XRP has attracted renewed buyer interest following one of its sharpest selling waves this year, but the latest rebound is being viewed more as an attempt to stabilize rather than the start of
XRP has attracted renewed buyer interest following one of its sharpest selling waves this year, but the latest rebound is being viewed more as an attempt to stabilize rather than the start of a sustained uptrend. While the token bounced from levels seen prior to its November 2024 breakout, upward moves have repeatedly faced fresh selling pressure. All signs point to XRP now caught between oversold conditions and a broader risk-off sentiment prevailing in the market.
In recent days, more than 25 million XRP have reportedly been withdrawn from exchanges. Such outflows can signal a shift from short-term selling pressure to active accumulation. At the same time, capital inflows to XRP-linked ETF products continued. Approximately $118 million entered these products throughout May, pushing cumulative inflows close to $1.4 billion, highlighting notable institutional interest.
Glossary: An ETF (Exchange Traded Fund) tracks the price of an asset or group of assets and is traded on exchanges. Capital pouring into crypto-related ETFs is seen as a key indicator of sustained institutional interest, even if it does not directly affect spot prices.
With close to $118 million flowing into XRP ETFs in May and cumulative inflows nearing $1.4 billion, the market is showing clear signs of accumulation from lower levels.
Analysts and prediction models now spotlight the $1.10 to $1.20 range as a potential base, following last week’s 17 percent pullback. After rebounding 1.6 percent in the latest trading session from a low near $1.09, XRP traded back up toward $1.14.
Weekly change17 percent dropIntraday recovery1.6 percent riseStabilization zone$1.10 to $1.20Immediate support$1.13 to $1.14First resistance$1.15The strongest rebound was seen at the 22.00 UTC session, with trading volumes spiking to 145.3 million XRP and prices briefly exceeding resistance near $1.1350. However, momentum faded toward the close. XRP slipped from $1.1488 to $1.1386, drawing buyers back in near support areas.
Despite the jump, the broader technical picture shows no clear trend reversal. XRP remains locked in a descending channel, and although the latest recovery relieved short-term downside pressure, the structure of lower highs remains firmly in place.
Rather than marking the start of a new uptrend, price action resembles a market searching for a floor; the latest rebound eased some selling pressure but left the broader bearish formation intact.
The relative strength index (RSI) has fallen to one of its most oversold levels since before the November 2024 rally. While this hints at fading selling momentum, analysts note buying has not yet achieved lasting conviction.
Post-rebound, the $1.13 to $1.14 band stands out as the new primary support zone in the short term. On the upside, $1.15 is both the first major resistance and marks the top edge of the current descending channel. A move above $1.20 would be the first strong indication that XRP is beginning to recover from the recent wave of selling.
Conversely, a renewed break below $1.10 could shift market focus toward the psychologically significant $1.00 mark. Although underlying accumulation signals persist, current pricing suggests the market has yet to carve out a clear directional shift.
The post XRP plunges 17 percent in just one week! What does the recent accumulation trend mean? appeared first on COINTURK NEWS.
