XRP Falls 4.8% as Bitcoin Drops Below $60,000, Sparking Broad Crypto Sell-Off

XRP fell 4.81% in the past 24 hours to $1.11 as of 14:00 UTC on June 10, 2026, reflecting a broader sell-off across the cryptocurrency market. The decline came as Bitcoin struggled to hold key support near $60,000, adding pressure across major digital assets including Ethereum, Solana and Cardano. XRP’s drop also coincided with rising concerns that stronger U.S. economic data could prompt the Federal Reserve to keep policy tighter for longer, reducing appetite for risk assets.

The token is now trading well below its main technical benchmarks, including its 20-day simple moving average at $1.26, 50-day average at $1.35 and 200-day average at $1.60. Its 14-day relative strength index has fallen to 29.22, a level generally considered oversold. Trading volume is 1.74 times its 30-day average, showing that the move is being driven by active selling rather than thin liquidity. XRP is also still far below its all-time high of $3.65, leaving it about 69.6% off its peak.

Several factors are contributing to the weakness. Bitcoin’s break below $60,000 between June 5 and June 7 triggered broader crypto market pressure. At the same time, U.S.-listed spot Bitcoin ETFs have seen heavy outflows, with more than $4.2 billion redeemed over the past four weeks through June 9. Ripple’s monthly release of 1 billion XRP from escrow on June 1 added another supply-related headwind, especially in an already fragile market. Analysts have described the environment as a “silent bear market,” with some saying the break below long-term averages confirms a deeper bearish phase.

Despite the sell-off, XRP’s network activity remains strong. The XRP Ledger recorded around 16,810 daily active users and an average of 1.78 million transactions per day between March and June 2026. Data showing more than 25 million XRP moving off exchanges on June 3 has also been interpreted by some traders as accumulation rather than panic selling. Whale wallets holding at least 10,000 XRP reached a record 332,230, suggesting that large holders may still be positioning for a longer-term recovery.

Regulatory developments could also support the token. The CLARITY Act, which aims to classify XRP as a digital commodity under CFTC oversight, passed the U.S. Senate Banking Committee on May 14, 2026, and now awaits a full Senate vote. Ripple’s legal battle with the SEC was resolved in 2025, reducing one of the biggest long-term uncertainties around the asset. In addition, spot XRP ETFs have reportedly attracted about $1.40 billion in cumulative inflows since launching in November 2025, indicating continued institutional interest.

Technically, XRP’s key near-term support is at $1.10, while resistance sits near $1.14. A drop below support could open the door to further losses, while a move back above resistance and then above the 20-day average would be an early sign of stabilization.