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XRP faces risk of falling below $1 as volumes pick up
XRP traded with rising activity, with 24-hour volumes up 113% to nearly $1 billion, but ETF inflows linked to XRP have continued to decline for three straight months.
XRP slid nearly 8% over the past 30 days after dipping below the $1 level, though trading volumes have picked up as the price area near $1 becomes a focus for buyers. Yahoo Finance said volumes rose 113% in the past 24 hours to nearly $1 billion, even as it noted the activity remains relatively thin versus historical levels, at about 1.5% of XRP’s circulating market cap.
The same report tied the broader trading backdrop to a slightly improved US inflation picture, saying inflation retreated by 10 basis points last week. It added that this helped reduce the odds of a September rate hike to 30%, with market expectations shifting toward the Fed possibly postponing action until December, ahead of the release of Fed minutes.
Despite the volume uptick, Yahoo Finance said XRP continues to see weakness in interest measured through net inflows to ETFs linked to the token, which have been dropping for three months in a row. It estimated a simple run rate of $6 million inflows by month-end, implying a 78% decline versus last month and a 95% drop versus May.
On-chain signals cited by Yahoo Finance included a spike in daily active addresses that could point to accumulation around $1. The outlet also said net inflows to exchanges have declined sharply while price has held, suggesting any selling pressure may have been absorbed by buyers.
Latest closeXRP $1.003 ▲0.1%