coindesk.com 
$XRP is no longer fighting over $1.20. It's fighting over whether $1.10 holds. The latest selloff came with the kind of volume usually associated with forced liquidations rather than orderly selling, pushing the token to its weakest levels in months before dip buyers finally showed up near $1.09.
News Background
• $XRP ETFs recorded roughly $4 million in inflows after seeing their first daily outflow in three weeks, bringing cumulative inflows to around $1.5 billion.
• Market sentiment deteriorated sharply across crypto, with the Fear & Greed Index falling into extreme fear territory as traders reacted to broader macro uncertainty.
• $XRP also slipped behind USDC in market capitalization rankings after the selloff pushed its value below $75 billion.
Price Action Summary
• $XRP fell from $1.17 to $1.11 during the 24-hour session, touching lows near $1.09 before recovering slightly.
• The biggest move came during the June 5 06:00 UTC session, when volume surged to 268.2 million $XRP and accelerated the breakdown.
• A failed rally toward $1.133 later reversed sharply, sending price to fresh lows before buyers stepped in near $1.10.
Technical Analysis
• 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.
• The move below $1.10 briefly pushed $XRP into one of the most oversold conditions seen in years, with weekly RSI readings reaching levels that historically appeared near major cycle lows.
• Even so, oversold does not automatically mean bullish. Markets can stay oversold for longer than traders expect, especially during liquidation-driven declines.
• The bounce from $1.09 showed signs of seller exhaustion, but recovery volume remained weaker than the selling that preceded it.
What traders should watch
• $1.09-$1.10 is now the most important support zone on the chart. Losing it would shift focus toward the $0.92 area highlighted by several analysts.
• $1.12-$1.13 becomes the first recovery zone $XRP needs to reclaim before any stabilization narrative gains credibility.
• The broader trend remains bearish until $XRP starts reclaiming former support levels rather than simply bouncing from oversold conditions.
• Traders looking for evidence of a durable bottom will likely want to see stronger volume on rebounds than on selloffs, something the market has not yet delivered.
