XRP (XRP) is holding above the $1.00 support zone amid a broader downturn. Yet, on-chain activity is rising. 

New wallet, whale, and exchange-traded fund (ETF) activity suggest users are stepping in while the price looks fragile, pointing to demand below the surface.

XRP Price Slump Meets Steady Demand

XRP, like the broader market, has seen notable declines this month. The altcoin touched a 19-month low of $1.01 on June 25. It now trades near $1.05, down 0.18% over the past day.

Yet, on-chain data paint a different picture. Santiment reported that the XRP Ledger added 4,941 new wallets in a single day, marking its strongest network growth in more than three months.

Social sentiment has also flipped bullish. The positive/negative social ratio reached 3.7 positive comments for every bearish one, a three-month high in FOMO, according to Santiment. Traders appear to treat the $1.00 to $1.05 band as a dip-buy area.

“Part of this optimism comes from XRP’s familiar rebound history, ongoing ETF and institutional narratives, and the idea that larger holders have continued building exposure even during ugly price action,” the firm said.

On-Chain Signals Point to Accumulation

On-chain data support that view. Santiment data shows accumulation across all three large cohorts in June despite a 21% price dip. The 10 million to 100 million XRP tier led with 160 million XRP added, the strongest bullish signal of the group.

Smaller cohorts followed. Wallets holding 100,000 to 1 million XRP added 30 million tokens, while those holding 1 million to 10 million XRP gained 20 million tokens. This suggested that large holders continued to accumulate despite the decline.

Institutional demand has also remained resilient. US spot XRP exchange-traded funds (ETFs) attracted $22.99 million in net inflows last week, extending their inflow streak to eight consecutive weeks. 

The new week also began on a positive note, with the funds recording $15.34 million in net inflows on Monday. This trend stands in sharp contrast to Bitcoin and Ethereum ETFs.

Bitcoin ETFs have recorded seven consecutive weeks of net outflows totaling approximately $7.7 billion. Investors pulled another $231 million on Monday.

Ethereum ETFs have also experienced consecutive weekly outflows. XRP ETFs, by contrast, have not recorded a single day of net outflows since June 3, although several sessions have ended with flat flows.

Santiment said the open question is whether this wallet surge converts into sustained buying pressure or fades as short-term FOMO. With XRP sitting so close to $1.00, the coming sessions should reveal which way the on-chain demand breaks.

Source: BeInCrypto