Crypto
XRP Market Plunges Below $1.04 Amid Widespread Loss of Momentum
The XRP market has entered a period of significant decline, with its price retesting previous lows at $1.04.
This downward trend has also affected XRP ETFs, which have recorded their first withdrawal in a month, totaling $3.58 million.
According to SosoValue data, the net outflow was solely covered by Bitwise, one of the largest XRP ETF issuing companies.
The withdrawals from XRP funds have sparked concerns among market participants, suggesting that institutional investors are losing interest in the asset while trading with caution.