XRP (XRP) clawed back above $1.10 on Monday after sliding to four-month lows, though sellers kept capping each attempt at a durable rebound.
Key Points:
- XRP recovered from four-month lows to trade near $1.14, gaining 1.6% over the session.
- More than 25 million tokens left exchanges, while ETF products absorbed roughly $118 million in May.
- Weekly momentum sank to its most oversold reading since before the November 2024 rally.
XRP Defends $1.10 Support
The token bounced from its weakest levels in four months early Monday, with buyers stepping in to guard the $1.09 area. Data showed XRP adding 1.6% on the session as it climbed back toward $1.14.
The sharpest push came during the 22:00 UTC window. Volume jumped to 145.3 million tokens and carried price through resistance near $1.1350. Momentum then cooled, and XRP slipped from $1.1488 to $1.1386 before support held.
Beneath the price, the flows tell a quieter story.
More than 25 million XRP left exchanges in recent days, a pattern that often points to accumulation rather than fresh selling. ETF products tied to the token drew roughly $118 million in May, lifting cumulative inflows close to $1.4 billion.
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Loukas Flags Rebound Risk
Trader Bob Loukas warned that a technical rebound looks all but certain after such a steep drawdown. He added, though, that XRP and other large caps could shed another leg before the year ends. His caution mirrors a market that keeps fading every rally.
The RSI lends weight to the rebound case. On the weekly chart, the gauge has reached one of its most oversold readings since before the November 2024 rally.
Even so, markets can stay oversold far longer than traders expect.
The bounce caps a brutal stretch for the token. XRP has shed roughly 17% over the past month, breaking below $1.30 in early June before grinding toward its recent lows. Every push higher since has run into fresh selling, leaving the asset boxed inside a descending channel.
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