XRP is facing its most significant technical breakdown in three years after closing June at $1.04, down 22% and marking the first monthly settlement below the critical $1.26 support level since 2023. The digital asset also breached its 50-month exponential moving average, a line it had held nearly continuously for over three years. Trading at $1.13 on Tuesday, the token now sits precariously above the $1.00 psychological threshold, which analysts identify as the final major defense for bulls.
Chart analysis indicates a potential staged decline if the dollar parity level fails, with downside targets at $0.67 (representing a 35% drop), $0.47 (a 55% decline), and ultimately $0.29 (a 71% plunge to 2022-2023 bear market lows). These levels align with historical resistance and support zones from 2018 through 2024. Market direction will likely be influenced by Bitcoin’s price floor and an upcoming CLARITY Act vote now pushed to late July, both of which could determine whether XRP stabilizes or continues its breakdown.
FXnCO Insight
Traders should watch the $1.00 level closely as a break below parity could trigger cascading sell orders toward the $0.67 target zone.
Source: Finance Magnates