XRP reclaims $1.18 but only one exchange is really throwing the party 🎉

XRP pushed above the $1.18 zone this week, a level that has repeatedly capped recovery attempts since the early June sell-off from $1.36. The token reached $1.22 as daily trading volume climbed roughly 94% to $1.73 billion, an uptick consistent with strengthening participation during the move.

Reclaiming $1.18 shifts attention from simple recovery toward a potential trend reversal, though the breakout remains unconfirmed pending sustained buying above that threshold. U.S. spot XRP ETFs have been a steady undercurrent behind the resilience. Since late 2025, the products have absorbed approximately $1.44 billion in cumulative inflows, including 8.80 million XRP worth roughly $10.68 million in the latest week. ETF holdings have climbed toward 924 million XRP, gradually trimming liquid supply on the open market.

The price action, however, has been supported by an increasingly narrow set of venues. While XRP recovered from $1.11 to $1.18, wallet-flow data shows exchange participation skewed toward Upbit, whose share of flows climbed from 13% on 7 June to 31% on 14 June, its highest level since May 2024. Over the same window, Coinbase's share dropped from 27% to 0%, Binance's from 16% to 13%, and Crypto.com's from 9% to 3%, according to the underlying figures.

Concentrated flows can support short-term advances, but broader participation across major exchanges would offer stronger evidence that demand is expanding rather than rotating between regions. Whether ETF inflows continue to absorb supply alongside that broader participation will be the key variable for XRP's next move.