XRP Drops 4% as Bitcoin and Ethereum Also Decline Amid ETF Outflows

XRP experienced a 4% decline on Thursday, dropping from $1.34 to $1.27, falling below the $1.30 support level. According to NS3.AI, Bitcoin also fell by 4% to $72,000, while Ethereum saw a 5% decrease to $1,975. Piper Sandler has issued a warning that the Strait of Hormuz could remain closed for months, potentially driving oil prices to new highs. Recent data indicates that XRP ETF inflows slowed in May, and Bitcoin faced a significant $700 million ETF outflow this month.