XRP Plummets Under $1.30 Following U.S. Military Action in Iran

Key Takeaways

Table of Contents

Ripple’s XRP token plunged to $1.2723, marking its weakest performance since February
U.S. military strikes targeting Iran catalyzed approximately $1 billion in cryptocurrency liquidations
The digital asset breached critical $1.30 support amid significant trading volume
Spot XRP exchange-traded funds recorded zero activity on Wednesday with no capital movement
Market observers identify $1.10 as the next crucial support zone if current levels fail to hold

Ripple’s XRP experienced a dramatic downturn on May 28, plummeting to $1.2723 — representing its weakest price point in over three months. The decline coincided with U.S. military operations targeting an Iranian facility located near the strategically important Strait of Hormuz, which sent shockwaves through global financial markets and precipitated widespread cryptocurrency liquidations.

The military action resulted in close to $1 billion worth of leveraged cryptocurrency holdings being liquidated across the market within a single 24-hour period. Overwhelmingly, long position holders absorbed 93% of these losses, with Bitcoin accounting for the largest individual share at $386 million in liquidations, while Ethereum followed with $246 million. XRP itself registered a 3.6% decline throughout the trading session.

Cryptocurrency market analyst Cheds Trading shared observations on X, noting that $XRP was “bleeding into daily range lows,” effectively summarizing market sentiment as sustained selling pressure drove the token through support levels that had remained intact for several months.

$XRP bleeding into daily range lows pic.twitter.com/KDafw6FnQa

— Cheds Trading (@BigCheds) May 28, 2026

Critical Support Level Breached

XRP descended from $1.3267 to an intraday bottom of $1.2931 during the volatile trading period. The most pronounced decline materialized approximately at 23:00 UTC on May 27, when an impressive 64 million XRP changed hands as the price collapsed beneath the $1.3150 threshold.

The $1.30 price level had functioned as a reliable support floor throughout recent months. Its breakdown accompanied by substantial volume signals a near-term transformation in market dynamics. XRP currently trades beneath all significant moving averages, while technical indicators including the RSI and MACD display bearish momentum.

Technical analysts continue monitoring a symmetrical triangle formation that has constrained XRP’s price movement since the beginning of 2025. The token now hovers dangerously close to the lower boundary of this pattern. Should the asset fail to recover the $1.30 level, market watchers caution that further deterioration toward the mid-$1.20 range or potentially $1.10 remains possible.

Exchange-Traded Fund Activity Stagnates

Spot XRP exchange-traded funds experienced completely flat activity on Wednesday, recording neither capital inflows nor outflows. While this represents a more favorable position compared to Bitcoin, which hemorrhaged $700 million in outflows during the identical timeframe, it nonetheless illustrates waning investor appetite.

Analyzing monthly performance, XRP ETFs remain positioned for their strongest month in 2025, having accumulated over $118 million in new assets. Their previous peak occurred in November of the preceding year when they attracted $666 million.

Blockchain analytics reveal XRP continues migrating away from centralized exchanges, a movement certain traders interpret as evidence of long-term accumulation strategies by investors.

Ripple’s RLUSD stablecoin has surpassed $1.8 billion in total assets, establishing it as the third-largest regulated stablecoin by market capitalization. The 30-day adjusted transaction volume recorded on the XRP Ledger reached an impressive $11.8 billion.

XRP declined from a recent peak of $1.5485 achieved on May 14 to approximately $1.28 as of Thursday morning trading. The subsequent support level drawing analyst attention sits at $1.12, corresponding to its February nadir. Overhead resistance occupies the $1.33–$1.36 range.

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