XRP Price Struggles to Break Through $1.12 Resistance
XRP's price has been stuck in a trading range between $1.05 and $1.10, as buyers defend lower levels while sellers limit upward moves.
The token briefly reached $1.10 before selling pressure pushed it back down, matching the broader pullback across the crypto market. Bitcoin dropped 1.26%, while the total crypto market value fell about 1.1% over the past 24 hours.
Whale transfers have fallen sharply, reducing selling pressure as fewer tokens reach trading platforms. However, this also indicates weak demand from investors who usually influence larger market moves.
ETF inflows have provided some support, with US spot XRP exchange-traded funds recording $584,000 in net inflows on July 29 and roughly $6 million the next day. Institutional activity has also increased, with Aviva Investors planning to issue a tokenized share class of its USD Liquidity Fund on the XRP Ledger.
For XRP to break through the current range, stronger buying activity is needed, particularly above the $1.12 resistance level.