XRP recently experienced a decline below the pivotal $1.15 level, signaling a loss of crucial support in its latest market session on June 10, 2026. The trend became more pronounced after the cryptocurrency slipped past the uptrend line at $1.1620 on the hourly chart. Additionally, market insights reflect that XRP is trading beneath its 100-hour simple moving average, hinting at short-term bearish sentiment.
What key levels are reshaping the market landscape?
This month started with XRP recovering from a $1.05 low and attaining a peak of $1.1863. Nonetheless, this recovery was short-lived, as the bullish momentum waned rapidly. Over the past week, XRP decreased by around 8%, with a 19% fall recorded for the entire month. The current market capitalization stands at $71.8 billion, and the 24-hour trading volume is approximately $2.17 billion.
For a possible rebound, resistance could emerge at $1.135 and $1.142. If XRP manages to cross $1.15, zones like $1.158 and $1.165 could become focal points, with notable resistance at $1.1840.
EGRAG Crypto noted the quick reversal to $1.1860, adding that he aims for a target of $1.19 to $1.25, cautioning that failure of $1.14 support might push prices back to $1.10.
What are the potential consequences of further declines?
In case of further downside movements, the 61.8% Fibonacci retracement level near $1.102 serves as a substantial support area, with $1.10 being the next defense line. Should XRP close below this level, $1.08 might face increased selling pressure, potentially causing a revisit to the earlier $1.05 monthly low.
Analyst Ali Martinez highlighted that XRP is nearing a long-term ascending trend line that has historically functioned as support during various market phases. He suggests that if current levels do not hold, the $0.70 to $0.90 range needs attention as a probable demand zone.
Technical indicators reflect a fragile short-term outlook. Key insights include:
- MACD remains below its signal line, with the histogram remaining negative.
- RSI is at 32.83, dangerously close to the oversold mark of 30.
- Bybit’s open interest witnessed a 36% decline amid the recent selloff.
- Binance‘s trading volume has fallen below the 30-day average.
According to Santiment, XRP’s 30-day MVRV ratio companies a negative 8%, signaling many recent purchases are now losses on paper. Moreover, significant sell walls exist between the current price and $1.34, challenging short-term recovery.
Looking forward, the XRP Ledger is poised for a 3.2.0 upgrade deployment on June 15. This enhancement intends to amend the network’s core software from “rippled” to “xrpld,” targeting improved efficiency and minimized memory usage.
