XRP Slides Toward $1 as Institutional Interest Persists

XRP is trading near the $1 mark after experiencing its weakest weekly performance among major cryptocurrencies. The cryptocurrency has fallen about 8% in the past week and a staggering 21.5% over 30 days, with technical analysis indicating it's still in a bearish descending channel.

This decline is despite significant institutional interest, with $1.44 billion flowing into XRP spot ETFs. This influx of funds suggests that investors are taking advantage of regulated channels to enter the market.

However, regulatory uncertainty surrounding the U.S. Digital Asset Market Clarity Act and ongoing XRPL governance developments add complexity to XRP's near-term outlook. Additionally, a proposed lending amendment has sparked debate within the community, further clouding the cryptocurrency's prospects.