XRP Grapples with Price Support at $1 Amid ETF Redemptions and Regulatory Delay

XRP is struggling to hold above $1 as it faces pressure from recent selling and a significant redemption from a major XRP ETF. The Grayscale's XRP Trust sold $180 million in XRP in the first half of 2026, signaling weak demand and resulting in about $34 million in realized losses.

The delay of the U.S. Senate vote on the CLARITY Act has also removed a potential catalyst for XRP, contributing to subdued buying interest. The upgrade to the XRP Ledger is introducing privacy features and transaction improvements, but it may not be enough to boost prices.

With over $530 million in tokenized assets hosted on the network, institutional interest is growing, but near-term price support at $1 is critical. A dip below this level could have significant consequences for XRP's price action.