XRP drifts toward $1.10 support as traders await break from three-week range
Weak volume and fading momentum kept XRP pinned near the bottom of its recent range, with the $1.05-$1.10 area emerging as the market's key line in the sand.
Price Action Summary
• XRP fell from $1.1313 to $1.1109 during the 24-hour session, losing 1.8%.
• The sharpest selling came during a June 22 reversal when volume jumped to 65.4 million XRP, roughly 84% above average.
• Price spent most of the session grinding lower before testing support near $1.10 into the close.
Technical Analysis
• The market remains trapped inside the same range that has defined trading for much of June.
• XRP recently lost support from the weekly Ichimoku cloud, adding to the cautious tone around the chart.
• The more important development is the repeated testing of the $1.05-$1.10 area. Markets that keep returning to support eventually either bounce hard or break.
$XRP
#IranCutsCrudePrices
Weak volume and fading momentum kept XRP pinned near the bottom of its recent range, with the $1.05-$1.10 area emerging as the market's key line in the sand.
Price Action Summary
• XRP fell from $1.1313 to $1.1109 during the 24-hour session, losing 1.8%.
• The sharpest selling came during a June 22 reversal when volume jumped to 65.4 million XRP, roughly 84% above average.
• Price spent most of the session grinding lower before testing support near $1.10 into the close.
Technical Analysis
• The market remains trapped inside the same range that has defined trading for much of June.
• XRP recently lost support from the weekly Ichimoku cloud, adding to the cautious tone around the chart.
• The more important development is the repeated testing of the $1.05-$1.10 area. Markets that keep returning to support eventually either bounce hard or break.
$XRP
#IranCutsCrudePrices