XRP has remained trapped around the $1.10 level after successfully defending the key $1.00 support during the recent market downturn. While on chain activity on the XRP Ledger has weakened considerably in recent weeks, some analysts believe the current consolidation could lay the foundation for a much larger move.
XRP Ledger Activity Drops to Multi Month Lows
Earlier this year, the XRP Ledger continued to post strong network growth despite XRP’s underwhelming price performance. Data from Messari showed improving fundamentals, driven by increasing stablecoin adoption, real world asset tokenization, and higher transaction volumes.
More recent figures from Santiment, however, paint a different picture.
According to the analytics firm, activity on the XRP Ledger has slowed significantly as XRP continues to trade between roughly $1.05 and $1.15 without establishing a clear trend.
The network recently recorded just 25,350 active wallets, marking its second weakest day of the year. New wallet creation also declined to only 2,130, the lowest level seen in nearly two years.
Santiment believes the slowdown reflects investor caution rather than a loss of interest, suggesting that market participants are waiting for a stronger catalyst instead of reacting to short term price fluctuations following the buying activity seen in late June.
Despite the weaker network metrics, the firm remains optimistic about XRP’s longer term outlook. It highlighted several potential growth drivers, including the continued expansion of RLUSD, increasing tokenized asset activity, institutional payment adoption, and the future rollout of lending services, all of which could help attract users back to the network if momentum returns.
Analysts Highlight a Critical Support Area
Crypto analyst EGRAG CRYPTO believes XRP is currently trading within one of its most significant long term accumulation zones, which spans approximately $0.85 to $1.20.
According to the analyst, this price range has repeatedly served as a major support area throughout previous market cycles. Although EGRAG does not rule out another decline toward $0.85, such a move would still fit within the broader bottoming structure and could present another accumulation opportunity before a larger recovery.
Looking higher, the analyst identified $1.65 as the first major resistance level. A decisive breakout above that price could open the door for a rally toward the $3.00 to $3.50 region.
Beyond that, EGRAG outlined an ambitious long term target of $15 as a potential full cycle objective. While that scenario remains highly speculative at current price levels, the analyst believes it could become achievable if XRP enters a sustained bullish phase supported by stronger market conditions and improving ecosystem adoption.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
