• Selling pressure broke support near $1.0350 during the June 30 session before XRP tested $1.0249 and stabilized.
• Buyers stepped in near the lows, with volume rising to 92.73 million XRP as of 01:00 UTC, about 134% above the 24-hour average.
• A late bounce pushed XRP from $1.024 to $1.038, with volume soaring to 3.88 million during the break above the $1.032 resistance.
Technical analysis
• The key development is that XRP continues to defend the $1.00 area even as sentiment around the cryptocurrency remains weak.
• Resetting leverage improves short-term setup. Open interest has plummeted, funding rates have turned negative, and forced liquidations have emptied crowded long positions.
• The bounce from $1.02 showed that buyers are still active near support, but the move has not yet regained the levels needed to increase momentum.
• XRP remains below the major moving averages, with the 20-day EMA near $1.11, the 50-day EMA near $1.20, the 100-day EMA near $1.31, and the 200-day EMA near $1.52.
• The 14-day RSI has recovered to around 33, showing that selling pressure has eased, but momentum remains weak and below neutral levels.
• Bollinger Bands have narrowed after the June sell-off, pointing to lower volatility, but XRP still needs to reclaim the middle band near $1.12 to show a stronger recovery.
