XRP Plunges 3% As ETFs Bleed Record $93M: What Is Going On?

XRP (CRYPTO: XRP) spot ETFs on Thursday suffered their largest single-day outflow, with $93 million in net redemptions on Thursday, as XRP dipped to $1.80 on Friday morning.

Record ETF Outflows Driven By Grayscale

Grayscale's GXRP (NYSE:GXRP) drove the selloff with $98.39 million in redemptions, overwhelming modest inflows from other funds.

Canary's XRPC (NASDAQ:XRPC) and Bitwise's XRP ETF (NYSE:XRP) recorded $2.10 million and $2.41 million in daily inflows, respectively.

Despite the heavy redemptions, XRP spot ETFs saw $71.48 million in total value traded, indicating strong market participation.

As a result, total XRP spot ETF assets fell to $1.21 billion, down from $1.39 billion in the prior session, marking a $180 million single-day decline.

Price Action Shows Mounting Pressure

XRP is down 3%, with bearish momentum building across all timeframes.

XRP sits below all four EMAs in perfect bearish order—20 EMA at $1.93, 50 EMA at $2.00, 100 EMA at $2.13, and 200 EMA at $2.27. 

The widening gap between price and these averages confirms strong selling pressure.

The Supertrend indicator at $2.04 flipped bearish and remains well above current price, confirming the downtrend is intact.

Critical Support Test At $1.76

The key level is $1.7652, marked by major horizontal support that held multiple times in the past. XRP currently trades dangerously close to testing this floor.

A break below triggers accelerated selling toward the $1.40-$1.60 zone with minimal structural support between current levels and that range.

The broken trendline around $1.90-$1.95 acts as immediate resistance, followed by the 20 EMA near $1.93. 

For any meaningful reversal, XRP needs to reclaim $2 and the 50 EMA, which appears unlikely given current momentum.

Broader Crypto Weakness Adds Pressure

Bitcoin (CRYPTO: BTC) fell to $81,100 in early Friday trading, its lowest level in nine months and down 34% from its October peak of $126,080. 

Moreover, the U.S.-listed spot Bitcoin ETFs saw $817.9 million withdrawn Wednesday, the largest daily outflow since November.

The total crypto market cap dropped roughly $200 billion in 24 hours as geopolitical tensions drove rotation into safe-haven assets. 

Additionally, President Trump declared a national emergency targeting countries supplying oil to Cuba, while the U.S. sent another warship to the Middle East as Iran tensions escalated.

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