The party ended quickly for XRP and XLM. After attracting fresh attention in recent weeks, both cross-border payment tokens are now facing a wave of selling pressure that’s proving difficult to ignore.
XRP has fallen 15%, dropping from $1.34 to $1.14, while XLM has suffered an even steeper decline, sliding 27% from $0.2744 to $0.1978. Thursday marked the fourth consecutive day of losses for both assets as retail sentiment weakened and leveraged traders rushed for the exits.
XRP ETF Outflows Add Fresh Pressure
For XRP, the latest headwind came from spot ETF activity. Data showed XRP ETFs recorded $5.34 million in outflows on June 3, adding another layer of caution to an already fragile market. At the same time, XRP open interest declined to $2.59 billion on Thursday from a recent high of $2.99 billion recorded on May 31.
Also, XRP liquidations reached $25.53 million, with long positions getting wiped accounted for $24.28 million.
That’s a notable reduction in speculative positioning. Traders aren’t just reducing exposure; they’re actively stepping away from the market.
XLM Long Squeeze Hits Hard
XLM’s decline appears closely tied to fading momentum after excitement surrounding its DTCC-related narrative.
Open interest peaked at $361 million on May 30 but dropped sharply to $260 million by June 4. The unwinding became even more obvious in derivatives markets, where back-to-back long squeezes rattled traders.
On June 4 alone, total XLM liquidations reached $3.19 million, with long positions accounting for $2.71 million of that figure. When bullish bets get wiped out at that scale, confidence tends to disappear quickly.
Critical Support Levels Now Under Watch
The charts now point to several important levels. For XRP price, the $1.13 area has emerged as a key support zone. If buyers defend it, a recovery toward $1.30 remains possible. However, failure to hold that level could expose a deeper move toward $0.88.
Meanwhile, XLM price is testing support around $0.20039, a level that aligns closely with its 200-day EMA. The token only recently reclaimed that technical benchmark. If selling pressure forces a breakdown below it, traders may begin watching the $0.14042 region as the next major support area.