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📅 July 3, 7:00 – July 9,
XRP Drops 3%, Solana 2% in Healthy Pullback—Bitcoin Still Eyes $112K Breakout - Crypto News Flash
Cryptocurrency markets saw selective declines on Friday as XRP fell by over 3% to $2.08 and Solana slid nearly 2**%**, landing at $141. The pullback in these two tokens stood out as broader market sentiment remained largely positive, buoyed by steady Bitcoin performance and ongoing ETF inflows.
While XRP and Solana gave up earlier weekly gains, Bitcoin hovered near $107,000. Despite minor selling, the world’s largest digital asset stayed close to its all-time high around $112,000. Other major coins such as Ethereum, BNB, Cardano, and Dogecoin dipped slightly.
These changes occurred against a backdrop of generally favorable economic signals and an easing geopolitical climate. Investors appeared to be locking in profits after a strong run earlier in the week.
ETF Inflows Help Cushion the Market
ETF-related buying continued to offer support, particularly for Bitcoin. Strong inflows into crypto investment products helped mitigate price pressures, maintaining optimism among investors. Institutional buying interest has remained steady, even as some altcoins saw price corrections.
Eugene Cheung, Chief Commercial Officer at OSL, said:
Bitcoin’s resilience stood in contrast to XRP and Solana, which had earlier climbed on optimism around regulation and improved macro data. Their recent slide is being interpreted by traders as part of a natural short-term correction.
One trader commented:
Market Confidence Remains Strong Despite Altcoin Pullback
Friday’s losses came even as inflation showed signs of slowing and hopes grew for potential rate cuts by the U.S. Federal Reserve. Economic cooling and reduced tension in the Middle East have helped maintain positive sentiment across both equity and crypto markets. The S&P 500 even reached a record this week.
Jeff Mei, COO at BTSE, noted:
He also pointed out that the Federal Reserve could move towards easing monetary policy sooner than expected.
Another factor sustaining the market outlook is regulatory clarity in parts of Asia. Hong Kong’s updated crypto guidelines have been seen as a positive step for the sector’s future.
Cheung added:
Even with the short-term weakness in XRP and Solana, wider trends continue to support crypto prices. The market hasn’t shown signs of a broader sell-off, and ETF inflows, alongside monetary policy expectations, provide a supportive backdrop.
Bitcoin’s position just below a major resistance level keeps traders on alert for a breakout. If current trends hold, a test of the $112,000 level appears within reach. Meanwhile, XRP and Solana may attract renewed interest if their prices stabilize near key support points.
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