Although United States spot XRP exchange-traded funds (ETFs) recorded an inflow of $3.14 million on October 6, 2026, this crypto asset fell by nearly 5% over the past 24 hours.

On October 7, XRP price declined to approximately $1.42 at the time of writing, down 4.77% over the last 24 hours. As a result, the token’s market capitalization plunged by over $4.4 billion to roughly $90.3 billion at the time of reporting, according to data Finbold analyzed from CoinMarketCap.

Over the past 24 hours, the token’s trading volume, however, spiked by nearly 77% to $3.1 billion. As such, XRP traders increased their short positions on Wednesday.

XRP price fell today as the United States 30-year Treasury yield surged to a 24-year high of 5.72%, dampening investor appetite for crypto assets.

This token’s bearish sentiment today was also boosted by a long squeeze, a sell-off caused when a rapid price decline forces long position holders to liquidate. 

Already, $19.14 million in XRP long trades had been liquidated over the past 24 hours compared to $518,360 in shorts, as per updates from CoinMarketCap. The token’s Open Interest (OI), the total unsettled futures in the derivatives market, was at $7.5 billion, while its 24-hour trading volume was at $18.08 billion.

Bigger picture for XRP price performance 

While the price of this crypto asset declined today, it has added 2.43% over the last 30 days. 

From a technical analysis standpoint, the token’s price retested its June 2026 breakout following today’s slump. 

Consequently, despite today’s XRP decline, its institutional demand remained strong, as shown by heightened 24-hour trading volume and spot ETF inflows.

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