
While this development presents a potential game-changer for the asset, it remains to be seen whether these developments will have a lasting impact on its adoption metric.
Source: https://u.today/xrp-flips-bitcoin-in-major-adoption-metric
