XRP Sinks Deeper as the Psychological $1 Mark Comes Into Play

XRP remains in freefall as broader market turmoil pushes the token closer to losing the psychological $1 level. The recent break towards $1.01 now puts the path toward deeper support zones squarely on the table.

The next few sessions could decide whether bulls reclaim control or another leg down kicks in.

Why XRP Is Now in Freefall Across the Market

The broader macro backdrop is not helping. Bitcoin has briefly slipped below $59,000, and Ethereum continues to trade dangerously below the $1,600 support zone. As a result, weakness has spread across the entire crypto market, dragging XRP down with it.

“There is a VERY strong likelihood of a market bounce/relief in the coming weeks as June comes to its end. Historically, during midterm years, Bitcoin tens to find a local bottom in June before witnessing relief, but it will likely be a trap before the final drop in Q4 $XRP fam,” crypto analyst ChartNerd said on X.

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XRP Price Performance. Source: BeInCrypto Markets

XRP has dropped roughly 3.31% in the last 24 hours, according to BeInCrypto data, signaling that selling pressure is accelerating rather than slowing. Furthermore, the token now trades within a descending channel on the weekly timeframe, with sellers firmly in control across all meaningful trading windows.

The $1.01 has cracked under that pressure. This zone had previously absorbed multiple corrections and served as a reliable cushion. However, repeated failed bounces from the level have flipped it from defensive support into fresh overhead resistance for the broader market structure.

Below the current prices sits a far less crowded zone. The volume profile thins out dramatically between $0.88 and $0.73, creating what traders call a volume gap. As a result, the price could move more quickly across that region because fewer historical buyers are ready to absorb the supply.

What Comes Next for the XRP Price Structure

The current setup keeps the bearish bias firmly intact. The token has slipped out of its high-volume value area, while the broader weekly structure continues to tilt against any short-term bullish recovery attempts across global trading venues.

For bulls to reclaim the initiative, XRP needs to sustain the $1.05 support. Furthermore, the token must push back above the descending resistance trendline that has capped every meaningful rally attempt over the past several weeks.

Until those two conditions align, the path of least resistance points lower. The first downside target sits at $0.86 and $0.87, where minor demand could attempt to slow the decline. However, a break of that level would open the door directly toward $0.73 next.

The psychological $1 mark sits right in the middle of that risk zone. A clean breakdown would not only trigger fresh stop-loss flows but also further damage retail sentiment. As a result, defending the level becomes critical for any short-term stabilization scenario across the broader XRP market.

Traders are now watching the next few daily closes for clarity. A decisive close above $1.05 would point to a relief bounce. Conversely, sustained closes below the current range would confirm the descending trend and push $0.73 into immediate striking distance.

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The post XRP Sinks Deeper as the Psychological $1 Mark Comes Into Play appeared first on BeInCrypto.