XRP is trading near $1.10 after extending recent losses with declining trading volume and falling active addresses. Despite whales accumulating around 70 million XRP tokens recently, the price remains stuck below the $1.20 resistance zone.
Market Data and Price Pressure
On-chain metrics from Glassnode reveal that active XRP addresses have decreased to about 20,000, the lowest level observed in nearly a year. This reduction indicates less user engagement with the XRP Ledger and coincides with weakened trading volume, making a strong price rebound unlikely without new buying interest.
The Chaikin Money Flow indicator stands at -0.13, signaling that capital is still flowing out of the market rather than in. Crypto analytics highlight a critical short-term resistance level around $1.13, which, if decisively broken, could pave the way for upward momentum. However, XRP recently broke out of a descending wedge on the 4-hour chart yet has encountered resistance between $1.18 and $1.23. To shift the short-term trend bullish, XRP must close above $1.29 on a 4-hour chart.
Derivatives and Whale Activity
Derivatives data from CoinGlass shows balanced funding rates near zero, indicating no clear advantage for bulls or bears. This balance reduces the likelihood of a significant short or long squeeze in the near term. Liquidity clusters reveal $102.2 million in cumulative short liquidation use around $1.202 and $61.17 million in long use near $1.02, suggesting price may gravitate toward these zones before making a decisive move.
Top Binance traders maintain a long-biased stance with a long-to-short ratio of 3.44, complemented by whale purchases totaling 70 million XRP tokens around mid-July. Despite this buying pressure, the token has yet to breach the key $1.20 supply barrier.
If the price falls below the $1 support level, attention will shift to the next area of price support. The ongoing struggle around these technical zones reflects the current market indecision for XRP.
Material is informational and not financial advice.
