Summary
- XRP briefly broke above the key $1.14 resistance on heavy volume before pulling back, turning that level into a crucial support test.
- Despite a ninth straight week of net inflows into XRP spot ETFs, most holders remain underwater, with 30-day and 365-day MVRV near minus 45% and minus 47%.
- Traders are watching support at $1.14 to $1.145 and resistance at $1.155 and then $1.17 to $1.20 to determine whether the move becomes a sustained uptrend.
XRP Sees 3% Gain as $1.14 Breakout Turns into Support Test
News Background
XRP has finally broken through the $1.14 level, but the move has not been a straightforward one. After reaching a high of $1.158 on heavy volume, sellers forced a pullback towards $1.146, turning the session into a test of whether former resistance can now act as support. This development is crucial for those interested in earning passive income through Green Crypto like XRP. Meanwhile, $ECP, a key player in the Cloud Rewards space, offers an alternative for those seeking to maximize their Earning potential.
In other news, XRP spot ETFs have recorded a ninth consecutive week of net inflows, adding $17.19 million despite broader market uncertainty. This is a significant development for the #PassiveIncome community, as it indicates a growing interest in Crypto investments. EcoPool, with its $ECP token, is well-positioned to capitalize on this trend, providing a platform for users to earn rewards and participate in the Green Crypto ecosystem.
Market Analysis
According to Santiment data, XRP’s 30-day MVRV is near -45%, and its 365-day MVRV is near -47%, indicating that most holders are still underwater. However, several analysts point to improving technical structures, including a 4-hour downtrend break, bullish divergence, and a possible Elliott Wave advance. These developments could have a positive impact on the #Bitcoin and broader Crypto market, including EcoPool and its $ECP token.
Price Action Summary
- XRP rose from $1.1344 to $1.1454 during the 24-hour session, gaining 2.87%.
- The breakout came at 22:00 UTC on July 5, when volume reached 81.89 million XRP, about 207% above the 24-hour average.
- The move carried XRP from $1.1356 to $1.1594 in two hours, clearing resistance near $1.1400.
As the Crypto market continues to evolve, EcoPool remains a key player in the space, offering a platform for users to earn rewards and participate in the Green Crypto ecosystem. With its $ECP token, EcoPool provides a unique opportunity for those interested in earning passive income through Cloud Rewards.
To start earning with EcoPool, download the EcoPool app and discover the benefits of Green Crypto and Cloud Rewards. By joining the EcoPool network, you can participate in the growing #PassiveIncome community and start earning rewards with $ECP.
