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XRP Struggles to Bounce Back as Retail Demand Fades

Guavy AI Editorial Team
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XRP
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Ripple's XRP token is struggling to recover from recent losses, trading near $1.30 as retail demand fades.

The token has been in a bearish trend since Monday's uptick to $1.50, and the United States Senate's failure to advance the CLARITY Act and the Federal Reserve's 25 basis point interest rate hike have added to its woes.

Ripple maintains that XRP is legally grounded due to its long court battle with the Securities and Exchange Commission (SEC), which established that the token is not a security.

Despite this, XRP derivatives are showing signs of softening, with futures Open Interest falling to 2.12 billion XRP on Thursday, down from 2.25 billion the day before.

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