XRP Slides Amid Dollar Strength, Regulatory Uncertainty

XRP continued to struggle on August 6 as investors remained cautious due to a stronger US dollar and rising Treasury yields. The token declined by roughly 2.2% to 2.4% over the past 24 hours, with its price hovering around $1.04-$1.05.

The decline in XRP's value was also attributed to uncertainty surrounding the CLARITY Act and slowing institutional demand. Analysts noted that a move above $1.10 would be needed to improve the short-term outlook for the token.

Despite this, on-chain data suggests that larger holders are accumulating XRP during periods of weakness, helping prevent a sharper decline in its value.