XRP Price Decline Continues Amid Macro Headwinds and Regulatory Uncertainty
XRP's price decline continued for a second straight session on August 5, as traders weighed the impact of a stronger US dollar and rising Treasury yields against improving fundamental developments around the XRP Ledger.
The token's value fell to $1.0649, down 0.73% over the past 24 hours, according to CoinMarketCap data.
Despite technical indicators flashing caution, Ripple has made strides in Europe, securing a Crypto-Asset Service Provider authorization from Luxembourg's Commission de Surveillance du Secteur Financier, granting 'passporting' rights across the European Economic Area.
The company's longer-horizon ambitions remain centered on institutional payments and tokenization, an addressable opportunity it has framed as a $300 trillion market.