XRP steadies above $1.10 to bounce from four-month lows
XRP recovered from four-month lows on elevated volume, but the token remains trapped below key resistance levels even as ETF inflows and exchange outflows continue to build.
XRP steadies above $1.10 to bounce from four-month lows
XRP recovered from four-month lows on elevated volume, but the token remains trapped below key resistance levels even as ETF inflows and exchange outflows continue to build.
XRP has stabilized after a sharp sell-off, with buyers defending the $1.09 area but the token still trading within a broader downtrend.
Heavy exchange outflows and steady ETF inflows suggest accumulation beneath the surface even as price action looks more like bottom-fishing than a new rally.
Traders are watching support around $1.13 to $1.14 and resistance near $1.15 to $1.20 as key levels that could signal either further downside toward $1.00 or the start of a repair in sentiment.
• XRP-linked ETF products continued attracting capital, with roughly $118 million in inflows recorded during May and cumulative inflows approaching $1.4 billion.
• Analysts and forecasting models increasingly view the $1.10-$1.20 area as a potential stabilization zone after XRP’s recent 17% weekly decline.
Price Action Summary
• XRP gained 1.6% over the session, recovering from lows near $1.09 and climbing back toward $1.14.
• The strongest move came during the 22:00 UTC session, when volume surged to 145.3 million XRP and pushed price through resistance near $1.1350.
• Momentum faded into the close, with XRP slipping from $1.1488 to $1.1386 before buyers stepped back in near support.
Technical Analysis
• The bigger story is that XRP remains trapped inside a descending channel despite the bounce. The recovery eased 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 selling may be becoming exhausted.
• Exchange outflows and ETF inflows continue to point toward accumulation beneath the surface, but price action still resembles a market trying to find a floor rather than one beginning a new uptrend.
• The bounce from $1.09 matters because it showed buyers are willing to defend the area, though follow-through buying remains limited.
What traders should watch
• $1.13-$1.14 is now the key near-term support zone after the latest recovery.
• $1.15 remains the first meaningful resistance level and the upper boundary 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 are likely to focus on whether the psychologically important $1.00 level becomes the next downside target.
Traders betting against bitcoin lost $504 million over 24 hours as it bounced from below $60,000, though a fresh Iran-Israel flare-up pulled prices back on Monday.
What to know:
Bitcoin’s sharp rebound from last week’s lows triggered about $504 million in losses for short sellers over 24 hours, the largest daily hit since late April.
Total crypto liquidations reached roughly $655 million and affected more than 104,000 traders, with bitcoin and ether positions accounting for the bulk of forced…
