- XRP fell toward key support as whale selling and network activity weakened sharply.
- Futures Open Interest slipped while market sentiment stayed in Extreme Fear zone Friday.
- Despite steady inflows, analysts said XRP breakout targets remain untriggered for now.
XRP declined over 1.17% over the last 24 hours amid selling pressure that dragged the token closer to the important support level. Daily volume stood near $1.47 billion, while attention shifted to whale behavior, network activity, and derivatives demand.
During the session, the token traded between $1.12 and $1.18. Its market cap stood near $70.3 billion, keeping it sixth among digital assets by market value.
XRP’s Whale Sales Bring $1.10 Support in Focus
The latest pullback weakened last week’s recovery attempt. XRP climbed above $1.20, but sellers stopped the move before price broke through the descending trendline.
In an X post, analyst Ali Martinez said whales sold more than 30 million XRP over the past five days. The move showed that large holders cut exposure as price pressure increased.
The analyst highlighted that XRP network activity fell by nearly 50% in two weeks. Active addresses dropped from about 50,000 to nearly 25,000.
Moreover, data from derivatives showed decreased demand. Open Interest in XRP futures stood at the level of $2.64 billion on Friday, down slightly from $2.66 billion on Thursday.
Market sentiment remained negative overall. The Crypto Fear & Greed Index held at 14 on Friday, placing sentiment in the Extreme Fear zone.
Source: Alternative
XRP Inflows Continue as Analyst Watches Key Levels
However, based on SoSoValue’s data, XRP products witnessed inflows totaling $2.55 million on June 18 after the flat performance on June 17. By June 18, cumulative net inflows had risen to around $1.45 billion.
Source: SoSo Value
In an X post, Egrag Crypto highlighted that the two-month XRP chart continued showing the ascending triangle pattern. In particular, the analyst called the current period “E is the battlefield.”
Nevertheless, according to the analyst, the larger targets are not active yet. First, XRP needs to defend rising macro support, close above important moving averages and break the resistance area between $2.00 to $2.10 in order to return larger upside targets.
Source: X
The bullish scenario remains conditional. In case selling interest would continue, the asset could return to the $1.05 mark. Also, in case of a more significant breakdown, the psychological support at the $1.00 level would come into play again.
Related: XRP Must Reclaim $1.15 for Meaningful Relief: Analyst
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