XRP Tests $1 Support As Long Liquidations Surge Inside Multi-Month Wedge
Summary
XRP’s sell-off has brought the $1 level into focus as a key psychological support, but it is not a guaranteed floor. The token is still trading inside a multi-month falling wedge, and traders are watching whether it can stabilize or if a deeper drop follows. Derivatives data shows heavy pressure from leverage: XRP long liquidations hit about $40.73 million on June 25, with more than 97% of long positions wiped out in the prior 24 hours. That liquidation cascade likely accelerated the decline. Bulls need XRP to reclaim roughly $1.10–$1.12 to improve short-term momentum. If $1 fails decisively, attention may shift toward lower monthly support near $0.91.
