Key facts
- XRP briefly surpassed $1.14 resistance on July 5 at 22:00 UTC.
- The breakout saw XRP reach $1.1594 on volume 207% above average.
- XRP pulled back to test $1.14 as support.
- XRP spot ETFs saw $17.19 million in net inflows, marking the ninth straight week.
- XRP's 30-day and 365-day MVRV ratios are near -45% and -47%, respectively.
XRP experienced a brief surge above the $1.14 resistance level on heavy trading volume, a move that has now turned the former resistance into a critical support test. The cryptocurrency reached a high of $1.1594 before encountering sellers and pulling back toward $1.146.
Despite the price action, XRP spot exchange-traded funds (ETFs) have seen net inflows for nine consecutive weeks, with $17.19 million added recently. However, on-chain data from Santiment indicates that most XRP holders remain underwater, with 30-day and 365-day MVRV ratios hovering near minus 45% and minus 47%, respectively.
Traders are closely monitoring the $1.14 to $1.145 zone as key support. Resistance levels to watch for a sustained uptrend are $1.155, followed by $1.17 to $1.20. Analysts have noted improving technical structures, including a break of a 4-hour downtrend and bullish divergence, but a decisive move above $1.155 is needed to confirm a trend continuation.