Key facts
- XRP is holding near the $1 support level.
- Leveraged selling has been flushed out, with open interest collapsing.
- Daily active addresses have increased by approximately 72% since mid-June.
- XRP spot ETFs recorded $15.34 million in inflows on June 29.
- Key resistance levels are at $1.0460 and $1.08-$1.10.
- $1.00 remains the critical support level.
XRP is maintaining its position near the $1 mark following a significant flush-out of leveraged selling, which saw open interest plummet from approximately $1.3 billion to below $150 million. This deleveraging event, coupled with an 832% surge in long liquidations above their three-month average, has cleared crowded long positions. Network activity has shown improvement, with daily active addresses rising about 72% since mid-June. Despite broader crypto market sentiment remaining weak, XRP spot ETFs attracted $15.34 million in inflows on June 29, indicating continued institutional demand.
Traders are closely monitoring the $1 support level and the $1.0250-$1.0350 zone, while XRP attempts to break through resistance at $1.0460 and more decisively at the $1.08-$1.10 area. The token experienced a 1% decline in the latest session before bouncing from support as open interest fell sharply. The current technical setup suggests that while selling pressure has eased and buyers are active near support, momentum has not yet shifted higher, with XRP remaining below key moving averages. The 14-day RSI has recovered to around 33, indicating reduced selling pressure but still weak momentum.