XRP finally found buyers after one of the sharpest selloffs of the year, but the rebound looks more like stabilization than a trend change. The token bounced off levels last seen before the November 2024 breakout, and yet every rally still runs into sellers, leaving XRP between deeply oversold conditions and a market that hasn’t stopped de-risking.
News background
• More than 25 million XRP have left exchanges in recent days, extending a trend that typically points to accumulation rather than immediate selling.
• XRP-linked ETF products continued to attract capital, with around $118 million in inflows recorded in May and cumulative inflows approaching $1.4 billion.
• Analysts and forecasting models increasingly see the $1.10-$1.20 range as a potential stabilization zone after XRP’s recent 17% weekly decline.
Summary of price action
• XRP rose 1.6% during the session, recovering from lows near $1.09 and crawling back towards $1.14.
• The strongest move came during the 22:00 UTC session, when volume rose to 145.3 million XRP and pushed the price through resistance near $1.1350.
• Momentum faded to the end, with XRP falling from $1.1488 to $1.1386 before buyers stepped back into near support.
Technical Analysis
• The bigger story is that XRP remains trapped inside a descending channel despite the bounce. The rebound eased the immediate downside pressure, but did not break the broader pattern of lower highs.
• The RSI has fallen to one of its most oversold readings since before the November 2024 rally, a sign that the sell-off may be exhausting.
• Inflows into exchanges and ETFs continue to point towards accumulation below the surface, but price action still looks like a market trying to find a bottom, rather than a market starting a new uptrend.
• The rejection from $1.09 matters because it showed that buyers are willing to defend the area, although follow-on buying remains limited.
What traders need to see
• $1.13-$1.14 is now the key near-term support zone after the recent recovery.
• $1.15 remains the first significant resistance level and the upper limit of the current descending channel.
• A move above $1.20 would be the first sign that XRP is starting to repair the damage from the recent selloff.
• If support near $1.10 fails again, traders will likely focus on whether the psychologically important $1.00 level will be the next downside target.
