XRP tumbled to a multi-month low this week, briefly dipping below $1.20 as a sharp sell-off erased four months of base-building. The drop, which came just after the token's 14th birthday on June 2, triggered roughly $30 million in leveraged liquidations and knocked XRP's market cap from above $85 billion to below $75 billion. USDC has now overtaken XRP as the fifth-largest cryptocurrency by market cap on CoinGecko.
Birthday blues
On June 2, Ripple co-founder Arthur Britto released the code that minted 100 billion XRP tokens — then called XNS — exactly 14 years ago. The anniversary tweet that day noted the milestone, but the price action was anything but celebratory. XRP has lost about 10% in the past seven days and is now trading around $1.16.
Resistance holds firm
The current sell-off has roots in a pattern that played out over several weeks. XRP repeatedly failed to break the $1.50–$1.60 resistance band, with the most recent rejection at $1.55 in mid-May. Those failed attempts drained momentum. When the price finally cracked, it fell fast — the base-building period between $1.20 and $1.60 that lasted four months is now completely erased. The market structure is broken.
Support levels under fire
XRP is now testing the February low of $1.10 to $1.12, the last support level on the daily chart. A daily close below $1.10 would put XRP in uncharted territory with no meaningful support below, referencing the 2024 lows as the next reference point. On the upside, $1.30 is the first level needed to reclaim for any recovery, and $1.50 is the range midpoint required for a bullish narrative. The sell-off has been sharp and fast, which may lead to a relief bounce before further downside.
Bitcoin Hyper presale hits $32.8M
Separately, Bitcoin Hyper — which claims to be the first Bitcoin Layer 2 with full Solana Virtual Machine integration — continues its presale at $0.0136811. The project has raised $32.8 million so far. While unrelated to XRP's moves, the presale activity shows capital still flowing into new Layer 2 narratives even as major tokens correct.
