Firelight Protocol Introduces Staking Rewards for XRP Holders

XRP's price has seen a pullback this week, trading at $2.18, which reflects an 8.5% increase over the last 24 hours but a slight 0.8% decline on a weekly basis. Analyst Egrag Crypto's technical analysis indicates that despite the recent downturn, XRP remains above the key 21-EMA on the monthly chart, suggesting a potential long-term bullish trend towards $13.

Bitcoin is currently experiencing a tactical rebound, with its price hovering around $91,000 after a significant sell-off. Analysts are observing key resistance levels as bulls attempt to push back against bearish trends, raising questions about the sustainability of this upward movement.

Firelight has launched XRP staking on the Flare network, aiming to enhance risk management in decentralized finance (DeFi) and potentially increase institutional trust in XRP. This initiative is expected to expand the utility of XRP within the DeFi ecosystem.

Recent on-chain data indicates that Dogecoin whale transactions have plummeted to a two-month low, with only four large transactions recorded in a single day. This significant decline in whale activity has coincided with the meme coin testing critical support levels, raising concerns about the future price trajectory of Dogecoin.

Spot XRP exchange-traded funds (ETFs) have achieved a remarkable inflow streak, nearing $1 billion over 12 consecutive days, reflecting a significant surge in institutional interest in XRP. This trend highlights the growing acceptance and demand for cryptocurrency investment products in the market.

XRP Exchange-Traded Funds (ETFs) have attracted approximately $756 million in inflows, even as the token's price drifts toward the $2 mark, indicating a shift in supply from retail investors to institutional players. This divergence between ETF inflows and spot prices suggests a strategic repositioning among traders seeking higher returns in the current market environment.

Bitcoin's price surged past $93,000, recovering from a recent dip to $84,400 earlier this month, indicating a potential upward momentum towards the $100,000 mark. Analysts, including Michaël van de Poppe and Nick Ruck, emphasize the importance of maintaining this price level to foster further gains.

CME Group has launched new cryptocurrency benchmarks for Bitcoin, Ether, Solana, and XRP, including a VIX-style Bitcoin volatility index aimed at providing standardized pricing and risk measures for institutional investors. This initiative is part of CME's ongoing efforts to enhance the trading environment for digital assets.