XRP failed to maintain its upward momentum on July 7, 2026, as the cryptocurrency consolidated around $1.12 after briefly surpassing the $1.14–$1.15 resistance zone.
Trading volume was insufficient to confirm a definitive breakout, leading to a retracement from a peak above $1.18.
Technical Analysis Points to Mixed Signals
According to technical analyst Erik Juffermans from Newsbit, XRP needs a daily close above $1.15 to validate a bullish inverted head-and-shoulders pattern.
However, a hidden bearish divergence on the daily chart suggests the broader downtrend remains intact.
Juffermans warned that a drop to $0.70 is possible unless bulls reclaim the $1.30 zone.
On the positive side, a conflicting bullish divergence at the $1.02 bottom indicates potential for short-term recovery.
Data from CoinDesk showed XRP trading near $1.1238, underperforming the CD5 index by 143 basis points.
Daily volume rose 16.19% above the weekly average, but heavy selling pressure emerged near $1.1507.
Buyers managed to defend the $1.1110 session low, preventing a deeper decline.
Institutional Interest Provides Support
Despite the price struggles, institutional demand remained steady. Spot XRP ETFs recorded a ninth consecutive week of net inflows, bringing in $17.19 million.
This continuous accumulation occurred amid broader regulatory uncertainty following the postponement of the CLARITY Act vote in the Senate.
