XRP Receives $6.55 Million ETF Influx Before July 4th Holiday
XRP's ETFs gained $6.55 million ahead of the July 4th holiday, marking a strong performance. Shiba Inu slipped in market rank as Bitcoin remains steady.
On the eve of the July 4th holiday, XRP-related ETFs recorded a net inflow of $6.55 million, marking the eighth consecutive week of positive growth.
XRP ETF Performance
The latest influx raised total assets under management in XRP ETFs to approximately $987.91 million across seven funds. This amount represents around 1.5% of XRP's overall market cap. Bitwise's fund was solely responsible for this week's inflow, while other competitors like Canary and Grayscale recorded no contributions.
Current Market Status for XRP
As of the latest trading session, XRP is valued at $1.09, facing resistance at the $1.10 mark. The cryptocurrency is entering a lower liquidity period due to the Independence Day holiday.
Bitcoin and Adam Back’s BIP-110 Commentary
In related news, Blockstream CEO Adam Back announced that Bitcoin Improvement Proposal (BIP)-110, which proposed transaction filtering, has effectively lost traction, garnering only 0.31% support from mining pools.
Shiba Inu's Market Position
Shiba Inu (SHIB) has fallen to the 32nd position in market capitalization, now sitting at $2.55 billion. The cryptocurrency has been displaced by NEAR Protocol and Tether Gold. The overall supply of SHIB is climbing back toward 87 trillion tokens after whales returned 493 billion coins in early July following a significant withdrawal of 781 billion coins the prior month.
Current Bitcoin Trends
Bitcoin is maintaining a price range between $59,000 and $62,000, with whale investments totaling 270,000 BTC. Spot ETFs have reported net inflows of $221.7 million. However, the market's thin order books during the holiday weekend may lead to increased volatility, especially if Bitcoin's price falls below the crucial support of $61,000.
