Ripple's XRP token fell to $1.63 on Monday, its lowest since October 2025, extending a drawdown of over 55% from the 2026 peak of $3.66. The decline mirrors a broader crypto downturn, but XRP's futures and on-chain metrics paint an especially grim picture.
Funding Rate Flips Negative, Long Liquidations Exceed $126M in Two Days
Data from Coinglass shows that the weighted funding rate for XRP perpetual swaps turned negative for the first time in weeks, indicating that short sellers are paying longs to maintain bearish bets. The negative rate is often a precursor to further downside. Meanwhile, forced liquidations of long positions accelerated: $57 million was wiped out on Sunday, following $69 million the day before, totaling over $126 million. The selling pressure shows no sign of abating.
XRP ETFs Bleed Assets, On-Chain Activity Halves
Demand for XRP spot ETFs has collapsed. These funds saw a daily outflow of $52 million, after shedding $40 million the week before; monthly net inflows now stand at a record low of just $15 million. On the ledger, daily transactions dropped to 1.03 million from 1.88 million last week, and active accounts fell to 11,000 from 21,000. The sharp decline in network usage underscores waning real-world demand for XRP payments.
Technical Analysis: Key Fibonacci Level Broken, $1 in Sight
The weekly chart shows XRP has breached the 61.8% Fibonacci retracement level and fallen below both the 50-week and 100-week exponential moving averages. The Relative Strength Index (RSI) and MACD continue to trend lower. Analysts identify the next major support at $1, roughly 38% below current levels. A breakout above the $2 resistance would invalidate the bearish setup and signal a potential reversal.