XRP has shown signs of recovery, trading near $1.16 after experiencing a sharp weekly decline that pushed the token close to the $1.055 area. According to latest reports, XRP gained 2% over 24 hours but remains down roughly 11% over seven days, with the token showing mixed signals as it tries to find a floor after the recent selloff. The recovery eased immediate pressure, though volume and derivatives data have not produced a clear direction for the next move. The rebound came after XRP fell toward $1.13, with the strongest move during the 22:00 UTC session when volume surged to 145.3 million XRP and pushed price through resistance near $1.1350. Despite the recovery, XRP remains down 12.8% over seven days and 16.16% over the past month, with the token holding a market capitalization near $72.19 billion and ranking sixth among crypto assets.
Exchange data reveals a divided market with contradictory volume patterns across major platforms. According to CryptoQuant contributor Arab Chain, XRP's 30-day Volume Z-Score on Binance rose to nearly 4.5, marking its highest level in four months and showing activity running far above its recent average. However, the Z-Score then dropped to about -0.70, placing volume below its 30-day average soon after the surge, suggesting that the rush of activity did not gain steady follow-through. Meanwhile, CryptoQuant review by Amr Taha shows a sharp reset on Bybit with XRP open interest falling to $181 million, its lowest level since February 13, representing a 36% decline from its May 22 peak of about $283 million. Binance showed a different setup with open interest remaining near $246 million, only about 2.4% below its June 2 peak of $252 million. The exchange split shows that traders did not reduce risk evenly, with Bybit removing a large share of open positions while Binance kept most of its leverage, potentially leaving Binance more sensitive to another sharp price move.
According to latest reports, XRP ETF products continued attracting capital with roughly $118 million in inflows recorded during May, with cumulative inflows approaching $1.4 billion. The weekly inflows stood out because Bitcoin ETFs saw heavy withdrawals during the same period, and XRP funds recorded only one red day last week. The funds' cumulative flows reportedly reached more than $1.43 billion, with Bitwise and Canary Capital remaining among the leading XRP ETF issuers by assets. These institutional purchases were too small to counteract the massive retail selling across global exchanges, highlighting the overwhelming impact of forced liquidations on market sentiment. The bounce from $1.09 matters because it showed buyers are willing to defend the area, though follow-through buying remains limited and price action still resembles a market trying to find a floor rather than beginning a new uptrend.
As reported by Crypto.news, the key takeaway is that support levels keep becoming resistance, with what was a buying zone around $1.20-$1.25 just days ago now where sellers are reappearing. The old $1.20 buying zone is now a thick ceiling of resistance following this violent move, with the $1.09-$1.10 area identified as the most important floor on the XRP chart. If the price fails to defend this boundary, analysts warn that XRP could slide toward the $1.03 area, which Crypto.news reports could be the main downside level followed by the $1.00 psychological area. The recovery eased immediate downside pressure but did not break the broader pattern of lower highs, with XRP remaining trapped inside a descending channel. The RSI has fallen to one of its most oversold readings since before the November 2024 rally, a sign that selling may be becoming exhausted, though the MACD remains slightly bearish with the line below the signal line. Near-term liquidity sits around $1.17 to $1.20, with a move through that area potentially forcing short sellers to close positions and extending the rebound.
Traders are watching $1.13-$1.14 as the key near-term support zone after the latest recovery, with $1.15 remaining the first meaningful resistance level and the upper boundary of the current descending channel. A move above $1.20 would be the first sign that XRP is starting to repair the damage from the recent selloff, with the clearest upside level remaining around $1.31 and $1.50 before the larger downtrend starts to weaken. If support near $1.10 fails again, traders are likely to focus on whether the psychologically important $1.00 level becomes the next downside target. The latest data presents two separate resets - Bybit has cleared a large share of leveraged positions, while Binance remains close to peak open interest. The next move may depend on whether fresh demand appears before Binance leverage starts to unwind, with the $1.08, $1.05 and recent low back in focus if support fails. The fading Binance volume reading leaves the recovery without strong confirmation from sustained activity, raising doubts about the sustainability of the current bounce.
