Over the past two years, XRP has had many ups and downs. The asset kept working on the developmental side of things notwithstanding the continuing dispute. Numerous assets suffered as a result of the bears’ hegemony over the cryptocurrency market. Many of them experienced a severe downturn, and some continued the downward trend they already had.
CoinShares said that XRP has seen a three-fold surge in inflows despite weak money flows into crypto-focused products. the altcoin-focused cryptocurrency products saw a fund inflow of $100,000 the week prior, but this week it was already $300,000. One of the few cryptocurrencies that have continued to draw investment over the past six weeks is XRP. The initiative is still running strong despite unfavorable market conditions and the ongoing SEC v. Ripple dispute, thanks to authorities’ ambitions to have XRP recognized as a security.
Investments into token-focused goods have also increased by $500,000 month over month. The statistics are even better year over year, with an excess of $8.5 million.
XRP was not the only cryptocurrency product with favorable funds flow values; Short Bitcoin, Solana, and Cardano products were also part of the list. A $7.3 million fund flow surplus, the first in the previous six weeks, was the overall outcome of the week.
Despite the favorable figures, the CoinShares analyst observes a lack of investor participation and conflicting opinions about the cryptocurrency industry. The simultaneous infusion of money into Bitcoin itself and its Short form reflects the same.
XRP’s position in SEC vs Ripple
Less than a week ago, the Chamber of Digital Commerce submitted a motion to intervene in the current SEC v. Ripple litigation. Many in the sector supported the Chamber’s involvement in the conflict. However, several others expressed skepticism about the development.
A purported lawyer and pro-XRP activist who goes by @Belisarius2020 on Twitter shared his thoughts on the Chamber of Digital Commerce entering the SEC vs. Ripple fight.
According to the lawyer, the chamber wants to give the court the impression that the digital asset and any XRP-related transactions are two separate entities. The rule that cryptocurrency trading on the secondary market turns into securities dealing would not have been established if the court had accepted the reasoning that Ripple transactions utilizing XRP and the independent circulation of XRP are not the same.
The attorney further asserts that even if the court finds that the token in this specific case meets the definition of a security, the chamber and the cryptocurrency sector will still benefit from a favorable outcome if at least the requirement of two independent investigations is recognized.
The lawyer also emphasized that the Chamber of Digital Commerce’s participation in the case makes sense given the ongoing operation of the bitcoin business. This is neither good nor bad for Ripple or XRP, though.