XRP crashed through the $1.29 support level this week after three straight days of intense selling. Buyers haven't stepped in. And Ripple's announcement that its RLUSD stablecoin will expand into Turkey's $200 billion crypto market did nothing to slow the decline.
Break Below $1.29
The price dropped below a multi-month support floor that had held since early 2026. The selling accelerated on June 2, 2025, and hasn't let up. By Friday, XRP was trading well under $1.29 — a level traders had watched closely.
Three consecutive sessions of heavy volume pushed the token lower each day. Buyers stayed on the sidelines. The market clearly wanted out, not in.
The Turkey Play
Ripple picked this week to announce RLUSD would expand into Turkey's crypto market, one of the world's largest by trading volume. The stablecoin, pegged to the U.S. dollar, is meant to give Turkish users a way around local currency volatility. Turkey's crypto market is roughly $200 billion in size.
The timing isn't great. The announcement came mid-week, but the price kept falling. Markets shrugged. A stablecoin play in a new country doesn't fix the selling pressure on XRP itself.
Where Buyers Stand
Right now, buyers are nowhere to be found. The price action shows hesitation — no snap-back, no aggressive dip-buying. After three days of selling, the chart looks exhausted but not reversed.
The question is whether $1.29 will turn into resistance. If sellers keep control, the next floor is anyone's guess. Ripple's news cycle didn't help, and neither did the broader market this week.
