Open interest has sharply declined since last year’s peaks, while active addresses and ETF investments have risen; however, XRP must reclaim $1.10 for a clearer chart.
By Shaurya Malwa Jul 1, 2026, 5:30 a.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- XRP is maintaining a position above the $1 mark after a significant liquidation of leverage, with open interest plummeting from around $1.3 billion to below $150 million.
- Indicators related to network activity and institutional investment have improved, with the number of daily active addresses increasing by approximately 72% since mid-June and XRP spot ETFs attracting $15.34 million in inflows on June 29, despite a generally weak sentiment in the crypto market.
- Market participants are closely monitoring whether the support at $1 and the range between $1.0250 and $1.0350 can hold while XRP seeks to surpass resistance at $1.0460 and, more importantly, the $1.08 to $1.10 zone.
While XRP is currently hovering around the $1 level, the selling pressure has shifted away from the crowded leverage that previously caused a decline. The asset dipped by 1% during the session but rebounded from support as open interest declined significantly, long positions were liquidated, and network activity showed improvement. Traders are now focused on whether the $1 support can endure long enough for buyers to push towards the $1.08 to $1.10 range.
News Background
• The number of daily active addresses for XRP surged from approximately 23,000 on June 14 to almost 39,500 by June 27, marking a 72% increase within two weeks.
• Open interest has decreased from a high of $1.3 billion to less than $150 million, effectively reducing a significant amount of leveraged positions that were established during earlier price rallies.
• Liquidations of long positions increased by 832% above their three-month average, with $6.7 million liquidated from leveraged positions in a single instance.
• XRP spot ETFs recorded inflows of $15.34 million on June 29, reflecting ongoing institutional interest despite the overall weak sentiment in the cryptocurrency market.
Price Action Summary
• During the 24-hour trading session, XRP dropped from $1.0476 to $1.0366, representing a 1.05% decline.
• The token fluctuated within a narrow range of $1.0201 to $1.0476 while managing to stay above the crucial psychological support level of $1.00.
• Selling pressure breached support near $1.0350 during the June 30 session, prompting XRP to test $1.0249 before stabilizing.
• Buyers entered around the lows, resulting in a trading volume of 92.73 million XRP at 01:00 UTC, which is about 134% higher than the 24-hour average.
• A late-session rally lifted XRP from $1.024 to $1.038, with volume surging to 3.88 million during the breakout above the $1.032 resistance level.
Technical Analysis
• The notable development is XRP's ability to maintain the $1.00 level, even amidst generally weak crypto sentiment.
• The reset of leverage has enhanced the short-term outlook. Open interest has significantly decreased, funding rates are now negative, and forced liquidations have cleared out congested long positions.
• The bounce from $1.02 indicates that buyers are still active near support; however, the price has not yet reclaimed the levels necessary to shift momentum upward.
• XRP remains below key moving averages, with the 20-day EMA around $1.11, the 50-day at $1.20, the 100-day near $1.31, and the 200-day close to $1.52.
• The 14-day RSI has risen to approximately 33, indicating a reduction in selling pressure, but momentum is still weak and below neutral levels.
• Bollinger Bands have narrowed following June's selloff, suggesting decreased volatility, yet XRP needs to reclaim the mid-band around $1.12 to indicate a stronger recovery.
What traders should watch
• The $1.00 level remains crucial as a support point. A daily close below this mark would bring the $0.90 to $0.85 range back into consideration.
• The $1.0250 to $1.0350 range serves as immediate support after enduring multiple tests during the session.
• The first resistance level is at $1.0460, which capped the 24-hour range.
• The next significant hurdle lies between $1.08 and $1.10, and reclaiming this area is essential for traders to discuss a more robust recovery.
• Until XRP surpasses $1.10 or falls below $1.00, the market will continue to be characterized by support defense with improving network data but lacking a confirmed technical turnaround.
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