[Digital Today reporter Jinju Hong (홍진주)] XRP has been pushed back into its 2026 low range, raising talk of both further declines and the chance of a short-term bottom forming.

On June 24 (local time), blockchain outlet U.Today reported that XRP is trading in the $1.05 to $1.10 range after breaking below the $1.28 area, which had been a key support level.

Based on the current move alone, the technical structure remains weak. The $1.28 support level had underpinned most price action in spring, but its breakdown also damaged the months-long range-bound pattern. Selling pressure then intensified and XRP fell back to the lows where strong buying emerged earlier this year.

Rebound attempts are also failing to produce clear results. That is because the 50-day moving average keeps blocking recovery efforts around $1.18. The outlet described the move by saying, "Sellers still control the overall trend." XRP staying below key moving averages also supports the bearish move.

Still, it is hard to fully rule out hopes of confirming a bottom. The current price range overlaps with levels that drew a strong market response earlier this year. U.Today said, "Markets tend to retest important support levels before forming a long-term bottom." That suggests downside momentum could be nearing exhaustion, but it does not mean a reversal is confirmed.

On-chain indicators remain mixed. Over the past month, both the number and volume of XRP payments have fallen noticeably. Transaction counts stayed on a downward trend, and payment volume, which once exceeded 1 billion XRP during more active periods, has also dropped sharply. That signals slower network activity and weaker speculative demand.

Judging by these indicators alone, market sentiment could be interpreted conservatively. But there are also many cases where bottoms form when activity and sentiment are weakest. It was also suggested that prices sometimes move first before on-chain indicators improve.

Momentum indicators show some signs of stabilization as well. The relative strength index (RSI) is hovering near oversold territory but is not making additional lows. The outlet said this move is a divergence often seen in the late stages of a selloff. It is read as a sign that while prices are weak, the downward pressure itself could be easing.

In the short term, the conditions the market needs to confirm are relatively clear. First, XRP must defend the $1.05 to $1.10 support zone. At the same time, it must reclaim around $1.18, where the 50-day moving average sits. If both conditions are met, the next resistance zone of $1.28 to $1.34 could come back into play.

Still, re-entering the lows alone makes it hard to conclude a trend reversal right away. XRP has yet to break out of its bearish trend, and a recovery in market confidence has not been confirmed. Ultimately, whether this area acts as a real bottom depends on whether buying can absorb supply and rebuild a rebound.