XRP Hits Historic Low as Hong Kong Opens Retail Access

XRP's monthly RSI has reached its most oversold reading in history, surpassing even the March 2020 COVID crash lows. According to analyst Ash Crypto, XRP is currently down 72% from its all-time high and touched a two-year low near $1.00 last month.

Despite the price weakness, XRP spot netflow hit -$9.98M on July 29, indicating more XRP left exchanges than entered. This supply-reducing signal is a bullish undercurrent beneath bearish surface price action.

The recent opening of XRP retail trading by OSL Hong Kong, with settlement via the XRP Ledger, adds an institutional demand signal to an on-chain setup that already shows net exchange outflows.