While XRP has struggled to stabilize around $1 in recent trading, it appears that most of the leveraged positions that accelerated the previous decline have been cleared from the market. The price fell 1.05 percent in the 24-hour period, falling from $1.0476 to $1.0366. On the other hand, while the area just above $1 was maintained, it was observed that buyers re-engaged at low levels.
Chain data strengthened as leverage unraveled
The open position size in derivative markets fell below 150 million dollars from the previous peak of around 1.3 billion dollars. This pullback indicates a significant dissipation of the heavily leveraged transactions that accumulated during the previous uptrend. During the same period, long position liquidations exceeded the last three-month average by 832 percent, and a leveraged position of $ 6.7 million was closed in a single candle.
On the network side, a more constructive picture stands out. While the number of daily active addresses was approximately 23 thousand on June 14, it approached 39 thousand 500 on June 27. The two-week increase was approximately 72 percent. Spot XRP ETFs, which track institutional interest, also recorded an inflow of $15.34 million on June 29.
XRP continues to defend the $1 zone despite the overall weak sentiment in the crypto market; However, in order to talk about a stronger technical recovery, the range between $ 1.08 and $ 1.10 must be crossed again.
Prominent price zones in the short term
After selling pressure broke the support around $1.0350 in June 30 trading, XRP fell to $1.0249 and stabilized there. As the lowest levels were approached, transaction volume increased significantly. As of 01:00 UTC, volume reached 92.73 million XRP, approximately 134 percent above the 24-hour average.
With the reaction buying in the later part of the day, the price recovered from $ 1,024 to $ 1,038. Volume increased to 3.88 million as the $1.032 resistance was breached. Despite this, XRP remained in a range between $1.0201 and $1.0476 throughout the intraday movement and traded in a narrow band.
What thresholds are monitored in the technical view?
In the short-term outlook, $1.00 remains the main support. Daily closings below this level may bring the $0.90 to $0.85 band back to the agenda. Above, the range between 1.0250 and 1.0350 stands out as the close support area, while $ 1.0460 is the first resistance level.
In the broader technical framework, XRP remains below key moving averages. The 20-day exponential moving average is near $1.11, the 50-day average is near $1.20, the 100-day average is near $1.31, and the 200-day average is near $1.52. Although the 14-day RSI indicator has recovered to around 33, it remains below the neutral zone, indicating that momentum is still weak.
The narrowing of Bollinger bands after the sales wave in June indicates that volatility has decreased. However, for a stronger recovery signal, the price needs to reclaim around $1.12, which corresponds to the middle band. Therefore, it seems difficult to talk about a clear directional change in the technical outlook until the squeeze between $1 and $1.10 is resolved.
