XRP saw an inflow of $3 million last week, fueling negative investor sentiment on the digital asset according to a Coinshares weekly earnings report shared on Twitter today.
This represents a 9% increase in XRP assets under management (AuM). According to Coinshares, investors clearly see the growth of the US Securities and Exchange Commission against Ripple as a good thing for XRP.
In comparison, Bitcoin and Ethereum, which sit at the top of the crypto market in terms of market capitalization, saw up to $6.5 million and $3 million, respectively. It is the 3rd week of release for Bitcoin and the 8th week for Ethereum.
As frequently reported, the SEC vs. Ripple is coming to an end, because the two sides fought for a long time for more than two years. Apparently, the court expects both sides to file responses to the omnibus motion filed Dec. 22 to close the documents related to the summary of the trial today, according to the new schedule update.
Ripple’s Lawyers Challenge SEC’s “Failed Strategy” in Ongoing XRP Case
It is worth pointing out that behind the FTX failure, many experts have a hole in the SEC focusing on Ripple and its failure to find fraudulent FTX operations that prevent a catastrophic failure in an area it is struggling to control. A recent article written by Roslyn Layton of Forbes, which received a lot of support from the XRP community, criticized the SEC for its “failed strategy” and “lawlessness through enforcement.”
According to a leading contributor to international technology policy, the SEC’s intended shakedown met with resistance, and Ripple’s lawyers are tearing up the SEC’s arguments.
Obviously, the latest news from Coinshares adds to the emerging thread of bullish XRP news. Note that Santiment Feed chose it as the crypto of the month. Also, Egrag Crypto has predicted the day XRP will start running in the third quarter of this year. It should be noted that a victory for Ripple in the SEC case could see the price of XRP go parabolic.
XRP is trading at a price of $0.3511 at the reporting time, increasing 1.52% in the last seven days, with a market capitalization of $17.7 billion, the sixth largest crypto in this regard.