XRP News Today: Cold Wallet Raises $5.7M Amid SHIB 9% Drop and XRP Consolidation

The crypto market remains under pressure as key tokens struggle to gain upward traction. Shiba Inu (SHIB) fell 9% this week to $0.00001276, its lowest level since July 10, despite a massive 600 million token burn, which pushed the weekly burn rate up by 16,710%. The price remains stuck in a narrow range between $0.000013184 (resistance) and $0.000012663 (support), with no clear direction emerging. A short-lived rally saw trading volume spike to 43.5 billion tokens, and SHIB posted a 0.25% gain in the final hour, but broader bearish sentiment continues to dominate [1].

XRP (XRP), on the other hand, remains in a consolidation phase, trading between $3.04 and $3.17 as of July 31. A rejection at $3.179 led to a red candlestick formation, suggesting a brief pause in the upward trend. While a move above $3.18 could signal a stronger bullish momentum and potentially push the price toward $3.40 or $3.66, a failure to break this level may result in a pullback toward $3.00 or even $2.80. With a market cap of $185.2 billion and a 24-hour volume of $5.3 billion, the XRP price forecast remains cautious [2].

Amid the volatility, Cold Wallet has emerged as a standout performer. The self-custody crypto wallet is generating significant interest by rewarding users with its native token, CWT, for everyday activities like swapping or bridging assets. In Stage 16 of its 150-stage presale, Cold Wallet has already raised over $5.7 million, with a listing price of $0.3517 suggesting a potential 4,900% return for early investors. The project recently acquired Plus Wallet for $270 million, bringing 2 million new users into its ecosystem. This aggressive expansion and investor enthusiasm indicate Cold Wallet is positioning itself for long-term success in a competitive market [3].

The broader implications of these developments highlight a shifting market dynamic. SHIB’s lack of response to large-scale token burns underscores the limitations of supply-side tactics in driving price action. XRP remains in a critical phase, where a clean breakout could reverse the current trend, but until that happens, volatility is likely to persist. Meanwhile, Cold Wallet’s rapid fundraising and whale activity signal growing confidence in a model that seeks to disrupt traditional crypto wallet economics by turning user activity into a revenue-generating feature.

As 2025 approaches, Cold Wallet’s model could represent a new frontier in crypto utility, blending financial incentives with user engagement in a way that aligns with broader trends in decentralized finance. For investors, the next few weeks will be crucial in determining whether XRP can break out of its consolidation phase and whether SHIB can regain momentum after a prolonged decline. In the meantime, Cold Wallet’s rapid rise positions it as one of the most closely watched projects in the space [4].

Source:

[1] [SHIB Dips Despite 600M Burn, XRP Hovers Near Breakout, and Cold Wallet Pulls In $5.7M in Record Time as Whales Move In!](https://coinmarketcap.com/community/articles/689238250cbaa3747bd5aa24/)