XRP traded near $1.05 on Aug. 6 after extending its decline for a fourth consecutive session, leaving the token close to the psychological $1 support level.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n According to crypto.news market data<\/a>, the token traded within a 24-hour range of $1.04 to $1.07, falling 1.1% during the period and 64.3% over the past year.<\/p>\n The token\u2019s market capitalization stood near $65.5 billion, while daily trading volume was about $1.28 billion. XRP remains roughly 71% below its July 17, 2025 record of $3.65. The scale of that decline leaves the market testing the foundation of the breakout that carried XRP above $1 in late 2024.<\/p>\n <\/p>\n The $1 area has repeatedly limited XRP\u2019s downside since November 2024. Price spent much of February through June between roughly $1.18 and $1.55 before losing the lower edge of that range. Since then, buyers have defended a narrower band between $1 and $1.18, but each rebound has struggled to establish a higher high.<\/p>\n A daily close below $1 would not guarantee an immediate fall toward $0.50. It would, however, place the token below the base of its earlier recovery and expose lower chart levels. As previously reported in earlier XRP support analysis<\/a>, traders have identified $0.85 and $0.70 as deeper areas if the psychological floor fails.<\/p>\n The latest chart supplied for this analysis shows immediate support near $1.04 to $1.05. Former support around $1.055 to $1.06 has also become short-term resistance following the recent trendline break. A rejection from that area could return attention to $1 and $0.96.<\/p>\n The larger trend remains weak. XRP has recorded lower highs since reaching $3.65 in July 2025, while several consolidation periods have failed to create a lasting recovery. Longer-term XRP market analysis<\/a> has also documented the gap between Ripple\u2019s business expansion and the token\u2019s declining market value.<\/p>\n U.S. spot XRP exchange-traded funds recorded $3.58 million in net outflows on Aug. 5 after muted activity during the previous session. The withdrawal came while XRP traded near the bottom of its daily range. Although modest relative to cumulative fund inflows, the latest figure adds to evidence that institutional demand has slowed.<\/p>\n Earlier in July, XRP funds ended a nine-week inflow streak and recorded several sessions with no net movement. In recent ETF demand coverage<\/a>, the token remained weak even when regulated funds continued absorbing supply. ETF purchases alone have not been strong enough to reverse the wider downtrend.<\/p>\n The weakness also comes despite progress by Ripple. The company received full authorization under the European Union\u2019s Markets in Crypto-Assets framework on July 6. Ripple<\/a> said its Luxembourg license permits regulated crypto services across all 30 European Economic Area countries.<\/p>\n\n
XRP price faces its most important support test<\/strong><\/h2>\n
ETF outflows weaken a U.S. demand signal<\/strong><\/h2>\n
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