XRP Shows Signs of Recovery, But Ledger Metrics Raise Concerns
XRP is climbing back from recent lows, trading at $2.25. This marks a 3.8% increase over the past day. The price is near the top of its weekly range, between $2.09 and $2.29.
Interest in XRP is growing, with 24-hour trading volume reaching $2.65 billion—a 180% jump from the previous day. This surge in volume, coupled with price gains, suggests traders are more confident.
derivatives activity is also on the rise.Coinglass data shows XRPS futures volume has spiked 201.98% to $4.82 billion. Open interest has risen 11.48% to $4.09 billion. This indicates more traders are betting on future price movements.
Though, not all signs are positive. On-chain activity is declining. XRP Scan data shows payments between accounts have dropped from nearly 900,000 to about 600,000 since the start of June. Transactions have also fallen from 1.5 million to just over 1.1 million.
The number of active addresses is now below 20,000. These metrics reflect user engagement and network utility. Their decline may signal weakening demand, despite the price rise.
Technically, XRP is holding above a key support level of $2.08. If it breaks above $2.25, it could reach $2.42. if it fails, a retest of $2.08 is possible, with a potential drop to $2.05–$2.00.
While XRP is trending up, its relative strength index is still neutral. Until on-chain metrics improve, price gains may be fragile.
