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XRP (Ripple) fell for three consecutive days, pushing it down to the $1.05 support level. With spot ETF inflows virtually halted and futures market participation shrinking from its July peak, bears are targeting the psychological threshold of $1.
According to the investment specialized media FXStreet on August 5 (local time), XRP fell towards the short-term psychological support level of $1.05 on Wednesday. Despite expectations of a US-Iran agreement to reopen the Strait of Hormuz, the bearish trend continued, weakening investor interest and hopes for a rebound.
Institutional demand remained stagnant. According to SoSoValue, the US XRP spot ETF saw a net inflow of $1.15 million on Monday but showed no significant movement on Tuesday. Cumulative net inflows remained at $1.51 billion, and total assets under management stayed at $1 billion. While long-term investment demand persists, the intensity of short-term capital inflows is low.
Speculative demand from individual investors only saw a slight recovery. According to Coinglass data, XRP perpetual futures open interest increased from 2.12 billion to 2.14 billion units from the previous day, but this is significantly lower than the July peak of 2.37 billion units. Meanwhile, Ripple strategically invested in ZILO, a transfer technology company for asset managers, and Liquid, a tokenization and trading company, to strengthen the infrastructure required for digital asset issuance and collateral movement.
Technically, XRP maintained a short-term bearish structure, falling below its 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs). The Relative Strength Index (RSI) dropped to the low 40s, and the Moving Average Convergence Divergence (MACD) histogram also remained slightly in negative territory. If it fails to recover $1.08, it could fall to $1.05 and then $1. In the event of a rebound, the 50-day line at $1.12, the 100-day line at $1.20, and the 200-day line at $1.40 will successively act as resistance levels.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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