XRP Clings to $1 as Onchain Activity Jumps 72% and Leverage Clears Out

XRP is clinging to the $1 support level even as its price action stalls, with onchain activity rising sharply and leverage draining from the market.

Onchain Activity Heats Up

Daily active addresses on the XRP ledger climbed from approximately 23,000 on June 14 to nearly 39,500 by June 27, a jump of roughly 72% in two weeks, according to crypto data firm Santiment. New wallet creations also spiked, reaching 4,941 in a single day, while bullish sentiment hit a three-month high. Some analysts view this divergence—flat price against rising activity—as a sign of quiet accumulation, with dip-buyers stepping in during consolidation.

Despite the uptick in network use, XRP remains boxed in, struggling to clear resistance around $1.10 and trading within a narrow range.

Leverage Drains Out

Open interest (OI), the total value of outstanding futures contracts, has fallen sharply to its lowest level since July 2025 as traders unwind leveraged bets built during XRP’s earlier rally. Open interest slid from a peak near 1.3 billion to well below that. A leverage reset can be constructive, making the token less vulnerable to cascading liquidations, but thinner momentum may also make a sharp breakout harder to fuel.

The cleanup follows a brutal stretch in which XRP plunged to a yearly low of $1.01 in late June, capping a roughly 43% year-to-date slide amid a broader crypto sell-off. The $1 level has become a key line that bulls are defending.

ETF Money Keeps Coming

Even through the weakness, institutional demand has held. U.S. spot XRP exchange-traded funds (ETFs) recorded an eighth consecutive week of inflows, lifting cumulative inflows to $144.7 million. Steady ETF inflows during a price slump suggest some allocators are using the dip to build exposure through regulated vehicles.

With onchain activity rising, leverage washed out, and ETF money still flowing, bulls argue that the $1 floor is being defended by genuine demand rather than speculation.

Source: https://news.bitcoin.com/xrp-clings-1-onchain-activity-72-leverage-clears-out/