XRP holds US$1.04 as wallet growth accelerates
- XRP remained above US$1.00 as new wallet creation reached a three-month high and bullish social sentiment increased.
- US spot XRP ETFs attracted US$15.34 million in daily net inflows despite continued price weakness.
- Analysts said sustained buying demand, rather than short-term optimism, will determine whether XRP can recover.
XRP (CRYPTO:XRP) traded near US$1.04 after recovering from a 19-month low of about US$1.01, while new wallet creation on the XRP Ledger rose to 4,941 in a single day, its highest level in more than three months.
The increase in network activity comes despite recent price weakness, with market data showing investors continued adding exposure while XRP held above the key US$1.00 support level.
According to Santiment, “it remains important to see whether the surge in new wallets develops into steady buying demand or proves to be only short-term FOMO.”
Santiment said the ratio of bullish to bearish social commentary rose to 3.7-to-1, the highest level in three months, while attributing investor optimism to XRP's history of rebounding after sharp declines, ongoing discussion around exchange-traded funds and institutional adoption, and continued accumulation by larger holders.
Separate data from CryptoQuant indicated that large investors are spreading trading activity across multiple centralised exchanges rather than concentrating activity on a single platform, while as XRP is a cryptocurrency there was no share price reaction.
Institutional demand also remained positive, with US spot XRP exchange-traded funds recording US$15.34 million in net inflows on 29 June, including US$11.94 million into the Bitwise XRP ETF and US$3.40 million into Canary XRPC.
According to SoSoValue, total net inflows into US spot XRP exchange-traded funds exceeded US$62 million during June, lifting cumulative net inflows to approximately US$1.48 billion despite the token's recent decline.
At the time of reporting, XRP price was $1.04.
