XRP tumbles below $1.30 as cardano whales hit record

XRP’s downward momentum intensifies as key support breaks

Analyst Aksel Kibar emphasized that XRP’s inability to overcome the crucial $1.60 resistance zone has fueled a bearish mood. As widespread panic hit the markets and Bitcoin slipped below $73,000, XRP also lost its critical $1.30 support level, amplifying pressure on the coin.

According to Kibar, current technical charts suggest a prolonged downtrend may persist for XRP. As selling accelerates and investor confidence wanes, the price could fall as far as $0.75 in the near term.

Experts note that XRP’s repeated failure to surpass $1.60, combined with escalating geopolitical risks, has triggered a pronounced downward trend for the token.

On-chain analytics platform Santiment reported that numerous investors have had to close positions at a loss, with the MVRV indicator plunging to its lowest level since 2020. Even an inflow exceeding $118 million into XRP spot ETFs in May was insufficient to stabilize prices.

Analysts state that for a reversal to take hold, XRP needs to reclaim $1.40 swiftly; otherwise, sustained bearish pressure remains a risk.

Cash App launches no-fee USDC transfers without wallets

Cash App, a payments platform owned by Block, has rolled out zero-commission USDC transfers for its 59 million users across Solana, Ethereum, Polygon, and Arbitrum networks. The update allows instant stablecoin transfers without requiring a digital wallet or gas fees, fully abstracting away blockchain infrastructure for end users.

Cash App users can now seamlessly send USDC using their existing dollar balances. In addition, a new app feature allows for the automatic conversion of received USDC balances directly into Bitcoin.

Glossary: USDC is a stablecoin issued by Circle and pegged 1:1 to the US dollar. Users can send and receive USDC just like digital dollars on crypto exchanges, apps, or payment platforms.

Block executive Miles Suter stated that the company’s core mission is to make Bitcoin the internet’s main currency, so USDC integration both accelerates crypto adoption and opens the door to effortless Bitcoin conversions. According to Circle CEO Jeremy Allaire, this represents a pivotal step forward for digital dollar adoption worldwide.

Cardano whales accumulate, but the community remains divided

On the Cardano front, despite growing rifts within the community, on-chain data suggests large holders—or whales—are accumulating ADA at record levels. Santiment data shows that wallets holding at least 1 million ADA now collectively control more than 25.1 billion ADA.

Currently, these major holders account for 67.49% of the total ADA in circulation, marking the highest concentration since July 2017. Traditionally, such intense whale accumulation is interpreted as a longer-term bullish indicator for the token.

However, news that founder Charles Hoskinson’s $250 million medical clinic in Wyoming will close in the summer of 2026 triggered significant backlash within the Cardano community. Despite the clinic’s advanced technology, including robotics and NFTs, persistent price stagnation in ADA has dented user confidence.

Some longstanding independent outlets have accused Hoskinson of acting for personal gain, raising concerns about whether Cardano itself could face a similarly uncertain future. While whale buying intensifies, a crisis of trust continues to grip the community at large.

BTC loses ground as macro risks mount

The failure of peace efforts and heightened military tensions in the Middle East prompted a rush to safe havens, with Bitcoin dropping below its weekly support at $74,148. This shift reflects a broader aversion to risk among global investors.

Heavy spot selling has dominated not just Bitcoin, but many major cryptocurrencies, creating steep declines and rapid repricing. On the regulatory front, the US Commodity Futures Trading Commission (CFTC) and the Gemini exchange have jointly requested the annulment of an agreement for 2025, which some interpret as a sign of easing regulatory pressure.

Newly released US economic figures—including GDP, jobless claims, and core PCE inflation—are expected to fuel further volatility. Warnings from Federal Reserve officials about potential interest rate hikes underscore how robust macroeconomic data could increase the risk of additional crypto selloffs.