While the XRP price showed signs of accumulation around $ 1.00, on-chain data and large investor activity revealed a remarkable picture in the short term. However, the price remained below $1.10, indicating that the bullish outlook had not yet gained full strength.
Network data and fund flows highlighted
4,941 new wallets were created on XRP Ledger in one day. This level was recorded as the strongest daily increase in the last three months. XRP Ledger is known as an open source blockchain network where XRP transactions are recorded.
According to CryptoQuant data, the All CEX Whale vs Retail Spread rate was 50.9 percent. The measurement on the Binance side was at 44.6 percent. These data indicated that the effectiveness of large investors increased, while individual investors remained more cautious.
XRP spot ETFs received $15.34 million in net inflows on June 29. Bitwise covered $11.94 million of this total. The total amount entering XRP ETFs throughout June exceeded $62 million, while cumulative net flow reached approximately $1.48 billion.
While network data and major investor activity for XRP are gaining strength, the price must settle above $1.10 for a more convincing recovery outlook.
Short-term break attempt in price
As of 04:16 UTC on July 2, XRP increased by 1.41 percent in the last 24 hours to $1.0613. However, this performance lagged behind the overall cryptocurrency market and the movement was still limited.
The real momentum came at 03:27 UTC. XRP broke out above the $1.0560 level with a transaction volume of 5.34 million. This volume represented a 1,433 percent increase over the previous hourly average. Buying lasted from 03:27 to 03:53 UTC, and the total volume reached 11.31 million. During this period, the price tested $1.0665 as an intra-session peak.
Critical levels are closely monitored
In the technical outlook, it was noteworthy that higher lows were formed above the $ 1.00 support. In the last recovery attempt, the $1.0318 and $1.0410 levels stood out as the bottom area. Although a break above $1.0560 could improve the short-term structure, $1.0665 must be permanently surpassed.
Total 24-hour trading volume remained only 5.95 percent above the seven-day average. Therefore, the movement is not considered a completely new trend change. XRP is also trading below the 20-day exponential moving average of $1.11, the 50-day average of $1.20, the 100-day average of $1.31, and the 200-day average of $1.52.
Although there was a recovery from the low levels in the momentum indicators, the fact that the RSI indicator remained around 33 and the Chaikin Money Flow data was in the negative zone revealed that the buyers did not fully take control.
In the short term, the range between 1.0560 and 1.0590 dollars is watched as the first breakout zone that should be protected. $1.0665 is the first resistance, and the $1.10 to $1.11 band is the main threshold. If the price rises above $1.10, $1.20 may come up again. Conversely, a drop below $1.04 could bring the $1.00 support back into focus.
