While XRP showed signs of accumulation around the $1.00 level, on-chain data and recent large investor activity have painted a notable short-term picture. However, the fact that its price remains below $1.10 indicates that the bullish outlook has yet to fully strengthen.
On-chain data and fund flows stand out
A total of 4,941 new wallets were created on the XRP Ledger in a single day, marking the strongest daily increase in the past three months. The XRP Ledger is the open-source blockchain network used to record all XRP transactions.
According to data from CryptoQuant, the All CEX Whale vs Retail Spread ratio reached 50.9%, while the measurement on Binance stood at 44.6%. These figures point to increasing activity among large investors, while retail traders remain more cautious.
On June 29, XRP spot ETFs recorded $15.34 million in net inflows, with Bitwise alone accounting for $11.94 million of the total. Throughout June, total investments in XRP ETFs surpassed $62 million, while cumulative net flows neared $1.48 billion.
While on-chain data and large investor activity are gaining strength for XRP, a more convincing recovery would require the price to hold above $1.10.
Attempt at a short-term breakout
As of 04:16 UTC on July 2, XRP climbed 1.41% in the last 24 hours to reach $1.0613. Despite the increase, its performance continued to lag behind the broader cryptocurrency market and price action remained relatively limited.
The true momentum arrived at 03:27 UTC, when XRP surpassed $1.0560 on trading volume of 5.34 million, marking a 1,433% increase over the previous hourly average. Buying persisted between 03:27 and 03:53 UTC, with total volume reaching 11.31 million. During this period, the price tested an intraday high of $1.0665.
Key levels under close watch
Technically, a series of higher lows were noted above the $1.00 support. In the latest recovery, the $1.0318 and $1.0410 areas emerged as crucial bases. While the breakout above $1.0560 improved the short-term outlook, a sustained move above $1.0665 is still required.
The 24-hour total trading volume remained just 5.95% above the seven-day average, which suggests the move is not strong enough to signal a definitive trend change. Furthermore, XRP continues to trade below its key exponential moving averages: the 20-day ($1.11), 50-day ($1.20), 100-day ($1.31), and 200-day ($1.52) marks.
Although momentum indicators show some recovery from recent lows, the RSI remains near 33 and Chaikin Money Flow data is still negative, indicating buyers have yet to fully take control.
In the short run, the $1.0560–$1.0590 range is seen as the first crucial breakout zone to maintain. Resistance is at $1.0665, while the $1.10–$1.11 band represents the main threshold. If the price climbs above $1.10, attention may shift back to $1.20. Conversely, slipping below $1.04 would bring the $1.00 support back into focus.
