XRP Price Slides as US-Iran Tensions Drag Down Risk Assets
XRP's price is currently trading at $1.32, down 3% on the day and 7% over the past week. The broader crypto market is under pressure due to rising US-Iran tensions, which have pushed oil prices higher and reinforced hawkish expectations around the Federal Reserve.
Despite this challenging macro backdrop, capital continues to flow into XRP spot ETFs. On Tuesday, these funds saw $14 million in inflows, bringing cumulative inflows to $1.68 billion. This is a significant amount of money that has been flowing into XRP over an extended period, with net assets averaging $1.44 billion.
Ripple's routine monthly escrow release also took place, unlocking 1 billion XRP before returning 700 million back into escrow. On-chain data shows that the XRP Ledger is still seeing strong activity, with cumulative transactions crossing 3 billion and on-chain volume surging 200% despite the price dip.
From a technical standpoint, XRP's price is below its 200-day EMA at $1.35, which has flipped into resistance. The RSI sits near 55, indicating fading bullish momentum, while the MACD has slipped back into negative territory.