XRP has traded in a narrow range near $1.10 since defending the $1.00 support level during a broader market crash weeks ago. On-chain data reveals a significant decline in network activity, with new wallet creation hitting its lowest point in nearly two years. Analysts point to a key macro support zone between $0.85 and $1.20, while noting that a potential rally faces its first major resistance at $1.65.
XRP has stagnated around $1.10 ever since it defended the $1.00 support a few weeks ago during the darkest hours of the overall market’s crash. Worrisome on-chain data shows that demand for the XRP Ledger has dwindled lately.
Network activity on Ripple’s XRP Ledger has “gone unusually quiet” in recent weeks, while the token’s price fails to break out of the $1.05-$1.15 range. The network registered only 25,350 wallets, which became the second-lowest day of the year. New wallet creation dropped to 2,130, the lowest level in almost two years.
“After late-June dip-buying excitement, this looks like traders are waiting for a real catalyst instead of chasing another small bounce,” Santiment said. The company remains optimistic about XRP’s future due to other ecosystem factors.
Santiment added that XRP still has several “potential sparks beyond” price alone, such as RLUSD’s growth, tokenized-asset activity, and institutional payment use cases. These factors, combined with possible lending tools, could “bring users back on-chain if momentum improves.”
Analyst EGRAG CRYPTO explained that XRP is currently trading inside what has historically been one of its most important accumulation zones, stretching between $0.85 and $1.20. EGRAG argued that this range has repeatedly acted as macro support during previous market cycles.
The analyst still believes a dip to $0.85 is possible, but expects it to bounce and keep the broader bottoming structure intact. The first major resistance in XRP’s path forward is at $1.65, according to EGRAG.
If that level is broken, the token can head toward $3.00-$3.50. The ultimate goal, described as “the full cycle expansion target,” would be $15.
