South Korea · CoinDesk
XRP rockets 8% above $1.20 in first major breakout since June selloff
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XRP spent the past two weeks trying to stop going down.
Key facts
- XRP climbed from $1.1425 to $1.2307 during the session, gaining roughly 8%
- Buying accelerated through the $1.18 and $1.20 levels before XRP reached session highs near $1.23
- The breakout began during the June 14 21:00 UTC session, when volume surged to 107.6 million XRP and drove price through resistance near $1.14
- Several analysts pointed to bullish RSI divergences and completed correction structures following XRP's rebound from the $1.05-$1.09 support zone
Summary
Growing XRP demand from Asia, led by South Korea’s Upbit, and continued inflows into XRP ETF products totaling about $1.4 billion are underpinning the latest rally. Traders are watching whether XRP can hold above $1.20 and challenge resistance near $1.27 to $1.30, with a drop back below $1.18 likely to be seen as another oversold bounce. The token pushed through $1.14, then $1.18, and finally reclaimed $1.20 on the strongest volume since the early-June washout, forcing traders to reassess a market that had been priced for further weakness. The move came as XRP-specific activity accelerated, with South Korea's Upbit exchange accounting for a growing share of network flows and institutional demand continuing to build through ETF products. • Ripple ecosystem activity picked up as traders focused on growing XRP demand across Asia, with Upbit accounting for 31% of XRP wallet-flow dominance by June 14, up from 13% a week earlier.