XRP Price Dives Despite Surging ETF Inflows and Stablecoin Growth

XRP's price has pulled back sharply over the past few days, dropping from its monthly high of $1.6930 to $1.3955. This decline is part of a broader weakness across crypto markets, with Bitcoin and Ethereum also experiencing pullbacks.

However, XRP's ETF inflows have accelerated this month, with spot XRP ETFs adding $26.2 million in assets on Friday, bringing the weekly gains to $110 million. This surge has pushed total ETF inflows to a record-breaking $153 million in August, outperforming May's previous high of $131 million.

The growth trend may continue as Ripple USD (RLUSD) stablecoin has now accumulated more than $2.32 billion in assets, with the portion issued directly on the XRP Ledger crossing the $1 billion mark this week.