XRP Under Pressure: Are June Lows Next? 📉
I've been watching XRP closely, and the price action isn't looking very encouraging right now. XRP has slipped below $1.20 after failing to break through the $1.28 resistance level earlier this week. That rejection appears to have shifted momentum back in favor of the bears.
One of the biggest reasons for the weakness is the broader market environment. The Federal Reserve's latest stance on interest rates has made investors more cautious, and risk assets like crypto are feeling the pressure. The Crypto Fear & Greed Index has also dropped deeper into the "Extreme Fear" zone, showing that traders are becoming increasingly defensive.
I'm also seeing signs of declining participation from both institutional and derivatives traders. XRP spot ETFs recorded no inflows on Wednesday, while futures Open Interest fell from $2.79 billion to $2.66 billion. To me, that suggests many traders are reducing exposure rather than betting on a near-term recovery.
From a technical perspective, XRP remains below its key moving averages, which continue to act as strong resistance levels:
🔹 50-day EMA: $1.27
🔹 100-day EMA: $1.37
🔹 200-day EMA: $1.58
The MACD indicator shows that bearish momentum may be slowing, but buyers still need to step in and reclaim important levels before any meaningful recovery can begin.
For now, I'm watching the $1.08 support zone closely. If XRP loses that level, the next major target could be the June low near $1.05.
📊 Key Resistance: $1.27 | $1.37 | $1.58
📉 Key Support: $1.08 | $1.05
At the moment, caution remains the dominant theme for XRP traders.
