XRP recorded a daily close of $1.000 on August 12th for the first time since November 2024, before slightly rebounding to around $1.0082, down 1.5%. The altcoin’s trading volume dropped 28%, while the price remains over 69% below its January peaks. According to Santiment, this weakness is explained by a user base that is not expanding: new addresses remain flat at approximately 2,260 per day, compared to 10,000 to 13,000 when XRP was above $3 in early 2024. The Exchange Supply Ratio reached 0.026, its highest level in six weeks, signaling intense selling pressure with sellers outweighing buyers. The Awesome Oscillator has remained negative for two consecutive weeks, suggesting that downward pressure could lead to a close below the $1 support level, although volatility is decreasing according to the ATR.
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