XRP briefly broke below a closely watched support level on Sunday before buyers intervened.
The token fell to around $1.12 in one of the session’s highest volumes, then rebounded to $1.15 within hours, leaving traders focused less on the drop itself and more on whether the latest test of support signals accumulation or another pause in a broader downtrend.
News background
• XRP continues to trade within the same wide $1.10-$1.30 range that has contained the price action for most of June.
• Analysts remain divided between viewing the range as a base-building phase and a continuation pattern within a broader downtrend.
Price Action Summary
• XRP fell from $1.1451 to $1.1383 during the 24-hour session, a drop of about 0.6%.
• Selling accelerated around 21:00 UTC as volume increased to 85.8 million XRP, pushing the price to a session low near $1.1213.
• Buyers quickly absorbed the move, sending XRP back towards $1,148 and recovering most of the breakout before consolidation occurred.
Technical analysis
• The initial break below $1.1385 looked significant, especially since it occurred at the largest volume spike of the session.
