XRP Price Drops to $1.34 Amid Profit-Taking and Market Volatility

XRP's price took a hit on Wednesday, dipping to $1.34 as profit-taking and shifting market sentiment weighed on cryptocurrencies across the board.

The token had surged in August, rising from $1.00 to a high of $1.70 before the recent correction.

Despite this slowdown, XRP-focused exchange-traded funds (ETFs) continued to attract investment, with net inflows reaching $14.38 million on Tuesday and marking 11 consecutive days of steady investment.

Retail and derivatives trading demand slightly decreased in the past 24 hours, falling by 2.5% to a total of $3.04 billion, indicating that traders may be looking to limit risk during the market correction.