XRP briefly fell below a closely watched support level on Sunday before buyers stepped in.
The token fell to around $1.12 on one of the session’s heaviest volumes, then rebounded toward $1.15 within hours, leaving traders less focused on the decline itself and more on whether the latest test of support signals a buildup or another break in a broader downtrend.
News context
• XRP continues to trade in the same wide $1.10 to $1.30 range that contained price action for most of June.
• Analysts remain torn between viewing the range as a base-building phase and a continuation trend within a broader downtrend.
Price Action Summary
• XRP fell from $1.1451 to $1.1383 during the 24-hour session, a decline of approximately 0.6%.
• Selling accelerated around 9:00 p.m. UTC when volume surged to 85.8 million XRP, pushing the price to a session low near $1.1213.
• Buyers quickly absorbed the move, bringing XRP back to $1.148 and recovering most of the breakdown before consolidation took hold.
Technical analysis
• The initial break below $1.1385 seemed significant, particularly because it occurred during the session’s largest volume spike.
