XRP has slipped below $1.15, a level seen as a key support, deepening near-term weakness.

On June 20, blockchain outlet The Crypto Basic reported that XRP recently fell as far as $1.12 and is now trading around $1.13.

The latest drop is raising caution in the market, not only because support has broken but because rebounds have repeatedly failed. XRP plunged to $1.09 on June 11, then rebounded to around $1.28 on June 15 but met resistance. It later tried to recover to around $1.25 and $1.22, but selling pressure returned each time.

Chart action shows rebound highs continue to fall. To maintain a short-term upward structure, XRP would need to reclaim $1.15 and hold above it, but strong buying has yet to be confirmed. The market sees rallies quickly fading before turning into a meaningful recovery.

On-chain indicators are also weighing on the token. Santiment data show large investors sold more than 30 million XRP over the past five days. Their holdings fell to 3.78 billion XRP from 3.82 billion. Aggressive selling by large holders is seen as a negative signal for near-term supply and demand.

Network activity has also slowed noticeably. Over the past two weeks, the number of active addresses fell about 50 percent, from around 50,000 to just above 25,000. With both price action and on-chain indicators weakening, concern is growing that a key support zone between $1.30 and $1.10 is breaking down.

Short-term returns are also negative. XRP slipped 1 percent over the past 24 hours and is down about 16 percent over the past 30 days. It is down 38 percent so far this year. That suggests even if a short-term rebound appears, it may not be enough to change the medium-term trend.

The next price levels drawing attention are also moving lower. Analyst Ali Martinez (알리 마르티네즈) pointed to $0.90 as a key level to watch, while ChartNerd is watching the possibility of an additional drop to $0.70. Both see levels below $1 as a potential long-term buying opportunity ahead of the next bull market.

The next points to watch are clear. Near-term direction will hinge on whether XRP can quickly regain $1.15 and turn it back into support, and whether whale selling and the decline in network activity stop. If it fails to recover this zone, market attention could shift more quickly to $1 and lower support levels.

More than 30 million $XRP have been distributed by whales in the last five days. pic.twitter.com/O8bEiR7Fwf