Open interest has unwound significantly from last year’s peak while network activity and ETF inflows trend higher, but XRP still needs a move above $1.10 to improve its technical outlook.
XRP continues to hover around the $1 mark, though the nature of selling pressure has shifted. The latest pullback was not driven by crowded leverage like earlier declines. Instead, the token dipped about 1% before rebounding from support as open interest dropped, long positions were liquidated, and on-chain activity strengthened. The focus now is whether the $1 level can hold long enough for buyers to test the $1.08–$1.10 resistance zone.
Market Context
• Daily active addresses increased from roughly 23,000 on June 14 to nearly 39,500 by June 27, a 72% jump in two weeks.
• Open interest has fallen from around $1.3 billion to below $150 million, clearing much of the prior leverage buildup.
• Long liquidations surged to more than eight times the three-month average, with $6.7 million wiped out in a single move.
• Spot XRP ETFs recorded $15.34 million in inflows on June 29, extending institutional demand despite weak broader sentiment.
Price Action
• XRP declined from $1.0476 to $1.0366 over 24 hours, a drop of about 1.05%.
• The token traded within a tight $1.0201–$1.0476 range while holding above the key $1.00 support.
• Selling pressure pushed price below $1.0350 during the June 30 session, with a low of $1.0249 before stabilizing.
• Buyers stepped in near the lows, driving volume to 92.73 million XRP—about 134% above the daily average.
• A late rebound lifted price from $1.024 to $1.038, supported by a spike in volume as resistance near $1.032 broke.
Technical Outlook
• XRP continues to defend the $1.00 level even as broader crypto sentiment remains weak.
• The leverage reset improves the near-term structure, with open interest dropping, funding turning negative, and long positions cleared.
• The bounce from $1.02 shows buyer interest, but price has yet to reclaim levels needed for a confirmed trend reversal.
• XRP remains below key moving averages: the 20-day EMA near $1.11, 50-day near $1.20, 100-day near $1.31, and 200-day near $1.52.
• The 14-day RSI has recovered to around 33, indicating reduced selling pressure but still weak momentum.
• Bollinger Bands have tightened after June’s selloff, signaling lower volatility, though reclaiming the mid-band near $1.12 is needed for stronger recovery signals.
Key Levels
• $1.00 remains critical support; a close below could expose $0.90–$0.85.
• Immediate support sits at $1.0250–$1.0350.
• Initial resistance stands at $1.0460.
• A break above $1.08–$1.10 is required to confirm a more constructive trend.
Until XRP moves above $1.10 or breaks below $1.00, price action remains range-bound, supported by improving fundamentals but lacking a clear technical breakout.
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