XRP slid to $1.32 on Tuesday, its lowest level in 15 weeks, as selling pressure overwhelmed exchange outflows. The drop marks a sharp reversal for the token, which had been trading above $2 last month. Prices have since stabilized, but traders remain split on whether a bottom is forming or more losses lie ahead.
Sellers overpower exchange outflows
Data from on-chain analytics shows that exchange outflows — typically a bullish signal suggesting holders are moving coins into cold storage — were not enough to counteract aggressive selling. Sellers consistently pushed prices lower, with $1.32 becoming the floor for now. The imbalance between buy and sell orders on major exchanges deepened the decline.
Stabilization and the base formation question
After hitting the low, XRP bounced slightly and has been trading in a narrow range. Some traders see this as the start of a base — a price level where accumulation could eventually lift the token. Others warn that the lack of buyer conviction could lead to another leg down. The next few sessions will test whether $1.32 holds as support.
What traders are watching now
Volume has tapered off since the sell-off, suggesting the market is waiting for a catalyst. No major regulatory news or exchange listings have been announced this week. The token's relative strength index sits near oversold territory, which historically has preceded short-term bounces — but not always. Traders are monitoring order book depth for signs of large buy walls that could signal institutional interest.
The key unresolved question: will $1.32 become a floor or just a stop on the way to $1.20?
