Crypto Shock: XRP Nears Major Breakdown—Can SEC News, ETF Buzz, and Treasure Moves Help It Bounce?
Crypto markets are on edge as XRP teeters near the key $2.12 support, having fallen over 4% in the past 24 hours. The broader turbulence across crypto tokens has sparked a spike in XRP’s trading activity—24-hour volume has surged by nearly 80% to $2.97 billion—even as price momentum falters.
XRP’s derivatives markets reveal mounting tension. Trading volume on major derivatives platforms surged 70% while open interest retreated by 3.7%, a shift that experts say points to traders unwinding long bets and shifting focus to short-term strategies. Such volatility often signals that market participants are bracing for further price action, and the coming days could define XRP’s next trend.
Recent selling pressure ties directly to the wider altcoin and Bitcoin selloff. Markets reacted sharply to escalating political drama: Tensions between President Trump and Elon Musk erupted after Musk criticized Trump’s federal spending bill, triggering retaliatory measures and a heated social media feud. The standoff rattled investor confidence, causing equities like Tesla to slump double-digits and rippling across blockchain assets.
[Crypto price chart and technical analysis]
Technical signals point to heightened risk for XRP holders. The price is now below its 20-day moving average, clinging to the lower Bollinger Band at $2.07—a level that marks the last line of defense within its recent range. Breaking below it could set the stage for a steeper correction, with the relative strength index (just under 40) reflecting persistent bearish momentum. Notably, XRP currently trades below every major moving average up to the 100-day mark, with only the 200-day EMA near $2.08 offering potential support if buyers return.
From a technical perspective, experts emphasize watching the moving average convergence divergence (MACD), which remains negative. Short-term oscillators like the Stochastic RSI are neutral, suggesting the market awaits a new catalyst.
There are potential lifelines ahead. By June 16, a pivotal update in the ongoing Ripple v. SEC case could bring legal clarity, fueling sentiment for a relief rally if a settlement emerges. Meanwhile, interest from major institutions is growing: VivoPower has committed $121 million in XRP as a treasury reserve, while Chinese tech player Webus International aims to establish a $300 million XRP position for its balance sheet. ACG—a subsidiary of a Nasdaq-listed corporation—intends to acquire up to $10 million in XRP by year-end. ETF filings from Bitwise and Grayscale are also pending, with a decision from Franklin Templeton expected June 17.
For investors navigating this volatility, understanding the broader altcoin ecosystem and corporate trends is crucial. See our guide to cryptocurrency trading for beginners and explore the impact of institutional adoption in our feature on why XRP broke $2.30 and what’s next for DeFi ETF buzz.
Expert analysts recommend watching XRP’s technical levels closely as the legal and corporate calendar heats up. Whales and institutional players may see dips as opportunity—if support holds and the right news breaks, history shows crypto bounces can be swift and dramatic.