XRP Struggles to Hold Support at $1 Amid Mixed Market Signals

XRP's price has been testing $1 support amid mixed signals from the market. The cryptocurrency traded near $1.02 on August 11, a key psychological and cost-basis level, following a 4.65% weekly decline.

Futures open interest rose to $2.72 billion, indicating aggressive short positions, while exchange withdrawals hit a five-year high, suggesting accumulation or active use in the XRP Ledger ecosystem.

XRP spot ETF inflows remain small and erratic, providing little price support, but SBI Holdings' $41.2 billion exposure offers a strong institutional backstop.

The market is divided, with potential for either a short squeeze rally or a breakdown below $1 depending on volume and funding rate shifts.