• Selling pressure broke support near $1.0350 during the June 30 session before XRP tested $1.0249 and stabilized.
• Buyers intervened near the lows, with volume reaching 92.73 million XRP as of 01:00 UTC, approximately 134% above the 24-hour average.
• A late bounce pushed XRP from $1.024 to $1.038, with volume reaching 3.88 million on the break above $1.032 resistance.
Technical analysis
• The key development is that XRP continues to defend the $1.00 zone even as sentiment towards the crypto remains weak.
• Resetting leverage improves short-term setup. Open interest rates collapsed, funding rates turned negative, and forced liquidations eliminated overcrowded long positions.
• The rebound from $1.02 showed that buyers are still active near support, but the move has yet to regain the levels needed to accelerate momentum.
•
• The 14-day RSI has returned to around 33, showing that selling pressure has eased, but momentum remains weak and below neutral levels.
• Bollinger bands narrowed after the June selloff, indicating lower volatility, but XRP still needs to reclaim the midband near $1.12 to show a stronger recovery.
