📉 Although spot investors have recently taken the lead, it might not be enough for XRP to sustain its upward momentum and break the crucial $2.3 resistance level.
🔹 Daily chart still reveals a bearish structure.
Despite several positive signals, XRP’s market structure on the daily timeframe remains bearish. Technical indicators show that buyers are gaining ground, but a major breakout has yet to occur.
🔹 Exchange outflows ease, but accumulation continues.
On June 5, XRP saw moderate capital outflows from exchanges. While May had stronger outflows, the trend has slowed in June. This suggests that investors may still be accumulating tokens off-exchange in anticipation of future price appreciation.
🔹 Falling NVT ratio may indicate undervaluation.
The drop in the Network Value to Transactions (NVT) ratio implies that XRP might be undervalued – especially given the increased network activity and utility compared to its market cap.
Technical barriers remain
🔹 The $2.3 zone remains a strong resistance.
This level overlaps with the $2.28 mark, which corresponds to the 38.2% Fibonacci retracement from the decline between $3.4 and $1.61. This zone may become the battleground between bulls and bears.
🔹 Indicators show mild bullish signals.
The daily RSI recently moved above the neutral 50 line, reaching 50.8 – a weak but encouraging sign. Still, the price structure remains influenced by bearish momentum, especially after the failed attempt to break above $2.6.
🔹 OBV paints a mixed picture.
The On-Balance Volume (OBV) has been moving sideways since April and hasn’t surpassed the March highs. On the positive side, it has formed higher lows over the past two months, suggesting growing buying interest.
Liquidity map points to a crucial zone
🔹 Strong liquidity cluster between $2.29–$2.36.
A two-week liquidation map highlights a dense liquidity area within this range – suggesting that XRP could be heading there next. This would likely attract traders targeting these levels.
🔹 Reversal possible after reaching this zone.
If XRP climbs into the $2.35–$2.4 region, a bearish reversal could follow. Once liquidity is cleared, a pullback might catch many traders off guard. While buying pressure is present, it’s not yet strong enough to push the price back toward range highs.
Summary
For now, XRP doesn’t seem ready for a breakout rally. However, the metrics reflect ongoing accumulation and improving sentiment. The $2.3 level remains the key point to watch – whether XRP can hold above it will likely determine the next move.
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