XRP price could fall toward $1.03 without breaking long-term uptrend: analyst

Key points

• $XRP has fallen to around $1.16 after losing more than 3% in a day, while an analyst argues that a retreat toward the $1.03 area could form part of a longer consolidation rather than the start of a deeper downtrend.
• According to data from crypto.news, $XRP ($XRP) price traded near $1.16 on June 4, extending a pullback that has accompanied renewed weakness across the cryptocurrency market.
• Bitcoin (BTC) briefly slipped below $62,000 during the session as risk appetite deteriorated amid concerns over global growth, elevated oil prices, and uncertainty surrounding the Federal Reserve’s rate-cut path.
• The decline comes even as the $XRP Ledger ecosystem prepares for another network upgrade.
• Earlier this week, $XRP Ledger Operations announced that version 3.2.0 will soon be deployed, introducing a transition from the long-running “rippled” software name to “xrpld.” $XRP Ledger 3.2.0 is coming soon!