On Monday, July 6, XRP showed a tight trading pattern, moving within a narrow range between short-term support and upper resistance zones. Buyers worked to keep the price above key thresholds, while sellers maintained pressure at higher levels. After a recovery in the market last week, traders are closely watching whether momentum can be sustained.
Support and resistance levels in focus
At the time of writing, XRP was trading at $1.13. On the day, the price edged up by 0.25%, but trading volume fell sharply, dropping 26.75% to $1.24 billion. Over the past seven days, XRP has climbed 8.46%.
Analyst Egrag Crypto noted that the last two weekly candles in XRP have highlighted a fierce battle between buyers and sellers. One candle featured a long upper wick, while the other had a clear lower wick—indicating persistent selling pressure on attempts to push the price higher, while buyers stepped in whenever the price dipped.
Egrag Crypto underscores that the candle body resistance at $1.20 is critical; if this area is surpassed, short-term control could shift back to the buyers.
According to Egrag Crypto, the primary resistance levels are at $1.40, $1.65, and the blue macro region. On the downside, buyers have put up a notable defense at $1.00 and $1.05. The analyst also points to the 200 EMA and the lower trend line as support levels. A break below $0.96 could strengthen bearish scenarios, while the $0.77 to $0.78 range is regarded as a riskier threshold.
Glossary: The 200 EMA is an exponential moving average calculated by giving more weight to the latest 200 periods. It’s widely used in technical analysis to gauge long-term trends and to identify potential support and resistance areas.
| Level | Significance |
|---|---|
| $1.00 to $1.05 | Nearby support zone |
| $1.20 | Critical short-term resistance |
| $1.40 to $1.65 | Upper resistance areas |
| $0.96 | Key threshold in bearish scenario |
Short-term technical outlook: $1.145 takes the spotlight
Another analyst, Diana, observed that after losing the $1.145 level, XRP managed to reclaim it quickly. The price couldn’t hold above the breakout zone near $1.18, but buyers re-entered the market and pushed the pair back above $1.145.
According to Diana, a notable technical reaction formed on the four-hour chart. The RSI indicator has cooled down, dropping from around 80 to the mid-60s. This suggests the previously overheated momentum has eased somewhat, though the overall bullish view remains intact.
Diana emphasized that staying above $1.145 is vital to confirm this level as support, adding that a breakout above $1.18 could swiftly bring the $1.20 resistance level back into focus.
Derivative data shows weakening volume
CoinGlass data indicates that while derivative market trading volume has weakened, overall positioning remains relatively balanced. Futures trading volume has decreased 30.96% to $1.71 billion. Meanwhile, open interest edged up 0.53% to $2.43 billion. The funding rate based on open interest stands at 0.0049%. CoinGlass is a well-known provider of data on crypto derivatives markets.
In the short term, for the direction to become clear, the market needs to maintain the $1.145 support and break through the $1.18 resistance. If the price rises above this band, $1.20 could quickly become the main focal point. On the other hand, a downward break could thrust the $1.05 and $1.00 support levels back into the spotlight.
