XRP holds $1 support as network activity jumps and leverage clears
XRP holds above $1 as network activity surges 72% in two weeks and open interest drops sharply, signaling reduced leverage and potential for a move toward $1.10.
XRP has held above the $1 support level as network activity surges and leveraged positions clear out, giving traders a cleaner setup for a potential recovery.
The token edged higher during the session, maintaining the psychologically important $1 mark. Daily active addresses on the XRP Ledger rose from 23,000 on June 14 to nearly 39,500 by June 27, a 72% increase in two weeks. Meanwhile, open interest across major exchanges fell below 150 million from a peak of 1.3 billion, removing a large share of the leveraged positioning that had built up during XRP's earlier rally. ETF inflows have also continued, adding to the positive sentiment.
For crypto traders, the combination of rising on-chain activity and declining leverage is often seen as a bullish signal. Lower open interest means less risk of a cascading liquidation event, while growing network usage suggests organic demand. The clearing of crowded leverage removes a key headwind that had amplified the selloff from XRP's highs. Traders can monitor real-time XRP prices on NowPrice to track whether the improving fundamentals translate into price momentum.
Looking ahead, the key level to watch is $1.10. A decisive break above that resistance could open the door to further gains, while a failure to hold $1 might invite renewed selling. The next catalyst could be sustained ETF inflow data and continued growth in active addresses. Traders should also watch for any shifts in broader crypto market sentiment, as XRP's move is occurring against a backdrop of improving network metrics and reduced speculative excess.