XRP Price Declines Amid Robust Institutional Inflows and Regulatory Push
XRP has experienced a significant price decline of 7.32% over the last 24 hours, but its spot exchange-traded funds (ETFs) have seen substantial inflows of $1.73 billion to date, with September's net inflows totaling $61.87 million.
Despite the recent price drop to $1.50, institutional investors remain interested in XRP-backed products, which has led to a divergence between market price performance and ETF inflows.
Crypto analyst CRYPTOWZRD notes that reclaiming the resistance level of $1.5300 could help XRP regain momentum, but continued failure to break above this level may lead to heightened volatility.
The Commodity Futures Trading Commission (CFTC) is also advancing crypto regulation initiatives, with chairman Michael Selig stating that the agency is using its existing authority to establish a comprehensive regulatory framework for crypto assets in the United States.