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XRP Surges on Institutional Momentum Following Grayscale Fund Inclusion
In a remarkable development for the cryptocurrency market, XRP, the native token of Ripple Labs, has surged to a 7-week high, riding a wave of institutional momentum sparked by its recent inclusion in Grayscale’s Digital Large Cap Fund (GDLC).
The move marks a significant shift in market sentiment, especially in the aftermath of Ripple's partial legal victory over the U.S. Securities and Exchange Commission (SEC). Institutional players appear to be regaining confidence in the token, once considered a high-risk asset due to regulatory ambiguity.
"This is a key milestone for XRP’s legitimacy and utility as a mainstream crypto asset," said a spokesperson for Grayscale. The GDLC fund, which now holds XRP alongside Bitcoin, Ethereum, and Solana, aims to provide diversified exposure to top digital assets by market cap.
📊 Market Reaction
Following the announcement, XRP prices jumped more than 15%, reaching levels not seen since mid-May. Trading volumes on major exchanges such as Binance, Kraken, and Coinbase spiked dramatically as retail and institutional traders rushed to capitalize on the momentum.
🏦 Institutional Confidence Returns
The inclusion in Grayscale’s fund is viewed as a seal of approval for XRP. Analysts believe it could pave the way for other large financial entities to consider the token for their portfolios.
“Institutions typically follow each other. With Grayscale taking the first step, expect ripple effects—no pun intended,” joked analyst Raj Patel of Blockstream Markets.
⚖️ Legal Tailwinds
The surge comes on the heels of Ripple Labs’ partial win against the SEC, which clarified that XRP is not a security when traded on public exchanges. This ruling has given investors more confidence in engaging with XRP without fear of regulatory backlash.
