XRP traded in a narrow range on Monday, supported by improving derivatives data even as institutional demand remained subdued. The token was last changing hands at $1.12, recording a 1.12% increase over the past 24 hours.
Technical overview: Stability above key support
XRP maintained its position above the key $1.10 support level, rebounding from lows seen in June. Analysis of the daily TradingView chart indicated the token continued to trade above the middle Bollinger Band, currently at $1.0933. The upper and lower Bollinger Bands were set at $1.1665 and $1.0201, suggesting a relatively stable trading environment.
The Relative Strength Index (RSI) rose to 51.62, signaling neutral momentum with a slight bullish tilt. Buyers have largely defended support, yet a sustained move above the immediate resistance at $1.17 remains necessary to confirm a stronger positive trend.
XRP’s support has held firm near $1.09–$1.10, while a breakout above $1.17, especially with increased trading volume, would mark a bullish development.
Losing the middle Bollinger Band could result in another test of the $1.02 support zone, keeping traders vigilant for potential downside risk.
Derivatives recovery, but ETF inflows remain flat
Recent data points to a rebound in XRP derivatives activity. CoinGlass reported open interest climbing back to roughly $2.4 billion after experiencing a pullback in June, reflecting that traders are gradually rebuilding their positions.
By contrast, Spot XRP ETF activity has stalled. According to analytics platform SoSoValue, net inflows registered zero for July 14, leaving cumulative inflows around $1.48 billion and total ETF assets at about $1.01 billion.
The limited ETF activity highlights ongoing caution among institutional investors despite renewed optimism elsewhere in the market.
| Date | Spot XRP ETF Net Inflows | Cumulative Inflows | Total ETF Assets |
|---|---|---|---|
| July 14 | $0 | $1.48 billion | $1.01 billion |
Regulatory news and market sentiment
A surge in optimism followed online remarks from crypto commentator Amonyx claiming the CLARITY Act is likely to pass soon. The CLARITY Act aims to provide clear guidelines for digital assets in the United States, a move seen as significant for the cryptocurrency industry.
Senator Cynthia Lummis amplified discussion by stating, “Financial freedom is an American value. Digital assets are its newest expression. Congress should be protecting that, not ignoring it.”
Despite the legislation not yet being enacted, anticipation for improved U.S. regulation has historically bolstered sentiment among XRP holders, illustrating the market’s sensitivity to policy developments.
Mini dictionary: CLARITY Act, proposed U.S. legislation seeking to establish regulatory clarity for digital assets by specifying the roles of federal agencies and setting clear rules for recognizing cryptocurrencies within financial markets.
In summary, while growing derivatives activity and hopes for regulatory progress have improved overall mood, a definitive breakout in XRP’s price may ultimately rely on stronger participation from institutional buyers and further action on the regulatory front.
