XRP Traders Refuse to Chase Shallow Bounces Amid Bearish Consensus

XRP's price has been stuck in neutral territory lately, with sidelined traders seemingly waiting for a real move rather than chasing shallow bounces.

According to Santiment, XRP Ledger activity has plummeted to unusually low levels, with only 25,350 and 24,887 daily active addresses on the 9th and 10th of July respectively. These figures were the second-lowest in 2026, and the daily network growth was a paltry 2,130, the lowest since November 2024.

The spot volume trends also support this idea, with the spot CVD for the past 90 days on CryptoQuant hovering around neutral territory. This metric tracks aggressive participation in the market, and its decline suggests reduced buying pressure.

Analyst Darkfost believes that XRP's speculative bias might be firmly bearish, citing negative aggregate funding rates throughout 2026. Despite a 70% correction since July 2025, the bearish consensus could serve as a clue for a medium-term reversal, similar to what happened in April 2025.