XRP (XRP) has retreated by 5% in the past 30 days and seems headed to retest the $1 level — a highly relevant technical and psychological threshold that, if broken, could mark the beginning of the token's next leg down.
Trading volumes have dropped significantly in the past few days, hitting $580 million on August 1, indicating that interest in this token remains quite weak.
At this level, the amount of XRP exchanging hands accounted for just 0.8% of the ****** et's circulating market cap — a dismal figure in the crypto market and one that we are not used to seeing for this top altcoin.
Net inflows to exchange-traded funds (ETFs) linked to this token also experienced a strong drop in July, retreating for the second month in a row. Investors deposited only $27 million into these vehicles, translating into a 54% decline compared to June's inflows.
The only reason why net inflows ended in positive territory last month was that investors poured $13 million into these funds at the last minute, between July 30 and 31. Otherwise, the figure would have turned negative for the first time since March this year.

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