Overview
- XRP, which hit a session low of $1.1401 on June 4, has closed below its $1.26–$1.55 consolidation and is trading around $1.16, shifting the chart to a plainly bearish short‑term setup.
- The move generated roughly $30 million in leveraged liquidations and briefly pushed XRP’s market cap below $75 billion, showing how thin exchange liquidity and leverage amplified the drop.
- Institutional products that had supported the token now show strain: spot XRP ETFs still have sizable cumulative AUM but recorded a one‑day outflow on June 3, weakening that demand narrative.
- On‑chain flows are mixed: more than 25 million XRP left exchanges in recent days, which often signals accumulation, while some analysts report roughly 60 million XRP of whale redistribution that likely added selling pressure.
- Network and structural items could affect what comes next because XRPL Operations announced a 3.2.0 upgrade requiring validators to update software and analysts say reclaiming about $1.30 would be needed to restore bullish momentum.