XRP plunges to 15-week lows as $1.30 support collapses!

XRP dropped 4% to fresh 15-week lows on June 1, breaking decisively below the $1.30 support level that traders had defended for weeks. The breakdown came on the heaviest volume of the session — 96.26 million XRP traded during the 13:00 UTC candle alone — as bitcoin-led weakness dragged the broader market lower. Price fell from $1.3109 to a session low of $1.2668, a 3.4% decline, before a brief recovery attempt toward $1.2791 was quickly sold back down.

Why it matters

The loss of $1.30 is technically significant because it removes one of the most closely watched support levels on the XRP chart and confirms a structure of lower highs and lower lows that has been building for weeks. More than 25 million XRP moved off exchanges in recent days — a signal that typically points to accumulation — but those outflows have not translated into sustained buying pressure. Rallies continue to be treated as selling opportunities, suggesting the market is not yet convinced the washout is complete.

Market impact

Immediate support now sits at $1.2650-$1.2670, with the first resistance zone at $1.2730-$1.2750. A reclaim of $1.30 would be the minimum required to shift sentiment, but until that happens the next major downside target is the $1.20 area. Traders will be watching whether accumulation-driven outflows eventually overwhelm selling pressure, or whether the broader crypto weakness continues to override any asset-specific demand for XRP.