XRP Slips Below $1 Amid Cooling Market Momentum

XRP is showing signs of weakness after a recent rally. The price dropped by 3.44 percent over the last 24 hours to hover right around the $1 mark. This decline pushes its total losses for the week to roughly 6.4 percent as the initial excitement around the asset begins to fade.

Several factors contribute to the current slump. Interest in potential XRP exchange traded funds has cooled down significantly, and overall network activity is slowing. On top of that, a wave of long liquidations has forced many traders out of their positions, which adds extra downward pressure on the price.

Market participants are now bracing for incoming United States inflation data. This information often triggers volatility across all digital assets. Traders are closely watching the $1 support level to see if it holds or if the price will slide further down in the coming days.