Overview
- XRP fell back below the $1.20 pivot after a June 17 session surge in selling volume that broke short-term support and forced a late attempt to stabilize.
- Buyers absorbed much of the decline near $1.17–$1.18 and prevented a larger collapse, leaving that zone as the immediate support to watch.
- The token had nearly met a roughly 14% technical breakout target close to $1.30 from a symmetrical triangle flagged by analyst Ali Martinez but could not hold those gains and now shows growing bearish momentum on short timeframes.
- Reports put more than $1.8 billion of XRP accumulated via over-the-counter trades and spot ETF flows were net positive this month, though demand is concentrated on specific venues such as Upbit and not broadly distributed.
- On-chain data show sustained withdrawals from exchanges and heavy wallet concentration, which make the market thin and sensitive to large orders, so reclaiming $1.20–$1.22 is needed for bulls to resume higher moves while failure to do so could trigger a deeper correction.