XRP price hovers near $1 as XRPL upgrade looms

The XRP token has fallen about 17% since June 1, trading around $1.15 and testing the $1.04 support level. Analysts note $0.90 as a deeper long‑term support point, while on‑chain data show a deep capitulation: the 90‑day realized profit‑to‑loss ratio has dropped to 0.38, SOPR is below 1 and roughly 60% of supply (about $50 billion) is underwater. The Crypto Fear & Greed Index fell to 14, indicating extreme fear, and the broader market has slid with Bitcoin down nearly 4%.

The XRPL network is scheduled to activate version 3.2.0 on June 15, bringing performance improvements, up to a 40% reduction in node memory usage, and a rename of the core server software from “rippled” to “xrpld.” About 84% of nodes have already upgraded to version 3.1.3, paving the way for the rollout. While the upgrade aims to boost confidence and demand for XRP, traders remain focused on broader crypto market weakness and whether the token can defend the $1 region.

Overall, market participants are wary, awaiting stronger demand or improved macro conditions for any sustained price recovery.