XRP Price Sinks Below $1.30 on Market Downturn, ETF Outflow
XRP tanks to $1.29 on Thursday amid retail and institutional sell-offs, as crypto bulls retreated and the token underperformed the broader market amid a sell-off driven by macro risk aversion and Bitcoin weakness.
The move highlights ongoing pressure from institutional ETF outflows and weak on-chain demand. Broader crypto market decline, as Bitcoin fell 2.37% amid geopolitical tensions and spot ETF outflows, dragging altcoins like XRP lower.
Persistent outflow from U.S. spot XRP ETFs, signalling cooling institutional demand, coupled with a significant drop in on-chain network activity.
If XRP holds above the $1.27–$1.30 support zone, a bounce toward $1.40 resistance is possible; a break below risks a retest of the $1.15 February low, especially if macro sentiment worsens after the April 3 U.S. jobs report.
The entire crypto market cap fell 2.65% in 24h, with Bitcoin down 2.37%. This risk-off move was fueled by geopolitical tensions, oil prices above $100, and renewed outflows from U.S. spot Bitcoin ETFs. As a major altcoin, XRP’s beta to Bitcoin led it to underperform in the downdraft.
U.S. spot XRP ETFs recorded a $1.32 million outflow on April 1, extending a trend of fading institutional interest. Simultaneously, on-chain data shows network activity plummeting, with daily active addresses around 48,000 and transactions down 44% since March 21.
Even amid a notable supply squeeze—with over 2 billion XRP leaving exchanges since October—weak demand from both institutions and network users is overpowering the bullish supply narrative.
Technically, XRP is retesting the $1.30 support, which aligns with the lower Bollinger Band and a key Fibonacci swing low. The immediate trigger is the April 3 U.S. non-farm payrolls report, which could sway macro sentiment. If XRP holds $1.27–$1.30, a relief rally toward the $1.40 resistance is the base case. A break below opens the path to $1.15.
XRP’s decline is a function of macro-driven market weakness, compounded by its own deteriorating fundamentals. While a supply squeeze builds in the background, it lacks a demand catalyst to trigger a reversal.
XRP Price Rises after Ripple’s CEO Bullish Remark, ETF Rally
