XRP Price Sinks Below Triangle Support as ETF Outflows Intensify

XRP's price has dropped below the critical triangle pattern support, falling to $1.0476 on August 6. This marks its fourth consecutive day of losses and brings the asset closer to the psychologically important $1 threshold.

The Bollinger Band's lower edge at $1.0362 now serves as the last significant technical support before XRP reaches this level. The digital asset is currently trading around 71% below its record peak of $3.65 established on July 17, 2025.

XRP spot exchange-traded funds experienced net outflows of $3.58M on August 5, marking the first negative trading day since July 8. Technical analyst ChartNerd noted that August tends to be a weak month for XRP, but suggests that any late-month pullback may offer strategic entry points.