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, Ripple coin is included among the digital assets that experienced net inflows in the past week, contrasting with Ethereum, which saw the highest outflows.

According to CoinShares’ weekly report, digital asset investment products saw a weekly inflow of $644 million, ending a five-week streak of withdrawals.

Out of the total weekly inflow, the world’s leading cryptocurrency, Bitcoin (BTC), dominated with a staggering $724 million. Meanwhile, Ripple’s XRP secured the second spot with a notable inflow of $6.7 million.

Closely following XRP is Solana, with a substantial inflow of $6.4 million. Among other altcoins, Polygon and Chainlink also saw modest gains of $0.4 million and $0.2 million, respectively.

In terms of outflows, Ethereum experienced the highest with $86 million. Other cryptocurrencies that saw outflows include Sui and Short Bitcoin, reporting $24 million and $16 million, respectively.

Moreover, altcoins like Polkadot, Tron, and Algorand have also seen outflows of $1.3m, $0.95m, and $0.82m, respectively.

Bitcoin Now Sets Trend Reversal

It’s worth noting that for five consecutive weeks, the digital asset investment products have 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.

In a statement to BlockVarsity, Morgan said:

“The Trump administration was largely focused on Bitcoin and blockchain technology, particularly in terms of its potential to disrupt the existing financial system.”

However, he believes that the Biden administration should prioritize broader crypto policy goals, such as promoting innovation and financial inclusion.

According to Morgan, the Trump administration was more interested in Bitcoin because of its role in the broader cryptocurrency ecosystem. In contrast, the Biden administration should be focused on the broader implications of crypto policy for the US economy and financial system.

He added:

“I think the Biden administration is capable of handling multiple priorities simultaneously. We can certainly have a discussion about XRP and other cryptocurrencies, but it’s also important to consider the broader implications of crypto policy.”

XRP Wins Japanese Payment Deal

Adding to the positive momentum, a Japanese real-estate firm, Open House, has introduced XRP, DOGE, and SOL for payments.

This development marks a significant step toward broader adoption of the cryptocurrency.

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 had announced crypto payments with Bitcoin and Ethereum. Now, the company has expanded its crypto payment options, adding XRP, DOGE, and SOL.