XRP Flirts With $1 Despite Record Network Growth and ETF Inflows
Key Facts
Amid persistent uncertainty in crypto markets, XRP is flirting with the psychologically key $1 level after hitting a 19-month low near $1.01, per Benzinga data. The decline comes despite the network recording a three-month high in new wallet creation and eight straight weeks of spot ETF inflows — a disconnect between improving fundamentals and falling prices.
This divergence suggests selling pressure or macro headwinds are outweighing positive on-chain signals. While activity indicators rose, the price failed to benefit, reinforcing expectations that $1 may be tested as major support. The moves come as markets await US monetary policy cues.
Investors are eyeing recent US inflation data, which showed the Super Core PCE year-on-year rate rose to 3.94% on June 25, per market data, from 3.56% previously, potentially fueling a hawkish Fed stance. Meanwhile, Q1 GDP growth came in stronger than expected at 2.1%, underscoring economic resilience and adding pressure on risk assets like cryptocurrencies.
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In a fresh development that strengthens the fundamental picture, XRP reserves on Binance dropped to a four-month low, signaling tightening supply on the largest exchange. Meanwhile, Ripple's RLUSD stablecoin is gaining momentum in Indonesian markets, reflecting expanding network utility. These positive indicators add to the contrast between strong fundamentals and price weakness.