XRP Price Holds Steady Near $1 Amid Weaker Trading Activity

XRP's price hovered near $1 in August after Q2 data showed strong growth in stablecoins, but weaker trading activity. The XRP Ledger saw a record tokenized asset value of $4.46 billion, while transferable assets fell to $386.1 million.

The native XRPL stablecoin supply rose 195% to $825.5 million, driven mainly by RLUSD. However, despite inflows of $253.6 million into XRP exchange-traded products, trading volumes and ledger activity declined significantly, with the XRP price down nearly 20% in Q2.

Ripple's CEO Brad Garlinghouse has softened his stance on a potential IPO after legal hurdles cleared, moving from opposition to a more neutral position. The company's future growth depends on increased ledger usage and approval of new lending features on XRPL.