XRP Slips Below $1.23 as Heavy Selling Erases Breakout Gains
XRP briefly broke above $1.25 before heavy selling drove it back below $1.23, highlighting persistent supply absorption challenges despite continued ETF inflows and rising South Korean exchange dominance.
XRP slipped back below $1.23 on Wednesday after a brief breakout above $1.25 was met with heavy selling, erasing the token's gains and underscoring the market's difficulty absorbing supply left over from the recent selloff.
The move above $1.25 lasted only a few hours before sellers emerged near the highs, driving XRP back through $1.23 on some of the session's heaviest volume. The rejection turned what had looked like a bullish breakout into a reminder that overhead supply remains significant. Despite the price weakness, XRP ETF products recorded a second straight week of inflows, attracting $10.68 million and lifting cumulative inflows to roughly $1.44 billion. Meanwhile, South Korea's Upbit exchange continued to account for an outsized share of XRP activity, with wallet-flow dominance climbing from 13% to 31% in the week through June 14. Ripple also continued expanding its payments infrastructure with recent initiatives.
For crypto traders, XRP's failed breakout highlights the fragile risk appetite in the altcoin market. The inability to hold above $1.25 suggests that sellers are still in control near that level, and the heavy volume on the rejection points to distribution. However, the persistent ETF inflows and rising Korean retail interest provide a counter-narrative of underlying demand. Traders can check NowPrice's crypto page for real-time XRP pricing and volume data to gauge whether the token can reclaim the $1.25 level or if further downside is likely.
Looking ahead, XRP's price action will depend on whether buyers can absorb the remaining supply overhang. Key support sits near $1.20, and a break below that could open the door to a retest of the $1.15 area. On the upside, a sustained move above $1.25 with declining volume would be needed to confirm a genuine breakout. Traders should also watch for any updates on Ripple's legal or partnership developments, as well as broader crypto market sentiment driven by Bitcoin's price direction.