XRP’s price briefly surged past the $3.00 mark in January 2025, but has failed to reclaim that level in the months since.
This prolonged consolidation comes despite XRP maintaining a relatively high open interest of $3.89 billion, suggesting market participants are positioned but unwilling to commit further capital.
XRP’s stagnant movement is being weighed down by declining onchain activity on the XRP Ledger, bearish momentum signals, and the inability to push past key technical levels.
The resistance range between $2.22 and $2.40 is acting as a firm barrier for bulls, where the major simple moving averages currently converge. Currently, the coin is trading at $2.17.
Source: CoinMarketCap
Unless XRP breaks above this cluster of trendlines, price may continue to trade sideways or head lower, a pattern already seen twice this year.
XRP ledger activity hits multi-month lows
A significant factor contributing to XRP’s muted price action is a marked decline in network usage.
The number of new addresses on the XRP Ledger has fallen steeply from a 2025 peak of 15,823 on January 16 to just 3,500 as of June 5.
Similarly, daily active addresses (DAAs) on the network have plummeted to 34,360, down from 577,000 recorded only days earlier.
Lower network participation typically correlates with weaker demand for a cryptocurrency.
With fewer new wallets joining the ecosystem and a sharp decline in DAAs, transactional activity on the chain has thinned out, leading to reduced liquidity and lower trading volume.
Historically, when XRP Ledger activity drops, price consolidation or decline tends to follow.
This reduction in user activity reflects a subdued investor sentiment, limiting upside momentum for XRP.
Open interest down 30% from January peak
XRP’s open interest (OI), which tracks the total value of open futures and options contracts, has dropped significantly from earlier in the year.
XRP OI fell by 30%—from $5.53 billion to $3.89 billion—indicating that traders are closing positions as bullish momentum fades.
This reduction in OI mirrors a similar pattern seen earlier in the year. Between January and April, XRP saw a drop in OI that preceded a price slide from $3.40 to $1.61.
The current OI decline suggests that traders expect more downside or are waiting for clearer signals before re-entering the market.
If the OI continues to decrease alongside weak network metrics, XRP may find it difficult to sustain even the current range, let alone attempt a move toward $3.00.
Technical indicators highlight bearish risks
XRP’s price continues to hover below key technical resistance levels.
Data shows that the token remains under pressure beneath the $2.22–$2.40 band, where all the main SMAs intersect.
This confluence of resistance has repeatedly capped upward momentum since April.
The relative strength index (RSI) has also cooled off. After reaching an overbought 81 on January 20, it has now slipped to 51, suggesting weakening bullish momentum and increased selling pressure.
If bears continue to dominate, XRP could retest lower support zones at $2.01, $1.90, or even $1.55.
Technical analysts have also identified a descending triangle pattern on the chart, which, if confirmed, could lead to a breakdown toward $1.20—a 45% drop from current levels—should the support at $2.00 fail to hold.
However, some historical comparisons offer a more optimistic outlook.
In 2017, XRP consolidated below major resistance levels for nearly 200 days before breaking out to new highs.
Some traders believe that a similar breakout above $3.00 could open the path toward $10.00 if macro and technical conditions align.
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