Key Takeaways
- XRP has plunged beneath $1.10, marking its lowest point since 2024 with an 18% weekly decline
- Technical analyst ChartNerdTA projects a potential 23% slide toward $0.84 support level
- David Schwartz, Ripple’s CTO emeritus, revealed an updated XRP Ledger strategy emphasizing real-world asset tokenization
- Technical analysts identify critical support at $0.95 with a cup-and-handle pattern suggesting possible rally to $3.65
- Despite spot XRP ETF approvals in late 2025 offering some market stability, selling pressure persists
XRP has crashed to its weakest levels since 2024, currently fluctuating between $1.05 and $1.09 following a nearly 4% decline over 24 hours and a steep 18% weekly plunge, based on CoinGecko market data.
This sharp downturn positions XRP approximately 70% beneath its record peak of roughly $3.65, achieved in July 2025. The selloff mirrors widespread cryptocurrency market weakness, with Bitcoin simultaneously dropping under $60,000.
Technical analyst ChartNerdTA identified a concerning breakdown on monthly timeframes, where XRP breached its upper regression channel at $1.35. Historical patterns suggest such movements typically trigger tests of the middle regression band, currently positioned near $0.84 — representing an additional 23% downside from present values.
“Throughout the past 4 months $XRP remained predominantly above its upper regression band. June brought a shift. Price has now broken below ($1.35), which historical data suggests targets the middle regression band for a probable bottom ($0.84),” ChartNerdTA explained.
What’s even more interesting is $XRP‘s 2-month regression bands; whenever price has tapped the upper band (green indicator line priced at $1.04) we have either bounced and then swept, or just totally dived toward the middle regression band to mark a cycle low (red zones). https://t.co/8VIhMN1WL3 pic.twitter.com/4yOptx5QSp
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ChartNerd
(@ChartNerdTA) June 6, 2026
Blockchain analytics reveal a substantial number of holders are currently holding losses, nearing levels observed during previous bear market capitulations. The 4-hour RSI indicator has plummeted to approximately 25, signaling deeply oversold conditions.
New XRPL Development Strategy Unveiled by Schwartz
Amid this price volatility, David Schwartz — Ripple’s CTO emeritus and a founding developer of the XRP Ledger — presented an updated strategic vision through his “XRP in a Minute” educational content.
Schwartz emphasized that corporate entities are currently leveraging the XRPL for asset tokenization, forecasting growth into tokenized equities, stocks, money market instruments, repurchase agreements, and lending products. He positioned the XRPL as a connector between Bitcoin’s native asset framework and a comprehensive ecosystem of issued digital assets.
“The XRP Ledger emerged shortly thereafter, delivering both a native digital currency, comparable to Bitcoin, alongside issued assets capable of representing items such as stablecoins or any variety of tokenized assets,” Schwartz explained.
Spot XRP exchange-traded funds, which received regulatory approval in late 2025, have contributed some foundational market support but have proven insufficient to halt the ongoing liquidation cascade.
Technical Pattern Analysis for Long-Term Outlook
Market analyst Celal Kucuker detected a cup-and-handle formation remaining intact on monthly charts, with crucial support zones spanning $1.10 to $1.20. A breakdown below this range could propel XRP toward testing the 0.236 Fibonacci retracement level at $0.95.
CryptoPatel observed that the $0.40–$0.95 range served as XRP’s consolidation base prior to its explosive 800% rally in late 2024. This territory is now considered a possible accumulation zone by market participants. Should support levels maintain, long-term recovery objectives are positioned at $3.65, $5, and $10.
XRP was last exchanging hands around $1.07 as of June 7, 2026.
The post XRP Plunges 70% From Peak as Analysts Eye $0.84 Target Amid Market Turmoil appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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