XRP Slumps as Institutional Demand Remains Weak

XRP has fallen by 2.5% over the past 24 hours to trade around $1.03, underperforming the broader crypto market.

The decline of nearly 5.5% this week has left traders wondering if XRP can recover and what's behind its recent weakness.

One reason for the drop is that institutional demand hasn't fully recovered, despite a small increase in ETF inflows. On August 6, U.S. spot XRP ETFs recorded $3.45 million in net inflows after $3.58 million in net outflows the previous day.

The total assets held by U.S. spot XRP ETFs have fallen from $993.38 million to $964.21 million, indicating a continued decline in institutional exposure.