XRP is showing a conspicuously cleaner on-chain signal after a sharp 72% increase in daily active addresses over a two-week period coincided with a significant unwinding of speculative derivatives leverage. The combination is drawing attention because it suggests the market may be leaning less on crowded leveraged bets and more on genuine network usage.
According to data from XRPScan, the number of unique daily active wallets on the XRP Ledger rose from approximately 23,000 to nearly 39,500 by June 27. A separate metric from the CoinMarketCap community recorded 4,941 new XRP wallets created in a single day—the highest daily network growth in three months. These multiple data sources point to the same pattern: rising participation even as XRP price remains range-bound around the $1 support level.
At the same time, open interest on XRP futures across major exchanges plummeted from a peak above 1.3 billion to below 150 million—the lowest since July 2025. Funding rates have turned negative, further reducing the risk of forced liquidations. CoinDesk’s technical analysis describes the current setup as cleaner than it has been in months, noting that the deleveraging makes on-chain and spot signals easier to interpret without the noise of unstable leverage.
Additional demand-side support is coming from XRP spot ETFs, which recorded their eighth consecutive week of inflows, pushing cumulative net inflows to $144.7 million. In contrast, Bitcoin ETFs saw $444.5 million in outflows and Ethereum ETFs lost $12.9 million over the same period, according to Glassnode data. This divergence suggests relative strength for XRP against the broader crypto market.
However, the price has not yet confirmed a breakout. XRP remains below resistance near $1.10, with stronger hurdles at $1.20 and $1.30. A break below $1.00 could expose support around $0.90–$0.87. Analysts caution that rising address activity does not guarantee sustained buying pressure—it can include exchange movements or automated transactions. But the simultaneous reduction in leverage makes the on-chain growth a more interesting signal than if both were spiking together. Traders will watch whether address activity holds and whether spot demand follows through.
