Open interest has dropped sharply from last year’s highs while network activity and ETF inflows continue to rise, but XRP still needs to reclaim the $1.10 level to establish a clearer bullish structure.
XRP remains anchored near $1, though the source of selling pressure has shifted. Unlike earlier declines driven by crowded leveraged positions, recent weakness has come amid a significant deleveraging. The token slipped around 1% خلال the session before rebounding off support, as open interest contracted, long positions were liquidated, and on-chain activity improved. Traders are now focused on whether the $1 support can hold long enough for buyers to push toward the $1.08–$1.10 range.
Market Context
• Daily active addresses climbed from roughly 23,000 on June 14 to nearly 39,500 by June 27, marking a 72% increase within two weeks.
• Open interest has declined from a peak of $1.3 billion to under $150 million, clearing much of the leverage built during prior rallies.
• Long liquidations surged to 832% above 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, signaling continued institutional demand despite weak broader market sentiment.
Price Action Overview
• XRP declined from $1.0476 to $1.0366 over the past 24 hours, a drop of roughly 1.05%.
• Price action remained confined within a tight $1.0201–$1.0476 range, holding above the key $1.00 psychological level.
• Selling pressure pushed prices below $1.0350 on June 30, with XRP testing a low of $1.0249 before stabilizing.
• Buyers emerged near the lows, driving volume to 92.73 million XRP at 01:00 UTC—about 134% above the daily average.
• A late-session rebound lifted XRP from $1.024 to $1.038, supported by a volume spike to 3.88 million as resistance near $1.032 was broken.
Technical View
• XRP continues to defend the $1.00 level even as broader crypto sentiment remains fragile.
• The recent deleveraging improves the near-term outlook, with open interest collapsing, funding rates turning negative, and forced liquidations clearing excess long positioning.
• The bounce from the $1.02 area indicates active buying interest, though price has yet to reclaim levels needed to confirm upward momentum.
• XRP remains below key 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.
• The 14-day RSI has recovered to around 33, suggesting easing selling pressure, but still reflecting weak momentum below neutral levels.
• Bollinger Bands have tightened following June’s decline, indicating reduced volatility, though a move above the mid-band near $1.12 is needed to signal stronger recovery.
Key Levels to Watch
• The $1.00 level remains critical support; a daily close below it could shift focus to the $0.90–$0.85 range.
• Immediate support sits between $1.0250 and $1.0350, an area that has held multiple tests.
• Resistance begins at $1.0460, which capped recent price action.
• The $1.08–$1.10 zone is the next major hurdle, with a break above required to confirm a more constructive trend.
Until XRP decisively clears $1.10 or loses the $1.00 base, the market remains defined by support defense, supported by improving network fundamentals but lacking a confirmed technical reversal.
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