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XRP Price Plunges to $1 Amid Institutional Selling and Cooling Activity

Guavy AI Editorial Team
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Ripple's XRP token price plummeted to $1 on Monday due to declining institutional and retail investor interest. According to recent SEC filings, Grayscale's XRP Trust sold over 103 million XRP ($180.78M) in the first half of this year, indicating a significant reduction in institutional holdings.

This comes as Ripple Ledger transactions dropped by 44.1% over five days, pointing to a sharp decrease in network usage and demand. The combination of institutional selling and cooling on-chain activity has created a negative feedback loop, eroding investor confidence in XRP.

The entire crypto market fell 1.69% in 24 hours, with Bitcoin down 1.94%. XRP's steeper drop shows it is underperforming its beta.

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