XRP's Summer Vacation: Range-Bound Since June, Still Hasn't Texted Back 📉

XRP has spent much of June compressed between roughly $1.10 and $1.30, with repeated tests of support failing so far to produce a decisive breakdown. After briefly trading above $1.22 on June 18, the token slipped 2.5% to about $1.19 as heavy selling pushed it back below the $1.20 level, with volume during the June 17 19:00 UTC session surging to 128.7 million XRP. The next day, XRP fell from $1.1873 to $1.1465, a 3.4% decline, after a volume spike of 134.2 million XRP around 15:00 UTC broke support at $1.1550. By June 22, the token had dropped to a session low near $1.1213 on 85.8 million XRP in volume before rebounding toward $1.148, and on June 23 it drifted from $1.1313 to $1.1109, losing 1.8% as selling during a June 22 reversal reached 65.4 million XRP, roughly 84% above average.

Beneath the price action, on-chain and institutional signals have moved in opposing directions. XRP Ledger's total value locked (TVL) sits at around $39 million, down roughly 67% from a July 2025 peak of nearly $120 million, according to DefiLlama, while the network's stablecoin supply recently hit a new all-time high of $785 million, up more than 2% over the past week with about $17 million in net inflows. XRP ETFs recorded roughly $150 million in net inflows over the past 60 days and attracted another $2.4 million on June 20, according to SoSoValue, even as XRP's daily transaction count fell to 1.1 million, 41% below the six-month average of 2 million. Binance deposit addresses dropped to 52 per day, down 96% month-over-month from an average of 1,269, while CryptoQuant reported that Upbit XRP Wallet Flow Dominance climbed to 37%, its highest level since June 2024, as Binance XRP Wallet Flow Dominance fell to 0%.

The broader technical picture has tightened as the range narrows. XRP has failed multiple times below a descending trendline near $1.25, a level traders have cited as the most important resistance on the chart, and the token has now also lost support from the weekly Ichimoku cloud. On the longer-term side, XRP Ledger has attracted $1.9 billion in net real-world asset (RWA) inflows over the past 90 days, outperforming every major blockchain tracked, while addresses holding 100-1 million XRP have steadily distributed holdings over the past sixty days alongside a nearly 15% correction in price.

Traders are watching $1.05 to $1.10 as the key support band, with a break below $1.05 likely to refocus attention on the $1.00 level. On the upside, $1.15 has flipped from support to the first hurdle bulls need to reclaim, followed by resistance clustered between $1.17 and $1.25, with a sustained move above $1.25 and the $1.28 to $1.30 zone required to shift the broader bearish structure. Until one side gives way, XRP remains a range-trading story rather than a trend story.