$XRP ETF Application Withdrawn by CoinShares — What’s Happening? 🔍
CoinShares has withdrawn its $XRP spot ETF application, citing intense U.S. market competition rather than regulatory issues. The move reflects growing fee pressure among ETF issuers.
Market Snapshot
💵 XRP at $2.19 (-1.09% 24h, +6.8% weekly)
📊 Trading volume: $2.07B
🏦 Market cap: $132.7B, ranked #4
🔄 Exchanges saw $798K net outflow, hinting at accumulation
Technical Outlook
XRP is consolidating between $2.15 support and $2.22 resistance
Break above $2.25 could open a run toward $2.44
RSI remains neutral; mixed MACD signals suggest caution
Why It Matters
CoinShares is shifting toward higher-margin products amid ETF fee wars
Despite withdrawal, institutions bought $21.8M worth of XRP recently, pushing total ETF-held XRP to $676M
On-chain data is mixed: declining activity but falling exchange supply
