XRP Slumps Near $1.00 Amid Low Institutional Interest

XRP is trading near the $1.00 level after experiencing three consecutive days of losses. The token's price is being affected by a potential deal between the US and Iran to reopen the Strait of Hormuz.

Institutional interest in XRP remains low, with muted activity on Tuesday and mild inflows of $1.15 million on Monday. According to SoSoValue, cumulative inflows are holding steady at $1.51 billion and total assets under management at $1.00 billion, indicating a positive long-term outlook.

Retail demand has improved slightly to 2.14 XRP, but the chart shows a general downtrend from 2.37 billion XRP in July.