XRP steadies above $1.10 after sharp selloff

XRP has rebounded from four-month lows after buyers stepped in around the $1.09 level, helping the token recover from one of its steepest declines of the year while broader market sentiment remains fragile.

The cryptocurrency gained roughly 1.6% during the latest session, climbing back towards $1.14 after a surge in trading activity pushed prices through resistance near $1.1350 during late trading hours.

Despite the recovery, XRP remains trapped within a descending channel that has defined its price action since the recent selloff, with the broader pattern of lower highs still intact.

Market data shows that more than 25 million XRP has left exchanges in recent days, extending a trend often associated with investor accumulation rather than imminent selling pressure.

Institutional demand has also remained relatively resilient, with XRP-linked exchange-traded products attracting approximately $118 million in inflows during May and cumulative inflows nearing $1.4 billion.

Technical indicators suggest selling momentum may be easing, with the relative strength index falling to one of its most oversold levels since before XRP's November 2024 rally, potentially signalling exhaustion among sellers.

Traders are now focused on support between $1.13 and $1.14 and resistance near $1.15, while a decisive move above $1.20 could indicate improving sentiment, whereas another break below $1.10 may increase the likelihood of a test of the psychologically important $1.00 level.

At the time of reporting, XRP price was $1.14.