XRP is no longer fighting for $1.20. It’s a question of whether $1.10 holds. The latest selloff occurred with the type of volume typically associated with forced liquidations rather than orderly selling, pushing the token to its weakest levels in months before dip buyers finally appeared near $1.09.
News context
• XRP ETFs saw around $4 million in inflows after recording their first daily outflow in three weeks, bringing cumulative inflows to around $1.5 billion.
• Market sentiment deteriorated sharply in the cryptocurrency space, with the Fear and Greed Index falling into extreme fear territory as traders reacted to broader macroeconomic uncertainty.
• XRP also slipped behind USDC in the market cap rankings after the selloff pushed its value below $75 billion.
Price Action Summary
• XRP rose from $1.17 to $1.11 during the 24-hour session, touching a low near $1.09 before recovering slightly.
• The largest movement occurred during the June 5 session at 06:00 UTC, when volume surged to 268.2 million XRP and accelerated the breakdown.
• A failed rally toward $1.133 then abruptly reversed, sending the price to new lows before buyers stepped in near $1.10.
Technical analysis
• The bottom line is that support levels continue to become resistance. What was a buy zone around $1.20 to $1.25 just a few days ago is now one where sellers are reappearing.
• The move below $1.10 briefly pushed XRP into one of the most oversold conditions in years, with weekly RSI readings reaching levels that historically appeared near major cycle lows.
• Even so, oversold does not automatically mean bullish. Markets can remain oversold for longer than traders expect, particularly during sell-off-driven declines.
• The rebound from $1.09 showed signs of seller exhaustion, but the volume of the rally remained lower than that of the selling that preceded it.
What traders should watch out for
• $1.09 to $1.10 is now the most important support area on the chart. Losing it would shift the focus towards the $0.92 area highlighted by several analysts.
• $1.12-$1.13 becomes the first recovery zone that XRP must recover before any stabilization narrative gains credibility.
• The broader trend remains bearish until XRP begins to reclaim former support levels rather than simply rebounding from oversold conditions.
• Traders looking for evidence of a sustainable bottom will likely want to see greater volume during rallies than during sell-offs, something the market has yet to realize.
