Over the past 24 hours, the price of XRP has risen by 3.5%, indicating a strong recovery in the larger cryptocurrency market.
This increase in value is consistent with the recovery that began on July 8 and was driven by institutional investments after the decline caused by the problems of Mt.Gox.
Institutional investments are fueling the crypto comeback
CoinShares, which manages digital assets, reported that the recovery is in line with large inflows into cryptocurrency funds, which totaled $441 million, during the week that saw an 11.28% decline in the value of Bitcoin.
Specifically, during the week ending July 5, investment funds prioritizing XRP attracted capital of $400,000. Since this story was published on July 8, the XRP/USD trading pair has risen by about 10%.
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