XRP slips below $1.07 support as bears target lower levels
XRP price has fallen through the $1.07 support area and is now at risk of fresh losses. The token is down about 8% over the past week, extending losses after breaking below the $1.085 support zone.
On the daily chart, XRP slipped under the Murrey Math 3/8 level ($1.0742). The next key downside reference is the Murrey support near $0.9766. Momentum is weak: the 14-day RSI is around 33, close to oversold, but without a confirmed bullish divergence. On the 4-hour chart, XRP remains inside a descending channel after a failed rebound, while Supertrend stays bearish (resistance near $1.115). Aroon signals also favor sellers.
Liquidation data from CoinGlass shows clusters of leveraged short liquidations around $1.09 and another liquidity pocket near $1.045 below current price—both could act as near-term price magnets. However, the lack of similar liquidity above suggests limited short-squeeze fuel unless fresh demand appears.
Catalysts remain mixed but tilted bearish. Traders are watching a July 1 regulatory deadline in California under the Digital Asset Financial Assets Law, as Ripple has not yet appeared on the state’s confirmed-applicant registry. On-chain, exchange inflows rose as large holders moved tokens to exchanges, pointing to reduced exposure. XRP Ledger activity has been subdued after the long-running SEC case concluded. Macro conditions also weigh on risk assets as investors price fewer Fed cuts amid higher geopolitical-driven energy costs.
Technical invalidation would be a recovery above the $1.085–$1.11 resistance band and a breakout from the descending channel. Failure to defend ~$1.045 could expose $1.00, opening the door to a deeper move toward $0.97 and potentially the $0.75 area cited by analyst Altcoin Sherpa.
Bearish
The article’s core message is that XRP has already lost a key support ($1.07) and multiple technical indicators still point to a downtrend. With daily price slipping under Murrey Math levels and the 4-hour structure still trapped in a descending channel, rallies are more likely to be sold until XRP reclaims the $1.085–$1.11 resistance band.
Liquidation clusters around $1.09 and $1.045 can create short-term downward magnets, while the absence of comparable liquidity above reduces the probability of an immediate short squeeze. This setup often leads to a “grind lower” pattern seen in prior breakdowns of major supports, where shorts add on weakness and any relief bounce gets faded.
Fundamental/regulatory timing also leans negative: uncertainty ahead of a July 1 California regulatory deadline and weaker on-chain catalyst signals (exchange inflows from large holders, subdued XRP Ledger activity). When combined with macro risk-off dynamics (fewer expected Fed cuts, higher energy-driven inflation concerns), altcoins like XRP typically underperform and volatility increases as leverage unwinds.
Short-term, traders should watch $1.045 and $1.00 as decision levels for whether the selloff accelerates toward $0.97. Long-term, sustained recovery above resistance would be required to invalidate the bearish structure; otherwise, market behavior is likely to remain range-to-down, with sellers controlling rallies.