XRP plunged to $1.20 on Wednesday, marking its second consecutive session of losses after failing to reclaim the $1.29 resistance level earlier this week. The Ripple-linked token dropped roughly 4% intraday and remains trapped in a structural downtrend that began at its October 2025 cycle high of $3.65. Technical analysis shows XRP rejected the lower boundary of its early June consolidation range, with the 50-day EMA reinforcing resistance at the $1.28 to $1.31 zone, creating a bearish polarity flip.
Immediate support levels sit at $1.14 and $1.07, the latter marking XRP’s 2026 low. A breakdown below $1.07 could trigger a steep decline toward the $0.93 to $0.76 zone, representing a potential 23% to 36% drop from current levels. XRP is also trading below its 200-week moving average, confirming medium-term bearish momentum. Only a decisive close above $1.31 would invalidate the breakdown scenario.
FXnCO Insight
Watch the $1.07 support closely—a confirmed break could accelerate selling toward the $0.76-$0.93 zone, presenting high-risk short opportunities.
Source: Finance Magnates