CoinDesk
XRP slipped roughly 4% to trade near $1.19 on Tuesday after briefly pushing above $1.22, as heavy selling knocked the token back through the closely watched $1.20 level. The token fell from $1.2170 to $1.1869 over the 24-hour session, a 2.5% drop that erased most of the prior day's breakout gains. Selling intensified during the June 17 19:00 UTC session, when volume surged to 128.7 million XRP — more than double normal levels — and broke support at $1.20.
Buyers eventually stepped in near $1.1750, absorbing the selling pressure and producing a late-session rebound that held above the session low of $1.1747. The recovery kept XRP within the $1.17–$1.18 support zone and preserved last week's breakout from the $1.11–$1.15 demand area that launched the latest recovery rally.
Why it matters
The loss of $1.20 is the key development. That level had acted as support after XRP's breakout above $1.14 and $1.18 earlier in the week, and its failure tells traders the breakout lacked follow-through. Volume expanded during the decline, suggesting the move was driven by active selling rather than thin liquidity or a lack of buyers. XRP's push toward $1.25 ran into the same problem that has capped every rally since the spring selloff: sellers waiting overhead. Despite the rebound from early June lows, longer-term charts still show XRP trading beneath major moving averages, leaving the broader structure mixed.
Market impact
The immediate setup is now well-defined. $1.1750–$1.1850 is the support zone that absorbed the latest selloff and needs to hold to keep the correction contained. $1.20 becomes the first resistance level bulls need to reclaim to regain momentum, with $1.22 and then $1.25 the next upside markers where recent rallies have repeatedly stalled. A break below $1.1750 would increase the risk of a move back toward the $1.15 area and unwind the breakout entirely, while a recovery above $1.20 would suggest the pullback was simple profit-taking rather than the start of a larger reversal.
Frequently asked questions
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Why did XRP drop below $1.20?
Heavy selling pushed XRP from $1.2170 to $1.1869 over the 24-hour session, a 2.5% drop. Volume surged to 128.7 million XRP during the June 17 19:00 UTC candle — more than double normal levels — breaking the $1.20 support that had held since the prior breakout.
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Did the pullback undo last week's XRP breakout?
Not fully. Buyers stepped in near $1.1750 and produced a late-session rebound, keeping XRP within the $1.17–$1.18 support zone and preserving the breakout from the $1.11–$1.15 demand area that launched the recent recovery.
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What is the key support level for XRP now?
The $1.1750–$1.1850 zone is the immediate support after absorbing the latest selloff. A break below $1.1750 would increase the risk of a move back toward $1.15 and unwind the breakout entirely.
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What resistance does XRP need to reclaim?
Traders are watching $1.20 as the first level bulls need to reclaim, followed by $1.22 and then $1.25. A recovery above $1.20 would suggest the pullback was profit-taking rather than the start of a larger reversal.
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What does the volume tell us about the XRP selloff?
Volume doubled to 128.7 million XRP during the breakdown, suggesting the move was driven by active selling rather than thin liquidity. The expansion is the clearest evidence the decline had genuine supply behind it.
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