XRP (XRP) has fallen 1.67% in the last 24 hours.

Gate News Bot news, August 6th, according to CoinMarketCap, as of the time of writing, XRP (XRP) is currently priced at $2.95, down 1.67% in the last 24 hours, with a high of $3.17 and a low of $2.75, and a 24-hour volume of $5.668 billion. The current market capitalization is approximately $175.189 billion, a decrease of about $2.983 billion compared to yesterday.

XRP Ledger (XRPL) is a decentralized public blockchain led by a global community of businesses and developers, aimed at solving problems and creating value. XRPL has operated for over 10 years without errors, providing streamlined development, low transaction costs, high performance, and sustainability. It features advantages such as being public and decentralized, simplified development, high performance, low costs, and reliability, with built-in functionalities like decentralized exchanges, cross-currency payments, and tokenization.

Important news about XRP recently:

1️⃣ SBI Holdings applies for XRP-related ETF Japan's financial services company SBI Holdings has submitted applications for two cryptocurrency-related exchange-traded funds (ETFs). One of the funds will directly invest in XRP and Bitcoin, which could attract more institutional investors' attention and capital inflow for XRP, potentially enhancing its market demand and price performance.

2️⃣ Large short positions being closed provide short-term price support A whale known as "Insider Whale" recently closed its short position on XRP, accumulating a loss of $1.644 million. In addition, another smart money account on Binance also closed its XRP short position that had lasted for 28 days, with losses exceeding $6.6 million. The closing of these large short positions may provide short-term support for the XRP price.

3️⃣ XRP is active on major trading platforms XRP's trading activity remains at a high level on multiple major trading platforms. On Korea's leading CEX platform, the XRP/KRW trading pair ranks first in the won trading market with a 21.74% share of the volume. Meanwhile, XRP accounts for 13% of retail trading revenue in the second quarter on the leading CEX in the United States, slightly higher than Ethereum's 12%, indicating strong interest from retail investors.

Despite a slight fall in XRP's price over the last 24 hours, its active performance on major trading platforms and the potential launch of institutional investment products may provide support for its future price trend. However, uncertainties such as large investors holding short positions still exist in the market, and investors need to closely monitor subsequent developments.

This message is not an investment advice, investment should pay attention to market volatility risks.