XRP has failed to break out of its trading range, putting the $1.11 support level and the $1.28 resistance level in focus as key areas that could determine its short-term direction.

On June 17 local time, blockchain outlet The Crypto Basic reported that market analyst Egrag Crypto said XRP is in a "rebuilding phase" and must reclaim major price levels sequentially for buyers to regain control.

XRP recently appeared to maintain an upward move before repeatedly being pushed back. Egrag Crypto viewed this not as random volatility but as a range structure in which buyers and sellers clash at key levels. He said buyers defend support while sellers cap the upper end of resistance, leaving the price unable to extend in one direction.

XRP fell to as low as $1.05 recently, slipping below its February low of $1.12. Buying later came in and it rebounded quickly. A long lower wick formed on the daily candlestick, which Egrag Crypto interpreted as a sign that defence of the demand zone was working strongly. He said, "This is not random," and explained that attempts by buyers and sellers to regain control of the market are repeating at each key level.

On the upside, resistance around $1.30 was confirmed again. He also judged that the long upper wick on the June 15 daily candlestick showed selling pressure remained at higher prices. He singled out $1.11 as a "survival zone." If that level does not break, a scenario of a sharp drop to $0.88 becomes invalid, but a failure to defend it could increase downside pressure.

On the other hand, $1.28 was presented as the first recovery level on the upside. XRP tested that level early this week and then lost momentum again. He said buyers need to reclaim $1.28 to show strength, and that if it then rises into the $1.35 to $1.38 zone, market leadership could gradually shift to buyers.

$1.50 was cited as a more significant breakout level. XRP has been blocked near that area several times since February, and he said the market structure could shift to the upside only if it clears that level. If XRP breaks through the top of the current range, $2.30 is mentioned as the next target zone, but XRP last reached that price level in January.

Technical indicators also do not strongly support a rebound signal. XRP remains below major moving averages, leaving price momentum weak. The daily relative strength index (RSI) has also begun to slope downward. With the RSI at 45.84, it is near a neutral zone, making it difficult to view the situation as an extreme oversold or overheated signal.

Derivatives markets also showed signs of a wait-and-see stance. On-chain data showed that in the past 24 hours, newly opened contracts in the XRP futures market totalled $564 million, but liquidated or closed contracts were higher at $615 million. Open interest also fell 5 percent to $2.75 billion. It signals market participants are reducing leverage exposure and staying cautious until direction becomes clearer.

As a result, the areas drawing the most immediate attention are whether $1.11 holds and whether $1.28 is reclaimed. Based on these levels, it has become more likely that it will be decided whether XRP's price rebuilding continues or tilts toward further weakness.

#XRP Daily - The Wick Spoke, The Range Is Deciding: This chart is all about wicks + range behavior. The bullish lower wick from the $1.11 zone was not random. ️Now look at the upper wick from yesterday: ▫️Price pushed higher, but sellers showed up near resistance. So the… pic.twitter.com/NoGmxiILcf