The XRP bounce is starting to look less like a dead cat bounce and more like a market trying to build a base.
Buyers pushed the token to $1.14 and then $1.18 in the strongest volume seen since the sell-off began, forcing traders to focus on whether the recovery can reach the $1.20 to $1.30 resistance zone that has capped previous rallies.
News background
• XRP-linked ETFs have attracted approximately $1.4 billion in cumulative inflows since their launch, with May marking the strongest month of institutional demand yet.
• More than 25 million XRP recently left exchanges, extending a trend that suggests long-term holders are piling in despite overall market weakness.
• Whale addresses holding significant XRP balances rose to a record level, reinforcing the view that larger investors have been adding exposure during the correction.
Price Action Summary
• XRP rose from $1.1503 to $1.1866 during the 24-hour session, gaining more than 3%.
• The key move occurred during the June 14 session at 21:00 UTC, when volume increased to 107.6 million XRP, more than four times the daily average, pushing the price through resistance near $1.14.
• Momentum continued into the close, with XRP briefly reaching $1.1928 before consolidating above $1.18.
Technical analysis
• The most important advance was the recovery of the $1.14-$1.15 area. That area acted as resistance during the recent decline and has now become support.
