XRP, the 6th-largest digital asset with a market cap just shy of $67 billion may be on the cusp of losing the psychologically important $1 support level. According to technical analysis, the cryptocurrency has continued to put successive lower-lows all throughout June.
XRP continues to slide down the chart
According to the following chart, XRP is trading at around $1.05 as of Monday. It shows XRP buyers’ clear inability to defend the cryptocurrency’s price. What’s worse, if the $1 support level fails to hold, things could get much uglier for XRP.
In tandem with the declining price, XRP’s market cap is also see continuous pullback. Data from Coingecko shows that the digital asset’s market cap has fallen all the way from around $143 billion on January 5, 2026, to $66.3 billion as of Monday (June 29).
The fall in market cap confirms that XRP is finding it challenging to attract new capital inflows. At the same time, existing capital is also leaving the market.
Meanwhile, the XRP Taker Buy/Sell Ratio is also failing to provide any meaningful support. The parameter is currently hovering around 0.97 – suggesting that sellers have a slight advantage in the market.
Even more importantly – when the ratio briefly surged above 1.0 – the price failed to react positively. It shows that buying pressure has been absorbed by sellers, preventing buyers from gaining lasting control of the market.
For the uninitiated, the Taker Buy/Sell Ratio measures the balance between aggressive market buy orders – taker buys – and aggressive market sell orders – taker sells – on an exchange. A ratio above 1 indicates buyers are more aggressive than sellers, while a ratio below 1 suggests selling pressure is dominating the market.
XRP’s Ichimoku Cloud also remains bearish – with the cryptocurrency’s price trading below the cloud.
To explain in simple words, the Ichimoku Cloud is a technical indicator that helps traders measure market trend, and potential support and resistance levels. Prices above this cloud show a bullish trend, whereas prices below it indicate a bearish momentum.
Exchange data offers some encouragement
While technical indicators are pointing towards a fall from the $1 level, exchange data suggests a much more positive picture for XRP.
Exchange data from June 19 showed that XRP flows had turned bullish on leading crypto exchanges such as Coinbase and Binance. Similarly, analysis from June 11 suggested that XRP reserves on Binance had plunged to a 4-month low, increasing the likelihood of a supply-crunch.
Despite the pressing capitulation pressure, smart money continues to scoop XRP at discounted prices.
