Key Highlights
- XRP breached the critical $1.31 support threshold, declining to $1.2801 with a 4% decrease over 24 hours
- Network participation on XRP Ledger plummeted 42% to approximately 18,000 active addresses on Wednesday
- Exchange-traded funds tracking XRP saw $1.32 million in withdrawals Wednesday, adding to Monday’s $2.3 million exodus
- Technical analyst CasiTrades projects possible downturn to the $1.05–$1.09 price zone
- Derivatives market signals bearish sentiment with negative funding rates alongside climbing open interest
The digital asset XRP is hovering around $1.30 following its breach of the $1.31 threshold on April 3, 2026. The cryptocurrency slid to an intraday bottom of $1.2801, representing a 4% pullback within a single day, per CoinMarketCap statistics. Market participants drove volume up by more than 23% as the breakdown unfolded, demonstrating significant engagement during the selloff.
Earlier this week, XRP made an effort to rebound but encountered resistance around $1.37 on Monday. From that point forward, the asset has experienced consistent downward pressure, sliding through multiple near-term support barriers.
The cryptocurrency is now positioned beneath its 20-day, 50-day, and 200-day exponential moving averages (EMAs). The 50-day EMA is located around $1.44, with the 200-day EMA positioned near $1.89 — both considerably above where the asset currently trades.
Technical indicators paint a bearish picture: the MACD line has crossed beneath its signal line and entered negative territory. Meanwhile, the RSI hovers around 38, sitting below the neutral midpoint of 50, suggesting diminished momentum though not yet reaching oversold conditions.
Network Participation Experiences Sharp Decline
The number of active addresses conducting transactions on the XRP Ledger contracted by approximately 42% to roughly 18,000 on Wednesday, compared to nearly 32,000 the previous day. Data from CryptoQuant reveals that engagement across the network has stayed subdued since the beginning of February, with only occasional brief upticks.
Reduced network participation typically correlates with diminished buying demand and softer upward price pressure.
Institutional Withdrawals from ETFs Intensify
Exchange-traded products holding XRP experienced withdrawals totaling $1.32 million on Wednesday. This follows the $2.3 million in outflows registered on Monday, based on SoSoValue tracking. Tuesday’s activity remained relatively quiet.
The pattern of back-to-back withdrawals points to waning institutional appetite for XRP exposure in the near term.
Technical analyst CasiTrades identified the failure to hold $1.31 as a significant bearish development. Her analysis suggests the asset may gravitate toward the $1.05–$1.09 corridor, with a potential further decline to $0.87, which she identifies as the final substantial support within a broader macro correction phase.
🚨Breakdown Playing Out on XRP! 🚨
We just saw $1.31 support break, and this is exactly what I mentioned in the last update. Once that level failed, a sharp move down was likely.
Now that momentum is kicking in, I’m expecting this to carry into the $1.05–$1.09 range, which is… pic.twitter.com/MPgQQuEdzM
— CasiTrades 🔥 (@CasiTrades) April 2, 2026
Information from CoinGlass reveals substantial liquidity concentrations between $0.90 and $1.10, areas that frequently attract price during aggressive selloffs.
Perpetual futures funding rates for XRP have shifted into negative territory at -0.0087%, signaling that market participants are increasingly positioned for further declines. Open interest has expanded by more than 1.3%, while futures trading volume has swelled to approximately $3.34 billion. With spot market volume lagging behind, leveraged positions appear to be the primary force behind current price movements.
Traders should monitor resistance levels at $1.3240 and $1.3340. A sustained close above $1.3340 could potentially trigger a recovery toward $1.35 and $1.3650. Conversely, support zones at $1.2880 and $1.2750 represent the next critical floors on any continued downside movement.
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