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XRP has found some stability after a significant drop, with buyers protecting the $1.09 level, yet the token remains within a broader downtrend.
By Shaurya MalwaUpdated Jun 8, 2026, 6:09 a.m. Published Jun 8, 2026, 6:06 a.m. 2 min readMake preferred onKey Takeaways:
- After a sharp downturn, XRP has stabilized, with buyers defending the $1.09 level; however, it is still in a broader downtrend.
- Significant outflows from exchanges and steady inflows into ETFs indicate potential accumulation beneath the surface, although the price action seems more like bottom-fishing than a new uptrend.
- Traders are monitoring support levels around $1.13 to $1.14 and resistance at $1.15 to $1.20, which could indicate further declines towards $1.00 or a sentiment recovery.
Summary of Price Action
XRP has managed to recover after one of its most intense sell-offs this year, with the recovery appearing more as stabilization than a shift in trend. The token has bounced back from levels not seen since before the November 2024 surge, yet each attempt to rally faces selling pressure, leaving XRP caught in a battle between oversold conditions and ongoing market de-risking.
Background Information
• Recently, over 25 million XRP have exited exchanges, continuing a trend that suggests accumulation rather than immediate liquidation.
• XRP-related ETF products have seen a surge in capital, with approximately $118 million inflows in May, bringing total inflows to nearly $1.4 billion.
• Analysts are increasingly identifying the $1.10-$1.20 range as a possible stabilization zone following XRP's recent 17% weekly decline.
Price Movement Overview
• XRP increased by 1.6% during the session, bouncing back from lows around $1.09 and moving towards $1.14.
• The most significant spike occurred during the 22:00 UTC session, when trading volume rose to 145.3 million XRP, pushing prices past resistance near $1.1350.
• Momentum waned towards the close, with XRP dropping from $1.1488 to $1.1386 before buyers returned near support levels.
Technical Insights
• The overarching narrative is that XRP remains confined within a descending channel despite the recent bounce. Although the recovery alleviated immediate downward pressure, it failed to disrupt the broader pattern of lower highs.
• The RSI has reached one of its most oversold levels since before the November 2024 rally, indicating that selling pressure may be waning.
• The ongoing exchange outflows and ETF inflows suggest a potential accumulation phase beneath the surface, yet the price movements still resemble a market searching for a bottom rather than initiating a new upward trend.
• The bounce from $1.09 is significant as it demonstrates buyers' willingness to defend this level, although sustained buying remains limited.
What Traders Should Monitor
• The $1.13-$1.14 range is now a crucial near-term support area following the latest rebound.
• $1.15 serves as the first substantial resistance level and marks the upper limit of the current descending channel.
• A breakthrough above $1.20 would signal the initial signs of XRP beginning to recover from the recent declines.
• If support near $1.10 fails again, traders may turn their attention to the psychologically significant $1.00 level as the next downside target.
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