$1.20 Defence: Ripple Price Forecast as XRP Bulls Hold Support While Selling Pressure Forces Liquidations

• $1.20-$1.25 remains XRP’s support range. The token is holding this zone after Binance’s $6.3 billion hack sparked a steep sell-off.
• $16 million in XRP long positions were liquidated on Friday as wider selling pressure weighed on the token.
• Despite tentative recovery signals, XRP’s price action remains constrained by a predominantly bearish structure.

$1.25 is Ripple’s (XRP) approximate trading level on Friday. The token has edged up from short-term support at $1.20. This modest rebound follows a steep sell-off amid reports that a hack on the Binance exchange affected approximately $6.3 billion.

Binance halted deposits and withdrawals to contain the incident, which unsettled the wider crypto market. According to updates on X, roughly $3 billion has been frozen by Binance, blockchain partners and law enforcement while recovery work continues.

In a statement on X, Binance said, “Our initial investigation suggested that the security incident may have involved a compromised laptop, however our subsequent investigation has uncovered additional points of breach,” and added, “This was a complex attack, and we are doing all we can in coordination with law enforcement to resolve it.”

$16 million in XRP longs liquidated on Friday

An 8% slide in XRP on Thursday inflicted losses on many traders as the token joined the broader cryptocurrency sell-off. Nearly $24 million in long positions were liquidated that day, according to CoinGlass, compared with losses of only $892,000 for short position holders.

Friday brought some relief from the sell-off, but long liquidations remained high at $16 million. Around $1.7 million in short positions were also wiped out. Should $1.20 support weaken and open the door to further losses, bullish traders would likely take the heaviest hit from the correction. Sustained recovery momentum, however, could reverse that outcome. The direction remains unclear for now; price behaviour over the coming days should offer a clearer picture.

$1.20 support holds: XRP technical analysis

Following a modest bounce from recently tested support at $1.20, XRP is trading close to $1.25. The near-term outlook nevertheless remains distinctly bearish, with the price beneath every key Exponential Moving Average (EMA) and the prevailing SuperTrend line. Overhead levels include the 100-day EMA at $1.33, the 50-day EMA at $1.35 and the 200-day EMA at $1.37. Together, they suggest the pair remains capped following its recent retreat from the mid-$1.30s.

Further overhead pressure comes from the SuperTrend indicator at $1.41. Meanwhile, a Relative Strength Index (RSI) reading around 36 points to persistent downward momentum. Marginally negative and below zero, the Moving Average Convergence Divergence (MACD) also indicates that sellers retain control, although near-term downside pressure may be easing.

At $1.33, the 100-day EMA presents the first resistance, with the 50-day EMA at $1.35 and the 200-day EMA at $1.37 next in line. These levels create a concentrated supply zone that XRP must reclaim to reduce the bearish bias. Beyond that cluster, the SuperTrend line at $1.41 presents another barrier before broader downtrend resistance near $1.60.

Until buyers lift XRP above the moving-average cluster, the pair remains exposed to additional declines. The current daily-chart indicators identify no nearby structural support.

(The technical analysis of this story was written with the help of an AI tool. Know more.)