XRP held above $1.08, faces resistance at $1.10 after strong trading volume

Following last week’s wave of selling, XRP is attempting to establish a higher price floor above the $1 mark. Throughout US trading hours, the cryptocurrency steadily climbed, defending the $1.08 level multiple times before edging closer to $1.10. However, renewed selling pressure emerged in this region. While short-term market signals remain constructive, resolution into a definitive breakout has not yet materialized.

1.08 emerges as a pivotal support in price action

Over the past 24 hours, XRP rose from $1.0611 to $1.0894, marking a modest intraday gain of 0.62%. The formation of higher lows at $1.0552, $1.0589, and $1.0799 highlighted buyers stepping in at increasingly elevated levels during every pullback. This structure signals a market recovery after weeks of defensive price movement on the short-term charts.

Trading volumes accompanied this upward movement. Volume exceeded its seven-day average by 26.92%. The strongest buying wave appeared at 13:00 UTC, with volume surging to 117.5 million XRP—about 142% above the 24-hour average. This volume increase during rallies, rather than sell-offs, indicates robust interest on the buy side.

Price faces persistent resistance at $1.10

XRP’s latest upward push stalled around $1.1087, revealing that sellers continue to defend the immediate resistance area above spot price. Following this rejection, XRP entered a sideways range, trading between $1.08 and $1.09 on lighter volumes.

In the near term, the primary threshold watched by the market is the $1.10-$1.12 band. Unless XRP can break and sustain above this zone, the price action is viewed as a process of establishing a higher base, rather than confirming a decisive breakout. Thus, maintaining support at $1.08 remains crucial. If this level fails, $1.0611 will become the next area to watch below.

On-chain and social indicators show improvement

Network data also point to a more optimistic outlook. The number of new daily XRP wallets rose to 4,941, marking the largest single-day increase in the past 14 weeks. Positive-to-negative sentiment on social media reached a three-month high of 3.7 to one, reflecting a notable upswing in investor confidence.

Ripple’s scheduled unlock of 1 billion XRP from escrow did not cause a significant shock in the market. XRP’s price movement remained broadly in line with the general crypto market, suggesting that broader trends, rather than asset-specific catalysts, are shaping the current price action. Ripple, recognized as a US-based tech company, continues to develop payment solutions around the XRP Ledger ecosystem.

The recent consolidation in XRP price suggests traders are waiting for clearer signals of momentum before driving the price in a new direction. The ability to hold key support and expand trading volume has been taken as a modestly positive sign by market participants.

Despite steady improvement in both technical levels and sentiment metrics, a sustained move above resistance continues to elude XRP. The coming days may prove decisive for whether the cryptocurrency can break its current range or see selling pressure return.

Traders are closely monitoring XRP’s ability to hold its new floor, particularly amid broader fluctuations in the crypto markets. The $1.08 and $1.10 thresholds could determine whether the bullish momentum continues or a reversal sets in.

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