XRP finally pushed through the $1.14 level that had capped recent attempts higher, but the move did not run cleanly into the next resistance band. Buyers drove the token as high as $1.158 on heavy volume before sellers forced a pullback toward $1.146, turning the session into a test of whether former resistance can now act as support.
News Background
• XRP spot ETFs recorded a ninth consecutive week of net inflows, adding $17.19 million despite broader market uncertainty.
• The CLARITY Act missed its expected timeline after the Senate adjourned for recess without a floor vote, leaving regulatory catalysts delayed.
• Santiment data showed XRP’s 30-day MVRV near -45% and 365-day MVRV near -47%, meaning most holders remained underwater across both shorter and longer timeframes.
• Several analysts pointed to improving technical structures, including a 4-hour downtrend break, bullish divergence and a possible Elliott Wave advance.
Price Action Summary
• XRP rose from $1.1344 to $1.1454 during the 24-hour session, gaining 2.87%.
• The breakout came at 22:00 UTC on July 5, when volume reached 81.89 million XRP, about 207% above the 24-hour average.
• The move carried XRP from $1.1356 to $1.1594 in two hours, clearing resistance near $1.1400.
Source: Original Article
