XRP slides below $1.60 as on‑chain activity weakens

XRP fell 10% in 24 hours to $1.42, breaking the $1.60 support level that had held in recent weeks, and on‑chain metrics show a sharp decline in active addresses and futures open interest, heightening the risk of a further move toward the $1.00 psychological barrier【2】.

Price pressure and on‑chain signals

The sell‑off accelerated after XRP slipped below $1.60, a level that previously acted as short‑term support. Automated stop‑loss orders and heightened selling volume pushed the token toward its lowest level since the broader market pullback, with the next key psychological level at $1.00【2】.

On‑chain data reinforce the bearish bias. Active addresses on the XRP Ledger fell from roughly 50,000 in mid‑July to about 19,250 by early September, indicating a retreat of retail and small‑trader participation【3】. Concurrently, XRP futures open interest dropped from $10.94 billion to $7.7 billion, suggesting that traders are closing positions rather than adding new exposure【3】. Both metrics have historically coincided with extended downtrends in XRP’s price.

Institutional moves fail to lift price

Ripple announced that its institutional prime‑brokerage arm, Ripple Prime, added support for Hyperliquid, a decentralized derivatives platform that lets clients access on‑chain perpetual futures and cross‑margin with other assets【2】. While the integration underscores Ripple’s push to bridge traditional finance and DeFi, it has not generated direct demand for XRP, and the token’s price continues to slide despite the news. The divergence between Hyperliquid’s native token, HYPE, which has shown relative strength, and XRP highlights that capital is flowing toward platforms tied to institutional trading rather than legacy large‑cap tokens under technical pressure【2】.

Technical outlook

On the daily chart, XRP’s price is forming a descending triangle, a pattern that typically signals bearish continuation. The immediate support sits at $1.60; a break below this could open the path to $1.00, a level that would represent a 30% decline from the current price. Conversely, a decisive rebound above $1.60 might allow a short‑term bounce toward $1.70–$1.80, though the broader market context remains unfavorable.

What to watch

• $1.00 level – a breach would confirm a deeper downtrend and trigger psychological selling.
• Active address count – a sustained rise above 30,000 could signal renewed retail interest.
• Futures open interest – a rebound toward $10 billion would suggest renewed institutional conviction.

The price break below $1.60, combined with dwindling on‑chain participation and falling futures interest, raises the probability that XRP could test the $1.00 barrier unless a clear catalyst reverses sentiment. The open question is whether upcoming protocol upgrades—such as the native lending protocol vote or AMM v2 upgrade—can translate into measurable on‑chain activity before the token reaches that critical level.