XRP briefly surged above $1.25 before sellers re‑entered, pushing the price back below $1.23 amid the session’s most intense volume, underscoring ongoing challenges in absorbing excess supply from the recent sell‑off.
News Background
XRP ETF products saw a second consecutive week of inflows, drawing $10.68 million and bringing total cumulative inflows to approximately $1.44 billion.
South Korea’s Upbit exchange remained a dominant driver of XRP activity, with wallet‑flow participation rising from 13% to 31% during the week ending June 14.
Ripple persisted in expanding its payment infrastructure, recently integrating RLUSD and advancing cross‑border settlement initiatives.
Price Action Summary
During the 24‑hour period, XRP slipped from $1.2619 to $1.2205, a decline of 3.3%.
Selling intensified in the afternoon as trading volume spiked to 87.5 million XRP, breaching the $1.2240 support level.
A brief late‑session rebound to $1.223 quickly reversed, highlighting the level as near‑term resistance.
Technical Analysis
The pivotal development was the breakdown of the $1.22‑$1.23 range, a zone previously watched by traders after XRP rallied above $1.20 earlier in the week.
Also Read
- Crypto perps’ US future to be defined by what regulators decide to call them
- Cryptocurrency Wallets Amass Over $24 Million Through World Cup Prediction Markets
- Reevaluating the Perpetual Corruption: Insights from the CME Legal Challenge
- Africa’s Shift to Regulated Crypto Enables a Remittance Revolution
