MarketPR
XRP (CRYPTO: XRP) stood at $1.43 on Aug. 28, reflecting a 30-day gain of 33%.
Alex Carchidi of The Motley Fool states he will not increase his holdings in the Canary XRP ETF despite the price appreciation, citing a disconnect between the asset's market value and its underlying economic fundamentals.
The primary driver for the recent price surge appears to be legislative activity rather than network utility. Senate scheduled a vote on the Digital Asset Market Clarity Act for Sept.
Carchidi notes that if the bill passes, it would establish rules for financial institutions holding and transacting in crypto, likely benefiting XRP.
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