XRP Price Under Pressure as Sellers Dominate Market

XRP's price has been struggling to find support amid strong selling pressure. The cryptocurrency is currently trading at $1.0516, down 1.73% from its previous value. Despite this decline, XRP's market capitalization remains relatively stable at around $1 billion.

The recent uptick in institutional demand for regulated XRP exposure has been a key driver of adoption. U.S. spot XRP ETFs have seen four consecutive days of positive or flat flows, adding $1.15 million on August 3 and reaching about $1 billion in assets.

Ripple's efforts to secure regulatory approvals are also contributing to the growth of XRP's ecosystem. The company has obtained a MiCA license for regulated crypto payments across 30 European countries, while the XRP Ledger has expanded its interoperability with over 80 blockchains via Axelar connectivity.