I just looked at the XRP chart and saw something quite interesting — ETF fund flows are still coming in, but the price is still under strong pressure. Whatever that is — if ETF capital is still staying positive, why is the price continuing to sink deeper? The answer lies in on-chain and derivatives data, not in that long-term fund flow.

Looking at the indicators, XRP network activity is clearly declining — the number of daily active addresses has fallen to around 19,000, showing that real demand is weakening. In addition, the buy/sell ratio on derivatives exchanges has been consistently below 1, meaning sell orders are always dominant. Every time there’s a rebound, it gets dumped instead of bought, and open interest has dropped from $3 trillion to below $1 trillion — this indicates that traders are stepping back rather than accumulating.

Currently, XRP is at $1.32, but the $1.78 level is an important support zone that needs to hold. If it breaks below that, a large liquidity gap will become apparent, and the next demand zone lies at $1.00–$0.80. The one-year data shows XRP has fallen by 34.77%, so the risk remains quite high. Despite alternating positive news, the short-term market structure is still tilted bearish. Until genuine demand returns and selling pressure eases, the $1 mark remains a psychological zone that needs to be closely monitored.