XRP Price Slumps Near $1 as ETF Demand Fades
XRP's price has been declining for four consecutive sessions, and it is now trading near its psychological support level of $1. On August 6, XRP traded at around $1.05, with a 24-hour range of $1.04 to $1.07.
This decline comes after the token's market capitalization fell by 64.3% over the past year and its daily trading volume decreased to about $1.28 billion.
According to market analysts, if XRP's price falls below $1, it would not guarantee an immediate drop to $0.50, but it would expose lower chart levels and potentially lead to deeper declines.
The token's larger trend remains weak, with lower highs since reaching a record high of $3.65 in July 2025. Additionally, the gap between Ripple's business expansion and XRP's declining market value has been documented in longer-term analysis.