XRP Breaks $1.05 Support, Eyes $1 as Bearish Momentum Builds

XRP (XRP) slid to its lowest level since late 2024 after breaking below the closely watched $1.05 support, underscoring how a broad 'risk-off' turn across crypto is pressuring even large-cap tokens. With technical signals deteriorating and no fresh fundamental catalyst from Ripple Labs, traders are now fixated on whether the token can defend the psychologically important $1.00 level.

As of 2:00 p.m. UTC on Thursday, June 26, XRP traded at $1.0178, down 5.18% over the past 24 hours, according to CoinMarketCap data. The token posted roughly $2.8 billion in daily trading volume and a market capitalization near $63.35 billion, keeping it among the largest crypto assets by size. Losses have compounded across timeframes, with XRP down 9.96% over the past week, 23.49% over the past month, and 27.87% over the past 60 days—drawdowns that multiple market trackers described as a return to prices not seen since the end of 2024.

Technicians say the price action remains locked in a clear 'descending channel', a pattern typically associated with sustained bearish momentum. Momentum gauges have also weakened: the MACD indicator has flipped into negative territory, signaling that downside trend strength is building rather than fading. Analysts citing volume-profile data added that the market shows thinner 'buy walls' below the $1.20–$1.90 region, implying less structural demand to absorb sell pressure if XRP continues to slide.

In practical terms, chart watchers argue the near-term roadmap hinges on reclaiming $1.05. Failure to retake that level—especially if XRP also remains capped by the downtrend resistance line—keeps downside targets in focus. Some analysts highlighted $0.88 as the next major area of interest, with $0.75 flagged as a deeper support zone if liquidation pressure accelerates. FXStreet’s Asia-session commentary similarly noted that XRP’s weekly decline has brought it within striking distance of $1.00, turning the round number into an immediate referendum on sentiment.

The move, however, has not been isolated to XRP. Market observers characterized the drop as part of a broader retreat as Bitcoin (BTC) slipped below $59,000 while Ethereum (ETH) drifted toward $1,500, drawing selling across major altcoins. Bitunix said its trading brief showed BTC, ETH, Solana (SOL), and XRP all consolidating within relatively tight ranges while investors wait for a new catalyst—an environment that can quickly tilt lower when risk appetite is already fragile.

Notably, the selloff has arrived without a clear, XRP-specific headline. No confirmed announcements were seen from Ripple Labs or major financial partners regarding ecosystem expansion, new partnerships, or regulatory breakthroughs during the session. While speculative narratives circulated online—including commentary suggesting the XRP Ledger (XRPL) could play a role in U.K. climate-bond infrastructure—those claims were not tied to official policy statements or a verified Ripple roadmap.

Meanwhile, opinion columns in outlets such as Yahoo Finance and The Motley Fool have debated whether the pullback could eventually prove constructive for long-term buyers, but those pieces largely reflect author views rather than new fundamental disclosures. In the near term, trading remains dominated by macro uncertainty and technical posture rather than fresh project developments.

On network and supply metrics, XRP maintained a crypto market share of about 3.1049% and stood in sixth place by overall market capitalization. Its fully diluted valuation was estimated around $101.78 billion, with roughly 62.24 billion tokens in circulation out of a maximum supply near 99.98 billion—an overhang that some analysts note can matter when markets are already sensitive to dilution and liquidity conditions.

For now, analysts broadly agree that the next decisive move is likely to be dictated by whether XRP can hold $1.00 and mount a recovery above $1.05. Until those levels are reclaimed and the downtrend line is broken, the prevailing view is that bearish momentum—amplified by a market-wide 'risk-off' backdrop—will continue to define XRP’s short-term trajectory.