XRP trades above $1.13 as open interest rises and ETF inflows top $59.4 million in June

XRP has regained the $1.13 price level, becoming the focus of short-term market direction after a period of volatility. The token rose nearly 4% in 24 hours to hover around $1.145, with spot trading volume at $477.5 million and derivatives volume surpassing $2.19 billion. Open interest remains elevated at $2.54 billion, highlighting an ongoing appetite for leveraged positions and persistent volatility risk.

Key resistance emerges at $1.29 on technical charts

XRP’s latest recovery attempt follows months of bearish pressure and is seen as a potential turning point on the charts. For buyers to confirm a forming double bottom pattern, the price must establish itself clearly above the neckline in the $1.28–$1.29 range. Until this level is convincingly broken, any upward movement could still be part of a broader downward trend.

After losing support at $1.28–$1.30 at the end of May, XRP fell to $1.05 in early June amid a spike in trading volume that signaled strong selling pressure. The second dip formed on June 26 at $1.0092. Although the price briefly dropped below the previous low, this move did not hold, raising the possibility of a technical bear trap.

Volume data reinforces this perspective: compared with the sharp sell-off at the start of June, the intensity of selling during the second retreat was more contained. In technical analysis, such divergences can indicate a gradual shift in control from sellers to buyers. If XRP rises decisively above the neckline, the double bottom pattern could target a move toward $1.57.

Immediately ahead, the $1.17–$1.18 zone acts as the first resistance, coinciding with the 44-day moving average and suggesting a cluster of selling interest, as also indicated by Fibonacci levels. On-chain holding data implies that significant XRP holdings concentrated between $1.18 and $1.22 might slow further gains.

ETF inflows and regulatory developments shape the outlook

ETP products tied to XRP drew $59.4 million in inflows during June, marking the third consecutive month of gains, according to SoSoValue data. This comes at a time when Bitcoin and Ether funds are experiencing more pronounced outflows, highlighting comparatively strong investor interest in XRP. While ongoing ETF demand could gradually reduce circulating supply, daily inflows alone may not sustain price momentum in the short term.

Glossary: SoSoValue is a market tracking platform that aggregates data on crypto asset funds and ETF flows. Open interest refers to the total size of outstanding contracts in futures trading and, when high, may increase price volatility.

On the regulatory front, discussions around the Clarity Act are being closely watched. The Major County Sheriffs of America shifted their stance to neutral on the bill after some concerns about Section 604 were partially addressed. This section is linked to the Blockchain Regulatory Certainty Act and aims to offer protections for developers who do not provide custody services.

The organization’s continued focus on state and local enforcement resources underlines the ongoing importance of the legislation for the crypto sector. In the near term, XRP’s support zone is closely watched in the $1.00–$1.13 range. A decisive breakout above the neckline could bring $1.40 and then $1.88 into play as resistance levels. Meanwhile, longer-term projections highlight $3.27, $8.17, and $17.16 as potential upside targets, though achieving these would require XRP to break and hold above its most recent highs.

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