XRP’s attempt to rise toward $1.25 encountered resistance from sellers waiting at key levels, causing it to lose the $1.20 threshold on high trading volume. The token then spent the remainder of the session consolidating above support near $1.18.
While the pullback does not completely reverse last week’s breakout, it indicates that buyers must continue to work toward higher resistance levels to sustain the upward momentum.
News Background
• XRP has remained prominent following recent ETF inflows and increased institutional participation, which fueled last week’s rally above $1.20.
• Analysts are monitoring the $1.11-$1.15 demand zone, which they consider the critical threshold distinguishing a correction from a more significant market breakdown.
• Despite the rebound from early June lows, longer-term charts indicate XRP remains below major moving averages.
Price Action Summary
• XRP declined from $1.2170 to $1.1869 over the 24-hour period, representing a 2.5% decrease.
• Selling pressure intensified during the June 17, 19:00 UTC session, with trading volume surging to 128.7 million XRP—more than double the average—and breaching the $1.20 support level.
• Subsequently, the token attracted buyers around $1.1750, enabling a modest recovery that held above the session’s low of $1.1747.
Technical Analysis
• The breakdown of the $1.20 level represents a critical development, as it had previously served as support following XRP’s breakout above $1.14 and $1.18 earlier in the week.