XRP Price Pressured by Weak Demand and Cautious Market Sentiment

XRP continues to trade with a bearish bias, extending its correction for a fourth straight session due to weak investor demand and cautious market sentiment.

Despite attracting modest institutional inflows, analysts say stronger buying pressure is needed to prevent a deeper decline and support a sustained recovery in XRP's price.

The Crypto Fear & Greed Index remains in Fear territory with a reading of 28, indicating that investors are still approaching the market cautiously.

Ripple CEO Brad Garlinghouse revealed that the company seriously considered shutting down after the U.S. Securities and Exchange Commission (SEC) filed its lawsuit against Ripple in 2020.