TLDR
- XRP dropped 4.32% to trade around $1.07 on July 8 after Trump declared the US-Iran ceasefire over
- Trump’s comments triggered over $400 million in crypto liquidations market-wide
- XRP saw $8.61 million in long liquidations — its highest since June 25
- Spot XRP ETFs recorded zero inflows on July 6 and July 7
- Key support sits at $1.00–$1.05; losing it could push XRP toward $0.90
XRP fell sharply on July 8 after President Donald Trump declared that the ceasefire between the US and Iran is finished. Trump made the comments at the NATO Summit in Ankara, calling Iranian leaders “scum” and saying he no longer wants to negotiate with them.
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
The US had struck 80 targets in Iran on July 7, responding to Iranian attacks on commercial ships at the Strait of Hormuz. Trump also reimposed oil sanctions on Iran, which had been lifted when a 60-day ceasefire was agreed on June 17.
Oil prices climbed back to the June 24 high of $74 per barrel following the news. Crypto moved in the opposite direction as traders sold off risk assets.
XRP fell 4.32% on the day, trading at $1.07 at time of writing. The sell-off triggered $8.61 million in XRP long liquidations — the highest figure since June 25. Across the broader crypto market, over $400 million in liquidations were recorded.
Analyst ChartNerd (@ChartNerdTA) noted that $XRP has formed a hidden bearish divergence on the daily timeframe, warning that XRP needs to reclaim $1.15 soon or a move back toward $1.00 becomes likely. That warning has so far proven timely.
$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 Pressure Builds
XRP has broken below its 20-day EMA of $1.11, which points to short-term bearish momentum. The Awesome Oscillator bars have also turned red, confirming that selling pressure is in control for now.
The nearest support sits at the June 30 low of $1.03. Below that is the psychological $1.00 level. On the upside, a close above $1.11 for three consecutive days would be the first sign that bears are losing control. That could open the door to reclaiming the July 4 high of $1.18.
As of early July 9, XRP is trading around $1.09, stuck in a tight range. Lower highs at $1.1133, $1.0993 and $1.0932 show sellers are still capping recoveries.
Institutional Demand Stays Weak
Ripple received a license in Luxembourg on July 5, making it fully compliant with Europe’s MiCA regulations. Despite the regulatory progress, it has not lifted institutional appetite.
Spot XRP ETFs saw zero inflows on both July 6 and July 7. CME XRP futures recorded just 635 contracts on July 7 — the lowest volume since June 12.
The XRPBTC pair is also testing support near 1,700 satoshis, pointing to continued relative weakness against Bitcoin.
