XRP Consolidates Near $1.10 as Ledger Upgrade Nears Completion and ETF Inflows Snap Eight-Week Streak

XRP remains near $1.10 despite whale withdrawals and a major ledger upgrade; ETF inflows streak breaks with $7.29M outflow, while technical indicators show neutral momentum.

XRP is flashing contradictory signals. The underlying XRP Ledger is on the verge of activating a major software upgrade, whales are pulling tokens from exchanges at an accelerated pace, and Ripple just secured a new regulatory licence in Europe. Yet the token itself remains stubbornly anchored near $1.10, unable to escape a weeks-long consolidation that has left it nursing a 41% year-to-date decline.

The digital asset changed hands at $1.10 late on Sunday, a level that sits barely 8.7% above its 52-week low of $1.01, which was touched on June 26. On a seven-day basis XRP has eked out a marginal gain of roughly 1.3%, but the monthly picture is weaker at minus 3.3%. Compared with last year’s high of $3.65 – reached in July 2024 – the current price represents a drop of nearly 70%.

Technically, the market remains directionless. The relative strength index hovers at 45, a neutral reading that signals neither overbought nor oversold conditions. All major moving averages sit above the spot price: the 50-day average is $1.17, the 100-day at $1.28, and the 200-day at $1.46. Traders are therefore watching a narrow band of support and resistance: a break above the $1.10–$1.11 zone, where the 20-day exponential moving average also resides, could open a path toward $1.20. Conversely, a slide below $1.04 would refocus attention on the psychological $1.00 floor and the recent $1.01 trough.

ETF Momentum Stalls After Eight-Week Inflow Run

The most unambiguous bullish signal has come from exchange-traded funds, which recorded positive net inflows for eight consecutive weeks. In the final week of June alone, XRP ETFs attracted nearly $23 million. Cumulative net inflows since the products launched have reached approximately $1.4 billion.

That streak came to an abrupt halt on July 8, however, when XRP ETFs posted a net outflow of $7.29 million – the largest single-day withdrawal since March. The entire sum exited the Bitwise XRP ETF, which had shown zero trading activity for the two preceding sessions. The outflow followed an earlier wobble on June 30, when the funds recorded their first net redemption of the second quarter. The pause in ETF demand adds a fresh headwind just as other catalysts remain unambiguously positive.

Ledger Upgrade Clears 80% Validator Threshold

On the infrastructure side, the XRP Ledger’s upgrade to version 3.2.0 has passed a critical milestone. Roughly 89% of validators on the standard Unique Node List have installed the new software, comfortably exceeding the 80% threshold required for activation. The support must now hold for two consecutive weeks before the upgrade is formally applied – a confirmation window that is still running.

A separate on-ledger amendment, dubbed fixCleanup3_2_0, lags behind. This vote bundles security fixes for newer features such as lending, vaults and multi-purpose tokens. Ripple, the payments company whose founders contributed to the XRPL, has already cast its vote in favour. Validators that fail to upgrade before the amendment is activated risk being placed in an “amendment-blocked” state, effectively cutting them off from the network.

During the rollout, developers noted a GitHub issue where a server’s service log displayed the correct new validator key while the running process still used the old key from the wallet database. The team attributed the anomaly to the migration process rather than a protocol flaw.

Whale Activity and Network Metrics Tell a Different Story

While the price has stalled, on-chain data points to rising conviction among large holders. Exchange outflows of XRP have surged from roughly 40.7 million tokens on June 22 to about 123 million, a jump of 200%. Such withdrawals typically signal that investors are moving tokens into cold storage rather than preparing to sell.

Daily active addresses on the XRP network climbed from 23,000 to nearly 39,500 between June 14 and 27. Separately, the total number of active addresses on the XRP Ledger has surpassed 8.4 million, boosted by tokenisation activity and stablecoin usage.

Ripple’s Regulatory Expansion Continues

On the institutional front, Ripple received full regulatory approval in Luxembourg on July 6, enabling it to process cross-border payments across the entire European Economic Area. The licence adds to a growing collection of regulatory permissions that Ripple has accumulated in recent years, though such milestones have so far failed to translate into sustained price gains for XRP.

For now, the market is caught between a network that is quietly upgrading and improving and a token that cannot escape its technical gravity. The next key test is whether XRP can reclaim the $1.10–$1.11 resistance zone decisively, or whether the combination of cooling ETF demand and the absence of a breakout will push it back toward the $1.00 safety net.