According to CoinDesk, XRP has dropped to its lowest point in 15 weeks near $1.26 on June 2 after heavy selling broke through the $1.26 support zone that had held for most of May. The cryptocurrency had spent nearly three weeks trading above this well-defended support zone before the decisive breakdown occurred. The $1.26-floor had previously been successfully defended during multiple May tests, including the 23 May session, allowing the price to consolidate above support. However, repeated failures near the $1.35-$1.40 region gradually weakened demand, eventually leading to the breakdown below the critical support level. Latest data shows XRP trading near $1.21-1.24, down more than 2% in the past 24 hours, 7% over the past week, and 66% cumulative drawdown from its all-time high. The broader crypto market context shows total crypto market cap collapsed from above $4 trillion to just $2.4 trillion as most altcoins are down double digits alongside XRP.
Technical indicators reveal XRP is approaching oversold conditions but has not yet crossed the critical threshold. As reported by crypto.news, the RSI sits at 31.55, while the moving average stands near 39.87, with readings below 30 typically marking oversold conditions. The weak RSI reading shows sellers still control short-term momentum, though a short bounce remains possible if traders react to the near-oversold setup. The MACD remains bearish with the MACD line at -0.0286 below the signal line at -0.0212, and the histogram at -0.0074, indicating downside pressure remains active. Trading volume remained active at nearly $2 billion, but buyers have not pushed the token back into its recent range near $1.35-$1.45.
According to CryptoQuant analyst Arab Chain, XRP whale withdrawals from Binance fell to approximately 978 million XRP over the past 30 days, marking the lowest level since 2021. This data shows large XRP holders are not moving coins off Binance at the same pace seen during earlier bull phases. In 2021 and parts of 2024-2025, stronger rallies often came with sharp rises in withdrawals, but the current reading points to a calmer market and may show weaker conviction from large holders while XRP trades in a narrow range. The low withdrawal levels contrast with previous bullish phases when stronger rallies coincided with higher whale activity.
Despite the price decline, XRP spot ETFs have collected $131.94 million in May, their strongest monthly inflow of 2026, as reported by crypto.news. This represents a continuation of strong institutional demand, with XRP ETFs drawing $131.94 million in May, their strongest monthly inflow of 2026. However, the weak momentum keeps $1.35-$1.45 as resistance, with the token still trading below the recent consolidation area. The gap between falling price and growing buying pressure suggests institutional and retail investors are accumulating at lower levels, potentially setting up for a reversal once technical resistance is broken. Additionally, Ripple's RLUSD stablecoin now carries over $1.8 billion in AUM and $22 billion in 30-day volume, demonstrating strong fundamentals despite the price weakness.
As reported by crypto.news, market attention now sits on the $1.20 zone, which served as consolidation support through much of Q1, with a confirmed daily close below that figure opening a path toward $1.00-$1.05, a range last tested in late 2024. On the upside, the former support around $1.40-$1.45 now acts as resistance, with reclaiming that level being the minimum requirement for any credible bull case. Three scenarios frame the near-term path: if ETF inflows accelerate and XRP reclaims $1.40 within two weeks, the token might finally recover to $1.50. Alternatively, it may grind sideways between $1.20-$1.35 as the market stabilizes. The ugly scenario involves the $1.20 floor cracking and momentum sellers piling in, potentially retesting sub-$1.10 levels. XRP remains the fifth-largest crypto asset by market value with a market cap near $78 billion and fully diluted value above $126 billion, trading far below its all-time high of $3.65 reached in July 2025.
