XRP Price Plummets Below Triangle Support, Evernorth Urges Focus on Utility

XRP's price fell by 1.29% on August 6, breaking below its triangle support level and dropping to $1.0476.

The Bollinger Band is now at $1.0362, which serves as the last technical buffer before XRP reaches the $1 floor.

Spot XRP ETFs saw a significant outflow of $3.58M on August 5, with Bitwise absorbing the full loss.

Evernorth's Chief Business Officer emphasized that XRP should be evaluated based on its utility and adoption rather than its trading price.