TLDR
- XRP fell to $1.2723, its lowest price since February
- US airstrikes on Iran triggered nearly $1 billion in crypto liquidations
- XRP broke below the key $1.30 support level on heavy volume
- Spot XRP ETF inflows stalled, with no inflows or outflows on Wednesday
- Analysts are watching $1.10 as the next potential support if $1.30 isn’t reclaimed
XRP dropped sharply on May 28, sliding to $1.2723 — its lowest level since February. The sell-off came as US airstrikes on an Iranian military site near the Strait of Hormuz rattled global markets and triggered a broad crypto liquidation event.
The strikes pushed nearly $1 billion in leveraged crypto positions into liquidation within 24 hours. Long positions made up 93% of those losses, with Bitcoin leading at $386 million liquidated, followed by Ethereum at $246 million. XRP was down 3.6% on the day.
Crypto analyst Cheds Trading posted on X that $XRP was “bleeding into daily range lows,” capturing the mood as sellers pushed the token through levels that had held for months.
$XRP bleeding into daily range lows pic.twitter.com/KDafw6FnQa
— Cheds Trading (@BigCheds) May 28, 2026
XRP Breaks Key Support
XRP fell from $1.3267 to a low of $1.2931 during the session. The sharpest drop came around 23:00 UTC on May 27, when 64 million XRP traded as price broke below $1.3150.
That $1.30 level had acted as a floor for months. Its loss on high volume is seen as a short-term shift in market sentiment. XRP has now fallen below all key moving averages, with both the RSI and MACD pointing downward.
Analysts are watching a symmetrical triangle pattern that has compressed XRP’s price since early 2025. The token is now near the lower edge of that structure. If $1.30 is not reclaimed, analysts warn of a drop toward the mid-$1.20s or even $1.10.
ETF Demand Cools
Spot XRP ETFs saw no inflows or outflows on Wednesday. While that’s better than Bitcoin, which saw $700 million in outflows on the same day, it shows demand has slowed.
On a monthly basis, XRP ETFs are on track for their best month this year, having added over $118 million in assets. Their previous best month was November last year, when they added $666 million.
On-chain data shows XRP continues to leave exchanges, which some traders read as longer-term accumulation.
Ripple’s RLUSD stablecoin has crossed $1.8 billion in assets, ranking it third among regulated stablecoins. The 30-day adjusted transaction volume on the XRP Ledger reached $11.8 billion.
XRP fell from a high of $1.5485 on May 14 to $1.28 as of Thursday morning. The next support level analysts are watching is $1.12, its February low. Resistance sits at the $1.33–$1.36 zone.
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