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XRP (XRP) is approaching a critical technical and fundamental inflection point as traders closely watch the $1.22 resistance level while the XRP Ledger (XRPL) prepares for its highly anticipated 3.2.0 upgrade.
Despite a challenging week across the cryptocurrency market, XRP has demonstrated notable resilience, outperforming major assets including Bitcoin (BTC), Ether (ETH), and Solana (SOL) during the latest selloff.
XRP declined by 9% over the past week, a significantly smaller drop than BTC’s 11% loss, ETH’s 16% decline, and SOL’s 17% correction.
The relative strength comes amid a broader risk-off environment that has seen substantial capital outflows from spot Bitcoin (BTC) and Ether (ETH) exchange-traded funds and reduced investor appetite for higher-risk digital assets.
While XRP has not escaped market pressure entirely, its ability to hold up better than its large-cap peers has attracted attention from traders looking for signs of strength in an otherwise weak market.
Several indicators suggest that larger investors may be accumulating positions during the downturn.
TradingView data showing XRP’s Smart Money Index steadily rising from early February through June, even as the token’s price trended lower. Such divergence often signals accumulation by sophisticated market participants.
Everyone is scared about $XRP price consolidating.
Institutions? No major outflow days since ETF launch.
IN A BEAR MARKET.Bloomberg Intelligence is watching.
Retail is scared. Smart money keeps flowing.
They know what’s coming for XRP.IYKYKpic.twitter.com/jCbeAzj0XR https://t.co/yrlz5mpivF
— X Finance Bull (@Xfinancebull) June 9, 2026
Onchain metrics further support this narrative. Glassnode data revealed that XRP’s net exchange position change shifted dramatically from negative 8 million XRP on June 3 to negative 92 million XRP by June 8.
The movement indicates a significant amount of XRP leaving exchanges, a pattern commonly associated with long-term holding rather than immediate selling pressure.
These accumulation signals place added importance on the $1.22 price level.
Data from CoinGlass shows that a move above this resistance could trigger a meaningful short squeeze, with approximately $134 million in leveraged short positions vulnerable to liquidation compared to around $80 million in long exposure on Bybit.
If bulls successfully reclaim $1.22, forced short covering could accelerate upside momentum and potentially open the door to higher resistance zones.
However, if buying demand weakens near this level, XRP could revisit the $1.04 support area that previously acted as a floor following the sharp decline from $1.34 in late May.
Technical analysts remain divided on the broader outlook. Market watcher Egrag Crypto describes the current setup as a “macro decision zone” for XRP.
A monthly close above $1.40 would strengthen the case that the recent low near $1.05 marked the cycle bottom.
#XRP – Macro Confluence Is Building 🎯:
This chart is not about one single tool. It is about confluence.
We have multiple TA frameworks pointing toward the same macro decision zone:
▫️Fib Circles = timing + price rhythm
▫️Fib Channels = expansion path
▫️Fib Extensions = target… pic.twitter.com/DhfwuMzgHZ— EGRAG CRYPTO (@egragcrypto) June 10, 2026
More importantly, the $1.61-$1.65 range is viewed as the beginning of a more convincing bullish recovery, while a move above $1.70 would provide additional confirmation of trend reversal.
On the downside, failure to maintain momentum could expose XRP to a retest of $1.04, with some analysts warning that a deeper correction toward $0.80 remains possible if market structure breaks down.
Beyond price action, the upcoming XRPL 3.2.0 upgrade is attracting significant attention across the ecosystem.
Targeted for release around June 15, the update will officially rename the network’s core server software from “rippled” to “XRPLD,” reinforcing the XRP Ledger’s independent, community-driven identity.
Custom routing, real savings on the illiquid pairs that usually punish you the most.
One more step toward an XRPL that's more liquid and tradable for everyone.
Coming soon. https://t.co/JOB9qv3iFW
— XRPL Labs 🪝 (@XRPLLabs) June 9, 2026
The upgrade is also expected to reduce memory usage across network nodes by 30%-40%, improving efficiency and lowering infrastructure costs. While everyday XRP holders will not need to take any action, validators and node operators must upgrade before activation to remain part of network consensus.
As technical resistance and network development converge, the coming weeks could prove pivotal for XRP. A successful break above $1.22, combined with growing confidence surrounding the XRPL 3.2 upgrade, may determine whether the asset begins a broader recovery toward higher resistance levels or faces another test of key support zones.
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