XRP's price has been stuck in a tight range around $1.10, showing minimal movement despite signs of large-scale accumulation and increased derivatives activity.
Regulatory developments in the US and Japan are adding to the uncertainty, with the US Congress holding a hearing on XRP's classification and Japan treating crypto as financial products.
The market is awaiting outcomes from these regulatory events, while XRP's medium-term trend remains weak, with key support at $1.07-$1.10 crucial to watch.