XRP’s on-chain activity has deteriorated sharply, with the 90-day average of network fees falling from about 5,900 XRP to roughly 500 XRP as of June 11, 2026. The 91.5% decline has turned weaker transaction demand into the core market concern for traders watching the token’s next move.
The slowdown is arriving alongside deteriorating investor metrics and reduced ledger activity. With realized losses now outpacing gains and active accounts thinning, XRP’s market structure has shifted toward capitulation pressure and selective long-term accumulation rather than broad speculative inflows.
The 90D-SMA of XRP's Realized Profit to Loss Ratio has fallen to 0.38. For every dollar of loss being realized in the market, only 38 cents of profit is being taken.
At the 2025 peak, this ratio reached 50, meaning profit-takers were overwhelming loss-sellers by a factor of 50x.… https://t.co/YvCyY5yifo pic.twitter.com/riPTkbdqfl— glassnode (@glassnode) June 9, 2026
On-Chain Demand Weakens After the 2025 Rally
Glassnode and on-chain reporting cited in recent market coverage show XRP’s 90-day realized profit-to-loss ratio falling from near 50 at the 2025 peak to roughly 0.38 today. That collapse indicates sustained selling pressure as realized losses exceed gains.
Active accounts on the XRP Ledger have also dropped from about 20,000 to roughly 7,800. The decline points to materially weaker network engagement after the mid-2025 rally that briefly pushed XRP above $3.
The fee contraction reinforces the same signal. Average network fees have fallen from about 5,900 XRP to roughly 500 XRP, making lower transaction demand and reduced speculative flow visible directly through on-chain activity.
That matters because XRP’s current price structure depends heavily on whether buyers return before support breaks. With liquidity and network usage cooling, the market has less on-chain activity to absorb renewed selling pressure.
The $0.65 Zone Becomes the Key Technical Test
Technical attention is now concentrated around the $0.60 to $1.00 range, with $0.65 emerging as the main level to watch. Recent technical notes and visible-range profiles identify a fair value gap between roughly $0.63 and $1.00 formed during the late-2024 rally.
Below that area, liquidity appears thinner until the next high-volume zone around $0.50 to $0.65. A point of control near $0.52 to $0.55 suggests the next deeper liquidity band could sit well below current support.
A longer-term technical marker adds to the focus. A five-year ascending trendline is projected to intersect near $0.60 to $0.65, reinforcing the same zone as a major structural battleground for XRP’s price stability.
Some traders see the broader $0.60 to $1.00 area as a potential accumulation range. Others view the cluster of support signals as fragile, because technical confluence can fail quickly when on-chain demand remains weak.
If $0.65 holds, the overlap between the fair value gap, volume profile and long-term trendline could help stabilize price. A successful defense would likely reduce near-term volatility and create room for a corrective rebound if broader risk appetite improves.
If $0.65 breaks decisively, the market could face a faster move lower. Stop orders and capitulation selling may push XRP toward the next liquidity concentration near $0.50 to $0.55, especially because current on-chain activity suggests limited absorption capacity.
For now, traders are watching network fees, active account counts and visible-range volume shifts for confirmation of demand. The immediate outlook depends on whether selective accumulation can offset prevailing selling pressure, with the $0.65 level acting as the clearest short-term decision point.
