XRP is clinging to $1 support, but the quiet in its price masks a pickup in network use. Daily active addresses climbed from about 23,000 on June 14 to nearly 39,500 by June 27, a jump of roughly 72% in two weeks, according to crypto data intelligence firm Santiment. New wallet creations also spiked, reaching 4,941 in a single day, while Santiment pegged bullish sentiment at a three-month high.

For some analysts, that divergence, flat price against rising activity, reads as quiet accumulation since growing address counts and fresh wallets often point to dip-buyers stepping in while a token consolidates, even if the move has yet to show up in the price.

The token remains boxed in however, with XRP struggling to clear resistance around $1.10, leaving it in a narrow range despite the firmer onchain backdrop.

Open interest (OI), the total value of outstanding futures contracts, has fallen sharply, dropping to its lowest level since July 2025 as traders unwound bets built up during XRP’s earlier rally. Leverage has been clearing out of the market, with open interest sliding from a peak near 1.3 billion to well below it.

It bears mentioning that a leverage reset can be constructive because when speculative positioning is flushed, a token becomes less vulnerable to cascading liquidations, and any subsequent move tends to rest on firmer footing. The flip side though, is thinner momentum and with fewer leveraged longs in play, a sharp breakout becomes harder to fuel.

That said, the aforementioned cleanup follows a brutal stretch as XRP plunged to a yearly low of $1.01 in late June, capping a roughly 43% year-to-date slide that dragged the token down alongside a broader crypto sell-off. The $1 level has since become the line bulls are defending.

Even through the weakness, institutional demand has held with U.S. spot XRP exchange-traded funds (ETFs) recording an eighth consecutive week of inflows, lifting cumulative inflows to $144.7 million despite outflows across much of the broader crypto-fund market. Steady ETF inflows during a price slump suggest some allocators are using the dip to build exposure through regulated vehicles rather than retreating. Bitcoin.com News has tracked XRP’s slide from above $1.30 to near $1, including the bearish targets traders floated if the $1 support gives way.

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

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