XRP Dips 3.50% on Broader Crypto Selloffs, Thin Liquidity
Ripple’s XRP is down 3.50% to $1.27 in 24h, closely tracking a broader crypto market sell-off primarily driven by institutional risk-off sentiment and leveraged liquidations.
Broader market decline, as Bitcoin fell 4.14% amid significant exchange-traded fund (ETF) outflows and a spike in liquidations, dragging major altcoins like XRP lower.
The entire crypto market cap fell 2.66% in 24h, with Bitcoin down 4.14%. This was driven by heavy institutional outflows from U.S. spot Bitcoin ETFs, which saw nearly $2.43 billion in net withdrawals in May 2026.
Concurrently, Bitcoin liquidations spiked over 998% to $400.3 million, indicating a leveraged washout that pressured all risk assets. XRP’s drop was not isolated; it moved in lockstep with a market-wide de-risking event.
Analysts noted Binance’s XRP order book depth is at its weakest since 2020, meaning even moderate selling can cause exaggerated price swings.
Technically, XRP trades below all its major daily moving averages at $1.38, with the Relative Strength Index at 36.06, showing bearish momentum but not yet oversold.
The market structure is fragile, and the path of least resistance remains down until key resistance levels are reclaimed. A sustained recovery above the 7-day moving average at $1.32, which would suggest selling pressure is easing.
The immediate test is the $1.28–$1.26 support area, which has held multiple tests in Q2 2026. If this zone fails, the next major support is near $1.21.
The broader catalyst to watch is the pending SEC appeal decision on XRP’s legal status, expected by late summer or early fall 2026. The trend is bearish, but the market is probing for a local bottom.
XRP’s decline is part of a macro-driven risk-off move, exacerbated by its own illiquid order books. Until Bitcoin stabilises and XRP reclaims the $1.34 area, sellers retain control. ADAUSD -Cardano Gains 2% on Staking, Whale Accumulation
