XRP remained under pressure on Thursday, falling nearly 2% over the past 24 hours to trade around $1.02, as weak market sentiment continued to weigh on the token despite renewed institutional interest through U.S. spot exchange-traded funds (ETFs).
Over longer timeframes, XRP is down approximately 4.71% over the past week and 6.06% over the past month, according to CoinMarketCap data.
XRP held a market capitalization of $64.27 billion, while its 24-hour trading volume reached $1.50 billion, up 15.89% from the previous day. A volume-to-market cap ratio of 2.34% indicates subdued trading velocity as market participants exercise caution.
Broader market weakness adds pressure
XRPs intraday decline coincided with broader weakness across benchmark assets. Bitcoin (BTC) went down 0.66% in the 24 hours to about $64,295 and Ethereum (ETH) dropped 0.26% to around $1,902.
Bearish sentiment was also reflected in the derivatives market. According to CoinGlass data, XRP recorded approximately $9.6 million in liquidations over the past 24 hours, with long positions accounting for more than $9.48 million compared with only about $120,000 in short liquidations.
Across the broader crypto market, total liquidations reached $151.77 million during the same time with $88.80 million in long bets and $62.96 million in short bets showing more stress on people who use borrowed money.
ETF flows turn positive again
In contrast, institutional demand showed signs of recovery, although it was not enough to reverse XRP’s downward trend.
According to SoSoValue, U.S. spot XRP ETFs recorded a net inflow of $3.45 million on August 6, reversing the $3.58 million net outflow reported a day earlier. The inflows were led by Bitwise’s XRP ETF, which brought in $2.89 million Franklin Templeton’s XRPZ ETF, which added $561,560. ETFs from Canary Capital, 21Shares, and Grayscale, did not have any gains that day.
Total ETF trading volume was $13.66 million. The total value of all U.S. Spot XRP ETFs was $964.21 million, which is about 1.49% of XRP’s total value. Although the latest data points to continued institutional interest, investors appear to be buying selectively rather than aggressively after several weeks of mixed ETF flows.
Key macro and fundamental drivers
XRP’s market outlook is anchored by a mix of regulatory uncertainty and technical advancements. The US Senate’s decision to postpone its vote on the CLARITY Act until after its August recess leaves institutional investors in a wait-and-see stance until September 2026 at least, even as the bill promises regulatory clarity for digital assets.
Offsetting this legislative pause, the XRP Ledger is rolling out its core node upgrade (xrpld v3.3.0), bringing institutional-grade features like Batch Transactions, Permission Delegation, and Confidential Transfers for Multi-Purpose Tokens (MPTs). These protocol updates directly target enterprise decentralized finance and real-world asset (RWA) tokenization, reinforcing infrastructure partnerships like Ripple’s initiative with Archax.
At the same time, on-chain metrics highlight a growing divergence between large-holder activity and short-term price action. Santiment data indicates that whale wallets holding at least 1 million XRP increased their balances by 2.8% over five weeks, a reflection of sustained accumulation by major participants. However, this smart-money accumulation contrasts with weak momentum indicators: the Relative Strength Index (RSI) sits near oversold territory at 37.08, while the MACD histogram remains negative at -0.0031.
Can XRP hold above $1?
On-chain data points to weakening participation from large investors.
In a post on August 3 the crypto analyst Ali Martinez (Ali Charts) said that $1.06 is the important level for XRP to stay above. According to his analysis if it stays above that price people who want prices to go up could aim for $1.35 and $1.64. If it goes below that XRP might drop more toward $0.80 and maybe even $0.62.
The $1.00 level is now the key support to watch. If buyers manage to defend it, XRP could attempt a recovery toward $1.05. However, a break below $1.00 may increase the risk of a decline toward the $0.90-$0.92 range.
Also Read: Ripple Mints 811,026 RLUSD on XRP Ledger
