XRP's price has declined from its key supply range of $1.50 to test the support level at $1.45 on Monday. The remittance token is reflecting a shift in broader crypto market sentiment, which has been influenced by fresh tensions between the US and Iran.
According to reports, US President Donald Trump has rejected Iran's proposal to end the war in the Middle East, citing concerns over Iran's sovereignty over the Strait of Hormuz. This development has led to a surge in XRP-related digital investment products, with nearly $40 million in inflows last week.
The technical outlook suggests that XRP is testing its rebound strength above support levels. The Relative Strength Index (RSI) and Money Flow Index (MFI) are indicating a pause rather than an outright reversal after the recent surge. However, the Moving Average Convergence Divergence (MACD) histogram is contracting and starting to weigh on momentum.