XRP fell 5.2% to $2.31 after falling to $2.31, underperforming rivals as traders react to Wall Street plans for the stablecoin.
Ripple (XRP) fell 5.2% in the past 24 hours to trade at $2.31 on Saturday, underperforming its top five rivals. Derivatives data showed that short-term traders were closing positions quickly, even as Bitcoin (BTC) touched a new all-time high of $111,807. What’s next for $BTC price?
Ripple (XRP) rebounds to $2.31 despite bullish Bitcoin outlook
Ripple (XRP) lagged behind the broader crypto rally on Friday, lower on macro turbulence and fresh sector-specific risks.
While Donald Trump's threats of 50% tariffs on the EU fueled fresh institutional demand for Bitcoin on Friday, $XRP failed to capture the rally.
XRP fell 5.1% to open trading at $2.31 on Saturday from Friday's $2.44, according to data from CoinGecko.
In contrast, Bitcoin hit a record high of $111,807, adding $934 million in daily ETF inflows, the second-highest daily total since inception.
With a 5.2% loss, XRP emerged as the worst-performing top five asset by market cap. In particular, BTC, Ethereum, Solana, and BNB all outperformed XRP, each posting daily time-frame losses of less than 5% at the time of publication.
Why is XRP price down today?
XRP price underperformance on Friday reflected growing concerns among investors about Ripple's ability to compete in the global stablecoin market, especially after JPMorgan led a group of four major banks to pitch the idea of a new Wall Street local digital dollar.
On Friday, the Wall Street Journal reported that the largest US banks, JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are exploring the launch of a joint USD-backed stablecoin.
The plan, still in the conceptual stage, involves using blockchain infrastructure providers such as Early Warning Services and The Clearinghouse to improve payment speeds, reduce cross-border friction, and take advantage of the market share of existing stablecoins launched by crypto-native firms, including Ripple’s RLUSD, Circle’s USDC, and Tether (USDT).
Ripple launched RLUSD in March 2025 as a regulated US dollar stablecoin on both the XRP ledger and Ethereum.
Backed 1:1 by US dollar reserves and short-term Treasuries, RLUSD serves as the payment and liquidity backbone for RippleNet and its on-demand liquidity (ODL) product suite for institutional players.
At the time of publication on May 24, Ripple's native stablecoin now commands a circulating capital of $310 million, according to the latest RLUSD data from Coingecko.
However, the emergence of a "Wall Street Stablecoin" backed by the top four US banks is particularly interesting among institutional players as RLUSD continues to grow. There is a risk of reducing market dominance.
What's Next for XRP Price Action as Open Interest Falls Below $5B?
XRP futures fell 1.47 percent to $4.89 billion, further underscoring open interest in the bearish outlook in futures markets, indicating that traders are actively deleveraging the Ripple-backed coin.
The snapshot of Coinglass’ Derivatives trading below shows how the total value of XRP Open Interest (OI) – active derivatives contracts – has decreased by 1.5%, shedding over $50 million in the past 24 hours.
Meanwhile, trading volume surged 51.84 percent to $6.97 billion, suggesting that price declines were driven by strong selling pressure the previous day.
Furthermore, $XRP Options Open Interest increased by 47.99% to $1.69 million, while options volume doubled to $16,570.
This indicates increased hedging activity, as traders brace for volatility following Wall Street news of the stablecoin and Trump's new tariffs on the European Union, which will take effect on June 1, 2025.
24-hour liquidation data confirms that $14.88 million of XRP longs were liquidated, and $1.02 million of shorts were liquidated for total positions of $15.89 million.
The 12-hour window alone has eliminated $5.02 million in long positions. This suggests that much of the recent selling pressure has come from long traders who were caught off guard by the JPMorgan news.
If XRP open interest continues to fall toward $4.5 billion, spot price action could test key support levels at $2.20 and $2.10.
Will XRP Recover?
Conversely, Bitcoin's current stability above $108,000 provides a favorable macro backdrop. As XRP price stabilizes above $2.30 over the weekend, Bitcoin's stable above $108,000 could offer a technical buffer for XRP bulls in the near term.
Technically, a recovery to $2.45 is possible if XRP holds the $2.20 support and derivatives open interest reclaims the $5 billion level.
XRP Price Prediction Today: Bears Eye $2.08 Reversal After Key Moving Average Breach
Ripple (XRP) was trading at $2.3066 at press time, down 5% from Friday, but the technical outlook remains cautiously bearish as XRP has moved below the 9-day and 21-day moving averages ($2.3697 and $2.3556, respectively).
This signal emphasizes the growing risks to the downside. Failure to hold these key trend lines suggests weakening short-term momentum, especially as price is now closing below the short-term MA for the first time since early May.
The Relative Strength Index (RSI) is sitting at 48.46, below its neutral 50 line and diverging from its moving average (currently 56.86), which means bearish momentum is building.
This further indicates that sellers may continue the pressure until the bulls claim control above $2.37. If the current weakness persists, the $2.08 level could emerge as the next major support.
While the Bitcoin price forecast today is largely positive, broader sentiment in altcoin markets lacks bullish conviction.
This contributes to XRP's indecisiveness, with a weak follow-through above $2.40 undermining earlier breakout attempts.
A decisive daily close above $2.37 would be needed to reverse the short-term outlook bullishness and challenge the $2.60 highs.
On the contrary, Ripple price may drop towards the $2.08–$2.10 region if bearish sentiment prevails over the weekend.
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