XRP is attracting fresh market attention after a sharp rise in network activity, even as the cryptocurrency continues to trade close to an important support level. Data from Santiment showed daily active addresses increased from about 23,000 on June 14 to nearly 39,500 by June 27.
Technical signals remain mixed. XRP still trades below key moving averages although some chart patterns suggest selling pressure may be starting to ease. Market participants are now watching whether buyers can defend support around the $1.04 to $1.06 range.
Daily active addresses climbed by roughly 72% over two weeks, according to data shared by crypto analyst Ali Martinez, based on Santiment metrics. The increase reflects more wallets interacting with the XRP Ledger during a period when the token continued trading near $1.05. Higher blockchain activity suggests that more users are active on the network.
In addition, market analysts point to accumulation by large holders during the recent market decline. However, weak sentiment across the broader cryptocurrency market has continued to weigh on XRP. Furthermore, the token remains well below the price levels it traded at earlier this year.
Some analysts stated that XRP price may be forming a base instead of extending its decline. They noted that holding above the psychological $1 support remains important for the current market structure.
Several technical indicators now suggest that selling pressure may be slowing. Analysts identified a Tom DeMark Sequential buy signal together with a Morning Star Doji pattern on the daily chart. These formations often appear after extended declines although they do not guarantee a reversal.
Analysts also noted that XRP needs to establish support between $1.07 and $1.10 before buyers can target higher resistance levels.
A sustained move above that range could shift attention toward $1.15, followed by $1.21 and possibly $1.30 if buying volume strengthens.
The Relative Strength Index has also moved closer to oversold territory. Crypto analyst CryptoLlica said the indicator reached its lowest reading in more than 13 years. According to the analyst, "the RSI has reached its most oversold level since XRP launched."
Market participants continue monitoring whether this condition leads to renewed buying interest.
Despite these signals, XRP remains below its 50-day and 200-day simple moving averages. These levels indicate that the broader trend has not yet turned bullish.
Open interest in XRP derivatives has declined from about $1.18 billion to nearly $1.04 billion. Funding rates have also turned negative after recent long liquidations reduced leveraged positions. Analysts said the reset could reduce downside pressure if spot demand improves.
Technical indicators still show limited momentum. The MACD remains close to neutral, while the Stochastic Oscillator and Ultimate Oscillator suggest the market has not yet established a clear direction. As a result, traders continue watching the $1.04 to $1.06 support zone for confirmation of the next move.
Market forecasts also remain conditional. According to an analysis, "if XRP holds above the $1 support while network activity continues rising, the price could move toward the $1.20 to $1.35 range." The same outlook noted that a break below $1 would weaken the recovery scenario.
Beyond price action, analysts are also monitoring developments surrounding tokenized real-world assets. Reports estimate that the XRP Ledger hosts about $330 million in tokenized RWAs, while Stellar manages a much larger share of that market.
Traders are also watching the proposed CLARITY Act in the United States which could become another factor influencing institutional sentiment if lawmakers advance the legislation in July.
Also Read: Is XRP’s 200-Day Average the Key Level Separating Recovery From a Breakdown?