XRP (XRP) Price Plunges 4% as Trump Ends Iran Ceasefire – Where Will It Land?

Key Takeaways

Table of Contents

XRP declined 4.32% to approximately $1.07 on July 8 following Trump’s announcement ending the US-Iran ceasefire
Trump’s declaration sparked more than $400 million in cryptocurrency liquidations across the market
Long position liquidations for XRP reached $8.61 million — the largest amount since June 25
XRP spot ETFs registered zero new capital inflows on both July 6 and July 7
Critical support zone exists between $1.00–$1.05; breaking below could drive XRP down to $0.90

XRP experienced a significant decline on July 8 following President Donald Trump’s announcement that the ceasefire agreement between the United States and Iran has been terminated. Trump delivered these remarks during the NATO Summit in Ankara, referring to Iranian leadership as “scum” and stating his unwillingness to continue diplomatic negotiations.

BREAKING: President Trump says the ceasefire with Iran is "over."
"I don't want to deal with them anymore, they are scum," Trump says. pic.twitter.com/laHQdRKZUV
— The Kobeissi Letter (@KobeissiLetter) July 8, 2026

The United States executed strikes against 80 Iranian targets on July 7, retaliating against Iranian assaults on commercial vessels in the Strait of Hormuz. Trump simultaneously reinstated oil sanctions against Iran, reversing the exemptions granted during the 60-day ceasefire that commenced on June 17.

Crude oil prices rebounded to the June 24 peak of $74 per barrel in response to these developments. Cryptocurrency markets moved inversely as investors liquidated risk-oriented positions.

XRP declined 4.32% during the trading session, hovering around $1.07 at press time. The downturn resulted in $8.61 million worth of XRP long position liquidations — marking the largest single-day figure recorded since June 25. The wider cryptocurrency ecosystem witnessed over $400 million in total liquidations.

Market analyst ChartNerd (@ChartNerdTA) identified a hidden bearish divergence pattern forming on XRP’s daily chart, cautioning that XRP must recapture the $1.15 threshold quickly or risk retreating toward $1.00. This analysis has proven prescient thus far.

$XRP has formed a hidden bearish divergence on the daily timeframe; XRP needs to reclaim $1.15 soon, or things could get ugly with a journey back towards $1.00. pic.twitter.com/YXzlS0xDi5
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) July 8, 2026

Technical Indicators Signal Weakness

XRP has dropped beneath its 20-day exponential moving average of $1.11, indicating bearish momentum in the near term. The Awesome Oscillator histogram has shifted to red, validating that downward pressure currently dominates market sentiment.

Immediate support emerges at the June 30 low of $1.03. Beneath that lies the psychologically significant $1.00 threshold. For bulls to regain control, XRP would need to close above $1.11 for three straight days. Such a move could pave the way toward recapturing the July 4 peak of $1.18.

As of early July 9, XRP is trading near $1.09, consolidating within a narrow band. Descending peaks at $1.1133, $1.0993, and $1.0932 demonstrate that sellers continue to suppress upward attempts.

Institutional Interest Remains Muted

Ripple secured regulatory approval in Luxembourg on July 5, achieving full compliance with Europe’s Markets in Crypto-Assets (MiCA) framework. However, this regulatory milestone has failed to stimulate institutional participation.

Spot XRP ETFs reported zero new inflows on consecutive days—July 6 and July 7. CME XRP futures volume registered merely 635 contracts on July 7, representing the weakest activity level since June 12.