CoinDesk
XRP briefly broke below key support near $1.13 on Sunday, dropping to a session low around $1.12 on the heaviest volume spike of the day, before buyers stepped in and drove a sharp rebound toward $1.15. The move left the token still inside the $1.10 to $1.30 range that has contained price action for most of June.
The selling accelerated around 21:00 UTC, when volume surged to 85.8 million XRP and pushed price down to roughly $1.1213. Buyers absorbed the wave within hours, lifting XRP back toward $1.148 and recovering nearly 80% of the decline before consolidation set in.
Why it matters
The price action is less notable than the structure behind it. XRP has spent weeks compressed between roughly $1.10 and $1.30, and Sunday's breakdown test was the clearest stress on the lower boundary since the range formed. The fact that buyers defended the $1.10 to $1.15 zone on a volume spike suggests accumulation, not capitulation, at these levels.
At the same time, the rebound stalled near $1.147 to $1.149, reinforcing that band as immediate resistance. Analysts remain split on whether the range is a base-building phase or a continuation pattern within a larger downtrend; Sunday's tape argues for the former but does not settle the question.
Market impact
The session's 0.6% net loss (from $1.1451 to $1.1383) is small in isolation. The investable read is that $1.13 to $1.14 is now the immediate battleground, with the broader $1.10 to $1.30 corridor still intact. A sustained break outside either side would offer the first clear directional signal XRP traders have seen in weeks.
Frequently asked questions
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What happened to XRP's price on Sunday?
XRP briefly broke below key support near $1.13, falling to a session low around $1.12 on the heaviest volume spike of the day, before buyers stepped in and drove a sharp rebound toward $1.15.
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Why is the Sunday rebound considered significant?
Selling accelerated around 21:00 UTC with volume surging to 85.8 million XRP, pushing price to roughly $1.1213. Buyers absorbed the move within hours and recovered nearly 80% of the decline before consolidation set in.
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What is the broader trading range XRP has been stuck in?
XRP has been compressed between roughly $1.10 and $1.30 for most of June, with analysts split on whether the range represents a base-building phase or a continuation pattern within a larger downtrend.
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What price levels are traders watching now?
$1.13 to $1.14 is the immediate battleground after absorbing the latest wave of selling, with resistance near $1.147 to $1.15. A sustained break outside the broader $1.10 to $1.30 range would offer the first clear directional signal in weeks.
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How much did XRP actually lose over the 24-hour session?
XRP moved from $1.1451 to $1.1383, a net decline of roughly 0.6%, despite the sharp intraday dip and recovery.
Benjamin Cowen
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