XRP shoots up after world’s largest crypto fund doubles its bet on Ripple – BeInCrypto

XRP shoots up to 9.85% on Monday August 3, one day after a wave of Bitcoin and Ethereum liquidations. The cryptocurrencies They rise again, but the Ripple coin grows more. Grayscale is winning after doubling its investment in crypto assets.

Investors have waited a long time for a positive assessment of XRP. This cryptocurrency, it is worth remembering, draws attention for having been present in the 2017 bullish momentum and not having recovered anything close to its maximum level since then.

From $ 3.4, according to Coingecko, the asset has plunged to worth pennies. In March, it reached $ 0.13 and began to recover. Since July 20, it has been increasing and today it is trading above $ 0.31.

One of the reasons may be institutional optimism about the asset. Last Friday, July 31, Grayscale, the world’s largest cryptocurrency fund manager, ad the expansion of XRP purchases.

The company now has $ 6.2 million in XRP., double the 3.1 million registered a few days ago.

Although it is little compared to bitcoin assets and EthereumFor example, the increase is significant. According to the last report, the fund already has $ 5.2 billion in cryptocurrencies.

Buy and sell with Ripple (XRP)

Grayscale’s investment surge comes shortly after Visa announced that XRP is one of the currencies that will be accepted for payments. In addition to Ripple’s cryptocurrency, only Ethereum and Bitcoin are under the same plans.

Another novelty well received by investors is the launch of the Ripple purchase API. With this feature, stores will be able to accept XRP to sell any product, which can increase currency adoption.

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