XRP experienced a 5% decline last week while major cryptocurrencies surged.
By Omkar GodboleUpdated 22 min agoPublished 34 min ago2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on XRP fell over 5% last week while other major cryptocurrencies gained. (Jakub Żerdzicki/Unsplash)SummaryShow- Last week, XRP dropped about 5% to around $1.03, while bitcoin, ether, and solana saw increases ranging from 1% to 4%. The overall crypto market grew by 1.4%.
- Although XRP-focused exchange-traded funds (ETFs) recorded net inflows for the fourth consecutive week, the amount decreased significantly, dropping approximately 93% to about $1 million, in contrast to the hundreds of millions attracted by bitcoin and ether funds.
The cryptocurrency XRP, which centers on payment solutions, saw a decline of about 5%, settling around $1.03 last week, in stark contrast to the gains made by bitcoin BTC$64,942.61, ether ETH$1,914.06, and solana (SOL), which rose by 1% to 4%. The broader cryptocurrency market experienced a 1.4% increase, lifting the total market capitalization to $2.19 trillion.
This underwhelming performance is surprising, especially since XRP-related ETFs have continued to draw in net capital for four weeks. However, these inflows have drastically slowed, diminishing by about 93% week-over-week to around $1 million, according to SoSoValue data. In contrast, bitcoin and ether funds attracted hundreds of millions of dollars.
Market participants and analysts on platforms like X attribute the lack of momentum in XRP’s price to several interconnected factors. Chief among these is regulatory uncertainty; the Senate has postponed discussions on the CLARITY Act, a piece of legislation that many believe is crucial for clarifying XRP's regulatory status and facilitating greater institutional investment. A vote on this matter is not anticipated until at least mid-September.
As for market dynamics, the current flow appears balanced.
“XRP's positioning seems to be patient in its own right, with order flow remaining significant even as volume metrics appear neutral — indicating quiet absorption rather than capitulation or a definitive breakout,” commented Iliya Kalchev, an analyst at Nexo, in an email.
Despite the current challenges, long-term projections remain optimistic.
Jake Claver, a qualified family office professional (QFOP) and chairman of Digital Ascension Group, a multi-family office focusing on digital assets, suggested that XRP is increasingly poised to play a structural role in global finance. “XRP is looking more and more like it will claim its spot as a global bridge asset and possibly be recognized by the Bank for International Settlements (BIS) as a tier-one asset in the future,” Claver stated, referring to the BIS's highest classification for the most liquid and stable assets that banks can hold.