“The cryptocurrency XRP collapsed to a new local low at the $1.02 mark,” — this is how analysts comment on the deep decline of the sixth-largest digital asset, which returned to values last seen in mid-November 2024. Moreover, experts believe that the prolonged downturn following last year’s peak of $3.65 is exacerbated by both a general cooling of the crypto market and a sharp weakening of net inflows into US spot XRP-ETFs.

As market researchers stated — “This can be tracked by the performance of the funds, which, after multimillion-dollar inflows at the end of last year, faced net outflows in March and managed to attract a modest $31.32 million in June.” But they further clarified that this does not mean a complete collapse of the ecosystem, as the current fluctuations occur against the backdrop of a massive wave of long position liquidations worth $42 million, which also affected Bitcoin as it dropped below the critical $58,200 mark.