[DigitalToday reporter Yoonseo Lee (이윤서)] XRP may be building a short-term base in the $1.05 to $1.10 range after a steep decline this year.

According to blockchain outlet U.Today on June 11, XRP broke below about $1.30, which had served as support for months, and came under sharp selling pressure. It has since moved sideways above recent lows without another steep drop.

The market is focused on the fact that there has been no further sharp decline. The bearish trend continued after the support level broke, but selling failed to push XRP below the psychological support level of $1.00.

It is still too early to say the trend has changed. The 50-day moving average is around $1.24, and the 100-day and 200-day lines are at higher levels. As long as XRP stays below these lines, the overall trend remains negative. Short-term stabilisation and a medium-term trend reversal need to be viewed separately.

Technical indicators suggest the period of strongest selling pressure has passed. The relative strength index fell into oversold territory during the recent decline and is now showing signs of building a base as the downtrend slows. In the past, such moves have more often coincided with the formation of a temporary bottom than the start of a further sharp drop.

Trading volume shows a similar signal. Trading rose the most when the steep decline was under way, which is interpreted as reflecting concentrated panic liquidations and forced selling. After positions were cleared, volume fell and the price did not make a new low. It appears market participants are moving from absorbing urgent selling to seeking a new equilibrium range.

In the short term, a boxed range between $1.05 and $1.25 was presented as the most likely scenario. Markets typically do not switch immediately to a new uptrend right after panic selling. It takes time for buyers and sellers to find a balance again. If the price stays stable in this range, expectations for confirming a bottom could grow.

On the upside, about $1.30, a former support level, is seen as the first key resistance. If XRP buying recovers this level, it could signal buyers are regaining control. Above that, the 50-day and 100-day lines remain additional resistance. If the $1.00 level clearly breaks, the bottom-formation scenario would lose traction and XRP could be exposed to renewed selling pressure.

Ultimately, XRP appears to have moved out of the steep-decline phase and into a stage of testing a bottom. The market focus is less on whether the panic phase has ended than on whether buying is strong enough to turn this stabilisation into an actual rebound.