XRP finally broke through the $1.14 level that had capped recent attempts higher, but the move did not cleanly reach the next resistance band. Buyers took the token as high as $1,158 on heavy volume before sellers forced a pullback towards $1,146, turning the session into a test of whether previous resistance can now act as support.
News background
• XRP spot ETFs recorded a ninth consecutive week of net inflows, totaling $17.19 million despite increased market uncertainty.
• The CLARITY Act fell short of the expected timeline after the Senate adjourned to recess without a floor vote, delaying regulatory catalysts.
• Santiment data showed XRP’s 30-day MVRV near -45% and 365-day MVRV near -47%, meaning that most holders remained underwater in both shorter and longer time periods.
• Several analysts noted improving technical structures, including a break of the 4-hour downtrend, a bullish divergence, and a possible Elliott Wave advance.
Price Action Summary
• XRP rose from $1.1344 to $1.1454 during the 24-hour session, gaining 2.87%.
• The breakout occurred at 22:00 UTC on July 5, when volume reached 81.89 million XRP, approximately 207% above the 24-hour average.
• The move took XRP from $1.1356 to $1.1594 in two hours, removing resistance near $1.1400.
