Quick overview

Live XRP/USD Chart

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Glassnode’s data reveals a concerning trend. XRP investors disposed of their tokens with an average realized profit of nearly $70 million daily this month. In late 2024, before the US elections, many of them amassed their wealth in XRP, which traded at around $0.6 .

 

Trump’s tariffs against every other nation have created global uncertainty, and the ongoing tensions in the Middle East may have contributed to this. Still, XRP’s price has failed to replicate its previous success and has remained relatively slow.  Ripple’s cross-border token had experienced a historic run in the first quarter, soaring to an all-time high of nearly $3.4.

The cryptocurrency market trended downward as investors monitored developments regarding the Middle East conflict, while XRP declined amid legal uncertainty.

The news that the US was contemplating strikes against strategic Iranian sites intensified selling pressure on Bitcoin and the broader cryptocurrency market.

The FOMC’s economic forecasts and Fed Chair Powell’s press conference on June 18 also dampened demand for the altcoin. The Fed raised its inflation forecast this year, and Fed Chair Powell warned that tariffs might delay rate cuts.

A less dovish stance from the Fed could impact risky assets by increasing borrowing costs. Aside from a few brief and unproductive attempts to escape its consolidation range, XRP’s price has spent the majority of four months trapped between $2.1 and $2.5.

Recently, XRP has moved closer to the lower end of that range; during Israel’s recent attack on Iran last week, it dropped below it. According to the XRP Bollinger Bands, this consolidation may be nearing its conclusion. The metric has tightened, and many analysts believe this could lead to another breakout soon.