Key facts
- XRP maintained a price above $1.10.
- XRP-linked investment products experienced $6.75 million in inflows.
- Cumulative inflows into XRP ETFs reached approximately $1.44 billion.
- Futures trading volume for XRP surged to around $5 billion.
- XRP's 24-hour gain was 1%, reaching $1.1141.
- The XRP Ledger is scheduled for a version 3.2.0 upgrade on June 15.
XRP managed to hold above the $1.10 support level, a critical zone, following a late surge in trading volume. Despite this stabilization, the cryptocurrency continues to lag behind the broader crypto market's recovery. Institutional investment in XRP-linked products remains strong, with recent inflows totaling $6.75 million, bringing cumulative ETF inflows to approximately $1.44 billion. The XRP Ledger is set to undergo a version 3.2.0 upgrade on June 15, which is expected to significantly reduce server memory requirements. Meanwhile, futures trading activity saw a substantial increase, reaching around $5 billion in session volume. However, open interest in futures markets remains near cycle lows, suggesting traders are repositioning rather than establishing long-term positions, contributing to a cautious sentiment. Technically, XRP's price action shows a small 1% gain to $1.1141 in the last 24 hours, with a brief push above $1.12 driven by heavy volume. Nevertheless, the token remains below its key moving averages, indicating a bearish technical structure. Resistance is noted at $1.12-$1.13 and more significantly at $1.1352, where the latest rally faltered. A decisive move above $1.26 would be needed to signal a meaningful chart repair.