xrppriceanalysis

XRP sustains losses on Monday, edging lower toward the short-term $1.10 support. XRP failed to sustain momentum above $1.20 on the previous day, prompting profit-taking amid a broader crypto market drawdown attributed to mild inflows into related digital investment products, declining retail participation and macroeconomic uncertainty.
XRP retail activity slows amid mild capital inflows
Retail participation in the XRP derivatives market remains generally low despite the mild institutional inflows through spot Exchange-Traded Funds (ETFs). CoinGlass data show that perpetual Open Interest (OI) has declined to 2.12 billion XRP on Monday, from 2.14 billion XRP the previous day.
A wider scope highlights a steep drawdown from 2.38 billion XRP recorded on June 23, while further cooling could limit the token’s recovery potential.
Meanwhile, interest in XRP spot ETFs has held steady, outperforming other major assets such as Bitcoin (BTC) and Ethereum (ETH), with nearly $12 million in inflows last week. With nine straight weeks of inflows, interest in XRP-related digital investment products remains intact despite the headwinds and broader risk-off sentiment.
Cumulative inflows hold steady at $1.49 billion while net assets under management average $988 million, according to SoSoValue data.
Price analysis: XRP slides, aiming for $1.10 support
XRP pair remains confined within a broader downward parallel channel and trades well below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs) at $1.18, $1.29 and $1.50 respectively, which keeps the near-term bias decisively bearish.
At the same time, the remittance token holds above the Bollinger Bands' middle boundary at $1.10, suggesting some short-term stabilization, but the sequence of descending long-term EMAs hints that rallies are more likely to be sold than sustained.
Still, a mildly positive Moving Average Convergence Divergence (MACD) histogram on the daily chart shows that XRP has the potential to rebound if traders reengage and defend the $1.10 psychological support.
Initial resistance is aligned with the upper boundary of the active downward channel near $1.17, followed by the 50-day EMA at $1.18 and the upper Bollinger Band around $1.20. A daily close above these clustered barriers would be needed to ease the prevailing downside pressure and open the door toward the 100-day EMA near $1.29 and the 200-day EMA around $1.50. Looking down, immediate support is seen at the Bollinger midline around $1.10, ahead of the lower Bollinger Band near $1.01. A deeper deterioration toward the channel floor around $0.84 cannot be ruled out if sellers regain control below the current pivot area.
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A wave of relief swept across digital asset markets this week, pulling major altcoins out of their recent slump. Bitcoin successfully reclaimed the $63,000 threshold, while Ethereum pushed back above $1,800.
Riding this broader crypto market recovery, XRP bounced from its local lows near $1.01, recently changing hands at approximately $1.15.

XRP technical chart highlighting support and resistance levels. Source: CryptoRank[/caption]
While the upward price action injected much-needed optimism into investor sentiment, market dynamics suggest this bounce might be a temporary reprieve. When assets move higher in a straight line, momentum indicators often become overheated and require stabilization.
This latest rebound is allowing the market to reset those indicators and gradually exhaust lingering selling pressure, creating the foundation for a more sustainable bottoming process rather than an immediate bull run.
The $1.18 Wall and Synchronized Rejections
Despite the positive momentum, XRP encountered a formidable barrier at the $1.18 resistance level. Buyers initially showed strength during the approach, but the rally quickly lost steam as sellers aggressively stepped in to defend the zone.
This sharp rejection was not an isolated event. Bitcoin experienced a nearly identical technical hurdle around the exact same time.
BTC climbed toward its macro 0.5 Fibonacci retracement near $64,000 before facing intense sell pressure. This synchronized rejection across major crypto assets signals that heavy overhead supply remains a significant obstacle. Buyers still have substantial work to do before a broader market breakout can materialize.
Why One Analyst Targets $0.87
According to a July 6 XRP price analysis by prominent market commentator CasiTrades, the current price action aligns perfectly with how healthy, long-term corrections typically unfold.
Looking at the four-hour chart, the analyst identified an ongoing corrective Elliott Wave pattern. This specific structure implies the market is currently navigating the final, choppy stages of a broader correction, rather than kicking off a new impulsive upward trend.
Her primary downside target rests at the 1.618 Fibonacci extension, located around $0.87. While a drop to this level might seem severe given the recent recovery, the prevailing wave count supports the probability of one final shakeout to gather liquidity before the correction fully concludes.
Momentum data backs up this cautious stance. After XRP was rejected at $1.18, the Relative Strength Index (RSI) began to roll over. The RSI has now retreated toward the mid-40s after previously spiking above 60, confirming that bullish momentum has cooled significantly and sellers are regaining temporary footing.
Crucial Support and Invalidation Levels
If XRP begins to slide toward that $0.87 target, it will first need to break through several heavily defended support zones.
The immediate floor sits at $1.09, followed closely by the psychological stronghold at $1.00. Market participants expect fierce battles between buyers and sellers at these specific liquidity zones. However, unless overhead resistance is broken first, the path of least resistance technically points downward.
This bearish thesis is not absolute. If XRP manages to establish $1.09 as firm support and subsequently breaks through the $1.18 resistance with strong trading volume, the downside scenario weakens considerably.
An even more decisive breakout above $1.30 would likely invalidate the $0.87 target completely, signaling that the macroeconomic correction has already run its course.
As the summer trading months continue, whether XRP reclaims $1.30 or cascades down to $0.87 will likely set the tone for the token's trajectory heading into the rest of the year.
The post first featured on CryptosNewss.com
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