XRP Price Plunges Despite Surging ETF Inflows and Stablecoin Gains

XRP has experienced a sharp decline over the past few days, falling from its monthly high of $1.6930 to $1.3955.

This pullback is part of broader weakness in crypto markets, including drops in Bitcoin and Ethereum.

Despite this decline, XRP ETF inflows have accelerated, with spot XRP ETFs adding $26.2 million in assets on Friday, bringing the weekly gains to $110 million.

XRP ETFs have now added $153 million in August, the best monthly performance this year, and have had a cumulative inflow of $1.66 billion since their inception in November last year.

The XRP Ledger is also gaining traction in the stablecoin industry, with Ripple USD (RLUSD) accumulating over $2.32 billion in assets, including more than $1 billion issued directly on the XRP Ledger.