XRP rebounds after testing $1.12 support
- XRP (CRYPTO:XRP) briefly fell below a key support level before buyers pushed the token back toward US$1.15.
- Heavy selling volume drove XRP to a session low near US$1.12 before a rapid recovery erased most of the decline.
- Traders remain focused on whether the US$1.10-US$1.30 range signals accumulation or continuation of a broader downtrend.
XRP (CRYPTO:XRP) briefly broke below the closely watched US$1.14 support level on Sunday before buyers stepped in, driving the token from a low near US$1.12 back toward US$1.15.
The move occurred within the same US$1.10-US$1.30 trading range that has contained XRP price action for most of June, with analysts divided on whether the range represents accumulation or a continuation pattern.
“The failure to hold below US$1.13 suggests buyers remain active inside the broader US$1.10-US$1.15 support zone,” according to the market analysis.
XRP declined from US$1.1451 to US$1.1383 during the 24-hour session, with selling accelerating around 21:00 UTC when trading volume surged to 85.8 million XRP and pushed the token to a session low of approximately US$1.1213.
Buyers quickly absorbed the selling pressure and lifted XRP back to around US$1.148, recovering nearly 80% of the decline before momentum faded near resistance between US$1.147 and US$1.149. Following the move the XRP price was down 0.6% at US$1.1383.
The breakdown below US$1.1385 initially appeared significant because it occurred during the session's largest volume spike, but the recovery returned XRP to the middle of its established trading range.
Traders are now watching support between US$1.13 and US$1.14 and resistance near US$1.15, with a sustained move outside the broader US$1.10-US$1.30 range likely to provide the next major directional signal.
At the time of reporting, XRP price was $1.13.
