XRP Can't Catch a $1.20 Break: Triangle Squeeze Has Bulls and Bears Playing Limbo 🎢

XRP closed Wednesday at approximately $1.15, down 3.4% over 24 hours, after sellers pushed the token through the closely watched $1.15 support level on heavy volume and rebuffed another attempt to clear a descending trendline that has capped rallies near $1.25 for months. The decline extended a pullback that began June 17, when XRP fell 2.5% from $1.2170 to $1.1869 and lost the $1.20 mark on a volume spike of 128.7 million XRP, more than double normal levels, during the 19:00 UTC session. A second wave of selling arrived around 15:00 UTC on June 18, when volume hit 134.2 million XRP, roughly 170% above average, driving the token to a session low near $1.13 before buyers lifted it back toward $1.15.

Traders are now treating $1.15 as the first hurdle bulls need to reclaim, with immediate support clustered between $1.13 and $1.14 and a larger floor near $1.10. Resistance remains stacked from $1.17 to $1.25, the upper bound of a year-long symmetrical triangle that has compressed price action between support near $1.10 and resistance around $1.25. XRP has been consolidating around the $1.15 level for nearly two weeks, with longer-term charts still showing the token trading beneath major moving averages despite the rebound from early June lows.

On-chain data from the past 60 days shows addresses holding 100 to 1 million XRP have been steadily distributing their holdings, a wave of selling that has coincided with a nearly 15% correction in XRP over the same period. Total value locked on the XRP Ledger, according to DefiLlama, sits at around $39 million, down roughly 67% from a peak of nearly $120 million in July 2025. Stablecoin supply on XRPL, by contrast, recently hit a new all-time high of $785 million, rising more than 2% over the past week with roughly $17 million in net inflows, and the network has attracted $1.9 billion in net real-world asset inflows over the past 90 days, the largest figure among major blockchains tracked. Ripple ETFs have recorded roughly $150 million in net inflows over the past 60 days, according to SoSoValue.

The combination of rising on-chain liquidity, steady RWA inflows, and persistent ETF demand has coincided with XRP holding the $1.15 area through broad distribution, conditions the market continues to monitor for signs that the symmetrical triangle is nearing a resolution.