XRP is showing early signs of a possible rebound as network activity and investor sentiment continue to improve despite recent price weakness.
The digital asset has managed to stay above the key $1.00 support level and is currently trading around $1.04. This comes after XRP dropped to a 19 month low near $1.01 on June 25.
Although price action remains under pressure, data from Santiment suggests interest in the XRP Ledger is growing.
Rising Wallet Activity Signals Renewed Interest
According to recent figures, the XRP Ledger recorded 4,941 new wallet creations in a single day, marking its strongest network growth in more than three months.
This increase suggests new participants are entering the ecosystem even as XRP trades near recent lows.
Investor sentiment has also shifted in a more positive direction. Santiment reported that bullish commentary now outweighs bearish sentiment by 3.7 to 1, the strongest positive ratio seen in three months.
This growing optimism indicates that many traders view the $1.00 to $1.05 range as an attractive buying zone, fueling renewed fear of missing out among market participants.
Santiment noted that this confidence is supported by several factors, including XRP’s history of bouncing back after sharp declines, continued discussions surrounding exchange traded funds, and growing expectations for institutional adoption.
Another important factor is whale accumulation, as larger holders appear to have continued buying during the recent downturn. However, Santiment cautioned that it remains unclear whether the spike in wallet creation will translate into sustained buying pressure or if it reflects short term speculation driven by FOMO.
Whale Activity and Institutional Interest Grow
Separate data from CryptoQuant shows that whale activity is becoming increasingly active across centralized exchanges.
However, this activity appears less concentrated on Binance, suggesting large investors are spreading their trades across multiple platforms rather than relying on a single exchange.
Despite XRP’s price struggles, institutional interest remains strong.
Spot XRP exchange traded funds in the United States recorded $15.34 million in net inflows on June 29.
The Bitwise XRP ETF attracted the largest share with $11.94 million in inflows, while Canary Capital’s XRPC fund brought in $3.40 million.
Total inflows for June have now exceeded $62 million, pushing cumulative net inflows across all US spot XRP ETFs to approximately $1.48 billion, according to data from SoSoValue.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
