XRP Slumps Amid Geopolitical Tensions, But Whale Accumulation Stabilizes

Ripple's XRP token fell for the second straight day on Thursday, trading at $1.37 as investors weighed the impact of geopolitical tensions in the Middle East and the release of the Consumer Price Index (CPI) report by the United States Bureau of Labor Statistics.

According to a K33 Research report, Thursday's PPI and Friday's CPI releases are key volatility catalysts for the crypto market, while the September 15 Senate cloture vote on the CLARITY Act adds a crypto-specific risk event.

XRP has seen growing capital inflows since its rally to $1.70 in August, with wallets holding between 100,000 and 1 million XRP accounting for roughly 9.4% of the total circulating supply on Thursday, up from about 9.3% on September 3.

Institutional demand for US-listed spot Exchange-Traded Funds (ETFs) has also increased to $12 million on Wednesday, from $1.5 million the previous day.