XRP nears oversold zone as whale withdrawals sink to 2021 low

$XRP traded under pressure on June 2 as weak momentum, falling whale withdrawals, and bearish chart signals kept the token hovering near a key support area. The asset was trading around $1.26 to $1.28, down more than 3% in the past 24 hours, according to crypto.news data. $XRP also dropped more than 5% over the past week and more than 9% over the past month. The latest price action left $XRP close to its 24-hour low. The charts, in classic fashion, are not in a giving mood.

Trading volume remained active at nearly $2 billion, though buyers had not managed to push the token back into its recent range near $1.35 to $1.45. $XRP is still the fifth-largest crypto asset by market value. Its market cap stood near $78 billion, while its fully diluted valuation stayed above $126 billion. The token also trades far below its all-time high of $3.65, reached in July 2025. Over the past year, $XRP has lost more than 40%, and its 200-day change remains deeply negative.

RSI and MACD keep pressure on $XRP

Technical indicators show $XRP is close to oversold territory, but not quite there. The RSI sat at 31.55, while its moving average hovered near 39.87. A reading below 30 often signals oversold conditions, so $XRP is near that zone without crossing it. The weak RSI reading shows sellers still control short-term momentum. A short bounce remains possible if traders react to the near-oversold setup, but the indicator does not yet confirm a trend change. $XRP price chart, source: crypto.news

The MACD also remains bearish. The MACD line stood at -0.0286, below the signal line at -0.0212. The histogram was at -0.0074, showing downside pressure is still active. The histogram is not very wide, so the current selloff is not sharply accelerating. Even so, $XRP needs stronger spot demand before the chart can show a stable recovery setup.

Whale withdrawals from Binance hit a low

CryptoQuant analyst Arab Chain said $XRP whale withdrawals from Binance fell to about 978 million $XRP over the past 30 days. That marked the lowest level since 2021. Whale withdrawals often signal whether large holders are moving coins away from exchanges. Higher withdrawals can point to long-term holding or reduced immediate selling supply. Lower withdrawals can indicate caution, weak demand, or a wait-and-see market. Source: CryptoQuant

The latest data shows large $XRP holders are not moving coins off Binance at the same pace seen during earlier bull phases. In 2021 and parts of 2024 and 2025, stronger rallies often came with a sharp rise in withdrawals. The current reading points to a calmer market. It may also show weaker conviction from large holders while $XRP trades in a narrow range. If withdrawals rise again while price improves, traders may treat that as a stronger demand signal.

ETF inflows fail to lift weak momentum

$XRP ETFs recorded $4.13 million in inflows, pushing total net assets to about $1.11 billion. This shows that regulated $XRP products still attract capital even as the token price remains weak. The inflows arrived, the price did not get the memo.

NEW: $XRP ETFs record $4.13 million inflows, pushing total net assets to $1.11 billion https://t.co/1K0bS8tpBH pic.twitter.com/P6aTHW0QS1 — crypto.news (@cryptodotnews) June 2, 2026

As crypto.news reported, $XRP ETFs also drew $131.94 million in May, their strongest monthly inflow of 2026. During the same month, Bitcoin and Ethereum funds faced heavy withdrawals. That fund demand has not yet translated into a strong spot market recovery. $XRP still trades below the recent consolidation area, and chart signals remain weak.

Market attention now sits on the $1.35 to $1.45 area. A move back above that range could ease short-term pressure and bring $1.50 back into focus. If $XRP fails to defend the current zone, traders may watch $1.10 next.

Some analysts have also pointed to $0.85 to $0.65 as a deeper accumulation area if support breaks. Deep accumulation, in this market, tends to arrive uninvited.

ChartNerd said $XRP has rejected two countertrend rallies since the 5-day 20/50 EMA death cross in November 2025. The analyst noted that $XRP formed a lower high near $2.40 in January and another near $1.5