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 rebound needs a clear break above $1.14 to confirm stronger short-term momentum for bulls.
- ETF inflows remain positive, but CLARITY delays have removed a near-term policy catalyst for XRP.
- Spot CVD has improved across exchanges while Binance perpetual traders keep selling into rebounds.
The token moved between $1.11 and $1.16 during the session, while trading volume stood at about $1.73 billion.
The rebound from the late-June low near $1.00 remains intact, but buyers have not yet turned it into a stronger breakout. the token pushed back toward the $1.14 to $1.18 zone, but it failed to hold the upper part of that range.
The price now sits near a short-term decision area. A close above $1.14 would show that buyers are gaining control. A clean move above $1.18 to $1.20 would give bulls a stronger signal and place the next resistance levels back in focus.
The downside level is also clear. If XRP loses $1.10, the current rebound would weaken. A move below that area could expose $1.06, which some traders now see as the next retest zone.
XRP ETF inflows help, but policy catalyst slips
The recovery has come while XRP-linked investment products continue to attract demand. The latest background data showed spot XRP ETFs recorded a ninth straight week of net inflows, adding $17.19 million despite broader policy uncertainty.
Those inflows have helped support the market, but they have not been enough to break the larger downtrend. As previously reported, XRP ETFs gave investors regulated access, but they did not solve the wider legal question around XRP’s status under U.S. law.
The CLARITY Act remains the main policy catalyst for many traders. The bill missed its July 4 target and now faces an Aug. 7 deadline before the Senate’s summer break.
That delay removed a near-term trigger for digital assets. The bill has passed the House, cleared the Senate Banking Committee, and sits on the Senate calendar, but staff still need to merge Banking and Agriculture versions before a full Senate vote.
Moreover, Standard Chartered has said XRP ETFs could attract $4 billion to $8 billion in first-year inflows if CLARITY passes. That forecast depends on legal clarity unlocking larger institutional demand.
Technical setup stays mixed
The XRP/USDT daily chart shows price recovering from the late-June low, but the broader trend remains weak after the June breakdown. 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 matches the area traders are watching for a stronger breakout. Until the token closes above that zone, the move remains a rebound inside a weak structure rather than a confirmed trend shift.
The lower Bollinger Band sits near $1.01. That level remains important if selling pressure returns. A break below $1.10 would increase the risk of a move back toward that area.
Momentum also shows a mixed picture. The Stochastic RSI is elevated, with readings near 88.63 and 95.08. That shows strong short-term momentum, but it also places XRP close to overbought territory. Since the faster line has moved below the slower line, the rebound may be losing some force.
EGRAG Crypto said XRP must defend $1.10 after moving below the 21 EMA on the four-hour chart. He said, “Hold $1.10 = structure still alive,” while a loss of $1.06 would increase caution.
Dark Defender took a more bullish weekly view and said XRP is “launching the Wave 5 without the Clarity Act.” Other analysts also pointed to higher long-term targets, but those views still depend on price clearing the current resistance zone first.
Spot demand rises while perps stay defensive
On-chain and derivatives data show a split market. CryptoQuant analyst Amr Taha said XRP’s estimated spot CVD across centralized exchanges rose from about minus $42 million on May 12 to plus $406 million by July 7.
That change points to stronger spot buying across exchanges. It suggests market buyers have absorbed more available XRP supply over the past two months.
The derivatives market shows the opposite trend. Binance perpetual CVD fell from about minus $48 million to minus $783 million over the same period. That shows sustained sell-side pressure from perpetual traders.
Open interest also fell from about $255 million on May 22 to $203 million on July 7. That drop suggests leveraged traders have reduced exposure while spot buyers have become more active.
Binance spot data has improved, but it has not turned positive. Estimated spot CVD on Binance rose from about minus $212 million on June 25 to minus $173 million on July 7, showing that selling pressure has eased but not fully reversed.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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