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Ripple (XRP) is trading slightly above $1.10 on Wednesday, following a rejection near the $1.20 resistance zone. The token continues to track the broader crypto market's risk-off sentiment, with Bitcoin (BTC) trading around $61,000 and Ethereum (ETH) risks slipping below $1,600. Extreme fear dominates crypto sentiment Market sentiment remains deeply negative, with the Crypto Fear & Greed Index holding in Extreme Fear at 14, slightly improving from 10 the previous day. Despite the minor increase, sentiment remains weak, reflecting low confidence in the market's ability to sustain any meaningful recovery. Prolonged fear conditions could continue to weigh on XRP's ability to retest the $2.00 level in the near term.

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Bitcoin price has fallen below $61,000 on June 10 as traders cut risk exposure ahead of the latest U.S.

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Charles Hoskinson suggests Ripple could rely on Cardano's Midnight sidechain to unlock XRP's next phase of growth.

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Over the last year, the XRP value has declined by almost 50%, erasing the majority of the gains that were realized from the 2024 rally. As time has gone on, the sentiment surrounding the altcoin has continued to decline, with many investors lamenting this poor performance.