XRP slips below $1.20 as breakout rally stalls on heavy selling
In brief
- XRP dropped 2.5% to $1.1869 on June 17 as heavy selling broke $1.20 support.
- Volume surged to 128.7M tokens—more than double normal levels—signaling active selling pressure.
- Buyers emerged near $1.1750, allowing modest recovery above the session low.
- The $1.11–$1.15 demand zone separates a correction from a larger breakdown.
The pullback in context
XRP briefly traded above $1.22 before losing the $1.20 level on heavy volume. The $1.20 level had acted as support after XRP's breakout above $1.14 and $1.18 earlier in the week, making the break a notable shift in momentum.
XRP remains in focus after recent ETF inflows and growing institutional participation helped drive last week's rally. The pullback doesn't fully undo that move, but it does expose the tension between buyers trying to push higher and sellers waiting overhead.
Support and resistance levels
XRP is still trading above the $1.11–$1.15 demand zone that sparked the recent rally, but remains below the larger resistance band near $1.25. Analysts view the $1.11–$1.15 demand zone as the line separating a correction from a larger breakdown.
A break below $1.1750 would increase the risk of a move back toward the $1.15 area. On the upside, a recovery above $1.20 would suggest the pullback was profit-taking rather than the start of a larger reversal.
Longer-term charts still show XRP trading beneath major moving averages despite the rebound from early June lows. That structural weakness means the token needs to clear multiple resistance layers before confirming a sustained move higher.
