XRP tumbled sharply in the latest sell-off, reaching its lowest level in 15 weeks as short-term pressure overpowered otherwise positive signals. Recent data shows the XRP price plunged to $1.32 before steadying near $1.29, highlighting that bearish momentum now dominates the market.
Sell pressure overrides positive signals
According to market intelligence platform CryptoSavingExpert, this steep pullback occurred despite several positive developments that would typically support the price. Broader institutional interest remains robust, with almost $1.42 billion of new capital flowing into spot crypto ETFs across the digital asset market.
In addition, around 25 million XRP were withdrawn from exchanges recently. Such outflows are usually viewed as a positive signal since they reduce the amount of XRP available for immediate sale. Under ordinary market conditions, ETF inflows combined with declining exchange balances would be expected to provide a supportive backdrop for prices.
The recent drop came during a period of increased institutional interest and substantial XRP outflows from exchanges, a pattern suggesting that short-term market sentiment has overtaken underlying fundamentals.
Nevertheless, the latest movements reveal investors are increasingly focused on short-term risks. Profit-taking, lingering uncertainty across the cryptocurrency sector, and a more cautious appetite for risk all seem to have overshadowed the impact of positive fundamentals in recent days.
Key support level in focus
The latest round of selling pressure has brought XRP to a technically significant threshold. Market participants are closely watching the $1.30 level, which is now seen as the dividing line between a potential rebound and the risk of a deeper correction.
According to CoinCodex data, XRP is currently trading at $1.29, just below this critical support range. If the price remains below $1.30, the risk of additional selling pressure increases, with the possibility of XRP slipping further toward $1.28.
First resistance seen at $1.34
On the upside, the first significant resistance level stands at $1.34. If buyers can reclaim this area, momentum could shift and prompt a reaction toward the $1.40 mark. For such an upturn, market sentiment would need to recover and the aggressive selling seen in recent days would need to subside.
Meanwhile, some analysts remain optimistic about XRP’s long-term outlook. Computer engineer and banking systems specialist CharuSan has argued that forecasts of $300 for XRP depend less on retail enthusiasm and more on the possibility of extensive use within global banking infrastructure. CharuSan is noted for his market commentary, particularly on developments in banking systems.
Market watchers also point to the liquidation of weak positions in XRP and highlight a $2.26 billion liquidation zone above current prices. For now, the ongoing battle between buyers and sellers is expected to shape XRP’s direction in the upcoming sessions.
