XRP Dips 5.26%, Investors Respond to U.S. Inflation Data, Whales Accumulate

XRP price experienced a significant drop of 5.26% over the past week, coinciding with the release of the United States’ July Producer Price Index (PPI). This market correction came as inflation concerns pushed investors towards risk-off strategies and triggered heavy selling across the cryptocurrency sector. 120 million XRP were bought up by whales during this downturn, suggesting a belief in the token’s long-term potential despite current volatility.