XRP (Ripple), Bitcoin (BTC) show joint weakness... If $1.1 is not maintained, $1 defense line is in emergency

▲ XRP, Bitcoin (BTC)/AI generated image

XRP has fallen to within just 12% of the $1 mark. As a result, it is under dual pressure from a breakdown of its long-term trend and a concurrent weakness in Bitcoin (BTC).

According to the investment media outlet 24/7 Wall Street on June 18 (local time), XRP was trading around $1.14, moving closer to the $1 support line. XRP had previously dropped to $1.07 earlier this month, marking its lowest point since November 2024, before a slight rebound. 24/7 Wall Street pointed out that the distance between the current price and $1 is only about 12%, suggesting that the possibility of further decline cannot be taken lightly.

At the heart of the selling pressure was the futures market rather than spot selling. Leveraged traders quickly drove down the price, and general buying power could not absorb it, leading to a sharp sell-off rather than a gradual correction. XRP also fell below its 200-day moving average of around $1.17, which is used as a long-term trend indicator, leading to an assessment that its upward trend has been damaged.

24/7 Wall Street noted that the signals investors consider supportive factors are not actually leading indicators. It explained that the $1.10-$1.13 support zone, XRP ETF fund inflows, whale accumulation, and discussions on the U.S. cryptocurrency market structure bill (CLARITY) are all signals that react belatedly after a decline has already begun, rather than defending the price in advance. Claude suggested that if the XRP price falls, ETF funds will flow out, whales will move their holdings to exchanges, and anticipation for the bill could also weaken.

The key variable is Bitcoin. 24/7 Wall Street analyzed that the trend of XRP falling to $1 is more likely to originate from a further decline in Bitcoin itself rather than XRP. Bitcoin is already hovering around $64,000 and has fallen by approximately 16% in the past month. If Bitcoin continues its weakness, XRP could also face concurrent pressure, and if futures selling continues to suppress weak spot demand, buying orders in the $1.10-$1.13 support zone could gradually be exhausted.

The decisive price point presented by Claude is $1.10. It analyzed that if XRP falls below $1.10 based on the daily closing price, there may not be much buying power to slow the decline to $1. On the other hand, 24/7 Wall Street saw a higher probability of XRP making a short-term rebound rather than collapsing immediately from its current range. This is because oversold conditions have appeared, and ETF fund inflows are continuing. However, if XRP fails to recover its 200-day moving average and Bitcoin does not stabilize, the price trend could still lean downwards for the next few weeks.

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