XRP Battles $1: Longs Liquidated as Traders Eye Key Levels

XRP is once again in the spotlight as it flirts with the critical $1 support level. Recent market moves have pushed the token into a precarious position, with traders anxiously watching for signs of stabilization. On June 26, XRP tested this psychological barrier amid a broader market sell-off, underscoring its importance as a dividing line between bearish momentum and potential recovery.

Adding fuel to the fire, XRP long liquidations reached a staggering $40.73 million on June 25, the highest single-day figure since February 2026. This massive unwinding of long positions has left the market scrambling, with more than 97% of leveraged longs being wiped out. From a risk perspective, liquidation-driven declines tend to accelerate price movements as exchanges automatically close losing positions, pushing prices lower than many traders expect.

The key technical pattern to watch is the multi-month falling wedge that's kept traders on their toes. While some see this as a potential reversal setup, the numbers tell the story. For momentum to shift positively, a clear move above $1.10 to $1.12 is required. Failure to reclaim this zone may leave XRP vulnerable to further declines, with lower monthly support around $0.91 providing a downside buffer.

Here's what matters: XRP bulls need to hold the line at $1. The psychological level is essential for maintaining market confidence. If demand falters on any retest, the market might shift its focus to lower support levels. The reality is that spot demand must fill the void left by recently liquidated positions if XRP is to find a firmer footing. The next few days will be telling for both traders and investors alike.