2026-6-5 13:56 |
XRP declined sharply over the last 24 hours alongside the broader crypto market after a wave of forced liquidations wiped out more than $1.7 billion in leveraged positions across digital assets.
The token is now down 33% year-to-date, and while it is not the worst performer in the sector, the latest sell-off has raised concerns that a longer-term correction could be unfolding if key technical levels fail to hold.
Trading activity increases amid selling pressureMarket activity surged during the selloff, with XRP trading volumes jumping 56% in the past 24 hours to around $3.4 billion, representing approximately 4.4% of its circulating market cap.
The surge in volume suggests increased liquidation-driven selling rather than gradual distribution, reflecting broader stress across leveraged markets.
Investor sentiment has weakened further amid rising geopolitical tensions, particularly in the Middle East.
Key concerns include the ongoing stalled negotiations between the United States and Iran and the threats of escalating conflict if diplomatic progress fails.
Investors are also concerned about the proposed tariff increases by President Donald Trump on 60 countries.
These developments have contributed to a sharp deterioration in risk appetite across markets.
The Crypto Fear and Greed Index has dropped to 19, placing sentiment near “Extreme Fear” territory.
The bearish performance is supported by the weakness displayed in the ETF market.
According to CoinGlass, XRP exchange-traded funds (ETFs) recorded an outflow of $5 million on Wednesday.
This was the first outflow recorded in 21 days. Currently, the funds hold approximately $1 billion in net assets and around $1.4 billion in cumulative inflows.
This divergence suggests that while short-term traders are exiting positions, longer-term institutional capital continues to accumulate exposure.
XRP technical outlook: Critical support at $1.10 in focusThe XRP/USD 4-hour chart is bearish and efficient thanks to the latest market selloff. The weekly chart shows that XRP is trading around a key historical support level.
A notable long-term signal emerged when the Relative Strength Index (RSI) dropped below 30, an oversold condition that has previously preceded strong rallies. The MACD lines are also within the negative territory.
At press time, XRP is trading at $1.15. If the selloff continues, the bulls would need to defend the $1.10 invalidation level to stand a chance of a recovery.
A daily candle close below this level could see the XRP retest the $0.80 support zone in the near term.
However, if the $1.10 support level holds, XRP could immediately target the first resistance at $1.36. An extended rally would allow XRP to target the May high of $1.55.
A break below $1.10 would invalidate the historical bullish setup and increase the likelihood of deeper downside continuation.
While XRP is approaching oversold conditions on lower timeframes, analysts note that price action remains fragile.
A temporary rebound toward resistance levels remains possible, but sustained recovery likely depends on whether the $1.10 support zone can hold amid broader market volatility and liquidation-driven selling pressure.
The post XRP crashes toward key $1.10 support as crypto liquidations explode appeared first on Invezz
origin »Bitcoin price in Telegram @btc_price_every_hour
Selfkey (KEY) на Currencies.ru
|
