XRP Stuck Below Key $1 Support Amid Regulatory Uncertainty

XRP is struggling to join the broader cryptocurrency rebound as traders keep a close watch on its $1 support level. On August 10, XRP trades around $1.03, down from its $1.06-$1.08 resistance zone. The token's recent weakness has been attributed to regulatory uncertainty, softer institutional demand, and pressure from derivatives markets.

The CLARITY Act delay has reduced one of XRP's major short-term catalysts, while institutional demand for XRP-linked investment products has weakened. This is in contrast to Bitcoin and Ethereum, which have benefited from stronger institutional demand during the latest market recovery.

A sustained move above $1.06 could improve short-term sentiment, but a break below $1 could expose XRP to further losses. The $1 level remains the key psychological support for traders, with a decisive move below it potentially increasing selling pressure and bringing the $0.97 area into focus.