XRP Breaches Crucial $1.30 Support as BTC, Ethereum Dive
Ripple (XRP) breached its crucial $1.30 support level on Thursday, following significant sell-offs, as renewed geopolitical tensions dragged down Bitcoin and Ethereum.
XRP’s decline is a symptom of a fearful macro environment and weakening institutional demand for crypto, exacerbated by its own technical breakdown.
The token is down 3% over the last 24 hours to $1.28, closely tracking a broad crypto market sell-off primarily driven by escalating US-Iran tensions and massive Bitcoin ETF outflows.
Bitcoin (BTCUSD) has lost 3% and is now trading below $74k, and Ethereum (ETHUSD) is down more than 4% to $1,984 at the time of filing this report on Thursday.
The token move broke key technical support, signalling increased selling pressure. With about $2.4 billion in transaction value, XRP volume has increased 36% in 24 hours.
Sell pressure in the crypto market will persist, analysts said, maintaining bearish estimates until the US and Iran sign an agreement to resolve tensions in the Middle East. The entire crypto market cap fell nearly 3% on escalation of US-Iran military strikes, which spooked risk assets.
According to a report, U.S. spot Bitcoin ETFs saw an eighth consecutive day of net outflows, including a record $1.29 billion dark-pool sale of BlackRock’s IBIT shares.
This created a risk-off cascade that pulled down XRP and most altcoins. XRP’s drop is not coin-specific but a reaction to macro fear and institutional de-risking in crypto’s largest asset. De-escalation in Middle East headlines and a reversal in Bitcoin ETF flow trends.
Based on data from a crypto exchange, XRP breached the crucial $1.30 support level that had held for months, trading as low as $1.27. The 7-day RSI at 25.54 indicates oversold conditions.
The break of support validates bearish momentum, while oversold readings suggest a potential for a short-term bounce if broader sentiment stabilises. Whether XRP can hold above the 78.6% Fibonacci retracement level at $1.36 would invalidate the immediate bearish structure.
The outlook hinges on the $1.30 level. If selling pressure persists and XRP closes below $1.30, the next significant support zone is $1.11–$1.15, aligning with the weekly Bollinger Band lower boundary.
A reclaim of $1.30, followed by $1.36, would be needed to signal a reversal and target a move back toward $1.40. The trend is bearish below $1.30, but deeply oversold conditions mean any positive macro catalyst could trigger a sharp, albeit likely temporary, rebound. HYPE Gains 6% on Protocol’s Assistance Fund Token Buyback
