XRP has dropped to $1.18, marking a 5.56% decline in the latest trading session and hitting a fresh four-month low as the broader crypto market sold off sharply. According to Crypto.news, the token failed to hold the $1.20 area after challenging the $1.55 resistance three weeks earlier, with the latest decline pushing XRP close to levels last seen during the early February crash. The 24-hour trading range stood between $1.14 and $1.24 with volume staying high near $2.9 billion, indicating significant selling pressure. The breakdown below $1.20 has transformed that level into overhead resistance, creating a challenging environment where any recovery attempt now faces immediate selling pressure. The persistent selling pressure has created an unstable market setup where the token is caught between conflicting signals, with the latest decline highlighting the ongoing battle between bullish accumulation signals and persistent selling pressure.
Whale activity has added significant pressure to XRP's decline, with analyst Ali Martinez reporting that whales sold or redistributed 60 million XRP over the past week. As reported by Crypto.news, this large-scale selling comes at a particularly challenging time as XRP is already trading near key support zones. The timing of these whale transfers matters significantly because XRP is already positioned near critical support levels. Additionally, Binance whale withdrawals had fallen to about 978 million XRP over 30 days, marking the lowest reading since 2021, which typically signals weaker large-holder demand. Lower whale withdrawals often read as a softer accumulation signal, suggesting that institutional and large-holder conviction has weakened substantially during the current downturn.
The $5.34 million net outflow recorded by U.S. spot XRP ETFs on June 3 represents a significant reversal from the positive momentum seen in May. As previously reported, XRP ETFs had attracted $131.94 million in net inflows during May, beating Bitcoin and Ethereum funds and establishing XRP as one of the stronger parts of the market. However, the flow picture changed dramatically with Bitwise's XRP ETF seeing the largest single-day outflow at about $4.06 million, followed by Grayscale's XRP Trust ETF with about $699,400 in outflows. This reversal in ETF demand has weakened a recent bright spot that had suggested institutional conviction remained intact despite price weakness. The market's reaction to these positive flows has been muted by the prevailing bearish price action, with the token staying weak even as regulated products attracted fresh capital during May.
Technical analysis from ChartNerd indicates that XRP printed a two-week 20/50 EMA death cross, with a close below $1.32 marking the lowest weekly candle close in 2026. The analyst notes that XRP is losing the Upper Regression Band near $1.35, arguing that previous breaks below that level often led to a move toward the Middle Regression Band near $0.84. This makes $0.84 an important deeper support level if sellers maintain control. For now, $1.14, $1.10 and $1.00 are being watched for any reaction, with traders closely monitoring the $1.24 level as a potential rebound zone. The Selling Pressure Index (SPI) fell to 32.33, approaching oversold territory, though follow-through buying remains weak. The technical setup suggests that until one of the conflicting signals - weakening supply or deteriorating price action - wins out, traders are likely to remain cautious.
Despite the current weakness, XRP remains one of the oldest major crypto assets still trading, having gone live on June 2, 2012, making it 14 years old. As noted by Crypto Patel, XRP had no mining and no public ICO, with all 100 billion tokens created at launch through giveaways, partner deals and private sales. However, this historical resilience does not remove current pressure on the chart, with XRP down more than 16% over 30 days and far below its July 2025 all-time high of $3.65. The asset's next move depends on whether buyers defend the $1.14 to $1.10 area, with a rebound above $1.24 easing immediate pressure while a close below $1.10 could open the way toward deeper support. The broader market selloff, with Bitcoin falling toward $61,000 and Ethereum trading near its lowest level since April 2025, has reduced demand across major altcoins, contributing to XRP's current weakness.
