XRP Price Plunges as Negative Sentiment Hits Three-Month High

The XRP price has been struggling to stay above $1, falling 7.8% over the past month against Bitcoin's 0.5% decline and Ethereum's 3.2% gain.

Negative sentiment about XRP has reached a three-month high on platforms such as Twitter, Reddit, and Telegram, according to Santiment.

This spike in negativity is accompanied by a rise in participation on the XRP Ledger, with 49,929 active addresses recorded in a single 24-hour span on August 14, its highest count since June. However, two-thirds of these transactions were automated bot orders rather than actual XRP transfers.

The collapse of XRP ETF inflows by 96% from launch to $3.27 million in August is also a worrying sign for the asset's price action.