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Mr.Arshman

06/23 09:28

XRP stabilizes near $1.10 after major 2026 decline

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Following a wave of heavy selling in the cryptocurrency market, $XRP is attempting to stabilize near the $1.10 mark, aiming to form a short-term bottom after what is described as one of the major pullbacks of 2026. The asset, having dipped below major support lines and exited a multi-month trading range, continues to face downward pressure despite some signs of recovery.$XRP recently lost its $1.28 support level, which had served as a key floor for most of March, April, and May. This breakdown accelerated selling, dragging the price down to recent lows around $1.05. Despite a brief rebound, the recovery was limited, indicating that market participants remain cautious even as the price attempts to rally. Technical indicators reveal that significant resistance areas remain above the current price. The 50-day moving average stands at $1.20, while the 100- and 200-day averages are positioned at $1.28 and $1.35 respectively, reflecting an ongoing advantage for sellers in the broader trend. For a more meaningful turnaround, analysts note that $XRP would need to reclaim these levels as new support zones. Trading volume has shown a more balanced signal. There was a notable spike in volume during the initial breakdown, suggesting that much of the selling may have played out during that phase. As panicked selling has eased, volumes have gradually returned to normal, while the Relative Strength Index (RSI) is now attempting an upward move after exiting oversold territory. While the downward momentum in $XRP has waned compared to the first wave of selling, this alone does not confirm a lasting trend reversal. In the near term, investors are closely watching the $1.20 level. A sustained move above this threshold could open the door to a broader rebound toward $1.28, while failure to break higher keeps the risk of revisiting recent lows on
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