Binance exchange activity for $XRP has declined sharply, drawing renewed attention to the token as 30-day deposits and withdrawals fell from roughly 650,000 in June to about 350,000 at the time of writing. The slowdown resembled conditions seen before $XRP’s October 2025 rally and has prompted discussion about whether another accumulation phase is developing.

A lower number of exchange transactions often indicates reduced immediate selling pressure, as fewer coins are moving through trading venues. However, weaker exchange activity by itself does not confirm a bullish outcome, because broader network participation has also cooled. Exchange-flow data is typically most useful when read alongside on-chain activity and derivatives positioning, since each metric captures a different part of trader behavior.

The latest decline suggested that investors were more inclined to hold existing positions than actively move funds. For that reason, exchange flow remained a closely watched indicator, as it showed how market participants were positioning before the next major price move.

NVT Ratio rises as transaction activity lags

Network valuation also came into focus after the NVT Ratio increased 144.21% to 697.6 over the past day. The rise indicated that $XRP’s market capitalization expanded much faster than its on-chain transaction volume.

That type of divergence can reflect stronger investor confidence, but it also raises the possibility that price appreciation is moving ahead of actual network usage. The elevated NVT reading aligned with the decline in Binance activity, as both metrics pointed to fewer circulating coins and more pronounced holding behavior.

Even so, sustained price appreciation would likely require transaction activity to recover alongside valuation. Without that recovery, the widening gap between price and network utility could lead traders to reassess whether $XRP remained fairly valued.

Positive funding rates show continued long exposure

Derivatives market data also showed traders maintaining a constructive stance. Funding Rates rose 52.16% to 0.008685 over the previous 24 hours, at the time of writing. The positive reading meant holders of long positions were still paying a premium to keep bullish exposure open.

This behavior indicated continued confidence even as $XRP remained confined to a relatively narrow trading range. Unlike sharp funding spikes that often appear in overheated markets, the current level stayed positive without pointing to excessive leverage.

That balance suggested bullish conviction remained in place while speculative positioning stayed relatively controlled. Funding rates alone do not determine price direction, but the data reinforced the broader picture formed by lower exchange activity and longer-term holding behavior. In this context, traders were watching whether long exposure stayed orderly or began to build faster than spot demand and network activity.

As a result, derivatives traders continued to support the view that buyers retained influence over overall market positioning.

XRP defends $1.05 support while $1.15 remains key resistance

At press time, $XRP traded near $1.09 after repeatedly defending the $1.05 support level throughout July. Buyers had previously attempted to reclaim $1.15, but each advance lost momentum before establishing a sustained breakout.

The RSI was near 47, below the neutral 50 level, while showing signs of stabilization rather than renewed weakness. That reading suggested bearish pressure had eased, although buyers had not yet gained enough strength to take full control.

Price action remained compressed between $1.05 and $1.15, forming a tightening range that often precedes a stronger directional move. If buyers reclaim $1.15, $XRP could test the next resistance area near $1.30.

On the downside, a loss of $1.05 would expose the psychological $1.00 level, where buyers would likely attempt another defense before the broader trend became vulnerable.

Taken together, the decline in Binance activity, the higher NVT Ratio, and positive funding rates showed that investors continued to favor accumulation over distribution. Although transaction activity remained relatively subdued, market positioning stayed constructive across both spot and derivatives markets.

For $XRP, a decisive move above $1.15 would be needed to confirm renewed strength, while continued defense of $1.05 remained important for preserving the current bullish structure. Traders would also need to see whether any breakout is supported by improving transaction activity, rather than relying only on reduced exchange flows and positive derivatives sentiment.