Friday’s selloff pushed XRP deeper into the red, completing a 22% retrace over 
the past 30 days and sending the token below $1.10 for the first time since 
November 2024. For many, this move immediately raises the most important 
question in the current climate: could the altcoin reach the $1 mark again 
soon, or is a fall below this level now on the cards? Could XRP Drop 40% 
Toward $0.70? In a new report, market expert Sam Daodu flags that the broader 
technical picture is now fully bearish across multiple timeframes. He notes 
that XRP is trading below its 20, 50, 100, and 200-day moving averages (MAs), 
a configuration that typically signals sellers remain in control no matter 
what chart window investors look at. The expert said there is not much support 
once XRP trades at $1.09. Around $1.05, buyers have tended to show interest, 
and then $1 is the next major psychological floor where demand often appears 
simply because it is a round number. Related Reading: Hyperliquid Strategies 
Stays Profitable: Strategy And Bitmine Record Losses Above $10 Billion Even 
more concerning, some chart analysts he references in the report believe the 
cryptocurrency could drop as much as another 40% from current levels if the 
risk-off trend continues, which would place the token around $0.70. Yet on- 
chain data tells a different story. Monthly RSI Hits Rare Oversold Reset The 
number of XRP wallets holding at least 10,000 tokens hit a record 332,230 in 
May, and that group has continued to grow through each drawdown of 2026. 
Meanwhile, wallets holding 1 million or more XRP added a net 42 new addresses 
since January—its first increase in millionaire wallets since September 2025. 
Whale behavior also appears to be tightening around supply. Whales holding 10 
million or more XRP control 45.83 billion tokens, representing 68.5% of the 
circulating supply, the highest concentration since May 2018. In addition, 
whale outflow dominance on Binance recently reached 91.4%, the highest reading 
since 2024. Daodu notes that when Binance outflow dominance last hit similar 
levels—October 2024—XRP later rallied from about $0.50 to above $3 in the 
months that followed. There is also a longer-cycle technical signal that Daodu 
says does not show up often. XRP’s monthly Relative Strength Index (RSI) has 
fallen into the oversold reset zone for only the fourth time in 13 years. Each 
of the earlier RSI resets eventually preceded a major reversal in XRP’s 
direction, and Daodu says the fourth occurrence is now forming with XRP 
sitting around $1.09. Two Hope Beacons In The Downtrend While whales and long- 
cycle chart signals may support the idea of a future rebound, the near-term 
catalyst for many is policy. Daodu points to the CLARITY Act floor vote as a 
potential turning point for XRP’s outlook for the rest of the year. The bill 
cleared the Senate Banking Committee on May 14 and was placed on the Senate 
Legislative Calendar on June 1. That puts it at the fifth stage out of nine 
needed before it can become law, with the full Senate floor vote identified as 
the next major step. If the CLARITY Act clears and the macro environment 
stabilizes, Standard Chartered forecasts XRP could reach $2.80, with a bullish 
range stretching as high as $8. But if the bill stalls before recess and slips 
into a later timeline, such as 2030 or beyond, the bank’s outlook suggests 
prices could retreat toward $0.53. Related Reading: Bitcoin Crashes Near 
$60,000: $62B In Treasuries Erased, Analyst Sees Potential Bottom Ahead On 
whether the altcoin will drop below $1, Daodu’s view is more conditional than 
definitive. He suggests the altcoin could likely test $1 before this leg of 
the sell-off ends, and whether the level breaks depends on two key factors. 
The first is whether Bitcoin (BTC) can reclaim and consolidate above $60,000. 
Daodu says if BTC slides into the $55,000 zone, XRP would likely follow 
regardless of its own fundamentals. The second factor is whether the CLARITY 
Act receives a Senate floor vote before the August recess. If that vote 
happens and the bill clears, the upside could become attractive enough for 
institutional money to re-engage—potentially prompting a rally from whatever 
low XRP marks during the downturn. Featured image created with OpenArt; chart 
from TradingView.com

Friday’s selloff pushed XRP deeper into the red, completing a 22% retrace over the past 30 days and sending the token below $1.10 for the first time since November 2024. For many, this move immediately raises the most important question in the current climate: could the altcoin reach the $1 mark again soon, or is &#8230;

XRP To $0.70 Next? The Case For Another 40% Crash

US government backing of Bitcoin could accelerate institutional adoption, but 
Strategy&#8217;s evolving approach highlights potential financial risks.
The post Strategy CEO Phong Le highlights US government support for Bitcoin 
appeared first on Crypto Briefing.

US government backing of Bitcoin could accelerate institutional adoption, but Strategy&#8217;s evolving approach highlights potential financial risks. The post Strategy CEO Phong Le highlights US government support for Bitcoin appeared first on Crypto Briefing.

