XRP has temporarily returned above $1.10 after a rapid decline, but the market has not yet shown clear reversal signals. Current buying is more focused on supporting lower levels, and the price remains within the previously formed downward structure.
Low-level buying drives rebound
According to market data cited by CoinDesk, XRP had previously fallen to around $1.09, hitting a near four-month low, before rebounding to around $1.14. The daily gain was approximately 1.6%, with a strong upward move occurring around 22:00 UTC, when trading volume rose to approximately 145.3 million XRP, pushing the price above resistance near $1.1350.
However, the rebound momentum slowed in the final stages of the session, with the price falling from $1.1488 to $1.1386 before finding buying support again near the support level, indicating that selling pressure above has not yet eased significantly.
Exchange outflows and ETF inflows coexist
The report noted that over 25 million XRP have flowed out of exchanges in recent days. Such changes are typically interpreted as a transfer of holdings rather than a short-term concentrated sell-off. Meanwhile, XRP-related ETFs continued to attract inflows in May, indicating continued support at lower levels.
- Recently, exchanges have seen a net outflow of over 25 million XRP.
- In May, related ETFs saw net inflows of approximately $118 million.
- Cumulative ETF inflows approached $1.4 billion.
A breakout from $1.15 to $1.20 is still pending.
From a larger timeframe perspective, XRP remains within a downward channel. This rebound has eased the pressure for further short-term declines, but it hasn't changed the overall trend of continuously lower highs. The report also states that the RSI has fallen to its lowest level since the November 2024 rally, suggesting that previous selling pressure may have been somewhat released.
The market's focus range is now relatively clear. The area around $1.13 to $1.14 is a short-term support zone, $1.15 is the first major resistance level, and $1.20 is considered a key level to observe whether the recovery can continue. If the price falls below $1.10 again, $1.00 may become the next support level to watch.
