XRP Price Holds Above $1 as Whale Activity and Wallet Growth Signal Accumulation

XRP is showing early signs of accumulation above the critical $1 support level, even as its price action remains below key technical resistance. While the token posted only modest gains over the past 24 hours, rising network activity, increasing whale participation, and steady ETF inflows suggest buyers are gradually building positions.

The XRP Ledger recorded 4,941 new wallet creations in a single day, marking the strongest daily increase in more than three months. The surge in new addresses points to renewed user interest and growing network adoption, factors that often support long-term price strength.

On-chain data from CryptoQuant also revealed stronger activity from large investors. The All CEX Whale vs. Retail Spread climbed to 50.9%, while Binance's reading reached 44.6%, indicating whales were more active than retail traders, who remained relatively cautious. This divergence is often viewed as a sign that institutional or large holders are accumulating before broader market participation returns.

Institutional demand also remained positive. Spot XRP exchange-traded funds attracted $15.34 million in net inflows on June 29, with Bitwise contributing $11.94 million. Total XRP ETF inflows for June exceeded $62 million, lifting cumulative net inflows to approximately $1.48 billion.

XRP traded at $1.0613 at the end of the 24-hour session on July 2, gaining 1.41%. Despite the advance, the cryptocurrency still lagged the broader digital asset market by 1.27%, highlighting that buyers have yet to generate a decisive breakout.

The strongest buying activity emerged at 03:27 UTC when XRP broke above $1.0560. Trading volume surged to 5.34 million during that hour, representing a 1,433% increase compared with the previous hourly average. Buying momentum continued through the following half hour, with cumulative volume reaching 11.31 million as XRP climbed to an intraday high near $1.0665.

From a technical perspective, XRP continues to establish higher lows above the psychologically important $1.00 support level. Recent lows around $1.0318 and $1.0410 have created a stronger base for the current recovery attempt, suggesting sellers are gradually losing control.

The move above $1.0560 improved the short-term chart structure, but bulls still need to push XRP above $1.0665 to confirm stronger upside momentum. Without additional buying pressure, the latest rally could become another short-lived bounce within a broader trading range.

Volume also presents a mixed picture. Although breakout activity was impressive during the key buying window, overall 24-hour trading volume was only 5.95% above the seven-day average, indicating that market participation has not yet reached levels typically associated with a sustained trend reversal.

XRP also remains below several important moving averages. The 20-day exponential moving average sits near $1.11, followed by the 50-day EMA around $1.20, the 100-day EMA near $1.31, and the 200-day EMA around $1.52. Until these levels are reclaimed, the broader trend remains under pressure.

Momentum indicators are beginning to recover from oversold conditions, but they have not fully turned bullish. The Relative Strength Index remains near 33, while the Chaikin Money Flow indicator is still negative, suggesting buyers are improving but have not completely regained market control.

Traders will closely watch whether XRP can hold the immediate breakout zone between $1.0560 and $1.0590. The next important resistance remains $1.0665, followed by the critical $1.10 to $1.11 region, where the 20-day EMA and Bollinger Band midline converge. A successful move above $1.10 could open the door toward $1.20, while a break below $1.04 would place the key $1.00 support level back under pressure. For now, XRP remains in a support-building phase, supported by improving on-chain metrics, growing whale accumulation, and steady ETF inflows, but a confirmed recovery will require a sustained breakout above resistance.