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Markets

What to know:

After months of traders trying to hold the price at $1.30, XRP finally dropped below that level, and the sell-off was significant. Although the price had been struggling to break through $1.35, once the $1.30 support level was broken, the price fell quickly, but buyers briefly stepped in near the day’s lowest price.

News Background

Trading activity in XRP futures decreased today, suggesting traders are becoming less confident in its price movement. Open interest – the total number of outstanding contracts – declined, indicating a cooling in market enthusiasm.

Experts have noted that XRP’s price has been moving within a symmetrical triangle pattern since the beginning of 2025, and it’s now approaching a critical point where a breakout could occur.

Despite recent price dips, data on the XRP blockchain continues to show XRP being withdrawn from exchanges, leading some traders to believe people are still buying and holding it for the long term.

Price Action Summary

Over the past 24 hours, XRP’s price decreased from $1.3267 to $1.2993, even briefly reaching $1.2931. The most significant selling occurred around 11:00 PM UTC on May 27th, with 64 million XRP being traded as the price fell below the $1.3150 support level. However, XRP quickly recovered somewhat, rising back towards $1.30 by the end of the session.

Technical Analysis

The price falling below $1.30 is significant because that level has consistently acted as support during the recent trading range. Currently, XRP is trading below important resistance levels, and sellers are strongly defending the $1.33-$1.36 area. While the price briefly rose from $1.2931, suggesting some weakening of selling, the recovery was still quite weak compared to the initial drop. The overall symmetrical triangle pattern remains in place, but the price is getting dangerously close to the bottom of that pattern.

What traders should watch

XRP needs to rise above $1.30 to regain stability in the short term. If it falls below recent lows, it could drop further, potentially to around $1.20 or even $1.10, according to analysts. The longer XRP stays near its lowest price point, the more likely it is to eventually fall in value rather than rise.

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2026-05-28 07:54