XRP recovered from a late-June low near $1.00 to above $1.15, with support confirmed at $1.03. The rebound coincided with a 62% surge in trading volume within 24 hours to $1.8 billion and a roughly 20% decline in Binance XRP reserves since November 2024. Short position liquidations between June 26 and 28, indicated by deeply negative funding rates, contributed to the initial price rally. The recovery occurs as the XRP Binance Scarcity Index reached 0.77 this week — its highest reading in more than two years — while net inflows to XRP spot ETF dropped 55% from $132 million in May to $59 million in June.
XRP Price Recovery from $1.00 to Above $1.15
XRP's rebound from the $1.00–$1.04 floor registered in late June represents one of the sharper reversals the token has seen in recent months. After trading above $1.55 in February, the token endured a sustained decline that, by late June, had delivered what analysts described as the most significant holder drawdown in over a decade.
The $1.03 level proved consequential. Once buyers stepped in around that price band, XRP clawed back roughly 8%, reclaiming ground above $1.15 — a zone that had previously acted as support before June's selloff began. Observers at ChartNerd flagged the move on X, characterizing it as XRP's "3rd Retest" — a formation they described as "a gift" for position builders watching for a defined entry point.
Trading Volume Surged 62% to $1.8 Billion
Trading volume surged approximately 62% within a single 24-hour window, reaching $1.8 billion. That kind of acceleration following a period of compressed, subdued activity typically reflects genuine market re-engagement rather than noise.
XRP volume on South Korea's Upbit recently exceeded Bitcoin's volume on that platform — an unusual occurrence that signals elevated retail engagement in one of crypto's most active regional markets.
XRP Spot ETF Inflows Dropped 55% Month-Over-Month
Net inflows to XRP-linked spot exchange-traded funds fell sharply between May and June. Inflows dropped from $132 million in May to just $59 million in June — a 55% month-over-month contraction. The timing is notable: institutional appetite through the regulated ETF wrapper appeared to cool precisely as the token was approaching its lows, rather than stepping in to absorb the dip.
Binance XRP Reserves Fell 20% Since November 2024
Binance's XRP reserves have declined roughly 20% since November 2024, falling from approximately 3.27 billion tokens to around 2.6 billion — with a notable drop from about 2.8 billion in May to 2.6 billion by early July.
CryptoQuant researcher ArabxChain tracked this shift through the XRP Binance Scarcity Index, which climbed to 0.77 this week — its highest reading in more than two years. The index measures how available XRP is on Binance relative to historical benchmarks. A rising reading means less XRP is sitting on the exchange available for sale, which structurally tightens the supply side of the order book.
Short Position Liquidations Occurred Between June 26 and 28
Futures data from Coinglass shows that funding rates plunged into deeply negative territory between June 26 and 28 — precisely when the price was bottoming. That kind of extreme negative funding signals a heavy crowding of short positions, creating the conditions for a forced unwind.
The subsequent rally to $1.13 appears consistent with that short squeeze dynamic rather than fresh demand entering the market. Funding rates have since normalized to slightly positive territory, which is actually a healthier sign: it means the market is no longer leaning heavily to one side.
Immediate Resistance at $1.20 with Bullish Targets at $1.50
With the short squeeze phase likely behind it, XRP now faces a more straightforward technical challenge. Immediate resistance sits at $1.20 — a level that capped the mid-June recovery attempt. A confirmed daily close above that zone would open the door to the $1.35–$1.40 region, representing roughly 22% upside from current levels.
Beyond that, the 200-day Exponential Moving Average at $1.50 stands as the primary bullish objective if momentum builds. The daily Relative Strength Index near 55 leaves meaningful room before overbought readings become a concern, suggesting the technical setup does not yet look stretched.
On the downside, a breakdown below $1.00 would invalidate the current recovery framework entirely — making that level the clearest line in the sand for traders positioning around this move.
FAQ
What price level did XRP recover to recently?
XRP recovered to above $1.15 after forming support at $1.03, bouncing from a late-June low in the $1.00–$1.04 range.
How did trading volume change during XRP's recent recovery?
Trading volume surged approximately 62% within a 24-hour window to reach $1.8 billion, indicating a significant uptick in market participation during the rebound.
What happened to Binance XRP reserves since November 2024?
Binance's XRP reserves declined roughly 20% since November 2024, falling from approximately 3.27 billion tokens to around 2.6 billion by early July. The XRP Binance Scarcity Index reached 0.77 this week — its highest reading in more than two years.
