XRP is no longer struggling above $1.20. There is a debate over whether $1.10 will last. The latest selloff came with the kind of volume usually associated with forced liquidations rather than orderly sales, pushing the token to its weakest levels in months before dip buyers finally emerged near $1.09.
News background
• XRP ETFs recorded about $4 million in inflows after seeing their first daily outflow in three weeks, bringing cumulative inflows to about $1.5 billion.
• Market sentiment worsened sharply across cryptocurrency, with the Fear & Greed index falling into extreme fear territory as traders reacted to broader macro uncertainty.
• XRP also slipped behind USDC in market cap rankings after the selloff pushed its value below $75 billion.
Summary of price action
• XRP fell from $1.17 to $1.11 during the 24-hour session, hitting lows near $1.09 before recovering slightly.
• The biggest move came during the June 5 session at 06:00 UTC, where volume rose to 268.2 million XRP and accelerated the collapse.
• A failed rally towards $1.133 later reversed sharply, sending the price to fresh lows before buyers stepped in near $1.10.
Technical Analysis
• Most importantly, support levels continue to become resistance. What was a buy zone around $1.20-$1.25 just a few days ago is now where sellers are re-emerging.
• The move below $1.10 briefly pushed XRP into one of the most oversold conditions seen in years, with weekly RSI readings reaching levels historically close to major cycle lows.
• Still, oversold does not automatically mean bullish. Markets can remain oversold for longer than traders expect, especially during liquidation-driven declines.
• The rejection from $1.09 showed signs of seller exhaustion, but recovery volume remained weaker than the selloff that preceded it.
What traders need to see
• $1.09-$1.10 is now the key support zone on the chart. Losing it would shift focus towards the $0.92 area highlighted by several analysts.
• $1.12-$1.13 will be the first recovery zone XRP must regain before any stabilization narrative gains credibility.
• The broader trend remains bearish until XRP begins to regain previous support levels rather than simply bouncing from oversold conditions.
• Traders looking for evidence of a durable bottom are likely to want to see stronger volume on rebounds than on sell-offs, something the market has yet to deliver.
