XRP traded around $1.09 on July 29, slipping even as much of the crypto market staged a relief rally. The token’s muted reaction stood out because Bitcoin, Ethereum, and several decentralized finance names all moved higher on improving macro risk sentiment.
The more important number for investors may be outside the price chart: US spot XRP ETFs have attracted only $12.3 million in net inflows for July. That compares with $59 million in June and $131 million in May, a sharp slowdown in one of the few demand channels that had been supporting the token.
With XRP still roughly 70% below its early-2026 peak of $3.65, the market is confronting a difficult question. Stronger corporate execution, regulatory progress, and steady whale accumulation have not yet translated into sustained buying of the token itself.
Key Facts
- XRP traded at about $1.09 with 24-hour volume of $853.3 million and a market capitalization of $67.9 billion.
- US spot XRP ETFs recorded $12.3 million of net inflows in July, down from $59 million in June and $131 million in May.
- XRP remains below its 20-day EMA of $1.11, 50-day EMA of $1.14, and 200-day EMA of $1.44.
- Total 24-hour liquidations reached $3.94 million, including $3.80 million of long positions versus $136,120 of shorts.
- The next scheduled XRP escrow release is due on August 1, with monthly net emissions typically estimated at 200 million to 500 million tokens after re-locking.
XRP Price and ETF Demand
XRP’s underperformance matters because it came during a session when risk appetite improved across digital assets. Bitcoin rose to roughly $65,091, Ethereum climbed near $1,960, and several DeFi-linked tokens posted stronger gains. When a large-cap token fails to participate in a broad move higher, investors typically read that as a sign of token-specific weakness rather than a macro problem.
The clearest pressure point is ETF demand. Seven US spot XRP ETFs now hold about $1 billion in assets and 977.4 million XRP in custody, equal to roughly 1.55% of circulating supply. Cumulative net inflows since launch stand near $1.49 billion, but the monthly pace has faded sharply. July’s $12.3 million intake suggests institutional buying has slowed from a structural tailwind to a marginal support factor.
That shift has real implications for price discovery. XRP’s scheduled supply dynamics are widely understood and have become less of a shock to the market over time, but they still require steady absorption. If ETF inflows weaken while supply continues to rise gradually, the market loses one of its most visible offsetting demand sources. That leaves XRP more dependent on speculative trading, bridge-currency usage, and broader altcoin rotation.
When a broad crypto rebound leaves XRP behind, investors have to assume the market is questioning token-specific demand rather than the macro backdrop.
Technical Pressure and Supply Mechanics
The technical setup remains fragile. XRP is trading below all major moving averages, with resistance clustered at $1.10 to $1.11 and a more significant barrier around $1.14. Momentum indicators have also softened: the daily RSI near 45.55 sits below the midpoint without signaling a deeply oversold condition, while the MACD has flattened, pointing to a lack of conviction from both buyers and sellers.
Support appears thin near $1.08 and $1.07, with June’s low around $1.03 still in view if selling pressure resumes. The liquidation data also suggest positioning is skewed toward a rebound that has not materialized. Long liquidations vastly outpaced short liquidations over the past 24 hours, indicating that bullish traders remain vulnerable if price breaks key support levels.
Beyond the chart, supply remains a central variable. XRP’s circulating supply is about 63 billion tokens, with additional holdings locked in escrow and released on a published schedule. Ripple has historically re-locked much of each monthly release, keeping net emissions below the headline figure. Even so, if ETF demand remains muted, the market may have to absorb a larger share of newly available tokens without the same institutional bid that helped stabilize the asset earlier in 2026.
Implications for Investors
For investors, XRP presents a mixed setup. On one side, the token has meaningful regulatory advantages compared with many other altcoins, and large holders have continued accumulating through the drawdown. Wallets holding at least 10,000 XRP have climbed to record levels, while exchange balances have remained subdued, suggesting a notable share of supply is being moved into longer-term custody rather than kept available for immediate sale.
On the other side, token performance continues to lag improvements in the broader Ripple ecosystem. Stablecoin infrastructure, institutional partnerships, regulated market access in Europe, and XRP Ledger development have expanded, but the value-accrual case for XRP remains under debate. That matters for portfolios because network activity and corporate progress do not automatically translate into stronger demand for the native token.
Near term, investors should monitor a narrow set of catalysts. The first is ETF flow data: a sustained pickup back above recent July levels would be a more meaningful bullish signal than isolated inflow days. The second is price behavior around $1.11 and $1.14, where XRP needs to reclaim technical ground to improve sentiment. The third is the August 1 escrow event, which may draw added attention if broader crypto liquidity weakens again.
Macro conditions also remain relevant, especially for a token that has been highly sensitive to shifts in risk appetite. Federal Reserve expectations, inflation data, and Bitcoin dominance could shape whether capital rotates into altcoins or stays concentrated in larger, more liquid names. If Bitcoin dominance remains elevated, XRP may continue to struggle even if the wider market avoids a deeper selloff.
XRP is entering August with a strong regulatory backdrop but a fading demand impulse. Unless ETF flows improve or buyers decisively reclaim nearby resistance, the token may remain trapped in a narrow range with downside risk toward prior support levels.