XRP drops 4% below $1.30 as heavy selling breaks key support zone

XRP lost another major support level after high-volume selling accelerated late in the session, keeping focus on whether the months-long compression structure is now breaking lower.

What to know:

• XRP broke below the long-defended $1.30 support with heavy volume, signaling a meaningful shift in short-term market sentiment.
• Derivatives data show cooling futures interest and weaker trader conviction even as on-chain flows suggest longer-term accumulation continues.
• Analysts warn that XRP’s price is hovering near the lower edge of a long-running symmetrical triangle, raising the risk of a deeper drop toward the mid-$1.20s or even $1.10 if $1.30 is not reclaimed.

XRP finally slipped below the $1.30 area traders had been defending for months, and the move came with enough volume to matter. The market had already been weakening beneath resistance near $1.35, but once support gave way, sellers pushed price lower quickly before dip buyers stepped in near session lows.

News Background

• XRP derivatives positioning continued cooling during the session, with falling open interest signaling weaker trader conviction across futures markets.

• Analysts also kept pointing to a symmetrical triangle structure that has compressed XRP price action since early 2025, with the market now nearing the apex of that range.

• On-chain data still showed XRP leaving exchanges, a pattern some traders continue interpreting as longer-term accumulation despite the short-term weakness.

Price Action Summary

• XRP fell from $1.3267 to $1.2993 during the 24-hour session, briefly dropping as low as $1.2931.
• The sharpest selling came during the May 27 23:00 UTC session, when 64M XRP traded as price broke below support near $1.3150.
• XRP later staged a short-term rebound from session lows, recovering back toward the $1.30 area into the close.

Technical Analysis

• The breakdown below $1.30 matters because that level had repeatedly acted as a floor throughout the broader consolidation structure.
• XRP is now trading beneath several key resistance levels, with sellers continuing to defend the $1.33-$1.36 zone aggressively.
• The bounce from $1.2931 showed some evidence of exhausted selling pressure, though the recovery remained weak relative to the earlier breakdown.
• The broader symmetrical triangle pattern is still intact for now, but price is drifting dangerously close to the lower edge of the structure.

What traders should watch

• $1.30 becomes the immediate recovery level XRP needs to reclaim to stabilize short-term momentum.
• Failure to hold above recent lows increases the risk of a deeper move toward the mid-$1.20s and potentially the $1.10 area highlighted by several analysts.
• The longer XRP trades near the bottom of its compression range, the higher the odds the eventual breakout resolves lower rather than higher.

More For You

Fund manager Michael Kramer says a $150 billion liquidity drain from upcoming U.S. Treasury operations could push bitcoin sharply lower.

What to know:

• Michael Kramer of Mott Capital Management warns that upcoming U.S. Treasury operations could drain about $150 billion in liquidity, potentially deepening bitcoin's price selloff.
• He argues that bitcoin acts as a leading liquidity indicator and has already broken key support near $75,000 amid an 11% pullback from recent highs.

Bitcoin could be heading much lower, fund manager warns as $150 billion Treasury operation nears

1 hour ago

Bitcoin drops below $73,000 as US strikes on Iran spark $1 billion liquidations

1 hour ago

U.S. CFTC files request to erase Gemini settlement that it no longer considers fair

4 hours ago

Google engineer insider-traded search results on Polymarket, Feds allege

7 hours ago

The crypto industry’s massive political war chest is starting to lean Republican ahead of midterms

8 hours ago

Wall Street gets new crypto rival after Texas bank completes regulatory pivot

10 hours ago

Elon Musk could become a top 5 corporate bitcoin holder if Tesla and SpaceX merge

11 hours ago

DTCC plans to bring tokenized assets to Stellar in latest Wall Street blockchain push

15 hours ago

Robinhood is letting AI trade for you so you don't have to keep checking the markets

15 hours ago

Block kicks off Cash App’s phased stablecoin roll out to its nearly 60 million users

15 hours ago

Crypto IPOs could create massive $1 trillion market amid tokenization wave, Jefferies says

14 hours ago

Mastercard secures New York BitLicense to support stablecoin and digital payment infrastructure

16 hours ago