XRP slid to $1.15712 by 10:09 p.m. on June 3, as heavy long liquidations and a relentless wave of selling pushed the token toward a key support level near $1.14. The price action has carved out a series of lower highs, reinforcing a bearish market structure that traders are watching closely. With each attempt to rally failing to hold, the cryptocurrency now faces an increasingly urgent test.
Liquidations Accelerate the Slide
The recent drop was fueled in part by a cascade of long positions being closed out. Investors who had bet on a rebound were forced to sell as the price kept slipping, adding to the downward pressure. That cycle of liquidation and further selling has made it difficult for XRP to find a stable footing above the $1.15 mark. The selling pressure hasn't let up, and the market's response to any uptick has been quick and aggressive.
Lower Highs Confirm Bearish Pattern
Chart watchers point to the string of lower highs as the clearest signal that the bears are in control. Each bounce has topped out at a lower level than the one before, a textbook pattern that suggests sellers are stepping in earlier and earlier. For a reversal to gain traction, XRP would need to break that sequence with a higher high — something that hasn't happened yet. Until then, the trend remains firmly to the downside.
Support Level Under Siege
The $1.14 zone has become the line in the sand. It's a level that previously acted as resistance and now, if it fails, could open the door to further losses. Traders are watching to see if buyers will step in and defend that price, or if the selling pressure is strong enough to push through. The next few hours will be critical. If $1.14 gives way, there's little standing in the way of another leg lower. But a hold could set the stage for a recovery attempt — though the market's bearish structure suggests that any bounce might be short-lived.
