XRP tests $1.13 breakout level amid broader CEX volume recovery
XRP's 4.6% rally to test a key $1.13 resistance level coincides with the first rise in centralized exchange trading volumes in five months, though the token faces a larger structural ceiling.
XRP gained 4.6% over 24 hours to trade near $1.13, testing a closely watched short-term resistance level that analysts suggest could trigger a 20% price advance. The token’s 24-hour range stretched from $1.08 to $1.14, lifting its market capitalization to approximately $70.85 billion. Trading volume reached $1.27 billion during the session, confirming increased participation during the morning breakout attempt.
This momentum aligns with a wider rebound in digital asset market liquidity. After a prolonged slump, centralized exchange trading volumes rose in June for the first time in five months. Spot trading climbed 15.3% to reach $1.11 trillion, while perpetual volumes tied to real-world assets surged to an unprecedented $311 billion.
From a technical standpoint, XRP’s hourly chart shows price compression inside a symmetrical triangle, characterized by narrowing lower highs and higher lows. Analyst Ali Martinez highlighted on X that a sustained break above $1.13 could open the door to a move toward $1.35. Martinez further noted that XRP’s monthly chart is displaying a TD Sequential buy signal, adding a longer-term bullish indicator to the short-term price action.
However, the daily chart tempers this optimism. XRP is still confined within a descending channel that has restricted upside for months. Crucially, the 100-day and 200-day moving averages remain positioned above the current price and are sloping lower, indicating persistent bearish momentum on the higher timeframe.
To shift the structural outlook, XRP must overcome heavy supply between $1.24 and $1.28. This resistance zone coincides with the descending channel’s upper boundary and major moving averages. Clearing this area is required before the daily chart turns meaningfully stronger.
On the downside, the primary demand zone sits between $1.02 and $1.06, where buyers have repeatedly stepped in over recent weeks. Maintaining this floor is critical for the short-term recovery structure. If XRP loses this support, it would expose the $0.88 to $0.92 area.
