XRP Price Slumps Amid Sustained Investor Selloffs and Regulatory Uncertainty

XRP's price has been struggling to gain momentum, currently trading at $1.03 after capping below $1.10 in recent weeks due to sustained retail and institutional investor selloffs.

The token faces a risk of falling below $1 if the support level breaks amidst negative crypto market performance, which has been flat at $2.31 trillion according to the latest update from exchanges.

XRP's price movement has consistently ignored Ripple's efforts to enhance its footprint in cross-border payments and tokenisation, treating partnership deals as 'sell-the-news' in the absence of strong investor and market conviction.