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XRP (XRP) may have just endured one of its weakest monthly performances in nearly two years, but onchain data suggests investors are becoming increasingly confident that the sell-off is nearing exhaustion.
While the token briefly slipped to a 19-month low of $1.01 on June 25 and ended June down roughly 20%, several blockchain metrics point to growing underlying demand.
Network activity, whale accumulation, improving social sentiment, and sustained institutional inflows are all moving in the opposite direction from the price. That divergence has caught the attention of analysts, who argue that XRP is exhibiting characteristics often associated with accumulation phases rather than prolonged distribution.
The key question now is whether these bullish onchain signals can eventually translate into sustained buying pressure or whether they simply reflect another short-lived wave of optimism in a fragile market.
One of the strongest signals comes from XRP Ledger network growth.
According to Santiment, the network added 4,941 new wallets in a single day, marking the largest daily increase in approximately 14 weeks. Such spikes in wallet creation are often viewed as an indicator of new participants entering the ecosystem, particularly when they occur during periods of depressed prices.
BOOM! 🚨🚨🚨 $XRP DeFi is growing, and no bear market can stop it.
The new financial era is already here.
Look at the climb. Back in September 2025, activity was almost nonexistent.
Today, over 145 million FXRP sits locked in DeFi, a 95.6% lock rate, worth more than $152… https://t.co/pUjxknQHmS pic.twitter.com/0CetTexUfY
— X Finance Bull (@Xfinancebull) June 30, 2026
At the same time, social sentiment has turned increasingly optimistic. Santiment data shows positive XRP commentary reached a ratio of roughly 3.7 bullish comments for every bearish one, representing the highest level of optimism in three months.
The combination suggests many traders view the $1.00-$1.05 area as an attractive accumulation zone despite the broader weakness across the cryptocurrency market.
Part of this optimism continues to stem from expectations surrounding XRP exchange-traded funds (ETFs), Ripple’s expanding institutional presence, and the perception that large holders remain confident enough to continue accumulating during price declines.
Historically, periods where network growth accelerates while prices remain under pressure have sometimes preceded stronger recoveries, although they can also represent temporary spikes driven by fear of missing out (FOMO).
Perhaps the most compelling bullish signal comes from XRP’s largest holders.
Santiment data shows that whale wallets accumulated about 210 million XRP in June even as the token declined by around 21%.
The largest accumulation occurred among wallets holding between 10 million and 100 million XRP, which collectively added around 160 million tokens over the month. Meanwhile, addresses holding between 100,000 and 1 million XRP accumulated another 30 million XRP, while wallets containing between 1 million and 10 million XRP added about 20 million tokens.
The coordinated accumulation across multiple large-holder cohorts suggests that experienced investors viewed June’s correction as a buying opportunity rather than a reason to reduce exposure.
Exchange flow data also supports that narrative. XRP has continued experiencing negative exchange net flows, indicating investors are moving tokens off trading platforms into private wallets, a trend commonly associated with longer-term holding rather than immediate selling.
While whale accumulation alone does not guarantee higher prices, sustained buying by large holders has historically provided support during extended market corrections.
Institutional positioning has also remained surprisingly resilient.
Spot XRP ETFs in the US extended their positive streak with eight consecutive weeks of net inflows, attracting $22.99 million during the previous week before adding another $15.34 million at the start of the new week.
That performance stands in sharp contrast to Bitcoin (BTC) and Ether (ETH) ETFs, which have experienced persistent outflows over recent weeks as investors reduced exposure to the two largest cryptocurrencies.
5/6 The URPD shows that $1.06 is key support floor for $XRP.
• If it holds: The daily buy signal is validated, suggesting a rebound to $1.27 and $1.35.
• If it breaks: A daily close below $1.06 may trigger a deeper flush toward $0.80, $0.62, or $0.51.https://t.co/gBeWsyJ35N— Ali Charts (@alicharts) June 30, 2026
Meanwhile, Ripple completed its scheduled monthly escrow release on July 1, unlocking 1 billion XRP through three transactions totaling 200 million, 300 million, and 500 million tokens.
Although the headline figure appears substantial, Ripple has historically re-locked between 600 million and 800 million XRP shortly after each monthly release, leaving a net increase in circulating supply of roughly 200 million-300 million tokens.
For now, the market appears to be focusing less on the predictable increase in supply and more on whether improving onchain activity, whale accumulation, and institutional demand can offset broader macro weakness.
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