XRP Stabilizes Above $1.10 After Significant Selloff
- Over the past few days, more than 25 million XRP exited exchanges, indicating a trend towards accumulation.
- In May, XRP-linked ETF products saw inflows of approximately $118 million, contributing to total inflows nearing $1.4 billion.
- XRP experienced a 17% weekly decline, with analysts identifying the $1.10-$1.20 range as a potential stabilization zone.
- During the latest session, XRP gained 1.6%, recovering from lows around $1.09 to reach nearly $1.14.
- Trading volume peaked at 145.3 million XRP, pushing prices past resistance levels.
- Despite the recovery, XRP remains in a descending channel with no significant break from lower highs observed.
The recent outflows and ETF inflows suggest underlying accumulation for XRP, even as price action indicates challenges in establishing a new uptrend.
With support now identified between $1.13-$1.14, traders are closely monitoring whether XRP can maintain this stability or if it will test the critical psychological level of $1.00. Source
