XRP Bleeds Out, Shrinks 5% on Rising U.S. Treasury Yields
Ripple (XRP) is trending bearish on Thursday, down about 5% in the last 24 hours to $1.40, amid broader macro-driven selling pressure stoked by elevated US yields.
A broader crypto market sell-off, fuelled by rising Treasury yields and a stronger U.S. dollar, triggered a break below a key technical support level.
XRP fell alongside a broader market decline, with the total crypto market cap down 1.66%. Macro headwinds, including rising 10-year Treasury yields and a stronger U.S. dollar, drove the sell-off and weighed on speculative assets.
This pressure pushed XRP below its 200-day moving average and key support near $1.44, confirming bearish momentum, with volume up 8.59%.
Traders said the move wasn’t coin-specific but a risk-off reaction that hit an already weak technical structure. The next rebound hinges on Bitcoin holding $83,000, as further weakness could drag XRP lower.
On-chain data shows whales withdrew about 1.38 billion XRP from Binance over 30 days, the highest level in seven months. While this could signal long-term accumulation off exchanges, it also removes immediate sell-side liquidity that may have contributed to downward pressure.
Cryptocurrency analysts said this suggests that large holders are repositioning, which can reduce near-term selling supply but also reflects caution.
The immediate focus is the $1.40 support level, which aligns with the current pivot point. The XRPL’s fixBatchV1_2 amendment is expected to activate on October 9, which could serve as a positive catalyst if the network upgrade proceeds smoothly.
The trend is bearish below $1.44–1.46 resistance. A reclaim of that zone is needed to shift momentum. A daily close below $1.40 would confirm further downside, targeting the next Fibonacci retracement level near $1.32.
XRP’s drop was amplified by its break below key technical levels during a macro-driven market retreat. The market is now watching whether the $1.40 support holds into the XRPL amendment activation on October 9.
Elsewhere, Grayscale’s XRP Trust ETF (GXRP) filed an update with the SEC, enabling authorised participants like Virtu Americas and Macquarie Capital to create and redeem shares by delivering XRP directly, in addition to cash.
This “in-kind” mechanism, available since September 29, aims to reduce market trading needs and associated costs. The fund also added Anchorage Digital Bank as a custodian alongside Coinbase Custody to diversify risk.
This is bullish for XRP because it enhances the ETF’s operational efficiency and could tighten the premium/discount to net asset value, making the fund more attractive to institutions. However, Grayscale warns that limited participation could still impair liquidity.
Five U.S. spot XRP ETFs collectively hold an estimated $1.7 billion (about 1.13 billion XRP), yet net inflows over the past week were only roughly $3.9 million.
Technical traders said this divergence shows that while the funds hold a large, sticky position, fresh institutional capital is trickling in rather than flooding in.
This is a mixed signal. The large existing holdings provide a solid base of institutional exposure, but the recent slowdown in inflows suggests cautious sentiment or profit-taking, which may contribute to XRP’s current price consolidation near $1.42. XRP Establishes Price Floor Ahead of Evernorth Nasdaq Listing
