XRP Price Climbs by 5% on Relief Rally, Bitcoin Rebound
Ripple (XRP) price surged by 5.32% to $1.15 in a technical relief rally, driven by a beta-driven rebound as the crypto market stabilised after a sharp sell-off.
The token moved in close line with a broader market recovery, with Bitcoin up 4% and the total crypto market cap rising 3.85% over the same period.
Traders reported that capital flowed back into risk assets after a week of heavy selling pressure, driven by record outflows from spot Bitcoin exchange-traded funds (ETFs) and a strong U.S. jobs report.
The rally was more about market-wide sentiment than XRP-specific news, indicating its price remains tightly coupled with Bitcoin’s direction.
The price rebounded from the Fibonacci swing low of $1.05, a critical support level. The 14-day Relative Strength Index reading of 31.59 confirmed the asset was deeply oversold, inviting bargain buyers.
Concurrently, on-chain data showed the XRP Ledger surpassed 200,000 daily active users on June 5 for the first time since March, signalling renewed network engagement.
The bounce was technically supported, while underlying network health improved, though trading volume declined by 1.43%, calling the move’s conviction into question.
The immediate trend hinges on macro events and key technical levels.
The U.S. Consumer Price Index (CPI) report on June 10 and the Federal Open Market Committee (FOMC) meeting on June 17 will set the tone for risk assets.
For XRP, holding the $1.10 level is crucial for a retest of the major resistance at $1.27—the former support that now caps upside. Failure to hold $1.05 opens the door to a bearish scenario targeting $0.93.
The path forward is binary and event-dependent. A clean break above $1.27, accompanied by strong volume, is needed to signal a more sustained recovery.
The 24h gain appears to be a technical relief rally within a broader bearish trend, amplified by positive beta. While network activity is a bright spot, it hasn’t yet translated into price leadership. XRP Price Crashes to $1.07 over Severe Market Downturn
