As the overall market continues to decline, $XRP , which was originally seen as a safe haven, ultimately couldn't hold up.

Intraday drop exceeds 5%, the price falls below $1.20, accelerating downward to around $1.1 - $1.14. The bulls' previously defended $1.30 core range on the lower side for several weeks, but it has now been definitively broken!
Technical breakdown:
The monthly chart closed poorly, with the EMA 20/50 on the daily chart forming a perfect death cross and diverging downward, indicating that every rebound by the bulls is actually a "trap" for the bears, a precise setup for a short squeeze.

Narrative marginalization:
Although some sporadic institutional spot ETF funds are flowing against the trend, the skyrocketing total market cap of stablecoins globally and Ripple's own RLUSD diversion are dulling $XRP 's status as the only cross-border settlement token with absolute necessity.

Oversold but not bottomed:
Currently, the 4-hour RSI has fallen into the extreme oversold zone below 30, and a dead cat bounce could happen at any time, but the rebound with low volume is just the bears covering at high levels, making the weak market structure hard to change.