The Crypto Basic

XRP is seeing a boost in on-chain activity despite its price underperformance, fueling speculations of an imminent price move.

June marked the biggest monthly correction for XRP since February 2025. The token declined by 22% last month, continuing its retest of lower prices after hitting a peak of $3.66 in July 2025. Nonetheless, while prices remain weak, recent on-chain activity is feeding the optimism that things might temporarily change for the good.

New XRP Wallets Spike

Santiment data shows that new wallet creations on the XRP Ledger recently spiked. In a single day, 4,941 new addresses were added to the network, the highest level of adoption and user traction in 14 weeks.

Accompanying this is the surge in bullish sentiment. Per Santiment, there were 3.7 bullish XRP comments per 1 bearish XRP comment on social media. Interestingly, the ratio of XRP positive to negative comments is at a 3-month high, with market participants viewing the current dip as a buying opportunity.

The combination of rising new wallet creation and bullish sentiment suggests dip buying. The current level near the $1 support appears compelling because of its favorable risk-to-reward, so users appear to be loading up the asset.

Also, a surge in daily active XRP addresses further confirms this renewed momentum on the XRP Ledger. Recent data shows a 36% increase in the number of addresses active on the Ledger per day, reinforcing network growth. While some analysts claim it could be whales selling, on-chain data continues to reveal that it might be a dip-buying attempt.

XRP Clings to $1 Despite Strong ETF Inflows

Another positive for XRP is the persistent inflows from the US XRP spot ETFs. The Bitcoin and Ethereum spot ETFs have struggled lately, but capital seems to be rotating into the XRP funds, reflected in their outperformance.

Although the XRP ETFs recorded an outflow of $2.83 million on June 30, it was only their second net daily outflow of the month. Institutional traction remained consistent for the investment vehicles in June, resulting in a net inflow of $59.5 million. BTC and Ether ETFs recorded net outflows of $4.51 billion and $529 million during the same period.

However, the XRP price continues to trade near the $1 support, with very little upward momentum. Analysts are now closely observing if these bullish factors will start to reflect in the asset’s price action.

From a technical perspective, XRP trades below the 20-day EMA at $1.10 and the 50-day EMA near $1.20. These two levels are the critical resistance to watch should the price start to move on the network growth and ETFs demand catalysts. Reclaiming these levels opens the path to reaching the 100-day and 200-day EMAs at $1.30 and $1.51.

Downward risks remain despite the optimistic developments. Losing the $1 support, if bears continue to control prices, could see XRP reach lower prices. The $0.80 and $0.62 supports come into focus in this event.

The XRP Ledger has recorded more than 6,000 newly activated addresses in a single day for the first time in over three months, as network activity returns.

This development comes even as broad market selling pressure continues to weigh on XRP’s price, pushing it to new yearly lows. After climbing back to $1.29 in mid-June, XRP followed the wider market downturn, eventually falling to a new yearly low of $1.00795 by June 26.

XRP Sees 3-Month Peak in New Daily Addresses

Interestingly, while the price continues to struggle near the lower end of the key $1 psychological level, currently trading around $1.04, activity on the network appears to be gaining momentum again. 

Data from XRPScan, a leading XRP Ledger (XRPL) block explorer, shows that the network recorded exactly 6,221 new addresses on June 30. 

For context, this figure represents a new three-month high in daily XRP address creation, suggesting that on-chain adoption may be starting to recover.

The last time the XRP Ledger recorded more than 6,000 new addresses in a single day was on March 19, when it added 8,817 wallets, which remains the second-highest daily total so far this year.

Building on a Growing Trend

What stands out is that the recent surge above 6,000 addresses appears to be part of a broader upward trend in network activity and adoption, following several weeks of relatively subdued growth.

After reaching the 8,817 peak on March 19, the XRP Ledger went on to record an average of about 2,400 new wallets per day from March through late June. 

During this period, the highest single-day total was 4,131 addresses on May 20, which appears to have been a short-lived spike rather than the start of a sustained increase.

However, beginning on June 24, daily address creation started to pick up again, showing consistent growth that led to the latest surge above 6,000. Specifically, the network added 3,185 new addresses on June 24, followed by 3,720 on June 25, and then 3,761 on June 26.

Although there was a slight pullback to 3,287 on June 27, the upward momentum returned, with new addresses rising to 3,803 on June 28 and then reaching a three-month high of 4,575 on June 29. This gradual build-up ultimately led to the jump to 6,221 addresses recorded yesterday 

Total XRPL Addresses Approaching 8M

Amid this renewed activity, data from XRPScan shows that the total number of activated wallets on the XRP Ledger is now approaching the 8 million milestone, currently standing at 7.968 million at the time of writing.

At the start of June 2026, this figure was 7.893 million, which confirms that the network added nearly 74,500 new wallets over the course of the month. This was an improvement compared to the roughly 69,000 wallets added in May 2026.

Overall, the total number of activated XRPL addresses has increased from 7,466,236 at the beginning of the year to 7,968,015 at present, showing that the network has added more than 501,000 new addresses in the first half of the year, with an average monthly increase of about 83,629 wallets.

The recent surge in XRP network activity appears to be large-scale holders distributing their stash rather than accumulating, according to analysis.

A recent report from The Crypto Basic confirmed that active XRP addresses have surged 36% in the past two weeks. The number of daily users on the XRP Ledger moved from 27,205 to 37,202 addresses, suggesting growing network adoption.

However, while this appears bullish, recent analysis tells a different story. Rather than a positive signal, there could be a bearish development beyond the surface.

XRP Whales’ Sales Behind Network Spike

An analysis from Ali Martinez suggests that the spike in active addresses could be whales actively distributing their holdings. According to him, the increased activity came from large holders moving their funds to exchanges for possible sales.

He highlighted a previous tweet showing that whales distributed over 30 million XRP tokens during the period when the network activity spiked. This supports the narrative that the active addresses were likely whales reactivating to sell amid the persistent price downside.

However, several on-chain data points conflict with this. Coinglass XRP spot flows show that over the past 15 days, more coins have left exchanges than flowed in. Outflows stood at $1.43 billion and inflows at $1.35 billion, culminating in a net of $74 million withdrawn within the period.

Additionally, exchange reserves seem to be dropping too. On Binance, XRP’s reserve dropped to a 4-month low, showing that holders are moving their stash off exchanges. Recent data indicates that whales are responsible for most of the transfers, another bullish indicator.

XRP Gearing Up for a Decisive Move

Over the past few days, several indicators have been pointing to an impending price move in the XRP price. On Monday, The Crypto Basic highlighted a combination of the TD Sequential, falling channel, and morning star Doji as indications of an imminent rebound.

However, prices have not been moving in one direction lately. After a 1% increase yesterday appeared to be setting an uptrend in motion, XRP has dropped 1.40% so far today, relinquishing all of its gains yesterday.

Around the current price of $1.04 are two critical levels ahead. If a short-term rebound occurs, XRP could target the resistance at $1.27 and $1.35, where large amounts of tokens were moved according to URPD data.

On the contrary, losing the $1 support opens the path for a deeper correction to $0.80 and $0.62, where 923 million XRP and 1.16 billion XRP changed hands, respectively.