XRP Pulls Back to $1.50 After Reaching Seven-Month High

XRP's price has pulled back to $1.50 after reaching a seven-month high of $1.66, trimming its weekly gain by 15.6%.

The token's price has been driven up by whale accumulation and ETF inflows, with large holders buying 1.54 billion XRP worth $2.2 billion in the past 96 hours, and spot XRP ETFs gathering $1.73 billion in cumulative inflows.

However, Ripple's escrow releases add 200 to 400 million tokens a month, which could put pressure on the token's price if buying is not sustained.

The macro backdrop has also played a role in XRP's pullback, with the 10-year Treasury yield reaching its highest level since July 2007 and the 30-year rate hitting a peak not seen since June 2004.