An analysis says XRP is maintaining a long-term bullish structure by holding a key support zone around $1.10 despite a prolonged downturn.

On June 22 (local time), blockchain outlet The Crypto Basic said XRP was trading around $1.13, and the market is watching whether the $1.10 zone, a key resistance level in 2021, is functioning as support.

XRP set a new all-time high of $3.66 a year ago, but its current price is 69 percent below that peak. It posted monthly declines in 8 of the past 9 months. The exception was a 2 percent rise in April. In the short term, that means selling pressure has dominated the market for a long period.

The long-term structure on a monthly chart is interpreted differently. XRP has kept a pattern of gradually higher highs and higher lows since listing, and assessments say that structure has not yet broken even in this bear market. The current decline may be a process of retesting a key support zone, and if it holds, the possibility of a shift back to an uptrend remains.

Market participants are focusing in particular on the area around $1.10. From August to November 2021, that price band was a resistance level that XRP repeatedly failed to break on a closing basis. It later moved strongly above the zone with a volume-backed rise in November 2024, and it has now turned into key support. XRP recently fell as low as $1.05 before rebounding to the current level, confirming initial support in that area.

The next move depends on whether that support holds. If XRP stabilises there and broader market sentiment improves, the rebound could strengthen. If downward pressure continues, the next support zones cited on charts are $0.76, $0.52, $0.35 and $0.16.

Some analysts still leave room for a pullback below $1. Kasitraez said a meaningful recovery could come after a drop to $0.87 and viewed the area as an "ideal buy zone". A forecast by analyst Ali Martinez points to a similar level.

A different view argues that a strategy of waiting only for further declines could miss accumulation opportunities. That is because the current price is already far below the previous peak and has entered a support zone confirmed over many years.

On the upside, a recovery to $1.50 was presented as a key turning point. Analysts see XRP regaining that level as a possible signal of a "major bullish breakout". If the recovery continues, it could open the possibility of retesting the all-time high of $3.66.

Fund flows are also being watched. Over the past 7 days, XRP spot exchanges saw more outflows than inflows. Inflows were tallied at $590 million and outflows at $629 million. This is interpreted as a sign that investors are moving XRP off exchanges to long-term custody platforms. The fact that this pattern of net spot outflows is continuing across multiple periods remains a key point to watch, along with whether the current support zone holds.