CoinDesk
XRP held above the $1.00 mark in the 24 hours through June 30 as a leveraged selloff ran its course, with the token bouncing from $1.0249 lows after long liquidations spiked to 832% above the three-month average and $6.7 million of leveraged positions were flushed in a single candle. Open interest collapsed from a roughly $1.3 billion peak last year to under $150 million, clearing the crowded longs that had built up through earlier rallies.
The session saw XRP trade in a $1.0201 to $1.0476 range, down 1.05% on the day, before buyers stepped in near the lows on 92.73 million XRP of volume, about 134% above the 24-hour average. A late-session push took XRP back from $1.024 to $1.038 and reclaimed the $1.032 resistance line.
Why it matters
Underlying demand has been quietly improving even as the chart stayed messy. Daily active addresses climbed from about 23,000 on June 14 to nearly 39,500 by June 27, a 72% increase in two weeks. XRP spot ETFs took in $15.34 million on June 29, extending a streak of institutional inflows against weak broader crypto sentiment. Funding rates have turned negative and the 14-day RSI has recovered to about 33 from oversold, suggesting the heaviest forced selling is behind it.
Market impact
The leverage reset changes what the next move looks like. Without the crowded long tail, an ETF-led or active-address-led push toward $1.0460, then $1.08 to $1.10, would be a cleaner technical test than the rallies that preceded the flush. XRP still sits below its 20-day EMA near $1.11, 50-day near $1.20, 100-day near $1.31 and 200-day near $1.52, so reclaiming the middle Bollinger Band around $1.12 is the first real signal of momentum turning. A daily close below $1.00 puts $0.90 to $0.85 back on the table, but until that breaks or $1.10 gives way, this stays a support-defense trade with improving fundamentals.
Frequently asked questions
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What is driving XRP's price action near $1?
A leverage flush has cleared out crowded longs: open interest fell from about $1.3 billion to under $150 million, long liquidations ran 832% above the three-month average, and XRP is holding the $1.00 support as buyers step in on elevated volume.
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How much did XRP spot ETFs take in recently?
XRP spot ETFs logged $15.34 million in inflows on June 29, extending a streak of institutional demand even as broader crypto sentiment stayed weak.
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What does rising XRP network activity signal?
Daily active addresses climbed from about 23,000 on June 14 to nearly 39,500 by June 27, a 72% increase in two weeks, indicating organic network usage is improving despite the weak chart.
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What are the key support and resistance levels for XRP?
Support sits at $1.00 and a tighter $1.0250 to $1.0350 zone; resistance runs at $1.0460, then $1.08 to $1.10, with the 20-day EMA near $1.11 and the middle Bollinger Band near $1.12 needed for a stronger recovery.
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What would change the technical outlook for XRP?
A daily close above $1.10, especially with a reclaim of the middle Bollinger Band near $1.12, would shift momentum higher; a close below $1.00 would put $0.90 to $0.85 back in focus.
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