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XRP is testing the $1.20 area as exchange-traded product inflows return, but derivatives data suggests short pressure remains. Over the past 24 hours, XRP fell 3.29% and traded with a $1.20 to $1.25 range. Trading volume was $1.76 billion, and market capitalization was about $74.45 billion.
After XRP briefly pushed above $1.26 and reached as high as $1.2996, the token pulled back toward $1.20. Analyst EGRAG Crypto said the next step is whether XRP can turn prior resistance into support, noting that holding above $1.19 keeps the structure “bullish,” while a move below that level could trigger a retest of lower support. EGRAG also said losing $1.14 would weaken the setup again.
ETF flows remain a key support factor. XRP products recorded a second straight week of inflows, adding $10.68 million and lifting cumulative inflows to about $1.44 billion. Daily flows also improved: SoSoValue reported XRP ETF fund inflows on June 16 were up from June 15. However, total net assets slipped to $1.06 billion from $1.11 billion, indicating that price weakness offset part of the demand.
CryptoQuant analyst Amr Taha said XRP reclaimed $1.20 while spot cumulative volume delta rose to $267.4 million, the highest level since mid-May. Taha contrasted this with a reading near negative $177 million on April 12, interpreting the change as spot buyers returning across exchanges. He noted that spot buying reflects direct demand for XRP rather than only leveraged activity.
Derivatives, however, showed a different picture. Taha said Binance perpetual CVD fell to a record low near negative $792.5 million, down from about negative $218 million on May 12. With open interest near $251 million, leverage has not fully left the market. The implication is that if spot buyers continue absorbing selling pressure, short positions may face stress; if demand fades, downside risk could increase.
BankXRP also pointed to a Binance deposit/withdrawal pattern that has appeared near prior cycle bottoms. The analyst said XRP printed the same exchange flow signal seen near the last two cycle bottoms, though he warned the sample size is small.
Technical readings suggest XRP is consolidating rather than breaking out. Bollinger Bands show XRP trading near the middle band: price was near $1.1957, close to the middle band around $1.1948. The upper band was near $1.3471 and the lower band near $1.0425, indicating the token is not at a clear volatility extreme.
The RSI was 45.71, below the neutral 50 level. The moving average was near 34.62, suggesting downside pressure has eased, but momentum has not fully turned positive.
EGRAG’s daily map places $1.11 as a “survival zone,” $1.21 as first strength, and $1.28 as the next level where structure improves. He said $1.35 to $1.38 would show stronger buyer control, while $1.51 remains the major breakout area.
In the near term, EGRAG’s 4-hour update highlighted a sequence of levels: holding $1.14 to retest $1.1938, then breaking $1.1938 toward $1.2600; losing $1.09 would risk a move toward $1.05. He also emphasized that holding above $1.19 supports the bullish structure, while a break below $1.14 could bring $1.11 and $1.05 back into focus.
Overall, the market is sending competing signals: ETF inflows and spot CVD point to demand, while weak RSI, compressed Bollinger Bands, and heavy Binance perpetual short pressure argue for caution.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
