XRP briefly dropped below $1 on Aug. 11, its lowest level since late 2024, before climbing back to around $1.40. The token remains more than 50% below where it traded a year ago, with rate expectations, stablecoin competition, and a stalled bill in Congress leaving it without a clear catalyst.
XRP briefly dipped below $1 on Aug. 11, a price it hadn't touched since late 2024. Over the following two weeks it climbed back to around $1.40, but the token is still down more than 50% over the past 12 months.
XRP's rebound stays far from last year's high
XRP now trades at $1.38, down 6.08% on the day. It sits within a 52-week range of $0.99 to $3.18. Expectations for more interest rate cuts, alongside growing use of XRP by financial institutions — especially in Japan — for cross-border remittances, had driven the token as high as $3.66 last July.
Rate expectations and stablecoins cut into demand
That rally ended once market expectations shifted from rate cuts to rate hikes as inflation heated up again, a shift that chilled the crypto market and pushed investors toward more conservative assets. At the same time, more financial institutions turned to stablecoins pegged to a fiat currency instead of XRP to process blockchain-based transactions, a shift that could significantly reduce the token's usefulness as a bridge currency for fiat transactions.
Legal wins haven't produced a fresh catalyst
XRP overcame a major hurdle last year when the SEC's lawsuit against Ripple — filed in 2020 over the sale of XRP tokens — concluded with a lighter-than-expected fine and a ruling that XRP wasn't a security when sold to retail investors. The token returned to major exchanges, and the SEC approved its first spot XRP ETFs in late 2025. Yet the CLARITY Act, which would define XRP as a digital commodity rather than a security, has stayed stuck in the Senate, leaving one potential institutional catalyst still unresolved.
Source: The Motley Fool
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