XRP Holds $1.03 Key Support as XRPL 3.2.0 Upgrade Nears
LTB XRP is trading near $1.16, but one analyst says a move toward $1.03 would still fit a broader long-term uptrend rather than signal a full bearish breakdown.
- $1.03 sits near monthly Ichimoku cloud support
- $1.34 remains the key daily level to reclaim
- Momentum is still weak, with MACD bearish
- XRPL 3.2.0 is coming, with a rename from rippled to xrpld
XRP was hovering around $1.16 on June 4, down more than 3% on the day as crypto markets stayed under pressure. The backdrop is familiar: leveraged long liquidations, macro uncertainty, and a risk-off mood that has traders asking whether this is just a nasty pullback or the start of something uglier.
According to crypto analyst The Great Mattsby, a revisit of $1.03 would not automatically invalidate XRP’s larger structure. He framed that level as a likely monthly Ichimoku cloud support area, which could mean the token is simply retesting a major support zone rather than rolling over into a deeper collapse.
“At this point it would make sense for $XRP to backtest the monthly cloud around 1.03.”
For readers who do not live and breathe chart indicators, the Ichimoku cloud is a technical analysis tool used to spot trend direction, support, and resistance. A “backtest” is basically a retest of a level after price has moved away from it. In plain English: sometimes markets dip back to a support zone to check whether buyers are actually there, or just pretending to be busy.
That is the core point here. XRP can look ugly on the short-term chart and still remain structurally intact on the higher timeframe. A pullback to support is not always a disaster. Sometimes it is just the market taking a hard look in the mirror and deciding whether the previous move deserves to continue.
The daily chart is still flashing caution. XRP remains below $1.34, which is acting as Supertrend resistance. The Supertrend is a trend-following indicator that helps traders spot whether momentum is leaning bullish or bearish. A reclaim of $1.34 would improve the technical picture and could open a move toward the $1.45 to $1.50 range. Until that happens, sellers keep the edge and bulls are left trying to prove they are more than just a loud narrative.
The momentum picture is not helping much either. The daily MACD remains below the zero line, while the signal line is still above the MACD line — a bearish setup. MACD, or moving average convergence divergence, is a momentum indicator used to gauge whether buying or selling pressure is stronger. Negative histogram bars, which are also expanding, suggest selling pressure is still building rather than fading.
Put simply: the short-term trend is weak, and the chart is not begging anyone to chase. That does not mean XRP is broken, but it does mean buyers need to show up with actual conviction instead of recycled hopium and a few optimistic screenshots.
“traders familiar with market structure and Ichimoku analysis should not view the setup as bearish from a macro perspective”
“A decisive break below the $1.03 support area would weaken the consolidation thesis”
That distinction matters. A move to $1.03 could still fit a broader consolidation phase inside a long-term uptrend. But if that level fails decisively, the tone changes fast. Then the market starts treating the move less like a healthy retest and more like a structural crack.
There is also a psychological layer here. $1.03 is close enough to the round-number $1.00 level that any breakdown could invite another round of forced selling, fear, and lazy “XRP is dead” takes from people who discover technical analysis only when their bags are red. Markets love punishing certainty, and altcoins especially love punishing overconfidence.
Beyond the price chart, the XRP Ledger is preparing for a 3.2.0 upgrade. The update includes a shift from “rippled” to “xrpld”, and that means node operators, validators, and infrastructure providers will need to update their systems. It is not glamorous work, but it is the sort of unsexy plumbing that keeps a network running without becoming a headline for all the wrong reasons.
The network already saw a successful activation of version 3.1.3 in May, which included fixCleanup3_1_3 and improved reliability. That kind of backend maintenance rarely gets retail traders excited, but reliability is the whole game for any serious blockchain. The market loves a shiny narrative until the software breaks, and then suddenly boring engineering looks like genius.
The rename from rippled to xrpld may seem cosmetic to outsiders, but it also reflects an ongoing effort to tidy up operations and align the software stack more clearly with the XRP Ledger ecosystem. That matters for the long term, especially if XRP wants to keep attracting developers, validators, and infrastructure providers instead of just depending on speculative interest alone.
Ripple’s ecosystem has also drawn more institutional attention, helped by RLUSD and infrastructure partnerships. RLUSD is Ripple-related stablecoin and infrastructure activity that adds another layer to the ecosystem’s usefulness. It does not magically force the price higher, because markets are still rude and irrational most of the time, but it does give XRP more than a single speculative narrative to lean on.
That said, fundamentals do not exist in a vacuum. XRP is still being dragged around by the broader market, and crypto in general is dealing with a stack of headwinds: elevated oil prices, global growth concerns, Federal Reserve rate-cut uncertainty, geopolitical tensions, and the possibility of higher-for-longer interest rates. Bitcoin briefly slipped below $62,000, and when BTC gets hit, altcoins usually absorb the pain with extra interest.
Leveraged long liquidations have also amplified the damage. That matters because leveraged positions are basically borrowed bets, and when price moves the wrong way, exchanges force those positions closed. The result is a cascade of selling that can make a normal pullback look like a small apocalypse. Crypto never met a liquidations wick it didn’t want to overreact to.
For XRP traders, the immediate map is pretty clear. $1.34 is the level that would improve the daily picture. $1.03 is the support area that could keep the larger structure alive. And below that, the market would likely start questioning whether the consolidation thesis still holds at all.
The bigger takeaway is that XRP is not in a clean bullish setup right now, but neither is it automatically dead just because the daily chart looks rough. If $1.03 holds, the long-term uptrend argument can still stand. If it breaks, the market will have a lot less patience for optimism.
- What is XRP testing right now?
XRP is testing whether it can hold a broader long-term support structure despite short-term weakness. - Why is $1.03 important?
It lines up with monthly Ichimoku cloud support and could act as a normal retest rather than a breakdown. - What would improve XRP’s technical outlook?
A reclaim of $1.34, which is currently acting as daily Supertrend resistance. - Is the short-term trend bullish?
No. The daily MACD and other momentum signals still favor sellers. - Does the decline mean the long-term thesis is broken?
Not yet. According to the analyst cited, a move to $1.03 can still fit a consolidation phase. - What is happening with XRP Ledger?
XRPL is preparing version 3.2.0, including a software rename from rippled to xrpld. - Why does the upgrade matter?
It shows continued development, reliability work, and coordination across validators and infrastructure providers. - What broader forces are pressuring XRP?
Weak crypto sentiment, BTC softness, leveraged liquidations, oil prices, growth worries, and Fed uncertainty.
