XRP Breaks Above $1.14 Resistance Amid Significant Trading Volume
XRP experiences a 3% rise after breaking above the critical $1.14 resistance level, with trading volume reportedly 207% above its average, according to CoinDesk. Sellers did push back near $1.16, leading to a test of whether the breakout can establish lasting support.
XRP rallied approximately 3%, breaking above the key $1.14 resistance level, aided by heavy trading volume. This movement peaked at $1.158 before a pullback brought the price down to around $1.146, prompting traders to evaluate if this former resistance can now hold as support.
The breakout occurred on July 5, with volumes reaching 81.89 million XRP, indicating strong buying interest. However, sellers emerged near $1.16, suggesting a battle for control as traders await confirmation of support levels at $1.1400-$1.145. This comes despite a ninth consecutive week of net inflows into XRP spot exchange-traded funds (ETFs), totaling $17.19 million, as reported by CoinDesk.
Data from Santiment revealed concerning metrics, with XRP's 30-day and 365-day Market Value to Realized Value (MVRV) at approximately -45% and -47%, indicating that many holders are currently operating at a loss. Traders are closely monitoring the $1.1400–$1.145 zone as a key support area critical for maintaining bullish momentum.
Market Context and Future Considerations
While XRP's clearing of $1.14 represents a favorable technical development, sellers remain active, hindering a move towards higher resistance levels, particularly the $1.17−$1.20 zone. Analysts noted constructive short-term structures, including bullish divergence and a potential Elliott Wave advance, although the broader short-term outlook remains contingent on XRP holding above the recent breakout level.
The absence of further gains above $1.155 leaves the market in a precarious position, functioning as a breakout-test rather than confirming a sustained upward trend. Should XRP decisively fall below $1.145, attention would shift back to lower support levels around $1.142 and $1.133.
What to Watch Moving Forward
- Key support level at $1.1400–$1.145 that must hold to sustain bullish momentum.
- Watch for resistance at $1.155, as failure to reclaim this area may lead to a reversal.
- The next significant resistance zone lies between $1.17 and $1.20, essential for price continuation.
- A surge past $1.20 could redirect focus toward previous breakdown levels near $1.29 and $1.30.
Summary based on original reporting by Shaurya Malwa at CoinDesk, originally published Jul 6, 2026. SolanaWire does not republish source content.
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