XRP Demand Cools Across 3 Metrics, but Funding Hints at Rebound

What happened

In early July, XRP demand weakened across three areas: on‑chain activity fell to 25,350 active wallets—the second‑lowest daily count of 2026—while futures positioning and spot ETF flows also cooled.

Confirmed

Global impact / market context

Lower demand can pressure XRP’s price, but the extreme bearish funding rates—where traders pay to hold short positions—are often read as a sign that a price rebound may be coming, influencing trader sentiment and potential buying.

Analyst inference

In crypto markets, bearish funding rates usually indicate that short sellers are paying high costs, which can trigger a short‑cover rally; combined with cooling demand, this creates a mixed signal for XRP’s near‑term direction.

Analyst inference

What to watch

1. Whether on‑chain activity on the XRP Ledger rises again, which would suggest renewed user interest and possible price support. Analyst inference
2. Changes in futures funding rates and positioning, as a shift toward less bearish rates could signal reduced short pressure. Analyst inference
3. Spot ETF flow data, because increased inflows would bring new capital into XRP and could help reverse the recent demand cooling. Analyst inference

Affected assets

• XRP — XRP

Evidence

• beincrypto.com