XRP price remained in focus on Monday, July 6, as buyers tried to protect short-term support while sellers defended higher resistance. The token stayed inside a key decision zone, with analysts watching whether momentum can build or fade after the latest weekly recovery move.
As of writing, XRP is currently trading at $1.13, showing an uptick of 0.25% in a day. The trading volume has gone down by 26.75% and is currently standing at $1.24 billion. Over the last week, the XRP coin price has gone up by 8.46%, according to CoinMarrketCap.
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XRP Price Compression Builds as Bulls Defend Support
Analyst Egrag Crypto noted that XRP is engaged in a two-week candle battle. According to him, the last two biweekly candles showed evident pressure on both parties. The first one had an extensive upper wick on the candle, whereas another candle saw a strong lower wick.
The upper wick showed resistance on higher levels. Egrag mentioned $1.40, $1.65, and the blue macro zone as main resistance levels. Bulls attempted to reach these levels, but sellers were trying to protect them.
According to the analyst, the $1.20 body candle resistance is crucial at this moment. Moving above this level would mean returning control to the bulls. Going above the $1.40 and $1.65 level will mean increasing their strength.
As for the lower part, the buyers defended $1.00 and $1.05 levels. Moreover, Egrag paid attention to the 200 EMA and lower trendline zones as supporting levels. Falling below the $1.05 level should be taken cautiously.
The bearish price forecast would continue below the $0.96 level. According to the analyst, falling below $0.77 – $0.78 means danger. He also referred to this lower price level as the generational buy zone.
XRP Price Rebounds as RSI Cools From Overheated Levels
Moreover, another analyst, Diana, mentioned that the XRP price has quickly bounced back to the level of $1.145 after losing it. The cryptocurrency failed to hold the breakout and rebounded from around $1.18. Buyers have returned and pushed it back above $1.145.
Diana said the four-hour chart showed an important technical reaction. The RSI indicator cooled off from around 80 to the mid-60s. This has reset overheated momentum without invalidating the claim.
Moreover, she stated that XRP needs to hold the $1.145 level to prove the level as support. Breaking through the $1.18 level will invalidate the local high, and the next major resistance will be seen at $1.20.
Open Interest Rises as Futures Volume Slips
CoinGlass data has shown weaker derivatives volume while positioning is stable. The future volume has dropped 30.96% to $1.71 billion. Open interest is up 0.53% to $2.43 billion, with OI-weighted funding rate standing at 0.0049%.
What Happens Next?
The XRP price direction depends on buyers ability to maintain the token above $1.145 and break above $1.18. Any break above this range will bring the $1.20 level back into focus. Losing the $1.145 level might redirect attention to $1.05 and $1.00 levels as support.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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