XRP Price Crashes to $1.07 over Severe Market Downturn
Ripple (XRP) price declined 5% to $1.07 during the early trading session on Saturday, underperforming a broadly weak crypto market primarily driven by whale distribution colliding with persistent U.S. regulatory uncertainty.
Trading volume is up 22% in 24 hours to $3.66 billion, according to data from crypto exchanges amidst negative sentiment across top cryptocurrencies.
Bitcoin, Ethereum, Binance Coin, XRP, and Solana, Tron, and other altcoin are trading lower over whale selling and regulatory overhang.
Trading data indicates that approximately 50 million XRP was moved or sold from major addresses, amplifying selling pressure as traders await clarity from the pending CLARITY Act.
The sharpest pressure came from large-holder (whale) distribution, with about 50 million XRP recently moved or sold.
This selling amplified negative sentiment already weighed down by the unresolved regulatory status of XRP in the U.S., with the pivotal CLARITY Act still awaiting a Senate vote.
XRP’s drop occurred within a severe market-wide downturn. Bitcoin fell 3.25%, breaking below $60,000 as U.S. spot Bitcoin ETFs saw over $4.4 billion in net outflows in a month.
Strong U.S. economic data has shifted expectations toward potential Fed rate hikes, crushing risk asset sentiment. XRP is not falling in isolation; it’s caught in a liquidity crunch affecting the entire crypto complex.
Technically, XRP is deeply oversold and testing critical support at $1.09–$1.10, the recent swing low. The immediate path hinges on this level holding. The upcoming Senate decision on the CLARITY Act is the next major fundamental trigger.
The current price action suggests either capitulation or the start of a deeper slide. A hold above support could spark a short-covering bounce. A daily close below $1.09, which would target the $1.00 psychological level.
XRP is facing a perfect storm of concentrated selling and macro-driven market weakness. While oversold conditions suggest a bounce is due, the trend remains down until key resistance levels are reclaimed. Bitcoin Price Dips to $61.5k as Institutional Risk Appetite Shifts
