MarketsShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailXRP Drops 4% Below $1.30 as Bitcoin's Weakness Affects Major Cryptos
XRP has reached a new 15-week low after falling below a critical support level, with exchange outflows unable to counteract the ongoing selling pressure.
By Shaurya Malwa Jun 2, 2026, 6:41 a.m. 2 min readMake preferred onKey Points:
- XRP fell below the significant $1.30 support level amid high trading volume, continuing a downtrend characterized by lower highs and lower lows.
- Over 25 million XRP have been withdrawn from exchanges recently, indicating potential accumulation, yet any price rallies have been met with selling, failing to create lasting upward momentum.
- Traders are keeping an eye on support around $1.26 and resistance between $1.27 and $1.30; a drop below current levels could lead to a decline toward $1.20.
XRP has finally breached the $1.30 support level that traders had been defending for several weeks, with this breakdown occurring on the session's highest volume. While tokens continue to leave exchanges, typically a sign of accumulation, the market still views rallies primarily as opportunities to sell, resulting in a clear downtrend.
Background Information
• More than 25 million XRP have exited exchanges in the past few days following the largest single-day inflow of 2025, indicating that some investors might be buying into the weakness.
• Despite these outflows, XRP remains closely aligned with the overall sentiment in the crypto market, showing limited signs of asset-specific demand pushing prices upward.
• Analysts are debating whether the recent selloff represents a brief washout or the beginning of a more significant decline toward previously tested support levels from earlier this year.
Price Movement Overview
• XRP decreased from $1.3109 to $1.2668 over a 24-hour period, marking a 3.4% drop.
• The significant breakdown occurred during the June 1 13:00 UTC session, with volume spiking to 96.26 million, pushing the price below the $1.2960 support level.
• Although XRP made an attempt to recover to $1.2791, sellers quickly regained control, pushing the price back toward session lows.
Technical Insights
• The breach of the $1.30 support level is significant as it removes a crucial point of support on the chart.
• While exchange outflows remain a positive indicator beneath the surface, they have yet to result in stronger price movements.
• The failure of recovery attempts near $1.2730-$1.2750 suggests that sellers are still active during even slight rallies.
• The overall trend continues to exhibit lower highs and lower lows, maintaining a downward momentum.
What Traders Should Monitor
• The immediate support zone is now between $1.2650 and $1.2670 following the recent selloff.
• The first resistance area that XRP needs to reclaim is between $1.2730 and $1.2750 to alleviate downward pressure.
• A recovery above $1.30 would significantly improve market sentiment, but until that occurs, traders are likely focused on the sustainability of support around $1.26.
• If current support fails, the next major downside target would be around $1.20.
More For You
Bitcoin's Largest ETF Selloff Reaches $3.4 Billion as AI Stocks Rise
By Sam Reynolds|Edited by Shaurya Malwa15 minutes agoU.S. spot bitcoin funds have experienced cash outflows for 11 consecutive sessions through Monday, marking the longest redemption streak since their launch in 2024, as risk capital shifts toward an AI-driven stock market rally.
Key Points:
- U.S. spot bitcoin ETFs have seen a record 11 consecutive sessions of net outflows totaling approximately $3.45 billion as bitcoin's price approaches $70,000.
- The withdrawals, which included $484 million in the latest session, coincide with a strong appetite for risk in AI and semiconductor stocks, highlighted by a 6 percent increase in...