XRP Price Slides as Selling Pressure Intensifies
At 10:09 p.m. on June 3, XRP was trading at $1.15712, extending a sharp decline that has dominated recent sessions. The cryptocurrency was down 5.19% over the past 24 hours, with a daily high of $1.24726 and a low of $1.14092. Price remains near the lower end of the recent range after breaking below several key short-term support areas, reflecting persistent selling pressure as the session progresses.
From a short-term chart perspective, XRP’s price structure remains firmly bearish. After trading near the mid-$1.30 region in late May, the market established a series of lower highs and lower lows that accelerated into early June. Recent candles show repeated attempts to stabilize, but each rebound has struggled to gain traction before encountering renewed selling. Trading activity increased during the decline, while price continued to trend lower, underscoring the strength of the downward move.
The latest price action places XRP close to the session low and near the lower boundary of its recent trading range. Although brief intraday recoveries have emerged during the sell-off, they have not been sufficient to alter the broader bearish structure. The market remains focused on whether buyers can defend current levels and slow the pace of the decline after several consecutive waves of weakness.
XRP Liquidations Surge Amid Broader Crypto Weakness
Fresh derivatives data highlights the severity of the latest sell-off. According to Coinglass, XRP liquidations reached $25.64 million over the past 24 hours, with long positions accounting for $24.71 million, or 96.37% of total liquidations, compared with $929,583 in short liquidations. More than 5,800 traders were liquidated during a period in which XRP volatility exceeded 8.84%, reflecting a market heavily skewed toward bullish positioning before the decline. The largest single liquidation totaled $1.23 million, while the most intense liquidation activity occurred between 21:00 and 22:00.
The XRP liquidation wave unfolded against a broader market-wide deleveraging event that swept through digital assets. More than $1.12 billion in crypto positions were liquidated across the market, including about $949 million in long positions, as bitcoin slipped below $63,000 and tested the low-$62,000 region during a sharp sell-off. The broader risk-off move added pressure to XRP, where long liquidations were already heavily concentrated.
Despite the sharp correction in XRP’s price, several recent developments have reinforced the asset’s longer-term utility narrative. Ripple CEO Brad Garlinghouse marked XRP’s 14th anniversary by describing participation in the XRP ecosystem as “the honor of a lifetime,” while the “North Star” thesis around XRP has gained attention beyond Ripple. Ripple has also highlighted institutional XRP demand as CME launched 24/7 crypto futures, expanding access to digital asset markets.
Technical indicators continue to reflect negative momentum. The Relative Strength Index ( RSI) stands at 26.73, placing XRP in oversold territory and highlighting the intensity of the recent decline. The Moving Average Convergence Divergence ( MACD) remains bearish, with the MACD line at -0.01633, the signal line at -0.01092 and the histogram at -0.00541. From a Moving Average (MA) perspective, XRP is trading below both the 50-period simple moving average at 1.23089 and the 200-period simple moving average at 1.29842, reinforcing the prevailing downtrend. Bollinger Bands show the lower band near 1.16628, the middle band around 1.21476 and the upper band near 1.26323, with price trading beneath the lower band as downside pressure intensifies.
If XRP can continue stabilizing and build on its rebound from oversold conditions, the technical picture could begin to improve and support a broader recovery attempt toward key resistance levels. The recent bounce suggests buyers have started responding after an extended period of selling pressure, although momentum indicators remain weak and the broader trend has yet to turn constructive. A loss of recent gains would signal that sellers are still firmly in control, while sustained upside follow-through accompanied by improving momentum would be needed to shift the near-term outlook away from its current bearish bias.
