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Crypto

XRP Price Tanks on Institutional Selloff and Regulatory Delay

Guavy AI Editorial Team
Instruments
XRP
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Ripple's XRP token has dropped 3.04% to $1.03 on Thursday, widening the gap between its market rate and the price target set by crypto traders.

The decline is largely due to a reversal in institutional demand for spot XRP ETFs, which recorded a $3.58 million net outflow on August 5.

This setback has removed a key source of buying pressure and technical selling has compounded the negative price move.

Traders are closely watching whether ETF outflows continue, with the $1.00 psychological support level becoming a critical benchmark for XRP's price movement.

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