XRP Price Plunges as ETF Inflows Dry Up Amid Hawkish Fed

XRP's price has been under pressure due to the lack of new investments in its related exchange-traded funds (ETFs). The data from SoSoValue shows that net inflows into these funds ended in positive territory last month only because investors poured $13 million into them between July 30 and 31. This influx was enough to keep the figure from turning negative, a first since March this year.

The current macroeconomic landscape is not favorable for altcoins like XRP. The Federal Reserve's hawkish stance has depressed market projections for risky assets, with a 55% chance of a rate hike in September, according to FedWatch data. This has capped the latest rally across the crypto market, leaving only specific projects like Hyperliquid (HYPE), Uniswap (UNI), and Pump.fun (PUMP) unscathed.