Since July 23, the price of XRP has dropped below $3.40, a decline attributed to reports that a wallet linked to the co-founder of Ripple has offloaded millions of tokens. However, one expert believes that improved liquidity and institutional interest could support the continued rise in the value of the digital currency. After dropping below $3.40 on July 23, the price of XRP fell below $3.40 on July 23.

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