XRP rebounds above $1.30 after volume surge, but bears still control the bigger picture
Summary
XRP found strong buying near the bottom of its range after a May decline, briefly reclaiming $1.30 on a notable volume spike. The bounce broke a pattern of lower lows and created higher lows, but the broader trend has not turned yet. Sentiment remains weak, with traders holding large unrealized losses and derivatives activity cooling, though speculative positioning is still elevated. XRP is now consolidating around $1.30–$1.32, still below key resistance at $1.32–$1.34, $1.40, and especially $1.65. Holding $1.30 keeps the recovery attempt alive; losing it could expose $1.20. The multi-month compression suggests a larger breakout move may be coming once range support or resistance fails.
