Heavy selling pressure dragged XRP to its lowest level of the weekend, but strong demand quickly reversed the move, pulling the token back into its familiar trading range.
XRP briefly slipped below a key support level on Sunday before buyers stepped in to absorb the sell-off.
The price dropped to around $1.12 on one of the session’s largest volume spikes, then rebounded toward $1.15 within hours. Attention has since shifted from the decline itself to whether this repeated defense of support reflects accumulation or merely a pause within a broader downtrend.
News Background
• XRP remains confined within a broad $1.10–$1.30 range that has dominated price action for most of June.
• Analysts are divided, with some viewing the range as a base-building phase and others interpreting it as continuation within a larger bearish trend.
Price Action Summary
• XRP declined from $1.1451 to $1.1383 over the past 24 hours, a modest drop of roughly 0.6%.
• Selling intensified around 21:00 UTC, with volume surging to 85.8 million XRP and pushing the price to a session low near $1.1213.
• Buyers quickly stepped in, driving the price back toward $1.148 and recovering most of the losses before consolidation followed.
Technical Analysis
• The break below $1.1385 stood out, particularly as it coincided with the session’s largest volume spike.
• The rebound was equally notable, with XRP recovering close to 80% of the decline and returning toward the midpoint of its range.
• The failure to sustain levels below $1.13 indicates continued buying interest within the broader $1.10–$1.15 support zone.
• However, the rally stalled near $1.147–$1.149, reinforcing that region as near-term resistance.
What Traders Should Watch
• The $1.13–$1.14 zone remains the key near-term battleground after absorbing the latest wave of selling.
• Resistance sits near $1.147–$1.15, where upside momentum recently faded.
• The broader $1.10–$1.30 range remains intact.
• A decisive breakout beyond either boundary would likely provide the first clear directional signal in weeks.
