XRP (XRP) Tumbles 4% as Trump Terminates Iran Ceasefire Agreement

Key Takeaways

Table of Contents

XRP declined 4.32% to approximately $1.07 on July 8 following Trump’s announcement ending the US-Iran ceasefire
The geopolitical escalation sparked over $400 million in cryptocurrency liquidations across the market
XRP experienced $8.61 million in long position liquidations — the largest since June 25
XRP spot ETFs registered no capital inflows on both July 6 and July 7
Critical support zone exists at $1.00–$1.05; breaking below could send XRP down to $0.90

XRP experienced a significant downturn on July 8 after President Donald Trump announced the termination of the ceasefire agreement between the United States and Iran. During remarks at the NATO Summit in Ankara, Trump referred to Iranian leadership as “scum” and stated his unwillingness to continue diplomatic negotiations.

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The United States had conducted strikes against 80 Iranian targets on July 7, in retaliation for Iranian assaults on commercial vessels navigating the Strait of Hormuz. Trump simultaneously reinstated oil sanctions against Iran, which had been suspended when a 60-day ceasefire was established on June 17.

Oil markets responded with prices rebounding to the June 24 peak of $74 per barrel. Cryptocurrency markets moved inversely as investors liquidated risk-sensitive assets.

XRP descended 4.32% during the trading session, hovering around $1.07 at press time. The selloff resulted in $8.61 million worth of long position liquidations in XRP — marking the highest liquidation volume since June 25. The broader cryptocurrency ecosystem witnessed more than $400 million in total liquidations.

Crypto analyst ChartNerd (@ChartNerdTA) highlighted that $XRP has developed a hidden bearish divergence pattern on the daily chart, cautioning that XRP must recapture the $1.15 level promptly or face a probable retreat toward $1.00. This forecast has proven accurate thus far.

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Technical Indicators Signal Bearish Momentum

XRP has dropped beneath its 20-day exponential moving average of $1.11, indicating bearish short-term momentum. The Awesome Oscillator has shifted to red bars, confirming that sellers currently dominate market sentiment.

Immediate support is located at the June 30 low of $1.03. Below that threshold lies the psychologically important $1.00 mark. For bulls to regain control, XRP would need to close above $1.11 for three straight days. Such a move could potentially enable a recovery toward the July 4 peak of $1.18.

As of early July 9, XRP is changing hands around $1.09, consolidating within a narrow trading band. Declining peaks at $1.1133, $1.0993, and $1.0932 demonstrate that sellers continue to suppress upward momentum.

Institutional Interest Remains Subdued

Ripple secured regulatory approval in Luxembourg on July 5, achieving full compliance with Europe’s MiCA framework. However, this regulatory milestone has failed to stimulate institutional interest.

Spot XRP ETFs recorded zero net inflows on both July 6 and July 7. CME XRP futures activity totaled merely 635 contracts on July 7 — representing the weakest trading volume since June 12.