The XRP Ledger processed nearly one million transactions in a single day last week, and Ripple secured Matt Damon as a keynote speaker for its flagship conference — yet the token’s price continues to bleed lower. On Friday, XRP lost its grip on the $1.15 support level, falling 3.4 percent to around $1.14, before edging back to roughly $1.15. The selloff accelerated in the afternoon, with trading volume surging to over 134 million tokens — a spike of roughly 170 percent above the session average.
The divergence between on-chain vibrancy and price action is striking. The network handled approximately 900,000 transactions on June 15 and nearly 770,000 the following day, with more than half classified as direct payments. Yet that fundamental strength has failed to translate into any technical momentum. Ripple’s Swell conference, scheduled for October 27–29 in New York, will feature Damon alongside Tom Farley, chairman and CEO of Bullish, and more than 75 speakers across 50-plus sessions covering stablecoins, tokenization, DeFi, ETFs, and AI-powered finance. Damon’s appearance is tied to Ripple’s partnership with Water.org, where the company serves as exclusive digital-asset and payments partner for the “Get Blue” campaign. Ripple provides initial capital and uses its payments platform to facilitate low-cost loans for water and sanitation. The connection to XRP is indirect but real: Ripple’s RLUSD stablecoin runs on the XRP Ledger infrastructure, meaning any RLUSD transactions pass through the same network — even if XRP itself is not used as the settlement token.
Should investors sell immediately? Or is it worth buying XRP?
None of that has stopped the technical deterioration. Year-to-date, XRP has lost nearly 39 percent of its value, and it trades well below the 200-day moving average. The token has plunged roughly 70 percent from its 52-week high of $3.65 set in July 2025. The relative strength index sits at 40, signaling weak momentum without reaching oversold territory. The $1.15 level, which was support, now flips to resistance. If buyers fail to reclaim it quickly, the next downside target lies in the $1.13–$1.14 zone. The year’s low of $1.05, marked in early June, is once again within striking distance.
A sustained trend reversal would require a clean break above the descending trend line at $1.25 — a line that has capped every relief rally. Until then, every bounce is likely to attract fresh selling. The Swell announcement alone has done little to change that calculus. Whether the conference in October generates enough network activity to alter the technical picture — and whether traders interpret it as a buy signal — will depend on execution, not star power.
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