XRP fell another 5% on the day and traded at $1.00 at press time as the wider crypto market sold off. Bitcoin also dropped below $60,000, triggering more than $600 million in liquidations within one hour. XRP longs accounted for over $40 million of that total, adding further pressure to already fragile prices.
XRP Faces Heavy Selling
As Bitcoin weakened, XRP moved lower with the rest of the sector. The wave of liquidations swept through the market, wiping out over $600 million in positions in just one hour. At the same time, financial analyst Celal Kucuker offered a much different view. With more than 20 years of market experience, Kucuker said XRP may still follow a larger technical path, suggesting this drop could be the setup for a much bigger move later.
Kucuker’s Long-Term XRP Map
Kucuker said he still sees one of the best scenarios for XRP on his chart. He placed the bottom near $0.86 to $0.87 and pointed to an upside target between $8 and $9. His chart uses XRP’s monthly timeframe, showing a repeating pattern of advances and corrections inside an ascending channel. Previous rallies reached the top of that structure before price cooled again.
The chart also connects with a Bitcoin scenario near $54,000. Kucuker said XRP could bottom in the same area if Bitcoin follows that path. In a June 6, 2026 post, he called this the most realistic scenario for XRP.
Key Levels and Timeline
The weekly chart Kucuker shared tracks XRP from 2018 through 2031. It shows the current price near $1.041 and marks key Fibonacci levels and a long-term trend channel. The 0.618 Fibonacci level sits near $0.878, matching Kucuker’s $0.86 to $0.87 bottom zone. The chart also places the 1.618 extension near $9.042, lining up with his $8 to $9 target.
The chart projects a rally from the support zone toward the upper target between December 2026 and February 2027. It also shows XRP moving within a rising channel that has held since 2018. Earlier tests of the lower boundary have often led to strong rebounds.
Ripple Gains EU Regulatory Momentum
While the XRP price weakened, Ripple received a regulatory update in Europe. Ripple Markets APAC Pte. Ltd. won preliminary approval under the EU’s MiCA framework from Luxembourg’s CSSF. The approval allows Ripple to offer regulated digital asset services across the European Union, including payments and stablecoins. The move gives Ripple a clearer path in one of the world’s largest financial regions.
The approval may support long-term XRP utility and opens the door for banks, payment firms, and enterprises to use Ripple-related services with regulatory clarity. That backdrop arrives even as the token trades under pressure in the short term.
What’s Next?
XRP fell to $1 as Bitcoin slipped below $60,000 and liquidations swept through the crypto market. Despite the sharp decline, analyst Celal Kucuker maintained his long-term outlook, pointing to a potential bottom near $0.87, while Ripple’s MiCA approval added a notable regulatory development. Investors will now watch whether key support levels hold.
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