Key Takeaways
- XRP declined 4.32% to approximately $1.07 on July 8 following Trump’s announcement terminating the US-Iran ceasefire agreement
- President Trump’s statements sparked more than $400 million in cryptocurrency liquidations across the market
- Long position liquidations for XRP reached $8.61 million — the largest volume recorded since June 25
- XRP spot ETFs reported no new capital inflows on both July 6 and July 7
- Critical support zone between $1.00–$1.05 remains vulnerable; failure could drive price toward $0.90
XRP experienced a significant downturn on July 8 after President Donald Trump announced the termination of the ceasefire arrangement between the United States and Iran. Speaking at the NATO Summit held in Ankara, Trump used harsh language to describe Iranian leadership and indicated no further interest in diplomatic negotiations.
BREAKING: President Trump says the ceasefire with Iran is “over.”
“I don’t want to deal with them anymore, they are scum,” Trump says. pic.twitter.com/laHQdRKZUV
— The Kobeissi Letter (@KobeissiLetter) July 8, 2026
American forces had executed strikes against 80 Iranian targets on July 7, retaliating for Iran’s attacks on commercial vessels navigating the Strait of Hormuz. Trump simultaneously reinstated oil sanctions against Iran that had been suspended when the 60-day ceasefire took effect on June 17.
Oil markets responded with prices returning to the June 24 peak of $74 per barrel. Conversely, cryptocurrency markets witnessed widespread selling as investors retreated from risk-oriented assets.
XRP recorded a 4.32% decline during the session, hovering around $1.07 at press time. The market turbulence resulted in $8.61 million worth of liquidated long positions in XRP — marking the highest liquidation event since June 25. The broader cryptocurrency sector saw liquidations exceeding $400 million.
Market analyst ChartNerd (@ChartNerdTA) identified a hidden bearish divergence pattern on XRP’s daily chart, cautioning that failure to recapture the $1.15 threshold could accelerate movement back toward the $1.00 mark. This projection has materialized with notable accuracy.
$XRP has formed a hidden bearish divergence on the daily timeframe; XRP needs to reclaim $1.15 soon, or things could get ugly with a journey back towards $1.00. pic.twitter.com/YXzlS0xDi5
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) July 8, 2026
Technical Indicators Point to Downside Risk
XRP has breached its 20-day Exponential Moving Average at $1.11, signaling near-term bearish momentum dominance. The Awesome Oscillator has transitioned to red bars, further validating the current selling pressure environment.
Immediate support is positioned at the June 30 low of $1.03, with the psychologically significant $1.00 threshold serving as the next critical floor. For bullish recovery, XRP would need to establish three consecutive daily closes above $1.11 to suggest weakening bearish control. Such a development could pave the way for challenging the July 4 peak at $1.18.
In early trading on July 9, XRP hovers near $1.09, confined within a narrow trading band. Descending peaks at $1.1133, $1.0993, and $1.0932 demonstrate persistent seller resistance during recovery attempts.
Institutional Interest Remains Subdued
Ripple secured regulatory authorization in Luxembourg on July 5, achieving full compliance with the European Union’s MiCA framework. However, this regulatory milestone has failed to stimulate institutional buying interest.
Spot XRP exchange-traded funds registered no capital inflows on either July 6 or July 7. CME XRP futures activity totaled merely 635 contracts on July 7 — the weakest trading volume observed since June 12.
The XRPBTC trading pair is currently testing support around 1,700 satoshis, indicating persistent underperformance relative to Bitcoin.
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