XRP Slips 4% Below $1.20 as Rally Stalls at Resistance
1h ago|4 min readStandard
Fazen Markets Editorial Desk
Collective editorial team · methodology
xrpripplecryptocurrency
Fazen Markets Editorial Desk
Collective editorial team · methodology
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Heavy selling pushed XRP down more than 4% on 18 June 2026, closing below the psychologically significant $1.20 level. Data tracked by Fazen Markets shows XRP was trading at $1.17 as of 05:59 UTC today, representing a 24-hour drop of 4.21%. This retreat followed a failed breakout attempt that stalled near key technical resistance. The asset's 24-hour trading volume remained elevated at $2.00 billion, highlighting the intense activity around this price zone. The move was first reported in a summary published by CoinDesk noting buyers stepped in above $1.17 to prevent a deeper decline.
The $1.20 level has served as a pivotal battleground for XRP price action throughout 2026. The last major rejection from this zone occurred in late April, when a rally from $1.05 was halted near $1.22, triggering a subsequent pullback to $1.10. The current macro backdrop for cryptocurrencies remains cautious, with major central banks maintaining elevated benchmark rates. The aggressive selling pressure that emerged this week signals a shift in short-term trader sentiment from breakout optimism to profit-taking.
The immediate catalyst for the pullback appears to be a failure to sustain momentum after a brief push above $1.20 earlier in the week. This price level coincides with a descending trendline connecting prior highs from Q1 2026. The rejection activated stop-loss orders from traders anticipating a continued rally and emboldened short-sellers targeting a retest of the recent range lows. The high volume accompanying the move confirms institutional-grade interest in the outcome of this technical test.
XRP's price decline to $1.17 reflects a significant retracement from its weekly high near $1.21. Its market capitalization now stands at $72.36 billion. The asset's 24-hour performance of -4.21% notably underperformed the broader digital asset market, where many major tokens saw smaller declines. For comparison, NEAR Protocol experienced a sharper 24-hour drop of 6.81% to $2.16, highlighting a risk-off sentiment across altcoins. NEAR's market cap is $2.81 billion with 24-hour volume of $434.81 million.
The table below contrasts XRP's key metrics with its peer NEAR.
| Metric | XRP | NEAR |
|---|---|---|
| Price | $1.17 | $2.16 |
| 24h Change | -4.21% | -6.81% |
| 24h Volume | $2.00B | $434.81M |
| Market Cap | $72.36B | $2.81B |
The retreat erased nearly half of the gains accrued during the preceding three-day rally. The volume-to-market-cap ratio for XRP suggests higher relative turnover than for many other top-ten assets, pointing to elevated speculative interest.
The sell-off likely exerts downward pressure on correlated payment and settlement-focused tokens. Direct competitors in the cross-border payments space, such as Stellar Lumens (XLM), may experience similar de-risking flows from portfolio managers rebalancing sector exposure. Conversely, the capital leaving XRP may rotate into perceived safer segments of the crypto market, potentially providing a mild tailwind for large-cap assets like Bitcoin and Ethereum.
A counter-argument is that the swift defense of the $1.17 level indicates strong underlying demand, potentially limiting further downside. The primary risk is that a sustained break below this buyer support could trigger a cascade of liquidations, sending XRP back toward its June low near $1.10. Flow data indicates hedge funds and proprietary trading desks were net sellers during the rejection, while some long-only funds used the dip to add to core positions. Retail crowd sentiment tracked on social platforms has turned markedly more negative.
The immediate focus is on whether XRP can defend the $1.15-$1.17 support confluence, which includes its 50-day moving average. A failure here would shift attention to the $1.10 level. Key catalysts include the pending decision in the SEC's ongoing appeal in the Ripple case, with briefs due in the coming weeks. The next Federal Open Market Committee meeting on 24 June will also influence broader risk appetite.
Traders will monitor on-chain exchange flow metrics for signs of accumulation or distribution by large holders. Any decisive daily close above the $1.23 resistance would invalidate the current bearish structure and likely trigger a short squeeze. Monitoring the funding rates in XRP perpetual futures contracts will provide insight into whether the market is leaning overly bearish, setting up a potential mean-reversion rally.
The $1.20 level has acted as a major resistance and support zone for XRP for over five years. It was the price target of the initial surge following the July 2023 court ruling that XRP was not a security in its programmatic sales. Throughout 2024 and 2025, repeated attempts to establish a foothold above $1.20 failed, with the most significant rejection occurring in March 2025, leading to a 30% correction. The level's psychological weight stems from its proximity to XRP's all-time high from January 2018.
XRP's current market capitalization of $72.36 billion places it in a similar valuation bracket to major global financial firms. For context, this is larger than the market cap of Deutsche Bank (approximately $65 billion) but smaller than that of Goldman Sachs (approximately $130 billion). This comparison is frequently cited by analysts to gauge the scale of capital deployed in the digital asset ecosystem relative to legacy finance. It also highlights the significant liquidity available for trading and settlement use cases.
Beyond technical analysis, XRP's price is primarily driven by developments in Ripple's ongoing litigation with the U.S. Securities and Exchange Commission, adoption metrics for its On-Demand Liquidity product by financial institutions, and broader regulatory clarity for crypto assets globally. Macroeconomic factors, such as interest rate expectations and U.S. dollar strength, also play a significant role. Institutional investment flows into dedicated crypto funds and exchange-traded products that hold XRP provide another key demand source.
XRP's failure to hold above $1.20 confirms strong technical resistance and shifts near-term momentum back to the sellers.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. CFD trading carries high risk of capital loss.
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