XRP Slides, Extends 7-Day Loss in Absence of Buyers’ Conviction
Ripple (XRP) price declined by about 2% to $1.11 over the past 24 hours, extending its 7-day loss to 10% amid deteriorating investor sentiment.
XRP spot trading volume was $412,313,680, and XRP futures trading volume printed at $2,404,591,077. During the same period, around $5,718,452 in XRP futures positions were liquidated.
The current open interest of XRP is $2,589,310,066, indicating that market leverage is still adjusting. The token moved in lockstep with a declining broader market, primarily driven by persistent macroeconomic headwinds pressuring Bitcoin and crypto at large.
XRP’s decline mirrors Bitcoin’s move, indicating a beta-driven move rather than coin-specific news. The broader market is pressured by six consecutive weeks of spot Bitcoin ETF outflows, totalling a record $6.35 billion over 30 days, and by a cautious macro environment marked by high inflation and a strong dollar.
The token lacks independent momentum and remains highly sensitive to shifts in overall crypto market sentiment and Bitcoin’s price action. A reversal in U.S. spot Bitcoin ETF flows would signal a return of institutional demand.
The price failed to sustain above the $1.14 pivot point, a level traders identify as a distribution zone. XRP trades below all major moving averages (50-day at $1.30, 200-day at $1.54), and its Relative Strength Index signal of 39.45 confirms bearish momentum without being oversold.
This suggests the market structure remains weak, with sellers quickly capping any short-term rebounds. A daily close above $1.20 will signal a potential shift in near-term structure.
The immediate focus is on the $1.10 support level, which has held as a local bottom. The scheduled escrow unlock of 1 billion XRP around July 1 is a known event, but it has historically caused limited volatility, as it’s largely anticipated.
The trend is bearish, and the path of least resistance is sideways to down unless macro conditions improve. A break and daily close below $1.10 could trigger a swift move toward the $1.05 low.
XRP is caught in a broader market downdraft, with technicals confirming a lack of buyer conviction. While ETF inflows into XRP products show niche institutional interest, they are insufficient to counter macro headwinds. XRP Price Increases as Ripple Seeks to Expand AI Workforce
