XRP Price Faces Pressure Near Key Support
At 12:44 p.m. EDT on June 23, XRP is trading at $1.09976, down 3.22% over the past 24 hours as the crypto price remains near the session low of $1.09084. XRP has retreated from a 24-hour high of $1.14288, leaving the token under pressure around the $1.10 area as sellers continue to control short-term momentum.
From a short-term chart perspective, XRP remains in a corrective phase after losing ground from mid-June highs. Price is trading below the 50-period and 200-period moving averages and remains close to the lower Bollinger Band, reflecting persistent downside pressure. Volume has been more active during the decline, while recent candles show only limited rebound strength near support.
Broader macroeconomic conditions continue to weigh on digital assets despite resilience in traditional markets. Elevated interest rates, persistent inflation, and geopolitical uncertainty have tightened global liquidity. The Federal Reserve’s higher-for-longer stance and a stronger U.S. dollar have pushed capital toward yield-bearing assets. At the same time, energy volatility and trade concerns have reinforced inflation risks, limiting policy easing and adding pressure to crypto.
Coinglass data shows XRP saw $9.06 million in liquidations over the past 24 hours, with long positions accounting for $8.86 million, or 97.79% of the total. While notable, XRP’s liquidations remain relatively modest compared with broader market activity, where total crypto liquidations exceeded $650 million during the same period, led by major assets such as Bitcoin and Ethereum. More than 2,100 XRP traders were liquidated, highlighting pressure on leveraged bullish positions during the pullback.
The XRP price remains under pressure despite Ripple’s latest regulatory milestone. Ripple said it received preliminary approval for a Crypto Asset Service Provider license under the EU’s Markets in Crypto Assets (MiCA) framework, a move that would enable the company to expand regulated cryptoasset services across all 30 countries of the European Economic Area once final conditions are met.
Technical Indicators Signal Continued Weakness
Technical indicators continue to reflect a bearish bias. The Relative Strength Index ( RSI) is at 32.04, near oversold territory. The Moving Average Convergence Divergence ( MACD) remains negative, with the MACD line near -0.01298 and the signal line around -0.00990. XRP trades below the 50-period simple moving average near $1.16251 and the 200-period simple moving average near $1.21703, while Bollinger Bands show price near the lower band around $1.09984.
If XRP can hold the $1.09-$1.10 support area and reclaim resistance near $1.13239, the token could begin to stabilize. Failure to defend current levels would keep XRP vulnerable to additional downside pressure, especially with RSI weak, MACD negative and liquidation data showing heavy long-side stress.
