Trader says XRP price setting ‘biggest bear trap’ after June monthly open
XRP fell to about $1.25 after a broad market sell-off, wiping out gains since early February. Technical analysts say the price is near key long-term support: the 50-month EMA and a multi-year ascending trend line. If XRP reclaims those levels, it could signal a strong “bear trap” and bottoming setup; if not, the chart points to possible weakness toward $0.90-$0.70, or even a retest of $1.11 and the $1 psychological level. Another analyst highlighted $1.26-$1.30 as a crucial support zone, with a break below it opening the door to deeper losses. Seasonality is also bearish: June has been negative for XRP in 8 of the last 12 years, with average returns around -5%, and losses tend to worsen in bear markets. A rebound may be more likely in July if historical patterns repeat.
