XRP Holds $1.40 Support as Volume Slips and Recovery Remains Uneven

Ripple (XRP) is holding the closely watched $1.40 level, extending a modest near-term rebound even as longer-horizon performance remains underwater—an increasingly common pattern in a market that is recovering unevenly across major altcoins.

As of May 5, XRP was trading at $1.4052, according to CoinMarketCap data timestamped 10:58 UTC. The token was up 0.72% over the past 24 hours and up 1.28% over the past week, suggesting improving short-term sentiment. However, XRP’s 90-day return stood at -11.86%, a reminder that many buyers from the past quarter are still sitting on losses despite the recent stabilization.

XRP’s market capitalization was approximately $86.84 billion, keeping it ranked fourth among cryptocurrencies by market value. Fully diluted valuation (FDV) was estimated near $140.5 billion. Circulating supply totaled about 61.80 billion XRP—roughly 61.8% of the 100 billion maximum supply—highlighting that a substantial portion of supply is already in the market compared with many newer, more tightly held assets.

Trading activity, however, showed signs of cooling. XRP recorded about $1.96 billion in 24-hour volume, down 6.05% from the prior day. The pullback in turnover comes even as price metrics across shorter windows remain constructive: XRP gained 0.18% over the last hour, 8.13% over 30 days, and was nearly flat over 60 days at 0.13%.

That split—steady gains over one month but a deep 90-day drawdown—has led to mixed interpretations. Some market watchers argue XRP has been relatively weaker versus Bitcoin (BTC) in the broader risk cycle, limiting follow-through rallies. Others view the recent grind higher as a sign that sellers are being absorbed around a key technical area, potentially setting the stage for a sharper move if macro and crypto-wide liquidity conditions continue to improve.

Market structure data underscores XRP’s continued reliance on centralized venues. Of the roughly $1.96 billion traded in the past day, centralized exchanges accounted for about $1.9577 billion, or 99.96% of volume. Decentralized exchange activity totaled only around $702,439—about 0.04%—indicating that XRP’s footprint in DeFi remains comparatively small. Analysts typically read such a profile as consistent with XRP’s long-standing positioning around cross-border payments and 'institutional liquidity' rather than on-chain trading and composable DeFi activity.

On the narrative front, XRP continues to be linked to themes of mainstream financial integration, including ongoing discussion around ISO 20022 messaging standards and periodic market debate over whether the U.S. could formalize a 'strategic crypto reserve' framework that includes major assets. Separately, market participants have pointed to reduced regulatory overhang following the effective wind-down of Ripple Labs’ long-running dispute with the U.S. Securities and Exchange Commission, which has helped reframe XRP as a more institutionally palatable asset than during peak litigation uncertainty.

Technically, traders are treating $1.40 as a critical near-term support zone. A sustained break below that level could reopen downside risk, while a move through the $1.50 area is widely viewed as the next hurdle that could reinforce bullish momentum. Still, the decline in trading volume raises questions about how durable the current rebound may be without a fresh catalyst.

For now, XRP appears caught between improving short-term price action and lingering medium-term damage. Whether it can defend $1.40 while rebuilding volume—and whether broader cues such as Bitcoin’s direction, macro risk appetite, and new Ripple ecosystem partnerships emerge—will likely determine if this bounce develops into a more decisive trend shift.