XRP loses key support as drawdown may deepen

XRP has broken below a key support level, and analysts warn the drawdown may not be over — even as the token's spot ETF products continue to attract steady inflows. SoSoValue data shows XRP ETFs pulled in $4.13 million on June 1, extending a streak that has not recorded a single outflow day through all of May.

Why it matters

The divergence between persistent ETF inflows and weakening spot price action is a notable tension. Institutional products are still attracting capital — suggesting some buyers see current levels as an entry point — but the underlying price chart is failing to hold structure. When price loses key support despite positive flow data, it typically signals that selling pressure in the broader spot market is overwhelming the incremental ETF bid.

Market impact

For XRP holders, the immediate concern is whether the broken support level now flips to resistance, which would extend the corrective phase and push the drawdown deeper before any recovery. The ETF inflow streak is a constructive data point, but it has not been enough to arrest the slide. Traders will be watching whether the next technical level holds, and whether the ETF bid accelerates enough to shift the balance.