XRP drops 71% as price sinks to $1.12 and active users climb past 215,000

The XRP token has plunged about 71% from its recent cycle peak, trading around $1.12‑$1.13 after a 15.7% decline in the first week of June. Active wallets rose sharply, with daily users reaching roughly 215,000 – the first time since March that the 200,000 threshold was crossed. Analysts such as trader Bob Loukas warn that a further 50% drop could occur by year‑end, citing the token’s deep oversold condition and a looming technical “response rally” that may be short‑lived. Technical notes highlight a recurring “falling wedge” pattern and a potential Cup‑and‑Handle setup targeting a 1.618 Fibonacci extension. Ripple’s Chief Technology Officer David Schwartz reiterated that there is no fixed timetable for the 2035 escrow release, implying limited impact on the price outlook. Despite weak spot demand, institutional interest persists through XRP‑linked ETFs, while leveraged positions have been liquidated as broader market risk appetite waned.