The price of XRP fell for a second straight day on Friday, hitting its lowest level since October 10. The drop has raised concerns that the token could fall further toward the $1 mark.
XRP slipped below an important support level and touched a low of $1.7575. The token is now down about 52% from its all-time high. Its market value has dropped to around $107 billion from a peak of $190 billion.
The decline comes as the broader crypto market remains weak. Rising geopolitical tensions have also hurt risk assets. Investors are moving money into safer options like gold and the Swiss franc.
XRP was also pressured by heavy selling in U.S.-listed spot XRP exchange-traded funds. Data shows these ETFs saw their largest ever daily outflow, losing more than $92 million in assets on Thursday.
Grayscale’s XRP fund led the losses, though some inflows were seen in products from Canary, Bitwise, and Franklin Templeton. Overall, spot XRP ETFs are slightly down for the month.
Activity in the futures market has also weakened. XRP futures open interest fell to about $3.2 billion, the lowest level this year. Funding rates dropped sharply, and over $57 million in bullish positions were liquidated.
Technical signals point to more downside. Charts show XRP has formed a bearish double-top pattern and moved below key moving averages. If selling continues, analysts see the next support near $1.38, with a deeper fall toward $1 still possible.
