XRP pulls back after 10% rally as $1.25 resistance holds firm

XRP surged 10% to break above $1.20 before sellers pushed it back near $1.21 on June 16.

XRP rose 10% to $1.25 on June 16 before retreating to $1.21, as traders took profits at a resistance level that has capped gains for weeks.

Whale wallets holding at least 1 million XRP now control 74.1% of the total supply, having accumulated 1.53 billion tokens over six months, according to on-chain data.

The rally was fueled by concentrated buying from South Korea's Upbit, which accounted for 31% of XRP wallet-flow activity by June 14, up from 13% a week earlier. XRP spot ETFs added $10.68 million in net inflows, lifting cumulative subscriptions to roughly $1.44 billion since the products launched in late 2025. RLUSD, Ripple's dollar-pegged stablecoin, listed on Gate.io on June 15 with new trading pairs.

Key support sits at $1.18 to $1.20, while resistance at $1.25 to $1.30 must clear for a run toward $1.35. The CLARITY Act, which cleared the Senate Banking Committee on May 14, remains the most significant pending catalyst — a full Senate floor vote could unlock institutional capital that has largely stayed on the sidelines.

SpaceX IPO and Iran Deal Fuel Broader Risk Appetite

The macro backdrop added fuel to the move. SpaceX completed the largest IPO in history, with shares surging past a $2.8 trillion market value. The listing fueled broader risk appetite across speculative assets, with traders rotating into decentralized exchange tokens and high-beta altcoins.

On the geopolitical front, President Donald Trump confirmed the US-Iran peace deal is complete, with the official signing scheduled for June 19 in Switzerland. Brent crude slipped below $80 a barrel on the news, while Asian equities jumped more than 3%. Bitcoin touched $67,217 on Monday before retreating to $66,500, a muted response that analysts attributed to traders demanding structural confirmation before pricing the deal as durable.

XRP Ledger Upgrade Adds Infrastructure Credibility

XRP Ledger version 3.2.0 went live on June 15, cutting server consumption by up to 40%. Developers also announced a roadmap with privacy features and DeFi lending functionality. While these upgrades do not move price directly, they strengthen the case that XRP's infrastructure is improving even as traders debate chart levels.

This article is for informational purposes only and does not constitute investment advice.