Ripple Expands While XRP Stuck at $1.09

XRP is currently trading at $1.09, just 7.71% above its 52-week low of $1.01 set in June. Despite Ripple's continued expansion and regulatory milestones, institutional demand has dwindled, leaving the token stuck in a narrow consolidation range.

The spot ETF data shows that XRP ETFs have seen only $12.4 million in inflows for July, with weekly averages dropping to around $8 million. This decline in buying pressure is mirrored by a decrease in retail interest, as search queries for XRP have also declined.

Ripple's operational progress continues unabated, however, with the launch of Ripple Mint and the expansion of RLUSD's reach to various networks. The company has also secured a full crypto service provider license in Europe, allowing it to offer regulated services across the EEA.