XRP Spot Demand Hits Yearly High as Traders Wait for Breakout

XRP is trading in the $1.10 to $1.12 range after a modest 2% decline over the last day. While the price action seems calm, the underlying data tells a different story. Spot demand for the token has climbed to its highest levels since June, signaling that many investors are quietly accumulating the asset even as others take profits.

The current market situation shows a clear disconnect between spot buyers and derivatives traders. While spot investors are actively absorbing supply, those using leverage remain cautious. This pattern often appears right before a significant price shift, making the $1.14 level a critical area to monitor. If bulls can push back above this point, it could spark a renewed rally toward the $1.20 and $1.48 marks.

Technically, the market is facing some headwinds. The Relative Strength Index recently entered overbought territory, which suggests that upside growth might be limited without fresh buying pressure. However, the MACD indicator still leans in favor of the bulls. Traders should keep an eye on whether buyers can hold current support levels, as a failure to do so could lead to further short term selling before any recovery takes hold.