Technical signals are emerging that XRP could slide below $1 for the remainder of June.

Cointelegraph reported on the 11th that XRP's short-term chart has formed both a head-and-shoulders pattern and a bear flag. It also said the on-chain MVRV price band pointed to room for further declines.

The first level in focus is around $1.09. Since the 5th, XRP has been forming a head-and-shoulders pattern on the 4-hour chart, and it is currently shown as moving into the right-shoulder area. If the price clearly breaks below the neckline near $1.09, the lower target for June is put at around $0.99. That is about 10 percent below the current price.

Conversely, if it breaks above around $1.12, the pattern could be invalidated. That level is the right-shoulder high and overlaps with the 20-day exponential moving average (EMA). In that case, XRP could have room to rebound to the 50-day EMA near $1.15.

Another bearish signal is the bear flag. The 4-hour chart shows a typical bear-flag setup, with price consolidating inside an upward channel after a sharp drop. The price is currently shown as testing the lower trendline near $1.10. If a 4-hour close is confirmed below that level, it could be read as a signal of a renewed decline, with a technical target of around $0.94.

Momentum indicators also tilt bearish. The relative strength index (RSI) is around 43, below the neutral line of 50. If the price moves back above $1.12, the bearish signal could ease in part. If it then strongly breaks above $1.15, the downtrend could be delayed and there could also be a chance of a rebound to the upper trendline near $1.18 to $1.20.

On-chain indicators show the MVRV price band leaving room to move lower. MVRV compares XRP's market price with the average price when coins last moved on-chain. It is used to gauge whether holders are in profit or loss. XRP is currently presented as being positioned to fall further toward the lower green band.

This lower green band has repeatedly acted as support in past bear markets. XRP fell to this level, or below it, during major downswings in 2018, 2020 and 2022 before finding stronger support. If the same pattern repeats, the next major lower target is around $0.96.

In the short term, the support zone at $1.09 to $1.10 and resistance at $1.12 are expected to be the key pivot points. If $1.09 and $1.10 give way, a downside scenario could open to $0.99 and further to $0.96 and $0.94. If it regains $1.12 and rises to $1.15, the credibility of the two technical bearish patterns currently presented could diminish.