XRP price rally tests $1.20 as sentiment hits an 8-month low

$XRP traded near $1.15 on June 12 after a volume-backed rebound from the $1.10 area, but traders still watched whether the move could break the wider downtrend.

$XRP price rebounds from $1.10

$XRP traded at $1.15, up nearly 3% over 24 hours, according to crypto.news market data. The token recorded about $1.68 billion in daily trading volume, while market capitalization stood near $71.24 billion.

The 24-hour trading range stayed between $1.10 and $1.15. That shows buyers defended the lower end of the range and pushed price back toward short-term resistance.

The rebound followed a weak period for $XRP. The token remained down 21.48% over 30 days and 48.73% over the past year, showing that the latest move has not erased the broader decline.

$XRP still ranks sixth by market value. Its fully diluted valuation stood near $114.79 billion, with about 62.05 billion tokens in circulation from a maximum supply of 100 billion.

Volume-backed move tests resistance

$XRP rose from about $1.1080 to $1.1442 during the earlier 24-hour session, gaining more than 3%. The strongest move came when buyers pushed through resistance near $1.1220.

Volume surged to about 120.2 million $XRP during the June 11 17:00 UTC session. That was more than 160% above average and helped confirm the short-term breakout.

The move was notable because recent $XRP rebounds had faded quickly. This time, buyers kept bidding into the close and pushed price above $1.14.

The next test sits around $1.20 to $1.25. Every major $XRP recovery this year has struggled before that zone, so a clean break above it would be needed to improve the larger structure.

Sentiment stays weak despite rebound

Santiment said $XRP’s weighted sentiment has fallen to its lowest level since October 2025. The metric tracks social volume and the ratio of positive to negative commentary.

“$XRP’s sentiment at 8-month lows, but this level of FUD tends to spark bull rallies,” said Santiment.

That signal does not confirm a price rally. It shows that crowd interest has weakened while negative commentary has increased, which can sometimes appear near rebound zones.

Santiment also noted that $XRP has seen strong rebounds in the past when traders became disinterested. That makes sentiment a useful secondary signal, but not a full trading signal on its own.

ChartNerd also pointed to $XRP returning to the lower regression band of the Gaussian Channel on the two-week timeframe near $1.04. The analyst described that zone as a macro opportunity area based on prior cycles.

“One of our $XRP signals just fired,” said ChartNerd.

$XRP ETF flows and technical levels matter

According to SoSoValue data, $XRP spot ETFs recorded zero outflows on June 11, while Bitcoin, Ethereum, and Solana ETFs saw redemptions. $XRP ETF net assets were reported near $984.77 million, close to the $1 billion mark.

That matters because steady ETF demand can support price during weak market conditions. It does not guarantee a breakout, but it can reduce the pressure that comes from spot selling.

Technically, $XRP is trapped between a short-term rebound and a longer-term downtrend. Price has reclaimed $1.14, but it still trades below the larger descending trendline that has guided the market since early 2026.

Immediate support sits near $1.10. A loss of that area could expose $1.04, where analysts are watching the lower regression band and recent support.

On the upside, $XRP needs to clear $1.15 first, then build momentum toward $1.20. A daily close above $1.20 would shift focus to $1.25, where earlier recoveries have failed.

MXNB launch adds XRPL context

Ripple and Bitso expanded their partnership by bringing the MXN-backed stablecoin MXNB to the $XRP Ledger. The stablecoin will also integrate with Ripple’s Payments on Decentralized Exchange infrastructure.

The setup is designed to support enterprise settlement between the United States and Mexico. Ripple’s RLUSD and Bitso’s MXNB are expected to provide on-chain dollar and peso liquidity for payment flows.

The launch adds another institutional use case for XRPL. Still, $XRP price must confirm strength through the chart, because network growth does not always lead to immediate token demand.

As previously reported by crypto.news, the XRPL 3.2.0 upgrade is also expected on June 15. The upgrade will rename the core software from “rippled” to “xrpld” and may reduce server memory use by around 40%.