XRP traded near $1.13 on July 7, down 1.69% in the past 24 hours, according to crypto.news market data.
Summary
- XRP’s rally needs a clear break above $1.14 to confirm strong short-term bullish momentum.
- ETF inflows remain positive, but CLARITY’s delay removed the catalyst for XRP’s near-term policy.
- Spot CVD has advanced on all exchanges while Binance’s non-stop traders continue to sell on rebounds.
The token moved between $1.11 and $1.16 during the session, while the trading volume stood at around $1.73 billion.
The rebound from the late June low near $1.00 remains intact, but buyers have yet to convert it into a strong breakout. the mark pulled back to the $1.14 to $1.18 range, but failed to hold the upper half of that range.
The price is now sitting near the short-term decision area. A close above $1.14 would indicate that buyers are gaining control. A clean move above $1.18 to $1.20 would give the bulls a strong signal and bring the next resistance levels back into focus.
The bottom line is also clear. If XRP loses $1.10, the current rally will weaken. A move below that area would reveal $1.06, which some traders now see as the next retest point.
Incoming help for XRP ETF, but catalyst policy is smooth
The recovery comes as XRP-linked investment products continue to attract demand. Recent background data showed spot XRP ETFs recorded a ninth straight week of net inflows, adding $17.19 million despite broader policy uncertainty.
That entry helped support the market, but it wasn’t enough to break a major downtrend. As previously reported, XRP ETFs provided investors with regulated access, but did not resolve the broader legal question of XRP’s status under US law.
The CLARITY Act remains a policy trigger for many retailers. The bill missed its July 4 deadline and now faces an August 7 deadline before the Senate’s summer recess.
That delay removed the near-term trigger for digital assets. The bill has passed the House, cleared the Senate Banking Committee, and remains on the Senate calendar, but staff still needs to put together the Banking and Agriculture versions before a full Senate vote.
In addition, Standard Chartered said XRP ETFs could attract $4 billion to $8 billion in first-year revenue if CLARITY passes. That forecast depends on official clarifications that open up a major demand for the facility.
The technical setup remains mixed
The daily chart of XRP/USDT shows price stabilization since late June, but the broader trend remains weak after June’s collapse. The token is trading above the middle Bollinger Band near $1.10, which keeps the short-term rebound alive.
The upper Bollinger Band sits near $1.18. That’s like local retailers looking for a strong exit. Until the token closes above that zone, the move remains repetitive within a weak structure rather than a confirmed trend change.
The lower Bollinger Band sits near $1.01. That level remains important when selling pressure returns. A break below $1.10 would increase the risk of a pullback to that area.
Momentum also presents a mixed picture. Stochastic RSI is up, with readings near 88.63 and 95.08. That shows strong short-term momentum, but also puts XRP near overbought territory. Since the fast line has moved below the slow line, the repetition may have lost some power.
EGRAG Crypto said XRP should defend $1.10 after moving below the 21 EMA on the four-hour chart. He said, “Hold $1.10 = the structure is still alive,” while a loss of $1.06 will increase caution.
Dark Defender took a better view of the week and said that XRP is “launching Wave 5 without the Clarity Act.” Some analysts have also pointed to higher long-term targets, but that view still depends on the price clearing the current resistance area first.
The demand for spots increases while the perps stay on the defensive
On-chain data and derivatives reflect a different market. CryptoQuant analyst Amr Taha said that the estimated CVD area of XRP across all central markets increased from about $42 million on May 12 to $406 million on July 7.
That change points to strong buying in all markets. It suggests that market buyers have found more XRP supply available in the last two months.
The derivatives market shows the opposite trend. Binance perpetual CVD fell from about $48 million to $783 million during the same period. That shows continued selling pressure from perennial sellers.
Open interest also fell from $255 million on May 22 to $203 million on July 7. That decline suggests that active traders reduced exposure while local buyers became more active.
Binance’s local data improved, but it wasn’t great. The average CVD spot on Binance rose from about $212 million on June 25 to $173 million on July 7, indicating that the selling pressure has eased but not completely changed.
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only.
