XRP Network Activity Jumps 84% but ETFs See Zero Inflows: What's Going On?

XRP active addresses surged 84% since Aug. 1 as large wallet holders quietly accumulated during the price decline, yetETF inflows went flat for the first time in weeks.Why Is On-Chain Activity Jumping While Price Falls?Analyst Ali Martinez flagged on X that active XRP addresses climbed from 23,642 to 43,543 since Aug. 1, an 84.18% jump in network activity that runs directly against the bearish price narrative.Santiment added on X that the XRP Ledger’s million-XRP wallet cohort added 32 wallets over the past three months despite a 29% market cap decline.The firm said when large holders grow while market cap falls, stronger hands are absorbing panic selling rather than joining it.Moreover, Santiment pointed to RLUSD growing into a meaningful institutional stablecoin and Ripple’s payments, custody, and tokenization infrastructure keeping the XRP Ledger tied to real settlement use cases as the backdrop driving that accumulation.Why XRP Fell Below $1 And What Caused ItXRP briefly broke below $1 Tuesday for the first time since November 2024 after a hack drained roughly 200,000 XRP from the Coreum bridge through a software logic flaw, .The attacker exploited a flaw in how the bridge detected deposits, tricking the system into releasing real XRP it never actually received.What The ETF Flow Data Is ShowingXRP spot ETFs recorded zero net inflows across the first two sessions of this week, according to SoSoValue data.Weekly inflows have since peaking at $60.50 million in mid-May, falling through $22.04 million, $15.20 million, $14.86 million, $8.15 million, and $1.01 million in successive weeks before this week’s flat start.The divergence between rising on-chain activity and zero ETF demand points to two very different types of participants reading the same asset in opposite ways.Can XRP Hold Its Reclaim of $1? Key Levels to WatchXRP holds at $1.02, recovering after yesterday’s brief dip below $1 was rejected the same session.The swift reclaim of that level is constructive short-term, but the structure above remains entirely bearish with all four EMAs and the Supertrend stacked overhead as resistance.Key Levels for XRPLevelPriceTypeResistance$1.053920-day EMA, first resistance aboveSupport$1Psychological floor, held Tuesday and must hold again Read Also: Photo via Shutterstock