XRP Price Drops 3.57% Amid Lower Network Usage Despite New Institutional and Ledger Developments

XRPUSDT has experienced a 3.57% decrease in price over the past 24 hours, now trading at 1.4277 according to Binance. This price change is attributed to subdued retail and institutional demand, as reflected in declining futures open interest and muted ETF activity, alongside technical headwinds with XRP remaining below key moving averages. While recent positive developments such as Ripple Labs’ large XRP transfers, Societe Generale’s euro stablecoin launch on the XRP Ledger, and new use cases including Coinbase's collateral offering have fueled institutional interest, these factors have not offset the impact of a drop in network usage and payments activity. XRP’s market capitalization is around $86.52–$88.89 billion, with a circulating supply of 60.92 billion, and 24-hour trading volume near $2.11–$2.26 billion, showing continued active trading amid cautious sentiment.