XRP Price Slumps Amid Hawkish Fed Comments and Leveraged Selling
XRP's price has been experiencing a disconnect from its fundamentals, with institutional demand reaching new heights while the token itself faces downward pressure.
The spot market has seen XRP trade at around $1.36 per unit, down 2.6% on the day and 11% on the week, despite a strong influx of funds into XRP-based exchange-traded funds (ETFs).
Ripple's institutional expansion continues to gather pace, with the company launching a new delta-one desk offering total-return swaps on US equities, indices, and digital assets, aimed at hedge funds and asset managers.