XRP Sees Three-Month Peak in New Wallet Signups — But Bears Remain Firmly in the Driver's Seat

XRP has drawn its most significant wave of new user activity in over three months, even as the token continues hovering near a key psychological support level that many traders are watching closely.

According to data from Santiment, XRP's network recorded 4,941 new wallets created within a single 24-hour period — the highest daily network growth figure seen in the past three months. Alongside that, retail traders showed noticeably stronger conviction, with the positive-to-negative social sentiment ratio climbing to 3.7:1, representing a four-month peak in bullish social activity.

These numbers suggest that market participants are treating the $1.00–$1.05 price band as a compelling accumulation zone, even amid ongoing price weakness. That said, the spike in new wallet activity reflects growing interest and curiosity rather than confirmed, large-scale purchasing activity. Broader optimism continues to be fueled by narratives around institutional involvement and potential ETF developments, though price recovery will ultimately depend on sustained demand materializing in the spot market.

**Can XRP Find Its Footing Above $1.03?**

XRP has been actively defending the $1.03 support level after briefly dipping to approximately $1.01 — a level not seen in 19 months. Buyers have consistently stepped in around that zone, preventing a clean breakdown below the psychologically significant $1.00 mark.

Despite this resilience at support, the broader technical picture remains bearish. XRP is still trading well beneath the $1.2386 resistance level and has so far failed to establish a pattern of higher highs. At the time of writing, the Relative Strength Index (RSI) sits at 32.76 — below the neutral 50 threshold, though it has recovered from deeply oversold readings seen earlier in June. The RSI reading signals that selling pressure has eased marginally but continues to dominate the overall trend. Without buyers reclaiming higher resistance levels, XRP remains exposed to further downside despite the improved participation data.

**Long Liquidations Reveal Where Market Pressure Is Concentrated**

Derivatives market data paints a telling picture. During the most recent trading session, bullish traders absorbed the heaviest losses. Total long liquidations amounted to approximately $1.28 million, compared to just $130,770 in short liquidations — a stark imbalance that underlines who has been on the losing side of recent price action.

Breaking this down by exchange, Binance led with around $568,370 in liquidated long positions, followed by Hyperliquid at $454,120 and Bybit at $122,810. These figures make clear that leveraged bulls have been losing their positions as XRP struggles to push above nearby resistance. The comparatively modest short liquidations indicate that bearish traders faced limited pressure, even during the brief bounce from support levels. Overall, this liquidation imbalance reflects cautious positioning across the market and confirms that buyers have yet to regain firm control of the prevailing trend.

**Funding Rates Point to Rising Bearish Conviction**

The OI-Weighted Funding Rate has remained in negative territory, sitting near -0.0027% at the time of writing. A negative funding rate signals that short traders are gradually reasserting dominance across perpetual futures markets, as traders are paying premiums to maintain bearish positions.

This dynamic aligns with XRP's continued inability to reclaim meaningful resistance levels, even as on-chain activity picks up and social sentiment turns more positive. The divergence is notable: while fresh wallet creation is accelerating and retail optimism is strengthening, derivatives traders are still leaning toward downside exposure. This gap suggests that speculative participants remain unconvinced by the recent improvements in network-level engagement. For XRP to mount a credible recovery, funding rates would need to return to positive territory alongside a more decisive upward price move.

**The Bottom Line**

XRP is showing genuinely encouraging signs on the user activity and sentiment fronts, but derivatives data continues to tell a more cautious story. Buyers have successfully held the $1.03 support level, yet negative funding rates, a below-neutral RSI, and heavily skewed long liquidations all point to fragile confidence. A sustained trend reversal will likely require stronger spot-market demand and a clear recovery above nearby resistance before the improving on-chain metrics can translate into meaningful upside momentum.