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06/17 10:05

XRP gives back breakout gains, slipping below $1.2

#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #1$ Margin Trade XRP gives back breakout gains, slipping below $1.23 on heavy selling $XRP's push above $1.25 lasted only a few hours. Sellers showed up near the highs and drove the token back through $1.23 on some of the session's heaviest volume, turning what looked like a breakout into a reminder that the market is still struggling to absorb supply left behind by the recent selloff. News Background • $XRP ETF products recorded a second straight week of inflows, attracting $10.68 million and lifting cumulative inflows to roughly $1.44 billion. • South Korea's Upbit exchange continued to account for an outsized share of $XRP activity after wallet-flow dominance climbed from 13% to 31% in the week through June 14. • Ripple continued expanding its payments infrastructure, including recent activity tied to RLUSD and cross-border settlement initiatives. Price Action Summary • $XRP fell from $1.2619 to $1.2205 during the 24-hour session, losing 3.3%. • Selling accelerated during the afternoon session when volume surged to 87.5 million $XRP, breaking support near $1.2240. • A late recovery attempt reached $1.223 before reversing sharply, reinforcing that area as near-term resistance. Technical Analysis • The key development was the loss of the $1.22-$1.23 area, which traders had been watching after $XRP's rally above $1.20 earlier in the week. • Volume expanded during the decline rather than the rebound, suggesting sellers remained in control throughout most of the session. • The failed bounce near $1.223 reinforced the lower-high structure that has emerged since $XRP was rejected near $1.25. • Despite the pullback, $XRP remains above the $1.20 area that marked the initial breakout zone, leaving the broader recovery structure damaged but not broken.

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