XRP Slides Toward $1.10 As Buyers Face Another Support Test

Summary: XRP is back near a level buyers have defended several times this month. The token traded close to $1.10 on June 23 after falling from a 24-hour high near $1.16, according to Coinmarketcap. The move came as the wider crypto market weakened, with Bitcoin falling below $63,000 and liquidations rising across altcoins. Ripple also had a positive regulatory headline after winning preliminary MiCA approval in Luxembourg, but that was not enough to lift XRP while broader market sentiment remained weak. The chart now needs a clear response from buyers. XRP has to hold $1.10 and reclaim $1.15 to stabilize. If $1.10 fails on a daily close, the next levels to watch are $1.05 and $1.00.

Key Takeaways

1. XRP traded near $1.10 on June 23 after falling from a 24-hour high near $1.16.
2. Bitcoin fell below $63,000 as a tech-led risk-asset selloff spilled into crypto and liquidations rose across altcoins.
3. Ripple received preliminary MiCA approval from Luxembourg’s financial regulator, which could help the company offer stablecoin payment services in Europe.
4. XRP is still holding the $1.10 level, but repeated tests are making the support more important.
5. XRP needs to reclaim $1.15 to ease short-term pressure. A daily close below $1.10 would put $1.05 and then $1.00 back in focus.

XRP Returns To A Level Buyers Have Defended Before

XRP has moved back toward one of the most important levels on its short-term chart. The token has tested the $1.10 area several times this month, and buyers have managed to defend it so far. The problem is that each rebound has struggled to move far enough above $1.15 to change the wider tone.

The latest move followed a similar pattern as XRP traded near $1.10 on June 23 after reaching a 24-hour high close to $1.16. Sellers pushed the token back down before the recovery could develop into anything stronger, which left the market focused once again on whether $1.10 can hold.

In such setups the level itself becomes more important with every test. A support level can look strong when buyers defend it once or twice. It can start to look weaker when price keeps returning to the same area without a stronger bounce as it usually indicates bulls are losing strength.

XRP is not broken yet, but buyers need to show more conviction. Holding $1.10 keeps the current structure alive. The level to watch here is $1.15 as reclaiming this area will show that buyers are doing more than simply delaying another move lower.

Market Weakness Is Making The Setup Harder

XRP’s move also came during a weaker session for the broader crypto market. Bitcoin fell below $63,000 as pressure from tech stocks spilled into digital assets, while CoinDesk reported that liquidations across crypto reached about $717 million.

This is important to take into consideration because altcoins usually struggle to build clean recoveries when Bitcoin is under pressure. Traders become more cautious, leverage gets reduced, and rebounds tend to fade faster. XRP can still defend its own levels, but it needs stronger demand to do that when the broader market is weak.

The latest selloff also did not come from an XRP-specific failure alone. It happened while risk appetite across crypto was already poor. That makes the $1.10 test more important because the token is trying to hold support without much help from the wider market.

A stronger Bitcoin recovery would improve the mood, but XRP still has to solve its own chart problem. Buyers need to turn the next bounce into a move through $1.15, otherwise the same support test could keep repeating.

Ripple’s MiCA Progress Gives A Positive Backdrop

Ripple also had a positive regulatory development on the same day. The company received preliminary approval for a Crypto Asset Service Provider license from Luxembourg’s financial regulator under the EU’s MiCA framework. If finalized, the approval would allow Ripple to offer stablecoin payment services to European companies and expand into broader crypto functions across the bloc.

This is useful for the wider Ripple story because it strengthens the company’s regulated payments push in Europe. It also fits with Ripple’s broader focus on stablecoins, institutional payments, and cross-border settlement.

The market reaction, however, shows that regulatory progress alone is not always enough to move the altcoin when the broader market is weak. Traders are still watching price first. As long as XRP stays below $1.15 and keeps returning to $1.10, the chart will remain under pressure even with a better long-term headline in the background.

For now, the MiCA news gives XRP a supportive story, but the token still needs a technical recovery to match it.

XRP Technical Analysis Shows $1.15 As The First Recovery Level

XRP’s daily chart is still sitting near support after another failed recovery attempt. The token has reacted from $1.10 several times this month, but the bigger issue is that every bounce keeps losing strength before it can turn into a proper recovery.

The first support is obviously the $1.10 mark here. XRP needs to hold this level to keep its June structure alive. A daily close below this level would show that buyers are no longer defending the same area with enough strength.

The next support is $1.05. This is the cleaner downside level before the market starts watching $1.00. If XRP breaks below this area, the move would likely put more pressure on sentiment because b is both a technical and psychological level.

On the other hand the first resistance is $1.15. XRP reached this area during the latest session but failed to hold above it. A daily close above this level would be the first sign that buyers are doing more than defending support.

Above $1.15, the next recovery level is $1.20. This is the level XRP needs to reclaim before the chart starts looking healthier. A move above $1.20 would show that the token has moved beyond a simple support reaction and is starting to rebuild momentum.

RSI is useful here because it is close to oversold territory on the daily chart. That shows selling pressure is stretched, but it does not confirm a bottom on its own. XRP still needs price confirmation above $1.15 before the RSI signal becomes more meaningful.

For now, the chart remains defensive. XRP needs to hold $1.10 first, then reclaim $1.15. If $1.10 breaks, the next levels are $1.05 and $1.00.

What to Expect Next

• Bullish case: XRP holds $1.10 and reclaims $1.15 on the daily chart. That would show buyers are still defending support and could open a move toward $1.20.
• Bearish case: XRP loses $1.10 on a daily close. That would expose $1.05 first, followed by the psychological $1.00 level if selling pressure continues.
• Key catalyst: Broader market sentiment remains important. If Bitcoin stays weak, XRP may struggle to build a strong rebound from support. Ripple’s MiCA progress gives the token a supportive backdrop, but price still needs to confirm strength.
• Invalidation: A daily close above $1.20 would weaken the bearish setup. A daily close below $1.00 would confirm that XRP has lost the wider support structure.

Why is XRP falling today?

XRP is falling as the broader crypto market weakens and buyers test the $1.10 level again. Ripple’s preliminary MiCA approval is a positive headline, but the token still needs to reclaim $1.15 before the chart improves.

What XRP price level matters now?

The key level is $1.10. XRP needs to hold this support and reclaim $1.15 to stabilize. A daily close below $1.10 would put $1.05 and then $1.00 in focus.

Is XRP oversold?

XRP is close to oversold territory on the daily RSI, which shows selling pressure is stretched. That does not confirm a bottom by itself. Buyers still need to defend $1.10 and push price back above $1.15.

Can XRP recover from here?

XRP can recover if buyers defend $1.10 and push price back above $1.15. A stronger recovery would need a move above $1.20. If $1.10 breaks, the chart would likely shift toward $1.05 and then $1.00.