• Selling pressure broke support near $1.0350 during the June 30 session before XRP tested $1.0249 and stabilized.
• Buyers entered near the lows, with volume rising to 92.73 million XRP at 01:00 UTC, about 134% above the 24-hour average.
• A late rebound pushed XRP from $1,024 to $1,038, with volume spiking to 3.88 million during the break above $1,032 resistance.
Technical Analysis
• The key development is that XRP continues to defend the $1.00 area, although sentiment across crypto remains weak.
• The leverage reset improves the short-term setup. Open interest has collapsed, funding rates have turned negative, and foreclosures have removed crowded long positions.
• The rejection from $1.02 showed that buyers are still active near support, but the move has yet to regain the levels needed to move momentum higher.
• XRP remains below the major moving averages, with the 20-day EMA near $1.11, the 50-day near $1.20, the 100-day near $1.31, and the 200-day near $1.52.
• 14-day RSI has recovered to around 33, indicating that selling pressure has eased, but momentum remains weak and below neutral levels.
• Bollinger Bands have narrowed after June’s selloff, indicating lower volatility, but XRP still needs to regain the mid-band near $1.12 to show a stronger recovery.
