XRP extended its slide and fell to $1.3495, the token’s lowest level since November 2024. The move came as the broader crypto selloff intensified, pushing XRP even farther from its record high of $3.6650.
The decline has erased roughly $128 billion in value from XRP’s peak market capitalization. Its market cap has dropped from a record $210 billion in July last year to about $82 billion now. After five consecutive weeks of losses, XRP also moved below the closely watched $1.5463 support level, a break that added to bearish pressure.
Geopolitical fears and oil prices add pressure to crypto
The report linked the selloff to weakness across Bitcoin and the wider crypto market as traders reacted to concerns over a possible strike on Iran. Polymarket data showed rising odds of such an attack after Trump sent an armada to the region.
A military escalation would likely raise geopolitical risk and push crude prices higher. Data cited in the report showed Brent crude at $67 and West Texas Intermediate at $66. Higher oil prices can feed inflation expectations and make Federal Reserve rate cuts harder to deliver. That backdrop has weighed on risk assets broadly, including XRP.
Spot ETF demand cools, while XRP Ledger activity holds up
Demand for spot XRP ETFs has softened in recent weeks as investors stayed on the sidelines. According to SoSoValue, spot XRP ETFs have attracted more than $28 million in inflows this month, far below the more than $666 million recorded in November. The drop in fresh inflows points to weaker buying interest during the current downturn.
Still, some XRP Ledger metrics remained firm. Assets backing Ripple USD have grown to more than $1.4 billion, and volume has kept rising in recent months. The network’s real-world asset tokenization ecosystem also expanded sharply, with asset amounts up more than 270% over the past 30 days. XRP Ledger is also preparing a permissioned decentralized exchange platform aimed at financial institutions.
Technical setup points to $1 as the next level to watch
On the weekly chart, XRP has stayed in a strong downtrend for months, falling from $3.6650 to around $1.3565. The break below $1.5465 stands out because that level marked both the lowest point from April last year and the 50% Fibonacci retracement. Losing that support suggests sellers remain in control.
XRP is now trying to move below the 200-week Exponential Moving Average, a level that would reinforce the bearish outlook if broken. At the same time, the Relative Strength Index and the Stochastic Oscillator have both continued to trend lower. Based on the technical view in the source material, the next downside target sits near $1, the 78.6% Fibonacci retracement, which is about 26% below the current level.