XRP Forms Higher Low as Rising Volume Challenges $1.1087 Resistance » CoinEagle
Key Points
- XRP forms higher lows above $1 while testing $1.10 resistance.
- Rising wallet growth and sentiment accompany increased trading volume.
XRP rose from $1.0611 to $1.0894 on July 3, gaining 0.62% as buyers defended a sequence of higher lows at $1.0552, $1.0589, and $1.0799.
The token advanced toward the $1.10–$1.1087 resistance range, a zone that has limited upside attempts in recent weeks.
The move reflects the early formation of a higher-base structure above $1, marking a shift from the prior defensive price action.
However, confirmation of this constructive setup depends on a decisive close above the $1.10 level.
Price Action and Resistance Levels
Trading volume expanded during the advance rather than on pullbacks, indicating that buyers drove the session’s momentum.
Total volume measured 26.92% above the seven-day average, peaking at 117.5 million XRP at 13:00 UTC, roughly 142% above the 24-hour mean.
Selling pressure emerged near $1.10, after which price consolidated between $1.08 and $1.09 on lighter turnover.
Immediate support stands at $1.08, while a breakdown could bring $1.0611 back into focus as a structural test.
A sustained break above $1.10 would expose the $1.12–$1.13 range and potentially shift the broader short-term outlook.
On-Chain Activity and Market Participation
New wallet creation climbed to 4,941 addresses on July 3, marking the strongest daily increase in 14 weeks.
Such growth during consolidation phases is generally associated with user onboarding rather than short-term speculative reshuffling.
Bullish social sentiment reached a three-month high, with positive commentary outnumbering bearish views by a ratio of 3.7 to 1.
The combined rise in address growth and volume provides additional context to recent price strength beyond spot performance alone.
During the same session, Ripple unlocked 1 billion XRP from escrow without triggering notable volatility, indicating the event had likely been priced in.
Analysts also observed that XRP’s variance relative to the CD5 index remained below levels typically linked to asset-specific catalysts, suggesting the move aligned with the broader crypto market trend.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Wall Street giants collectively raise rate hike forecasts, US Treasury futures continue to fall, gold drops over 1% to break 4000
After the US October CPI exceeded expectations, Goldman Sachs and Nomura added a forecast for an interest rate hike in March next year, while Deutsche Bank included a forecast for a rate hike in January next year. Currently, the market has fully priced in a 25 basis point rate hike in December, with a 13% probability for a 50 basis point hike. On Wednesday, the US Treasury spot market was closed, but Treasury futures continued to fall, with corresponding yields rising by about 2 to 4 basis points, and spot gold came under pressure, dropping by 1.1%.
No Need to Worry About the Cooling Down of AI Data Center Construction? The US Import Boom Is Unlikely to Subside in the Short Term, Real Impact May Come in 2029
It takes an average of 4.8 years from finalizing investment to starting construction of a data center project, and an additional 2.6 years from construction start to becoming operational. Servers usually cannot be installed until after the building structure and racks are completed. For trade partners such as Taiwan (China), South Korea, and Mexico who rely on US data center supply chain demand, the inertia in construction timelines provides at least a one- to two-year buffer for future exports.
Federal Reserve Major Debate: When Should the Tenure of “Number Three” Williams End?
The main point of contention is whether Williams should step down in June 2028, upon completing a full 10-year term, or in June 2027, when he reaches the mandatory retirement age of 65. Analysts point out that the Federal Reserve Board holds ultimate discretion; if he leaves early, Fed Chair Waller would be able to assert greater control over the appointment to this critical position. However, forcing Williams to shorten his term could easily be interpreted as political manipulation. Williams himself is expected to serve until June 2028.
Crypto prices
More
