$XRP Price Action Hits Multi-Month Lows Amid Liquidation-Driven Selloff

The recent selloff in the crypto market has pushed $XRP to its lowest levels in months. The token's value dropped from $1.17 to $1.11 within a 24-hour period, with the biggest move occurring during the June 5 06:00 UTC session. During this time, volume surged to 268.2 million $XRP, accelerating the breakdown.

The failed rally towards $1.133 was reversed sharply, sending price to fresh lows before buyers stepped in near $1.10. The move below $1.10 briefly pushed $XRP into one of the most oversold conditions seen in years, with weekly RSI readings reaching levels that historically appeared near major cycle lows.

However, oversold does not automatically mean bullish. Markets can stay oversold for longer than traders expect, especially during liquidation-driven declines. The bounce from $1.09 showed signs of seller exhaustion, but recovery volume remained weaker than the selling that preceded it.