XRP slides 2.8% as weak bounce keeps $1 support in focus

XRP experienced a 2.8% decline, trading around $1.07 and losing key support at $1.0850. This price action places the token near the lower end of its June trading range, with traders now viewing the $1.05 to $1.07 band as crucial support. A failure to hold this level could shift market attention back to the significant psychological barrier of $1.

Analysts suggest XRP remains in a defensive position below $1.0850. For bullish sentiment to return, the token would need to reclaim $1.10, which would indicate the recent breakdown was a temporary shakeout. The breakdown occurred during Tuesday's trading session, accompanied by a surge in volume, pushing XRP through the $1.0850 support level. Subsequent selling drove the price to an intraday low near $1.0446 before a modest rebound occurred, though this recovery was characterized by weak volume and failed to challenge the breakdown zone.

The loss of $1.0850 has converted this level into resistance, presenting an immediate hurdle for buyers. The intraday chart continues to display a pattern of lower highs, with rallies stalling before sellers re-enter the market. XRP's current defensive structure persists as long as it trades below $1.0850 and repeatedly tests the same support band. The broader crypto market also saw a pullback, with major tokens and Bitcoin experiencing pressure.