XRP (XRP) fell about 9% this week, but it beat Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) as large-cap crypto sold off.
Key Points:
- XRP fell less than Bitcoin, Ethereum and Solana during the weekly market decline.
- Smart money and exchange-flow data pointed to accumulation during the drop.
- The $1.22 level could decide whether XRP triggers a short squeeze or retests $1.04.
XRP Relative Strength
Analyst Ananda Banerjee said XRP traded near $1.16, while Bitcoin fell about 11%, Ethereum lost roughly 16% and Solana slid close to 17%.
That made XRP the least damaged large-cap token.
The market stayed risk-off.
Spot Bitcoin and Ethereum ETFs posted heavy outflows into early June, while capital left higher-risk tokens and kept XRP under pressure.
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XRP Squeeze Risk
The main explanation was positioning.
Banerjee cited TradingView data showing XRP’s Smart Money Index rising from Feb. 6 into early June, even as the token price declined.
Glassnode data showed net XRP exchange position change moving from negative 8 million XRP on Jun. 3 to negative 92 million by Jun. 8.
That suggests more coins left exchanges as price fell.
The next test sits near $1.22, where Coinglass data shows a move higher could pressure shorts, with about $134 million in short liquidation leverage on Bybit against roughly $80 million in longs.
A break above $1.22 could force traders to cover.
If demand fades there, XRP could retest $1.04, the floor it defended after losing $1.34 in late May.
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