XRP Slides to Multi-Month Lows Amid Liquidation Selloff
XRP experiences a 5% decline, dipping below $1.10, as a liquidation-driven selloff overwhelms its support levels, according to CoinDesk. Analysts view the drop as potentially marking a capitulation phase, with market sentiment worsening as the crypto community faces growing fears and uncertainty.
XRP has recently fallen approximately 5%, reaching its lowest level in months, with the token briefly dipping below $1.10 before recovering slightly. This decline follows a high-volume breakdown that overwhelmed support around $1.20, prompting traders to consider whether this represents a capitulation or the beginning of a more significant decline.
The selloff was marked by liquidation-style selling rather than orderly market movement. Notably, XRP's market capitalization has dropped below $75 billion, allowing it to slip behind the stablecoin USDC in market value. Despite roughly $4 million in new inflows into XRP ETFs, market sentiment has soured, reflected by a drop in the broader crypto Fear & Greed Index into extreme fear territory.
Support levels are becoming critical for XRP, with analysts identifying $1.09 to $1.10 as crucial. A loss of this support could shift focus towards the $0.92 region, while reclaiming the $1.12 to $1.13 range is seen as the first step towards a potential recovery. Currently, the broader trend appears bearish, as prior support levels now act as resistance.
The significant volume behind the recent price movements suggests a depletion of sellers, yet any recovery has not shown strong enough volume to reverse the preceding bearish trend.
Analysts note, "The key takeaway is that support levels keep becoming resistance. What was a buying zone around $1.20-$1.25 just days ago is now where sellers are reappearing." Market participants remain watchful for stronger rebound volumes, which have not yet materialized.
In summary, the focus for traders is on whether XRP can maintain support around $1.09-$1.10. If these levels hold, it could pave the way for recovery attempts; however, the overall bearish sentiment persists as traders analyze volume patterns and price action closely.
Summary based on original reporting by Shaurya Malwa at CoinDesk, originally published Jun 5, 2026. SolanaWire does not republish source content.
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