XRP at $1.05: Can $2.3 Billion of Open Interest Save the $1 Floor?

XRP still trails lower, with $1.05-$1.06 as the immediate test

XRP is hovering over a live support zone, not a confirmed bottom. After it opened July around $1, price faded back to $1.05-$1.06, and after the Aug. 5 decline near $1.07, the market has still not staged a convincing rebound. If $1.05-$1.06 fails, the psychological $1 level becomes the next clear reference point.

Support has backing, but momentum has not turned

Bulls still have reasons to defend this area. One snapshot showed open interest sat at $2.38 billion, while another read placed it near $2.25 billion, pointing to meaningful derivative exposure near the level. That does not guarantee a rebound, but it does suggest this zone has attracted real attention from traders.

The bearish case is simpler: XRP still lacks a sustained recovery above $1.10, and momentum remains weak. If support breaks, that positioning can become overhead supply rather than a cushion.

Why $1.00-$1.06 matters more than a generic bottom

Heavy volume and open interest make this a liquidity battle

The reason $1.00-$1.06 matters is that position density is concentrated here. Over 830 million tokens were traded around $1.06, which makes it one of the heavier recent volume nodes. Combined with one open-interest reading of $2.38 billion and another near $2.25 billion, the zone reflects both past spot activity and current derivative positioning.

Positioning has reset, but buyer conviction is still limited

Recent market conditions look more like de-risking than outright panic. Leverage has been unwinding, liquidations have been relatively balanced, and funding remains close to neutral. That suggests a positioning reset rather than a forced liquidation event. In practice, that can slow downside, but it has not yet translated into strong upside conviction.

Stabilization is not the same as renewed demand

The key line remains $1.10. XRP has not secured a recovery above that level, so the market is still stabilizing rather than showing clear trend repair. One supportive note is that U.S. spot XRP ETFs reportedly recorded four consecutive inflow days despite the weak price action, but those inflows have not been enough yet to overpower selling pressure.

XRP's next move: hold $1.06 or retest $1

After the Aug. 5 decline near $1.07, XRP remains in a waiting game rather than a confirmed reversal. For buyers, the first real hurdle is $1.10, with the $1.10–$1.20 range acting as the first meaningful resistance block.

What confirms bulls, and what keeps bears in control

If XRP holds $1.06 and pushes through $1.10, the market keeps rebounding off intact. If it loses $1.05-$1.06, the next major reference is the psychological $1 level. That is why this setup matters now: it is a near-term trading decision, not a theoretical bottom.