XRP slipped 1.05% to settle at $1.0366 on July 1, driven by a massive unwind in derivatives market leverage.
Open Interest Collapses, Long Liquidations Surge
Open interest in XRP futures, which once peaked near $1.3 billion, has cratered below $150 million. That sharp contraction underscores the rapid exit of leveraged positions accumulated during the prior bullish run. Over the same period, long position liquidations jumped 832% above the three-month average, with $6.7 million in leveraged positions closed within a single candle.
On-Chain Addresses Spike, ETF Inflows Continue
On-chain data paints a more constructive picture. Daily active addresses rose from roughly 23,000 on June 14 to nearly 39,500 by June 27 — a 72% gain in two weeks. Meanwhile, spot XRP ETFs tracking institutional flows logged $15.34 million in net inflows on June 29, indicating sustained appetite among larger investors.
XRP continues to defend the $1 region despite broader crypto weakness. For a stronger technical recovery, it would need to reclaim the $1.08 to $1.10 range.
Key Price Zones: Support and Resistance in Sight
During June 30 trading, selling pressure pushed XRP below the $1.035 support, sending it to $1.0249 where it found equilibrium. As the price neared its lower bound, trading volume surged sharply — by 01:00 UTC, 24-hour volume had reached 92.73 million XRP, roughly 134% above the daily average.
Later, buying interest lifted XRP from $1.024 to $1.038. As it crossed the $1.032 resistance, volume increased to 3.88 million. Despite these moves, XRP remained confined to a tight band between $1.0201 and $1.0476 throughout the session.
Technical Pressure: Bearish Averages, Low RSI
Near term, $1.00 remains the primary support. A daily close below that level could open the door to the $0.90–$0.85 zone. On the upside, $1.0460 stands as the first resistance, while $1.0250–$1.0350 provides immediate support.
From a broader technical view, XRP still trades below its key moving averages. The 20-day EMA sits at $1.11, the 50-day at $1.20, the 100-day at $1.31, and the 200-day at $1.52. The 14-day RSI has recovered to about 33 but remains below neutral, signaling subdued momentum.
Bollinger Bands narrowed following June's sell-off, suggesting reduced volatility. A stronger recovery signal would require XRP to reclaim the middle band near $1.12. As long as price is squeezed between $1 and $1.10, a decisive shift in technical momentum remains elusive.