XRP price risks 16% drop as ledger activity slows, ETFs add $21M

XRP is trading about 40% below its yearly high as on-chain activity on the XRP Ledger cools and technical readings remain soft. Exchange-traded funds tied to XRP took in $21 million on Wednesday, lifting year-to-date net inflows to $643 million.

The token peaked near $3.66 in July and changed hands around $2.20 this week. The pullback has unfolded over the past few months alongside slower usage on the underlying ledger, which handles payments and token issuance.

Recent network data indicate a decline in engagement. Active users have eased to roughly 218,000 from a monthly high near 254,000. Active accounts on the ledger have slipped below 20,000. Fee activity is lighter as well: total XRP destroyed through transaction fees fell below 500 tokens on Thursday, pointing to lower on-chain demand than in recent months.

Liquidity anchored to applications on the network has also moderated. The XRP Ledger’s total value locked is about $207 million. TVL is a proxy for assets deposited in decentralized finance and can indicate activity in lending, trading, and tokenized assets.

Some areas are expanding. The market value of Ripple USD (RLUSD) is above $1.2 billion, and RLUSD usage on the XRP Ledger has grown by more than 90% over the past 30 days. ETF demand has remained positive this week, with $21 million of net additions on Wednesday.

Price signals skew cautious. Since July, XRP has posted a sequence of lower highs and lower lows. It trades below its 50-day and 100-day exponential moving averages and below the Supertrend indicator. Chart watchers point to this month’s low near $1.82 as a level in focus, around 16% under recent prices. A move back above the short- and longer-term moving averages would put the token over commonly watched thresholds.

XRP’s market capitalization stands near $23.66 billion after the recent decline. Market participants are tracking on-chain activity, ETF flows, and whether price can reclaim key moving averages that have capped rebounds in recent weeks.

As GNcrypto covered previously, Bitwise listed the first spot XRP ETF on the NYSE under the ticker XRP. The fund directly holds XRP and charges a 0.34% annual fee, waived at launch for the first month on the initial $500 million in assets, and began trading with about $2.3 million in seed capital from market makers and authorized participants. Bitwise said XRP’s status had been clarified by regulators. The firm, which manages more than $15 billion, has expanded its lineup beyond bitcoin and ether, including BSOL and filings for spot Chainlink and HYPE token ETFs.