XRP Price Tumbles Amid Macro Concerns and Regulatory Delays

XRP's price has experienced a significant decline to $1.31 over the past 24 hours, with a surge in trading volume reaching $1.8 billion. This move is attributed to macroeconomic concerns and a lack of immediate bullish catalysts. The broader market has seen a drop in total crypto market cap by 1.31%, driven by tensions in the Middle East and surging oil prices.

The token's price remains below its long-term descending trendline and key moving averages, indicating oversold conditions. According to technical analysis, XRP is expected to experience volatility due to these conditions. Market analysts have been waiting for spot XRP ETF decisions past the March 27 deadline, which has removed a near-term catalyst.

The immediate path hinges on the $1.30 support level. If XRP holds above this zone and Bitcoin stabilises, a relief bounce toward $1.40 is possible. However, a break below $1.30 could accelerate selling toward the next support near $1.21. The key trigger to watch is the next U.S. spot Bitcoin ETF flow data on March 31.