On June 10, 2026, XRP experienced a critical market shift as it fell below the $1.15 support level, a threshold vital for its trading stability. The downturn gained momentum following a breach of the ascending trendline on the hourly chart near $1.1620, indicating increased selling pressure.
Can XRP Recover Lost Ground?
After dropping to a monthly low of $1.05, XRP staged a rapid recovery climbing up to $1.1863. However, this recovery was short-lived, with XRP sliding back under its 100-hour simple moving average, underscoring the pervasive bearish mood.
Over the past week, XRP has decreased in value by about 8%, extending its losses for the month to a staggering 19%. Its market cap is currently lodged at $71.8 billion, amid a 24-hour trading volume of $2.17 billion, highlighting significant market activity amidst considerable volatility.
Will Sellers Dominate the Market?
The $1.102 level, corresponding with the 61.8% Fibonacci retracement, remains a critical support zone. If XRP falls under $1.10, it could ignite increased selling pressure towards $1.08, setting the stage for a potential retest of the $1.05 region if the negative trend continues.
According to EGRAG Crypto, “Closing above $1.40 on a monthly basis would confirm the double-bottom pattern emerging near $1.05; conversely, a drop below $1.14 could see XRP returning to the $1.10 zone.”
Market analyst Ali Martinez highlights that XRP is nearing its longstanding ascending trendline, a historical support level. Failing to hold at this level may see demand emerge within the $0.70 to $0.90 range as a buying opportunity.
Martinez states, “A retest of the long-term ascending trendline could draw buyer interest between the $0.70 and $0.90 band, based on historical demand patterns.”
The technical landscape indicates persistent selling dominance. The MACD indicator remains below its signal line with negative histogram readings, while an RSI of 32.83 skirts the oversold boundary, hinting at susceptibility to further losses.
– Bybit’s open interest saw a 36% drop amidst the recent downturn, signaling weakened derivatives interest.
– Binance trading volumes dipped below the 30-day moving average post-breakdown.
– XRP’s MVRV ratio currently sits at minus 8%, signifying many holders face unrealized losses.
The anticipated XRP Ledger 3.2.0 update is scheduled for June 15, aiming to enhance system efficiency with a rebranding of the core software to xrpld. While these improvements are geared to boost performance, market dynamics remain focused on reclaiming lost support levels amidst ongoing pressures.
