XRP Sinks to $1.30 over Crypto Selling Spree
Ripple (XRP) price declined 4% to $1.30 over the past 24h, closely tracking a broader market sell-off led by Bitcoin. Trading volume is up 21% to $2 billion amidst market-wide sell pressure.
The price move is primarily driven by negative beta to a declining market, amplified by sector rotation away from altcoins, cryptocurrency analysts said in separate chats.
XRP’s decline mirrors Bitcoin’s 3.63% drop and the total market’s 3.42% loss over the same period. This high correlation indicates the move was driven by broad risk-off sentiment rather than a coin-specific catalyst.
The token acted as a high-beta asset in a falling market, magnifying the downside. Bitcoin’s ability to hold support near $74,000, as its direction will likely dictate XRP’s near-term path.
The immediate trigger is Bitcoin’s price action. The key concrete level for XRP is $1.30, which was recently tested. If this level holds and Bitcoin stabilises, XRP could rebound toward the $1.38–$1.40 resistance zone.
The broader catalyst to watch is progress on the CLARITY Act, which could renew institutional interest. The trend remains bearish below $1.40, but oversold conditions near $1.30 may attract dip-buyers.
A daily close below $1.30, which would invalidate the near-term support thesis and likely trigger further selling. XRP’s drop is driven by market beta and altcoin de-risking, with technicals confirming the downtrend. BTCUSD- Bitcoin Dips Below $76k on Institutional Selloffs
