Will XRP hold $1.29 support level amid market selloff?

2026-4-2 10:29

Ripple’s XRP has shed 3% of its value in the last 24 hours and now trades around the $1.3 level.

The bearish performance comes as the broader cryptocurrency market gave up the gains it had accumulated earlier this week.

XRP is also showing signs of weakness, with retail and institutional interest declining.

XRP institutional and retail interest fades

Ripple announced the launch of its Digital Asset Accounts and Unified Treasury within Ripple Treasury on Wednesday, a key development in integrating digital assets into core corporate finance functions.

This marks the introduction of the first Treasury Management System (TMS) with native digital asset capabilities, directly embedded into the treasury management process.

With this launch, Ripple has taken the corporate treasury into a new era, focusing on overcoming one of the biggest adoption challenges: complexity.

CFOs and their treasury teams can now seamlessly view, hold, receive, and manage both fiat and digital liquidity within a single platform.

This integration eliminates the need for multiple platforms, reconciliation workflows, and manual consolidation.

“This is a unique offering in the treasury management space, establishing a key competitive advantage for Ripple Treasury and its clients,” Ripple stated in its press release.

Furthermore, retail and institutional demand for XRP has declined over the past few days.

Data obtained from CoinGlass revealed that XRP spot Exchange-Traded Funds (ETFs) shed 981,000 XRP tokens ($1,275 million) on Wednesday, its second outflow so far this week.

The US-listed ETFs experienced outflows totalling $2.3 million on Monday.

Cumulative inflows have steadied at $1.21 billion, while net assets under management have dropped to around $944 million, from the record $1.65 billion on January 1.

XRP retail demand has also declined over the past few days.

The XRP futures Open Interest (OI) now reads $2.37 billion, down from the $2.54 billion recorded on Wednesday.

XRP’s OI peaked at a record $10.94 billion in July, coinciding with the price hitting an all-time high of $3.66.

The decline in OI over the past nine months has dampened retail investor interest in the token, signalling their reluctance to take on additional risk.

XRP bulls hold the $1.29 support

The XRP/USD 4-hour chart is one of the most bearish among the top 10 cryptocurrencies by market cap.

XRP is trading at $1.31 as its near-term bias stays neutral-to-bearish. The coin has been consolidating over the past few days after failing to break above the $1.43 resistance level.

The cluster of 50-day, 100-day and 200-day Exponential Moving Averages (EMAs) well above spot underscores a dominant downside backdrop.

XRP’s Moving Average Convergence Divergence (MACD) indicator holds below the signal on the 4-hour chart, suggesting persistent negative momentum.

The Relative Strength Index around 47 remains below the midline on the same chart, reinforcing downside pressure. 

If the bulls regain control, XRP will face immediate resistance at $1.37, ahead of the $1.40–$1.43 band that capped recent bounces.

Closing the daily candle above $1.42 would ease the bearish pressure and pave the way toward the $1.45–$1.52 zone. 

However, if the bearish trend persists, immediate support emerges at $1.33, followed by last week’s low near $1.30.

Failure to defend this level would expose the $1.25 demand handle.

The post Will XRP hold $1.29 support level amid market selloff? appeared first on Invezz

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