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XRP rises 3% as $1.14 breakout turns into support test
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- DeepHorus
XRP rose 3% on July 5 as it briefly broke through the key $1.14 resistance level on heavy volume, but sellers quickly pushed the token back, turning the session into a test of whether former resistance can now hold as support. The cryptocurrency climbed from $1.1344 to $1.1454 over the 24-hour period, reaching an intraday high of $1.158 before pulling back to around $1.146. This price action has left traders watching closely to see if the breakout can sustain or if the move will falter.
The breakout occurred at 22:00 UTC on July 5, when trading volume surged to 81.89 million XRP, approximately 207% above the 24-hour average. This heavy volume drove XRP from $1.1356 to $1.1594 in two hours, clearing the $1.1400 resistance that had capped previous attempts. However, sellers emerged near $1.158, forcing a pullback that broke the short-term $1.150 support level and returned XRP to a tighter range between $1.145 and $1.151.
This price action comes amid a backdrop of mixed fundamentals. XRP spot ETFs recorded a ninth consecutive week of net inflows, adding $17.19 million despite broader market uncertainty. However, regulatory catalysts have been delayed, as the CLARITY Act missed its expected timeline after the Senate adjourned for recess without a floor vote. Furthermore, Santiment data showed that most holders remain underwater, with XRP’s 30-day MVRV near -45% and 365-day MVRV near -47%.
Despite the pullback, several analysts have pointed to improving technical structures, including a 4-hour downtrend break, bullish divergence, and a possible Elliott Wave advance. The key development is that XRP cleared $1.1400 on strong volume, turning that level into the first support area to watch. The pullback from $1.158 does not erase the breakout, but it shows sellers remain active before the $1.17-$1.20 resistance zone.
The broader short-term structure remains constructive as long as XRP holds above the breakout area near $1.14. A decisive loss of $1.145 would weaken the move and shift focus back toward $1.142 and then $1.133. On the upside, $1.155 is the first resistance level after repeated failed reclaim attempts, and $1.17-$1.20 is the next major zone bulls need to clear for continuation.
Traders are watching key levels to determine whether the move becomes a sustained uptrend. The support zone of $1.1400-$1.145 is critical, while resistance at $1.155 and $1.17-$1.20 will need to be overcome for further gains. A break above $1.20 would shift attention toward $1.29-$1.30, where prior breakdown levels sit. Until XRP clears $1.155 and then $1.17, the market remains a breakout-test setup rather than a confirmed trend move.
