The XRP Ledger has experienced a significant decline in activity, reaching its lowest levels of the year. Data from Santiment indicates that daily active wallets have dropped to 25,350, marking the second-lowest count recorded, while new wallet creation has waned to just 2,130, the lowest since November 2024. This decrease suggests that many traders are opting to remain inactive, possibly waiting for the next significant event that could shift market dynamics.
Santiment highlighted this trend, noting that while XRP prices have hovered just below $1.10, activity on the ledger has notably slowed. The analytics firm posits that to reinvigorate network engagement, factors such as the wider adoption of RLUSD, the rise of tokenized assets, and increased institutional payment activities would be instrumental in attracting more users back to the platform.
Despite the current lull in network activity, EGRAG Crypto, a market analyst, maintains a longer-term bullish outlook on XRP. He identifies the range of $0.85 to $1.10 as an accumulation zone for investors. EGRAG also cited more aggressive resistance levels, suggesting that the $3.00 to $3.50 range poses the next hurdle for XRP prices, with a distant goal of $15, although he emphasized that this figure is more of a personal perspective than a formal prediction.
The sentiment in the derivatives market remains apprehensive. Analyst Darkfost reported that funding rates on Binance for XRP have turned negative following a steep decline of approximately 70% since the asset's peak in July 2025. This indicates that traders are retaining a bearish outlook for the near future.
On the institutional side, demand for U.S. spot XRP ETFs has diminished, with net outflows reaching $7.29 million on July 8. This event represents the largest single-day withdrawal since March, effectively ending a streak of nine weeks characterized by positive inflows. This change underscores the cautious nature of current investors as they navigate the uncertain market environment.
This material is for informational purposes only and does not constitute financial advice.
