XRP’s latest sell-off has put the $1 level back at the center of market attention, with traders watching whether the token can hold psychological support while derivatives data shows a sharp flush in long positions. The move comes as XRP continues to trade inside a broader multi-month falling wedge structure, keeping both technical traders and leveraged participants on edge.
Round-number levels often matter in crypto because they become easy reference points for both retail traders and automated strategies. For XRP, the $1 area is especially important because it has served as a psychological dividing line between deeper bearish momentum and attempts at stabilization.
The validated pack shows XRP testing that level on June 26 as sell-side pressure accelerated. However, the writing boundaries are important: $1 should not be described as a guaranteed floor. The same validation notes point to longer-term monthly support lower, around $0.91, meaning a break of the psychological level could still leave the market searching for a more durable base.
The move was not just about spot selling. XRP long liquidations reportedly reached $40.73 million on June 25, marking the highest single-day liquidation volume since early February 2026. More than 97% of XRP long positions were wiped out in the 24-hour period leading into June 26, according to the validated derivatives data.
That matters because liquidation-heavy declines can move faster than ordinary spot corrections. When leveraged longs are forced out, exchanges automatically close losing positions, which can amplify downside moves and push price into key levels faster than discretionary traders expect.
Technically, XRP remains inside a multi-month falling wedge pattern. Traders often watch wedge structures for signs of compression and potential reversal, but the pattern does not guarantee a breakout. In the current setup, the validated pack notes that reclaiming the $1.10 to $1.12 region would be needed to shift short-term momentum more constructively.
Until that happens, the market remains vulnerable to failed bounces. XRP can stabilize near $1, but bulls need to prove that the move is more than a temporary pause after leverage was flushed out. A clean move back above the reclaim zone would likely be watched as a first sign that the sell-off is losing force.
The main danger for bulls is a decisive loss of $1 followed by weak demand on any retest. If that happens, traders may shift focus toward the lower monthly support area near $0.91. That does not mean XRP must trade there, but it gives the market a clear downside reference if psychological support fails.
For now, XRP is caught between two competing signals: a technical structure that some traders may view as a potential reversal setup, and liquidation data showing that leveraged bullish positioning has already been punished heavily. The next test is whether spot demand can replace the leverage that just left the market.
This report is based on information from Crypto.news XRP Wedge and BeInCrypto XRP Support.
This article was written by the News Desk and edited by Samuel Rae.
Report sourced from Crypto.news XRP Wedge at Crypto.news XRP Wedge
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