TLDR
XRP (XRP) is seeing rising on chain and network activity while derivatives leverage has been flushed out, creating a cleaner but still cautious trading setup.
- Daily active addresses and new wallets on XRP have surged, while spot XRP ETFs keep receiving inflows even as price holds near the key 1 dollar support.
- Derivatives open interest and crowded long positions have dropped sharply, reducing cascading liquidation risk but also muting immediate breakout fuel.
- The next phase hinges on whether 1 dollar support holds, whether activity turns into sustained demand, and whether leverage quietly rebuilds around a new trend.
Deep Dive
1. Activity And Fund Flows
Recent data shows XRP network usage climbing. Daily active addresses rose about 72 percent in two weeks, from roughly 23,000 on 14 June to nearly 39,500 by 27 June, according to Santiment cited by Crypto.news. New wallet creation peaked at around 4,941 in a single day, the strongest growth in three months.
On the protocol level, Messaris Q1 report noted average daily XRP Ledger transactions up 35.3 percent quarter over quarter to 2.48 million, even as price fell, highlighting growing usage of the network despite market weakness.
Institutional flows are supportive but not explosive. Spot XRP ETFs have logged several consecutive weeks of net inflows, with cumulative inflows around $1.44 billion while many Bitcoin and Ethereum products saw outflows, as detailed in an XRP price analysis. This suggests some allocators are using the drawdown to build regulated exposure.
2. Leverage Reset And Risk
Derivatives leverage around XRP has been aggressively cleaned up. Binance open interest has fallen from a peak near 1.3 billion XRP to roughly 375 million XRP, and the Open Interest Turnover Ratio is lower, indicating slower speculative churn and more cautious positioning on major venues, per Crypto.news.
Across exchanges, open interest has dropped to levels last seen in mid 2025, while long liquidations spiked in late June, including a day with over $40 million in XRP long positions wiped out, according to a wedge-focused technical note referenced by TradingView and Crypto.news. A separate analysis reports investors realizing losses at the fastest pace since 2022, with futures turnover down more than 90 percent year on year, signaling a broad retreat from high leverage in XRP markets, as covered by CryptoSlate.
There is less crowded leverage that can trigger sudden forced selling, but also less speculative fuel for sharp rallies, so moves are more likely to reflect genuine demand and supply.
3. Levels And Signals To Watch
Price action remains heavy despite better positioning. XRP trades near $1.05, roughly flat on the day but down about 19 to 22 percent over the past 30 days, with clear support around $1 and resistance in the $1.10 to $1.12 area, according to recent price coverage.
Analysts are watching three main signals:
- Whether the $1 support continues to hold on further tests and whether price can reclaim the $1.10 to $1.12 zone.
- How quickly derivatives open interest and turnover ratios rebuild, which would show renewed speculative appetite.
- Whether rising active addresses and wallet growth translate into sustained on chain demand rather than short term FOMO, alongside continued ETF inflows.
For traders and investors, combining these signals helps distinguish a durable base-building phase from a temporary pause before further downside.
Conclusion
XRPs current backdrop is a mix of healthier underlying activity and sharply reduced leverage, contrasted with a still weak price trend pinned near crucial support. If usage and ETF demand persist while leverage rebuilds in a measured way above 1 dollar, the setup could evolve into a more constructive recovery. If 1 dollar fails and leverage snaps back aggressively, the same mechanics that recently cleaned up positioning could amplify a new leg lower.
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