XRP recorded 4,300 new wallet creations in a single day, marking the fourth-largest spike in network growth this year, according to data from Santiment on May 22. This surge in new addresses often serves as a leading indicator for potential market reversals, drawing increased attention despite XRP's price remaining relatively flat near $1.37.
Derivatives activity has also picked up significantly. Open interest for XRP futures on Binance climbed to $488 million this month, one of the highest levels since March. While rising open interest signals growing trader engagement, it does not indicate a specific directional bias. Meanwhile, exchange-flow data from analyst Amr Taha showed that Binance XRP withdrawals accounted for 53% of transaction share compared to 47% for deposits—a pattern that can suggest reduced selling pressure as traders move tokens off exchanges.
Further bullish signals come from the ETF market. XRP-focused exchange-traded funds attracted $8.88 million in the latest session, contributing to a weekly net inflow total of $42 million. In stark contrast, Bitcoin ETFs suffered $100.9 million in outflows in the same session, and Ethereum ETFs lost $32.6 million. This capital rotation highlights selective interest in XRP amid broader market weakness.
Despite these positive indicators, XRP's price has not yet broken out. It remains in a holding pattern between $1.36 and $1.38, down 8% over the past week and over 43% from a year ago, still more than 62% below its July 2025 all-time high of $3.65. Analysts identify $1.20–$1.25 as critical support and $1.50–$1.60 as near-term resistance. Options positioning around $1.40 is acting as a magnet, potentially keeping the price range-bound ahead of June expiry.
Institutional engagement remains a bright spot. CME’s XRP futures products have processed approximately $63 billion in notional trading volume since their launch in May 2025, reflecting sustained interest from sophisticated traders.
