XRP Holds onto $1 as Onchain Activity Increases by 72% and Leverage Clears Out
June 30, 2026
XRP is currently maintaining its position above the $1 mark, showing resilience despite its stagnant price movement. Daily active addresses on the network have surged by approximately 72% within a two-week span, indicating a significant uptick in on-chain activity. According to data from Santiment, the number of new wallet creations has also experienced a spike, with a single-day record of 4,941 new wallets being established. Additionally, the overall sentiment towards XRP has reached a three-month high, implying a growing bullish outlook among investors.
While XRP’s price has remained relatively flat, the increase in network activity suggests that there may be an accumulation phase happening behind the scenes. Growing address counts and the creation of new wallets often signal that investors are taking advantage of price consolidations to purchase XRP, even if these actions have yet to impact the token’s price movement. Despite these positive indicators, XRP continues to face resistance around the $1.10 mark, restricting its price movement within a narrow range.
In terms of derivatives trading, the market has witnessed a significant reduction in open interest, dropping to its lowest level since July 2025. This decline in leverage positions indicates that traders are unwinding their bets following XRP’s previous rally. While a reduction in leverage can be beneficial as it reduces the risk of cascading liquidations, it may also result in less momentum and hinder the possibility of a sharp breakout in the near future. The recent cleanup in leveraged positions comes after XRP experienced a sharp decline to a yearly low of $1.01 in late June, marking a 43% decrease year-to-date. The $1 level has now become a crucial support level defended by bullish investors.
Despite the challenges faced by XRP, institutional demand remains robust, with U.S. spot XRP exchange-traded funds (ETFs) reporting inflows for the eighth consecutive week. Cumulative inflows have reached $144.7 million, highlighting continued interest from institutional investors. This consistent flow of funds into ETFs during a price downturn indicates that some investors are using the opportunity to increase their exposure to XRP through regulated investment vehicles. The ongoing inflows in ETFs contrast with outflows observed in other segments of the crypto-fund market.
In conclusion, despite XRP’s price stagnation, the increase in on-chain activity, the reduction in leverage positions, and the steady institutional demand through ETFs suggest that there is underlying support for the token. Bulls may find encouragement in the fact that the $1 level is being defended by genuine demand rather than speculative trading, providing a solid foundation for potential price movements in the future.
