XRP holds above $1 after leverage flush as network activity improves
CoinDesk 2026-07-01 05:30:16
Context: The price of XRP has managed to stay above $1 following a significant reduction in leverage, accompanied by an uptick in network activity. This development comes after open interest in XRP had reached high levels last year, which have since decreased. The improvement in network activity is indicated by an increase in active addresses and inflows into XRP-related exchange-traded funds.
Key Facts
- Open interest in XRP has collapsed from its highs last year, indicating a substantial reduction in leveraged positions in the market.
- The number of active addresses on the XRP network has risen, suggesting an increase in user engagement and activity within the ecosystem.
- Despite holding above $1, XRP still needs to surpass the $1.10 mark to demonstrate a clearer and more positive chart trend.