Key facts
- XRP fell 2.5% to approximately $1.19 after briefly trading above $1.22.
- Heavy selling volume on June 17 pushed XRP below the $1.20 resistance level.
- Buyers supported the price near $1.1750, preventing a deeper decline.
- The token's rally stalled near key resistance levels, with sellers waiting overhead.
- XRP remains above the $1.17–$1.18 support zone, preserving last week's breakout.
XRP experienced a significant pullback, slipping 2.5% to approximately $1.19 after a brief surge above $1.22. The token encountered heavy selling pressure, which drove it below the crucial $1.20 resistance level. This selling intensified during the June 17 session, with volume more than doubling normal levels, breaking the $1.20 support. However, buyers emerged near the $1.1750–$1.1850 zone, absorbing selling pressure and leading to a modest late-session rebound. Despite this recovery, the price action indicates that while last week's breakout from the $1.11–$1.15 demand area remains intact, buyers still face challenges in reclaiming higher resistance levels, particularly around $1.25. Analysts are watching the $1.1750–$1.1850 area as immediate support and $1.20 as the first resistance level for bulls to reclaim momentum. A break below $1.1750 could risk a retreat to $1.15, while a sustained recovery above $1.20 might signal that the recent dip was merely profit-taking.