XRP rose 1.33% to trade near $1.11 within 24 hours, outperforming Bitcoin’s 0.61% increase and the broader crypto market’s 0.97% rise. The token maintained a 9.37% weekly gain, though declining trading volume indicated limited buying pressure.
Market data points to a broad crypto recovery as the primary driver of XRP’s move. The token tracked the wider market but posted stronger gains. No clear token-specific catalyst appeared in the price data, while trading volume fell 16.26%. Traders are monitoring whether XRP can sustain support between $1.05 and $1.10 and test resistance near $1.15.
XRP Outpaces Bitcoin as Volume Falls
XRP’s daily gain placed it ahead of Bitcoin and the crypto market. The relative strength suggests selective demand, although the move still followed the wider market direction. The Altcoin Season Index also dropped to 46, indicating that capital has not strongly shifted into altcoins.
The lower trading volume limits confirmation of the advance. A daily close above $1.12 could support a move toward $1.15, while a drop below $1.08 may signal weaker momentum. Bitcoin’s next move will also be critical, as a broad market decline could pressure XRP without a new coin-specific event.
Ripple Expands RLUSD Supply on XRP Ledger
Ripple increased RLUSD minting across the XRP Ledger (XRPL) and Ethereum, issuing a total of $291.6 million. Approximately $225.8 million, or 77%, was minted on XRPL, while Ethereum accounted for about $65.8 million.
On July 1, Ripple minted roughly $169.8 million and burned $150,000, with nearly all issuance on XRPL. On July 2, the company minted $121.8 million and burned $68.1 million across both networks. After the two-day activity, XRPL recorded a net supply increase of $167.7 million, while Ethereum added about $55.75 million.
The latest issuance followed a large XRPL burn at the end of June. Ripple burned about $146.3 million on June 30, producing a net supply drop of $136.1 million that day. Part of the July minting therefore replaced supply removed earlier rather than creating entirely new growth.
RLUSD’s total supply now stands near $1.634 billion. XRPL holds about $844.5 million, or 51.7%, while Ethereum holds approximately $789.83 million, or 48.3%. The figures show a near-even split, with recent minting activity leaning toward XRPL.
Santiment Flags Deep XRP Holder Losses
Santiment reported that XRP’s 30-day market value-to-realized value (MVRV) ratio fell to its weakest level since December 2020. The data shows the average active trader down about 47%, placing many recent buyers in a deep loss position.
The analytics firm said ‘fear and frustration’ had reached rare levels that previously appeared before rebounds. Still, Santiment added that ‘weak MVRV readings alone do not guarantee a reversal.’ The statement frames the data as a possible relief-rally setup, not confirmation of a durable recovery.
Social sentiment has also turned more negative, with bullish and bearish commentary moving closer to balance. Such readings can reduce selling pressure when many holders already sit at a loss. However, XRP still needs stronger volume, stable Bitcoin trading and fresh market demand to confirm any wider rebound.
Some market watchers are tracking a possible move toward $1.40 if XRP holds support and buying interest improves. The key levels sit near $1.05 on the downside and $1.15 on the upside, while a daily close above $1.12 could provide the first technical sign of stronger momentum.
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