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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. The move triggered more than $600 million in liquidations within one hour. XRP longs accounted for over $40 million of that total.
As Bitcoin weakened, XRP moved lower with the rest of the sector. Over $600 million in positions were wiped out in just one hour. That wave of liquidations added more pressure to already fragile prices. XRP longs made up a large share of the losses.
At the same time, Celal Kucuker offered a much different view. The financial analyst, who has more than 20 years of market experience, said XRP may still follow a larger technical path. Could this drop be the setup for a much bigger move later?
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. He also pointed to an upside target between $8 and $9. His chart uses XRP’s monthly timeframe. It shows 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.
The weekly chart Kucuker shared tracks XRP from 2018 through 2031. It shows the current price near $1.041. It also marks key Fibonacci levels and a long-term trend channel. The 0.618 Fibonacci level sits near $0.878. That level matches Kucuker’s $0.86 to $0.87 bottom zone. The chart also places the 1.618 extension near $9.042. That level lines 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.
Read More: XRP Struggles at $1.10: What the 2-Year Signal Means for Traders
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. Those services include 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. It also 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.
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.
