XRP's Price Stuck at $1 Despite Record Network Activity
XRP's price has been stuck at around $1 despite several positive indicators. Network activity on the XRP Ledger (XRPL) has rebounded, with a record 49,929 active addresses in a 24-hour period. This is higher than the 48,453 recorded when XRP traded above $1.54 in May.
Large holders, or 'whales', have been sending less XRP to Binance, with the three-month average of whale inflows falling to its lowest level since 2021. Meanwhile, derivatives positioning in XRP has increased, with Bybit's 30-day change in XRP open interest reaching a record high.
However, fresh investment demand for XRP remains weak, with US-listed ETFs attracting only modest new money as the token struggles around $1. The pace of new institutional capital entering the market has declined significantly over the past three months, alongside XRP's price retreat.