XRP News Today: Ripple Coin and Bitcoin Dominate the $644M Weekly Inflow

XRP and Bitcoin dominate the $644 million weekly outflow, with BTC becoming the biggest gainer of the week.
By Nynu V Jamal
XRP News Today: Ripple XRP News Today: Ripple Coin and Bitcoin Dominate the $644M Weekly Inflow

Highlights

  • XRP and Bitcoin dominate the $644 million weekly inflows.
  • While Bitcoin marks an inflow of $724 million, XRP gains $6.7 million.
  • A Japanese firm accepts XRP for payments, along with DOGE and SOL.

Ending a five-week streak of withdrawals, digital asset investment products saw a weekly inflow of $644 million. XRP and Bitcoin dominate the positive sentiment, marking a combined net inflow of $730 million. In the latest XRP news, the Ripple coin secured the second spot, contrasting with Ethereum, which experienced the highest outflows.

Let’s analyze the positive momentum of XRP and BTC, and explore its potential impact, especially in light of their ongoing rivalry.

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XRP News: Bitcoin and Ripple Coin Lead Weekly Inflows

According to CoinShares’ weekly report, the digital asset investment products marked a total inflow of $644 million. While Bitcoin dominated the inflows with a staggering $724 million, XRP ranked second with a notable inflow of $6.7 million.

Closely following XRP is Solana, with a notable inflow of $6.4 million. Other altcoins like Polygon and Chainlink have also seen modest gains of $0.4 million and $0.2 million, respectively.

Notably, Ethereum is the largest loser with a weekly outflow of $86 million. Sui and Short Bitcoin have also experienced significant outflows. Altcoins including Polkadot, Tron, and Algorand have also reported outflows of $1.3m, $0.95m, and $0.82m, respectively.

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Bitcoin Sets Trend Reversal

For five consecutive weeks, the digital asset investment products had experienced a negative sentiment, marking significant outflows. Although Bitcoin bore the brunt of the outflows, it has now become the trendsetter, emerging as the biggest gainer of the week.

This development occurs amidst the increasing rivalry between XRP enthusiasts and Bitcoin maximalists. As XRP’s potential inclusion in the US reserve has sparked intense debate, Bitcoin manages to maintain its positive sentiment. Recently, XRP lawyer Bill Morgan highlighted the Trump government’s lean towards Bitcoin, asserting that it could undermine the country’s crypto initiatives.

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XRP Wins Japanese Payment Deal

Adding intrigue to the prevailing positive sentiment, a Japanese real-estate firm, Open House, has embraced XRP, DOGE, and SOL for payments. This marks a significant milestone for XRP’s adoption.

Amidst the ongoing Bitcoin vs XRP debate, Bill Morgan ridiculed BTC for being snubbed by the company, which instead chose XRP, along with Dogecoin (DOGE) and Solana (SOL). His tweet read, “But not Bitcoin for payments?”

However, his tweet was promptly contradicted as Open House previously selected BTC and ETH for payments. In January, the real-estate firm embraced debuted crypto payments Bitcoin and Ethereum. In the latest development, the company expanded its crypto payment options, including XRP, DOGE, and SOL.

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Nynu V Jamal
Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape. Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master's degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet. Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn
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