XRP slid 3.22% over the past 24 hours to trade at $1.09976 as of 12:44 p.m. EDT on June 23, caught in a broader market downturn that has amplified losses through long position liquidations. The token's decline comes despite Ripple securing a regulatory milestone in the European Union, a development that has so far failed to lift the price.
Bearish signals pile up
Technical indicators point to continued selling pressure. The drop accelerated after a cluster of long positions were liquidated, forcing automated selling that deepened the slide. Traders who had bet on a price increase were caught off guard as the token broke below key support levels.
Ripple's EU win not enough
Ripple's progress in the European Union — a milestone in its push for clearer regulatory standing — did little to counter the market's mood. The company has been working to expand its cross-border payment network under the bloc's frameworks, but the token's price remains tied to broader crypto market sentiment rather than company-specific developments in the near term.
The immediate question for holders is whether the liquidation wave has run its course. With the token trading below the psychological $1.10 mark, traders are watching for any sign of stabilization or a further leg down. No major XRP-related announcements are scheduled for the rest of the week, leaving price action at the mercy of broader market moves.
