XRP closed at its lowest level since November 2024 a couple of days ago, just under $1.00. It has since bounced to $1.01 as of press time, but analysts expect at least one more dip below the $1 mark — even the most bullish ones. The token still sits 70% away from its all-time high, which was set roughly 13 months ago.
Selling Pressure on Binance
XRP's Taker Buy/Sell Ratio on Binance dropped to 0.86, its lowest reading since May. That means sellers are pushing harder than buyers on the exchange's order books. A ratio below 1 typically signals more aggressive selling, and this reading suggests the recent bounce may not have much fuel behind it.
Active Addresses Surge, But New Wallets Flat
Daily active addresses for XRP have climbed sharply. They averaged 35,700 a day in August, up from 26,400 in July. August 11 — the day XRP dipped below $1.00 — was the busiest day for active addresses since early June.
But new addresses tell a different story. They've stayed nearly flat: 2,260 now versus 2,270 last month. Santiment concluded that the 'rising user activity' narrative is only 'half right' — the existing base is transacting more, but the wallet count isn't growing. That's a sign of churn among current holders rather than fresh demand.
Whale Wallets Grow While Market Cap Falls
The number of wallets holding at least 1 million XRP tokens has risen by 32 over the past three months. That sounds bullish on the surface. But XRP's market cap has declined by nearly 30% in the same period. So the biggest holders are accumulating into a falling market, which can be a contrarian signal or a sign of distribution — the data alone doesn't say which.
Ripple's Stablecoin and Rails
Ripple's stablecoin RLUSD has reached a market cap of $1.6 billion. The company's payments, custody, and tokenization rails continue to see growing interest from users. That's a separate part of the business from XRP's price action, but it's worth watching if the broader ecosystem gains traction.
For now, the price is the story. XRP's rebound to $1.01 is real, but the taker ratio and the flat new-address count suggest the selling pressure isn't done. Analysts are looking for at least one more test below $1.00. The question is whether that happens in the next few days or after a longer grind higher.
