XRP Slides to $1.05 as Traders Watch Critical Levels

$XRP fell to its weakest levels in months, hitting a low of $1.05 early Saturday. The drop extends six straight days of losses, which began shortly after the token reached $1.36 on May 30. Notably, nearly $4 million in fresh $XRP ETF inflows landed during the slide, with cumulative inflows now approaching $1.5 billion — a reminder that institutional money and price action don't always coordinate their schedules. Sentiment has soured regardless, with $XRP slipping to the sixth spot in market capitalization behind USDC. The broader crypto Fear and Greed Index has also returned to extreme fear.

$XRP /USD Daily Chart, Image By TradingView $XRP dropped from $1.11 to $1.05 in the early Saturday session before recovering slightly to $1.09. Traders watch potential scenarios as price nears $1.

The move to $1.05 has pushed $XRP into one of its most oversold conditions in years, with weekly RSI readings reaching levels historically associated with major cycle lows. Markets, of course, can stay oversold longer than any trader would like — particularly during liquidation-driven declines — opening the door to a consolidation scenario where price simply chops sideways for a while.

The $1.18 level represents an important support, especially on the weekly chart, where it coincides with the weekly MA 200. Analysts are watching this level closely, as it has held up the $XRP price since November 2024. $XRP only dipped below it during last October's selloff.

$XRP has now fallen below this key support again and is currently trading beneath it, shifting focus to the next support at the $0.92 area — which would mean $XRP returning below $1. A return above $1.18 might be key to $XRP's short-term recovery, with the token eyeing $1.6 and $2 next.

The larger trend remains bearish until $XRP starts regaining previous support levels rather than simply rebounding from oversold conditions.

Evernorth CEO Asheesh Birla highlighted $XRP trading interest in Korea. "At Bitcoin Seoul this week, one of the most-traded coins in the country wasn't bitcoin. It was $XRP. On Upbit, Korea's largest exchange, $XRP /KRW consistently ranks among the top traded markets and has repeatedly topped both BTC and ETH on heavy days," Birla stated in a recent tweet.