XRP Up as Volante Integrates Ripple into FedNow Payments
Ripple (XRP) price hovered at $1.49 in the cryptocurrency market on Monday, following a sharp 50% appreciation last week after the US Treasury announced a huge bond buyback for September.
Up by about 2% in the last 24 hours, the crypto market analysts anticipate the XRP price to remain strong amid macro shifts, including US Treasury liquidity signals and the Clarity Act next month.
The token price edged higher after soft profit-taking by retail investors amid Volante Technologies’ latest integration of Ripple XRP into the FedNow payment network.
Data from the cryptocurrency market revealed that XRP trading volume fell by 28% over 24 hours, with $6 billion in transaction volume.
Reports revealed that Volante Technologies’ multi-rail platform connects XRP settlement to the Federal Reserve’s instant payment system, but the reality is more nuanced than the headline suggests
XRP’s entry into the US Federal Reserve’s instant payment service, FedNow, is expected to drive the next re-rating amidst sustained institutional demand.
Volante acts as an intermediary between financial institutions and major payments networks, including FedNow and The Clearing House’s RTP network.
The company’s platform enables banks and payment providers to access multiple networks efficiently, simplifying transactions across otherwise separate rails.
According to SoSoValue data, during last week’s trading days, the XRP spot exchange-traded funds (ETFs) had net inflows of $39.7808 million.
The XRP spot ETF with the largest weekly net inflow last week was the Bitwise XRP ETF, with a weekly net inflow of $30.2177 million, and Bitwise XRP’s cumulative historical net inflows have reached $543 million.
The second was the Franklin Templeton ETF XRPZ, with a weekly net inflow of $7.6223 million, and XRPZ’s cumulative historical net inflows have reached $434 million.
As of the time of publication, the total net asset value of spot XRP ETFs was $1.33 billion, the ETF net asset ratio (percentage of market cap relative to the total $XRP market cap) was 1.54%, and cumulative historical net inflows totalled $1.55 billion.
