Ripple’s ($XRP
) price has taken a sharp hit, falling more than 10% in the last 24 hours to around $1.42 — a level last seen in November 2024. Technical charts show weakness across multiple timeframes, with XRP down roughly 40% from its recent $2.40 peak just a month ago.
Although investors pulled out nearly $93 million in a single day last week, inflows of $19.46 million and $4.83 million were recorded on Tuesday and Wednesday. However, Ripple’s announcement of institutional backing for Hyperliquid via its prime brokerage platform failed to provide price support.
Analysts suggest the decline isn’t linked to Ripple’s fundamentals or ecosystem issues. Instead, it appears driven by broader market fear, uncertainty, and doubt, prompting traders to reduce exposure. With the $1.51 support level already broken, attention has shifted to $1.42 and $1.27 as the next key supports before the critical psychological $1 mark comes into play.