XRP fell 1.8% in 24 hours, testing key support zone between $1.05 and $1.10

XRP remained confined within a narrow trading range throughout June, declining from $1.1313 to $1.1109 over the past 24 hours. This 1.8% drop has once again shifted market focus to the critical support region between $1.05 and $1.10. The price action has put the spotlight on whether buyers can defend this level amid ongoing pressure.

Support levels back in focus

Subdued volume and modest recoveries have kept XRP trading near the lower band in recent weeks. For much of June, the asset has hovered below a resistance area but above the crucial $1.10 support, highlighting continued indecision. Analysts note that multiple tests of this support zone often precede either a sharp upward bounce or a breakdown to lower levels.

On the upside, a noticeable change in momentum would require reclaiming the $1.18 level. To reverse the broader downtrend, some analysts are watching the $1.28 to $1.30 band for confirmation. As a result, the current landscape suggests a lack of clear trend and a price oscillating within established boundaries.

Institutional inflows persist as on-chain data weakens

Despite price pressure, institutional interest in XRP has not completely faded. On June 20, XRP ETFs received $2.4 million in fresh inflows. These funds, which track the price of the underlying asset, are traded on exchanges. The data points to resilient institutional demand even as retail investor appetite and futures metrics weaken.

Mini glossary: Open interest reflects the total number of unresolved contracts in the futures market. A decline in this indicator can signal diminishing risk appetite or a reduction in existing positions.

In contrast, network activity has slowed in recent weeks. Both positioning and open interest in futures have trended downward as well. On the technical side, losing weekly Ichimoku cloud support has contributed to a more cautious market stance.

Sell-off pressure quickly materialized

One of the sharpest rounds of selling occurred during the turnaround on June 22. Trading volume surged to 65.4 million XRP, about 84% above average levels. Prices declined steadily throughout the day, with the $1.10 support being retested before the session closed.

Looking at the broader picture, XRP continues to trade within the established range that has defined most of June’s activity. While volumes have occasionally spiked, these increases have yet to provide a clear directional signal. For market participants, the key questions remain whether the $1.05 support can hold and if a breakout above $1.18 can be achieved in the near term.

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