XRP finally found a buyer after one of the sharpest sell-offs of the year, but the recovery looks more like a stabilization than a change in trend. The token has rebounded from levels last seen before the November 2024 breakout, but each rally still runs into sellers, leaving XRP stuck between deeply oversold conditions and a market that has steadily de-risked.
News context
• More than 25 million XRP has left exchanges in recent days, continuing a trend that generally points toward accumulation rather than immediate selling.
• XRP-related ETF products continued to attract capital, with approximately $118 million in inflows recorded in May and cumulative inflows approaching $1.4 billion.
• Analysts and forecasting models are increasingly viewing the $1.10 to $1.20 area as a potential stabilization zone following XRP’s recent 17% weekly decline.
Price Action Summary
• XRP gained 1.6% during the session, recovering from a low near $1.09 and rising towards $1.14.
• The strongest move occurred during the 22:00 UTC session, when volume surged to 145.3 million XRP and pushed the price through the resistance near $1.1350.
• Momentum faded at the close, with XRP falling from $1.1488 to $1.1386 before buyers moved back near support.
Technical analysis
• Most importantly, XRP remains trapped in a descending channel despite the rebound. The rally eased immediate downside pressures, but did not break the broader trend of lower highs.
• The RSI has fallen to one of its most oversold levels since before the November 2024 rally, a sign that selling may be drying up.
• Currency outflows and ETF inflows continue to point to accumulation below the surface, but price action still resembles a market trying to find a bottom rather than a market beginning a new uptrend.
• The rebound from $1.09 is important because it shows that buyers are willing to defend the area, even if further buying remains limited.
What traders should watch out for
• $1.13-1.14 is now the key near-term support zone after the latest rally.
• $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 caused by the recent sell-off.
• If support near $1.10 fails again, traders will likely focus on whether the psychologically important $1.00 level becomes the next downside target.
