XRP’s price plunged to a four-month low under $1.15, driven by significant whale selling and a shift in ETF investor sentiment. On-chain data shows whales disposed of 60 million tokens, while U.S. spot ETFs saw over $5 million in net outflows. Analysts warn the breakdown of a key support level could lead to further declines toward $1.00 or lower.
The cross-border token XRP has dropped to a fresh four-month low under $1.15. This marks a 25% correction from its recent high near $1.55 just three weeks ago.
The decline coincides with a broader market downturn, including Bitcoin falling toward $61,000.
On-chain analyst Ali Martinez updated that whales have “sold or redistributed” 60 million XRP in the past week. This data from Santiment typically intensifies selling pressure on the asset.
Investors using U.S. spot ETFs for XRP exposure also changed their strategy. After over a month of inflows, June 3 saw net outflows exceeding $5 million according to SoSoValue data.
Analyst CasiTraders stated XRP is “breaking below a very important support level.” She outlined a potential path for the token’s price in a social media post.
“My expectation is: Sharp move down toward ~$0.92. Relief bounce back toward ~$1.20 (which should act as resistance). One final move toward $0.87,” she wrote.
This bearish scenario could be invalidated if XRP reclaims the $1.30 resistance level decisively. The token’s current price is its lowest since an early February crash to $1.11.
