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$XRP extended its decline over the past 24 hours as broader weakness across the crypto market pushed the token closer to a key support range. Market data from CoinMarketCap showed $XRP falling by 3.46% to around $1.28 at press time, while its market capitalization dropped to $79.7 billion.
The trading activity increased during the decline. $XRP’s 24-hour trading volume climbed by 42.7% to about $2.45 billion, reflecting heightened participation as traders reacted to the breakdown.
Heavy Selling Emerged Near Major Support
The decline occurred when roughly 64 million $XRP changed hands as the token broke below support near $1.3150. The move marked another setback for $XRP, which had already been trading in a consolidation structure for several weeks.
Technical data showed the $1.30 level had repeatedly acted as a short-term floor during previous pullbacks. Analysts monitoring the chart said the breakdown below that area increased downside risks, especially as $XRP continued trading beneath resistance levels between $1.33 and $1.36.
Although $XRP rebounded from session lows, the recovery remained limited compared with the scale of the earlier sell-off.
Technical Indicators Point to Weak Momentum
Daily chart indicators continued signaling bearish conditions. The Relative Strength Index fell to 33.04, approaching the oversold mark at 30.
Historically, RSI readings below 35 have often coincided with periods of high selling pressure. However, $XRP had not yet entered deeply oversold territory, leaving open the possibility of additional downside movement before stronger recovery attempts emerge.
The Moving Average Convergence Divergence (MACD) indicator also reflected weakening momentum. The MACD line remained below the signal line, while the histogram continued recording negative readings.
Exchange Flows Reflect Ongoing Market Pressure
CoinGlass exchange flow data showed continued sell-side activity across spot markets during $XRP’s decline from levels above $3.00 in August toward the current $1.30 range. Several large exchange outflow spikes appeared during volatile periods, including October and early February, when $XRP briefly traded below $1.50.
At the same time, inflow activity remained strong, signaling active market participation despite weakening prices.
Related: $XRP Price Prediction: Bearish Momentum Builds as Open Interest and Flows Weaken