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▲ XRP, Bitcoin (BTC)/AI generated image
XRP has fallen to within just 12% of the $1 mark. As a result, it is under dual pressure from a long-term trend breakdown and an accompanying decline in Bitcoin (BTC).
According to the investment specialized media 24/7 Wall St. on June 18 (local time), XRP traded around $1.14, falling to a range close to the $1 support line. XRP briefly rebounded after falling to $1.07 earlier this month, marking its lowest point since November 2024. 24/7 Wall St. pointed out that the distance between the current price and $1 is only about 12%, meaning the possibility of further decline cannot be taken lightly.
At the center of the downward pressure was the futures market rather than spot selling. As leveraged traders rapidly drove down the price, general buying pressure could not absorb it, and the decline appeared more like a sharp sell-off than a gradual correction. XRP also fell below its 200-day moving average of around $1.17, which is used as a criterion for long-term trend judgment, leading to an assessment that its upward trend has been damaged.
24/7 Wall St. pointed out that the signals investors consider as supportive factors are not actually leading indicators. The support zone of $1.10-$1.13, XRP ETF inflows, whale accumulation, and discussions about the US cryptocurrency market structure bill (CLARITY) are all signals that react belatedly after a decline has occurred, rather than proactively defending the price. Claude suggested that if XRP's price falls, ETF funds may exit, whales may move their holdings to exchanges, and expectations for the bill may also weaken.
The key variable is Bitcoin. 24/7 Wall St. analyzed that the trend of XRP falling to $1 is more likely to originate from a further decline in Bitcoin rather than XRP itself. Bitcoin is already hovering around $64,000 and has fallen by approximately 16% over the past month. If Bitcoin continues its weakness, XRP could also face accompanying pressure, and if futures selling continues to suppress weak spot demand, buy orders in the $1.10-$1.13 support zone could gradually be exhausted.
The decisive price level presented by Claude is $1.10. The analysis suggests that if XRP falls below $1.10 on a daily closing basis, there might not be much buying pressure to slow its decline to $1. On the other hand, 24/7 Wall St. saw a greater possibility of XRP making a short-term rebound rather than collapsing immediately from its current level. This is because an oversold trend has emerged, and ETF inflows are continuing. However, if XRP fails to recover its 200-day moving average and Bitcoin does not stabilize, the price trend could still lean downwards for the next few weeks.
*Disclaimer: This article is for investment reference purposes, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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