XRP fell 1.05% to $1.0366 as leveraged positions cleared from peak

Leveraged positions unwind as on-chain metrics improve

Open interest in derivatives markets, which previously soared to about $1.3 billion, has now dropped below $150 million. This sharp reduction underlines the significant unwinding of leveraged trades accumulated during the last bullish rally. In the same period, liquidations of long positions jumped to 832% above the three-month average, with $6.7 million in leveraged positions closed in a single candle.

Network activity and institutional interest rise

On-chain data shows a more constructive picture. The number of daily active addresses climbed from approximately 23,000 on June 14 to nearly 39,500 by June 27, marking a two-week gain of roughly 72%. Meanwhile, spot XRP ETFs monitored for institutional flows registered $15.34 million in inflows on June 29, pointing to robust interest among larger investors.

XRP continues to defend the $1 region despite the overall weakness in the crypto market. However, for a stronger technical recovery, it would need to reclaim the $1.08 to $1.10 range.

Key price zones in the short term

During June 30 trading, selling pressure pushed XRP below the $1.035 support, sending it down to $1.0249 where it found equilibrium. As the price approached its lower bounds, trading volume surged markedly. By 01:00 UTC, 24-hour volume had soared to 92.73 million XRP—about 134% above the daily average.

Later in the session, XRP rebounded from $1.024 to $1.038 following buying interest. As it crossed the $1.032 resistance, volume increased to 3.88 million. Despite these fluctuations, XRP remained confined to a narrow band between $1.0201 and $1.0476 throughout the day.

Technical thresholds under watch

In the near term, $1.00 remains the principal support level. A daily close below this threshold could bring the $0.90–$0.85 range back into play. On the upside, the $1.0250–$1.0350 range serves as immediate support, while $1.0460 stands as the first resistance to be tested.

From a broader technical perspective, XRP continues to trade below its main moving averages. The 20-day exponential moving average is at $1.11, the 50-day at $1.20, the 100-day at $1.31, and the 200-day at $1.52. Although the 14-day RSI has recovered to around 33, it remains below the neutral zone, indicating that momentum is still subdued.

The narrowing of Bollinger Bands following June’s sell-off suggests reduced volatility, but reclaiming the middle band near $1.12 would be needed for stronger signals of a recovery. As long as XRP is squeezed between $1 and $1.10, a definitive shift in technical momentum appears elusive.