New wallet growth has reached a three-month high and whale activity is picking up, but XRP still needs to break back above $1.10 for a recovery to gain credibility.
XRP is showing early signs of accumulation near the $1 level, although price action has yet to fully reflect the improving on-chain picture. The token moved slightly higher after a sharp spike in intraday volume, while wallet creation surged and large holders became more active even as retail traders remained cautious. The focus now is on whether buyers can turn the $1 support zone into a springboard for a move above $1.10.
News Background
• The XRP Ledger saw 4,941 new wallets created in a single day, marking the strongest daily increase in more than three months.
• CryptoQuant data showed the All CEX Whale vs Retail Spread at 50.9%, with Binance’s metric at 44.6%, highlighting stronger participation from large holders while retail activity stayed subdued.
• XRP spot ETFs recorded $15.34 million in net inflows on June 29, with Bitwise accounting for $11.94 million.
• Total ETF inflows for June exceeded $62 million, pushing cumulative net flows to დაახლოებით $1.48 billion.
Price Action Summary
• XRP rose 1.41% to $1.0613 over the 24-hour period ending July 2 at 04:16 UTC.
• The token lagged the broader crypto market by 1.27%, indicating that gains remain relatively muted despite improving fundamentals.
• A key breakout occurred at 03:27 UTC, when XRP moved above $1.0560 on volume of 5.34 million — a 1,433% jump compared to the previous hourly average.
• Buying momentum continued between 03:27 and 03:53 UTC, with total volume reaching 11.31 million as the price hit a session high near $1.0665.
Technical Analysis
• XRP continues to post higher lows above the $1.00 support area, with $1.0318 and $1.0410 forming the base of the current recovery structure.
• The break above $1.0560 improved the near-term outlook, but confirmation requires a sustained move above $1.0665 to avoid another range-bound bounce.
• While breakout volume was strong, total 24-hour activity was only 5.95% above the seven-day average, limiting conviction in a broader trend shift.
• XRP remains below key moving averages: the 20-day EMA near $1.11, the 50-day around $1.20, the 100-day near $1.31, and the 200-day close to $1.52.
• Momentum has improved from oversold conditions, but an RSI near 33 and negative Chaikin Money Flow suggest buyers have not fully taken control.
What Traders Should Watch
• The $1.0560–$1.0590 range is the immediate breakout zone that bulls must defend.
• $1.0665 is the next resistance after capping the latest advance.
• The $1.10–$1.11 zone remains the key hurdle, aligning with the 20-day EMA and Bollinger midline.
• A sustained move above $1.10 would shift focus toward $1.20, while a drop below $1.04 would bring the $1.00 support area back into view.
• Until XRP reclaims $1.10, the setup remains a support-building phase supported by stronger network activity and whale accumulation, rather than a confirmed trend reversal.
