XRP slides to $1.03 as altcoin selloff intensifies across crypto market

XRP is testing the $1 psychological support level after losing a multi-month support area earlier this month, with sustained selling pressure leaving bulls few opportunities to reverse the downtrend.

XRP fell 4.9% to $1.03 as of 14:30 UTC on June 26, approaching the $1 psychological support level as a broad altcoin selloff deepened across the crypto market. The token's weekly decline stands at 8.5%, the steepest among large-cap cryptocurrencies after ether, according to CoinGecko data.

"XRP has lost its multi-month support zone, and the $1 level is now the last line of defense for bulls," Gabe Selby, head of research at CF Benchmarks, said. "A break below could trigger cascading liquidations across leveraged positions."

Trading volume surged 14.87% to $2.65 billion in the past 24 hours, CoinGecko data shows, as sellers accelerated distribution. XRP's market capitalization fell 3.93% to $64.71 billion. The broader crypto market cap dropped to $2.06 trillion, its lowest since May, with the Fear & Greed Index sliding to 15 — "extreme fear" territory, according to CoinMarketCap. Bitcoin held near $59,700 after bouncing from a 21-month low of $58,100, while ether slipped further to $1,550, extending its losing streak to three consecutive days.

A break below $1 would mark XRP's first sub-dollar weekly close since November 2024, potentially triggering stop-loss cascades across leveraged positions. The $0.95 to $1.00 zone represents the next major demand area, according to CF Benchmarks, while a hold at $1 could provide a base for a relief rally toward $1.15. The outcome will influence short-term sentiment across the broader altcoin market, where tokens such as Solana and Aave have shown relative resilience.

$1B in Liquidations Adds Pressure

Over $1 billion in leveraged futures positions were wiped out across the crypto market in the past 24 hours, with long positions accounting for the majority, Coinglass data shows. Ether saw more liquidations than bitcoin in the past 12 hours, reflecting the heavier toll on altcoins. Bitcoin futures open interest rose to 778,000 BTC, a sharp increase from recent lows near 730,000 BTC, suggesting traders added shorts into the dip.

Altcoin Market Under Broad Pressure

AI-related tokens continued to unwind, with RENDER, NEAR, FET and TAO losing between 1% and 1.5% on June 26. Ethena dropped 5%, extending its monthly decline to 34% after negative funding rates undercut its yield-generation model. Hyperliquid fell 2.6%, losing 18.5% since touching a record high 12 days ago. Aave and Solana were among the few standouts, with Solana adding 2% to trade near $68.95.

This article is for informational purposes only and does not constitute investment advice.