XRP Buyers Dig In as Price Hangs on Key Support

XRP's price has been stuck in a narrow trading range between $1.05 and $1.15, but recent data suggests that buyers are still in control.

The decline in Binance exchange activity from 650,000 to 350,000 daily deposits and withdrawals is a positive sign for XRP, as it indicates lower selling pressure and more investors holding onto their positions rather than actively moving funds.

Furthermore, the Network Value to Transaction (NVT) Ratio has climbed 144.21% to 697.6 over the past day, which suggests that XRP's market capitalization is expanding faster than its on-chain transaction volume.

This divergence typically reflects growing investor confidence, but it also raises concerns about whether price appreciation is outpacing actual network usage.

Derivatives traders are maintaining a bullish outlook, with funding rates rising 52.16% to 0.008685 over the last 24 hours, indicating that long-position holders are willing to pay a premium to keep their exposure open.