Strategy CEO Phong Le highlights US government support for Bitcoin

Japan&#8217;s yen weakness could destabilize global markets, impacting digital 
assets and forcing policy shifts amid economic and political pressures.
The post Japan&#8217;s yen weakness raises concerns for policymakers despite record 
intervention spending appeared first on Crypto Briefing.

Japan&#8217;s yen weakness could destabilize global markets, impacting digital assets and forcing policy shifts amid economic and political pressures. The post Japan&#8217;s yen weakness raises concerns for policymakers despite record intervention spending appeared first on Crypto Briefing.

Japan’s yen weakness raises concerns for policymakers despite record intervention spending

A cryptocurrency analyst has pointed out how Dogecoin has returned to the 
support level of a Parallel Channel following the latest market decline. 
Dogecoin Is Potentially Following A Parallel Channel In a new post on X, 
analyst Ali Martinez has talked about how Dogecoin is currently trading with 
respect to a Parallel Channel. This type of technical analysis (TA) pattern 
forms whenever an asset moves between two parallel trendlines. Related 
Reading: Bitcoin Price Back At $63,000 Despite 1.2 Million BTC Absorption The 
upper level of the channel can act as a source of resistance, while the lower 
can provide support. Together, the trendlines keep the price locked between 
them. If either of these levels fails, then the price may see a continuation 
of the trend in the direction of the break. That is, a surge above the pattern 
can be a bullish signal, while a fall under it is a bearish one. Parallel 
Channels can be divided into a few different categories based on how the 
channel is oriented with respect to the graph axes. The &#8220;Ascending Channel&#8221; 
forms when the trendlines point up, while the &#8220;Descending Channel&#8221; involves a 
negative slope. In the context of the current topic, the third and simplest 
type is of interest: a Parallel Channel that&#8217;s parallel to the time-axis. This 
pattern corresponds to a phase of true sideways consolidation in the asset. 
Now, here is the chart shared by Martinez that shows the Parallel Channel that 
the daily Dogecoin price has been trading inside over the past few months: As 
displayed in the above graph, Dogecoin retested the upper level of the 
Parallel Channel in May, but ended up finding rejection. Since then, the 
memecoin has sharply moved down the width of the channel, reaching the bottom 
level. During this descent, the asset not only broke under the support of the 
midway level, but it also lost the 50-day moving average (MA). With DOGE now 
retesting the lowest trendline of the channel, it remains to be seen how the 
asset will develop in the coming days. &#8220;As long as this support holds, I think 
a recovery toward $0.1019 and $0.1156 remains likely,&#8221; noted the analyst. &#8220;A 
breakdown, however, could expose the next major supply zone near $0.067.&#8221; 
Related Reading: Bitcoin Traders Turn Most Fearful In 2 Months Following Crash 
While Dogecoin has still not broken out of its Parallel Channel, another 
altcoin, Cardano, has seen a different outcome. As Martinez has highlighted in 
another X post, the weekly ADA price has fallen under the support level of a 
long-term channel recently. Parallel Channel breakouts are often assumed to be 
of the same length as the width of the channel. Based on this, the analyst 
explained, &#8220;For Cardano $ADA, my targets are $0.11 and $0.051.&#8221; DOGE Price 
Following the latest continuation of the drawdown, Dogecoin has reached the 
$0.843 level. Featured image from Dall-E, chart from TradingView.com

A cryptocurrency analyst has pointed out how Dogecoin has returned to the support level of a Parallel Channel following the latest market decline. Dogecoin Is Potentially Following A Parallel Channel In a new post on X, analyst Ali Martinez has talked about how Dogecoin is currently trading with respect to a Parallel Channel. This type &#8230;

Dogecoin Tests Channel Floor Again: Breakdown Or Rebound?

The inflows suggest a potential shift in investor sentiment, indicating 
renewed interest and confidence in cryptocurrency ETFs.
The post Ethereum and Bitcoin spot ETFs snap lengthy outflow streaks with 
fresh inflows appeared first on Crypto Briefing.

The inflows suggest a potential shift in investor sentiment, indicating renewed interest and confidence in cryptocurrency ETFs. The post Ethereum and Bitcoin spot ETFs snap lengthy outflow streaks with fresh inflows appeared first on Crypto Briefing.

Ethereum and Bitcoin spot ETFs snap lengthy outflow streaks with fresh inflows

The investigation highlights the tension between emerging crypto platforms and 
traditional legal frameworks, potentially influencing global regulatory 
trends.
The post South Korean police investigate Polymarket users for illegal gambling 
appeared first on Crypto Briefing.

The investigation highlights the tension between emerging crypto platforms and traditional legal frameworks, potentially influencing global regulatory trends. The post South Korean police investigate Polymarket users for illegal gambling appeared first on Crypto Briefing.

XRP To $0.70 Next? The Case For Another 40% Crash

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