XRP Surges 8%, Reclaims $1.20 and Eyes Resistance at $1.30
Summary
- XRP jumped about 8%%, reclaimed the $1.20 level, and the $1.27 to $1.30 range was identified as the next resistance zone.
- Upbit's share of XRP wallet flow rose to 31%%, while XRP exchange-traded fund (ETF) products have seen about $1.4 billion in net inflows.
- The market is focused on whether XRP can hold the $1.20 level and whether it could slip back below $1.18, key variables for the near-term trend.
Forecast Trend Report by Period
XRP surged about 8% to reclaim the $1.20 level, breaking above a key resistance zone for the first time since a sharp drop in early June. The move, backed by heavy trading volume, has put the focus on whether the rally can extend toward $1.30.
CoinDesk reported June 15 that XRP climbed to as high as $1.2307 in intraday trading from $1.1425. It rose about 8% and broke through resistance at $1.14, $1.18 and $1.20 in sequence.
The breakout came with the strongest trading volume since the early-June selloff. CoinDesk said the move reversed a market mood that had been reflecting expectations for further weakness and prompted investors to reassess the token's outlook.
The rally also came as XRP-related flows improved. Upbit's share of XRP wallet flow rose to 31% as of June 14, sharply higher than 13% a week earlier. That has fueled views that demand for XRP is expanding, particularly in Asian markets.
Institutional demand was also cited as a supportive factor. CoinDesk reported continued inflows into XRP exchange-traded fund products, with cumulative net inflows reaching about $1.4 billion since launch.
The short-term technical picture has improved as well. XRP recently rebounded from a support zone of $1.05 to $1.09 and has since formed higher lows. Some analysts said the relative strength index, or RSI, showed a bullish divergence, a signal typically interpreted as easing selling pressure and renewed buying interest.
CoinDesk said the latest advance is difficult to explain as short covering alone. Trading activity ran about 22% above the weekly average, while participation during the breakout was the strongest in recent weeks.
Traders are now watching whether XRP can hold above $1.20, a key near-term test. If it stays above that level, the breakout structure could strengthen further. The next major resistance zone is at $1.27 to $1.30.
If XRP slips back below $1.18 and upside momentum fades quickly, the rebound may be viewed as a technical bounce after oversold conditions rather than a trend reversal.
The market is also watching whether stronger Upbit-led flows, ETF inflows and rising trading volume can support further gains in XRP.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
