On-Chain Activity Picks Up Sharply

Activity on the XRP Ledger has climbed at a notable pace over the past two weeks. $XRP daily active addresses rose from around 23,000 on June 14 to nearly 39,500 by June 27, a gain of roughly 72% in a fortnight, according to CoinDesk. The network also added 4,941 new wallets in a single day during that stretch, its strongest wallet growth in over three months, per Santiment data cited by crypto(.)news.

The uptick in addresses stands out because it is running against the grain of the price action. XRP has traded near the psychologically important $1.00 support level after losing ground through most of June. Despite that, users and wallets continued to accumulate on-chain, suggesting the underlying ledger is drawing fresh participation independent of short-term price moves.

ETF Inflows Diverge From Bitcoin Trend

On the institutional side, XRP spot ETFs extended their run of positive flows. CoinDesk reported that XRP spot ETFs recorded an eighth consecutive week of inflows, bringing cumulative net inflows to $144.7 million over that eight-week period. The most recent week, ending June 26, added $22.99 million, with Bitwise leading at $11.18 million and Franklin Templeton contributing $3.80 million on June 26 alone.

The contrast with Bitcoin is notable. Bitcoin ETFs recorded $444.50 million in net outflows in a single session that same week, while XRP ETFs posted zero outflow days, per CoinGlass data cited by BeInCrypto. That divergence points to investors treating XRP's regulatory positioning as a distinct story from the broader crypto market selloff.

The derivatives market tells a separate, but related, story. Open interest across major exchanges fell sharply, dropping from a peak of around $1.3 billion to below $150 million, its lowest level since July 2025. The decline reflects a broad clearing of leveraged long positions built during XRP's earlier rally. While the deleveraging contributed to downward price pressure, removing crowded leverage can set a cleaner base for the next directional move.

For now, the $1.00 level remains the main line in the sand. Whether the combination of rising on-chain activity and steady ETF inflows is enough to convert into a sustained price recovery remains to be seen.

Sources:
CoinDesk: XRP Holds $1 Support as Network Activity Rises and Leverage Clears Out
BeInCrypto: XRP ETF Inflows Hit 8-Week Streak as Bitcoin ETF Outflows Continue
crypto(.)news: XRP Price Near $1 as Wallet Growth Hits Three-Month High