XRP‘s price took a downturn, falling below the crucial $1.15 mark on June 10, 2026. This drop ends its previous steady performance at this level. The decline came after XRP breached its upward trendline, which hovered at approximately $1.1620 on the hourly chart, marking intensified selling momentum in recent trading periods.
What led to the fall of XRP’s price?
Following a bounce back to $1.1863 from an earlier low of $1.05 this month, the momentum could not be sustained. XRP is trading beneath its 100-hour moving average, highlighting short-term negative pressures. Over the past week, it registered an 8% decrease, resulting in a cumulative monthly loss of 19%. Currently, XRP’s market value is $71.8 billion, with a 24-hour trading volume of $2.17 billion.
Can XRP regain its ground?
For any recovery attempts to solidify, XRP needs to reclaim $1.135 and $1.142 as immediate targets. Surpassing the $1.15 mark could pave the way towards $1.158 and $1.165. However, XRP would still face robust resistance around $1.1840.
Technical analysis reveals potential bearish developments:
- 61.8% Fibonacci retracement near $1.102 indicates the next possible support.
- A dip below $1.10 could trigger targets of $1.08 and $1.05.
- Analyst EGRAG Crypto suggests a key resistance between $1.19 and $1.25.
- A monthly close above $1.40 is necessary for confirming a double bottom pattern.
If XRP probes long-term support levels, between $0.70 to $0.90 might attract buyer interest, according to Ali Martinez. Nevertheless, the MACD remains negative, and RSI near oversold levels at 32.83 indicates diminished momentum.
The decay in derivative markets is significant, with Bybit’s open interest plunging by 36% during the recent correction, while Binance‘s trading volumes have dropped beneath their 30-day trend. The 30-day MVRV ratio for XRP stands at approximately minus 8%, implying that most recent buyers are incurring losses.
Simultaneously, the impending XRP Ledger 3.2.0 update, slated for June 15, offers some optimism. This upgrade will rebrand the core server software and bring performance enhancements, promising a potentially more robust ecosystem for XRP moving forward.
