Track market-moving stories before they get noisy

Bitcoin, Ethereum, XRP, and Solana have once again become the focal point of the crypto market after simultaneously flashing monthly buy signals on the TD Sequential indicator. This development has fueled speculation that a long-term bottom might be forming across leading cryptocurrencies; however, analysts warn that the indicator alone does not guarantee the start of a sustained rally.

Unified technical signal emergesCrypto market analyst Ali Martinez reported that all four major cryptocurrencies triggered a TD Sequential buy signal on the monthly chart. Used primarily on higher timeframes, this indicator aims to spot moments when the prevailing trend is losing steam and the stage may be set for a reversal.

Glossary: The TD Sequential, developed by market analyst Tom DeMark, is a technical indicator designed to identify moments when trends are becoming exhausted and a possible reversal is imminent, using specific counting sequences.

The monthly chart is pointing to a simultaneous macro reversal setup. The TD Sequential indicator is giving a buy signal for Bitcoin, Ethereum, XRP, and Solana.

It is rare for all four major cryptos to show monthly buy signals at the same time. This technical improvement has fostered cautious optimism in the market, especially after the sharp volatility seen in recent weeks.

Latest on prices and futures marketsAccording to data from CoinMarketCap, Bitcoin was trading at $59,947.31, Ethereum at $1,615.92, XRP at $1.05, and Solana at $77.45. Analysts note that these large-cap assets are presenting a more positive picture compared to earlier market turbulence.

AssetPriceOpen Futures InterestBitcoin$59,947.31$8.50 billionEthereum$1,615.92$21.99 billionXRP$1.05$2.31 billionSolana$77.45$5.58 billionCoinGlass data shows the open interest in Bitcoin futures on Binance stands at $8.50 billion. Open interest for Ethereum has reached $21.99 billion. XRP and Solana report figures of $2.31 billion and $5.58 billion, respectively. This data suggests that interest in the derivatives market persists, indicating continued engagement from traders and investors.

ETF flows reflect ongoing cautionUS spot Bitcoin ETFs saw net outflows totaling $222.60 million on July 1. Despite this, the total net inflows since these products launched have reached $51.59 billion. This pattern shows that while some investors are taking short-term profits, the broader trend has not been completely disrupted.

Spot Ethereum ETFs, meanwhile, recorded a net outflow of 16,715.33 ETH on June 30. Although institutional players continue to display caution, sentiment around longer-term demand remains upbeat.

Monthly buy signals may signal weakening selling pressure, but further confirmation is needed for a sustained recovery.

In the coming weeks, if Bitcoin, Ethereum, XRP, and Solana manage to hold above current price levels, strengthen ETF inflows, see a rise in open interest, and log increased buying volumes, the probability of a broader crypto market recovery will likely increase.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Bitcoin reclaimed the $60,000 level, lifting major cryptocurrencies higher suggesting a potential long-term buying opportunity may be emerging despite lingering downside risks.

Notable Statistics:

Coinglass data shows 97,328 traders were liquidated in the past 24 hours for $398.51 million.        SoSoValue data shows net outflows of $222.6 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net outflows of $27.6 million. In the past 24 hours, top gainers include MemeCore, Jupiter and Venice Token. Notable Developments:

Trader Notes:

Crypto chart analyst Ali Martinez says the monthly charts for Bitcoin, Ethereum, XRP and Solana are flashing Tom DeMark (TD) Sequential buy signals, a technical indicator often associated with trend exhaustion and potential reversals.

This suggests selling pressure may be fading and could mark the formation of a long-term market bottom.

Trader Jelle explained that historically Bitcoin bear markets have tended to bottom roughly a year after they begin, despite sentiment often feeling most pessimistic near the end of the cycle.

If the current cycle follows a similar timeline, the market could be about 75% through the downturn, indicating that the final phase of the bear market may be approaching. However, analysts caution that history does not guarantee the same outcome.

Trader KillaXBT expects short-term relief for Bitcoin despite maintaining a bearish longer-term outlook.

After sweeping major liquidation levels, BTC could stage a temporary rally before potentially making one final move toward the low $50,000 range.

Image: Shutterstock

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In a major XRP news today, a key on-chain whale indicator flipped negative for Ripple’s native crypto asset XRP. The on-chain metric now flashes a sell signal for the first time since February. Will XRP price witness further selling pressure and drop below $1 in the coming days amid growing headwinds?

Ripple Whale Flow Turns Negative for the First Time in 4 Months The XRP Whale Flow 30-DMA metric has now flipped negative, according to CryptoQuant on-chain data. This marks the first time the key Ripple whale indicator signaled selling pressure among whales after nearly 4 months.

XRP faced renewed distribution pressure over the past few weeks despite XRP Ledger upgrades, with Ripple whales liquidating their holdings. XRP price top in mid-May coincided with sustained whale distribution and a subsequent correction.

As CoinGape warned earlier, XRP whale activity has kept declining since early May. The whale accumulation dropped from 9-13 million daily whale activity to nearly 4 million XRP per day.

On Tuesday, whale flow dropped to 1.24 million. This indicates a shift in whale behavior amid rising uncertainty and a broader crypto market crash.

Ripple executive chairman Chris Larsen’s wallet addresses also became active again during this period. However, the transfers were significantly lower to shake XRP price.

XRP Whale Flow. Source: CryptoQuant XRP Funding Rates on Binance Hit 3-Month Low As XRP price failed to build upside momentum, funding rates for XRP perpetual contracts on Binance continued to fall. This indicates increasing selling pressure for Ripple’s native crypto asset in the derivatives market.

According to the latest funding rates data, the funding rate has fallen to almost -0.0139, the lowest level in more than three months. This means a shift in trader sentiment toward short positions.

Funding rates have fluctuated between positive and negative values over the past few months, triggering rising XRP prices and increased demand for long positions. However, this balance gradually shifted as bullish momentum weakened.

While persistently negative funding rates reflect weak market sentiment, reaching extremely low levels can sometimes trigger a short squeeze.

XRP Funding Rates. Source: CryptoQuant Will Price Fall amid Bearish XRP News? XRP price fell to a 24-hour low of $1.02 in the past 24 hours. But the price has since rebounded to $1.04, with a 24-hour high of $1.05. Moreover, trading volume has remained low in the past few days, indicating a decline in interest among traders.

Analyst Ali Martinez pointed out that XRP price could find support at $0.90. He highlighted that the UTXO Realized Price Distribution (URPD) on-chain data showed $0.80, $0.62, and $0.51 as key support levels to watch.

Moreover, XRP futures open interest fell nearly 2% to $2.28 billion as the Clarity Act passing odds tanked. The total open interest dropped more than 0.50% on CME and more than 2.30% on Binance.

Moreover, spot XRP ETFs recorded $2.83 million in net outflows on Tuesday, with Bitwise XRP ETF recording $5.82 million in redemptions. Also, Canary’s XRPC saw $2.99 million in inflows.

XRP ETF Outflow. SoSoValue

The monthly XRP Commodity Channel Index (CCI) has dropped to its lowest level in six years, closing way below the -100 baseline in June.

The decline came amid a weak close in June, when the indicator stood at -134.61 following a nearly 22% drop in XRP’s price for the month. This made June the asset’s worst monthly performance since February 2025.

XRP Commodity Channel Index Hits 6-Year Low While XRP has opened July with a small rebound, rising 0.61% to trade at $1.04487, the CCI has collapsed further this new month, currently sitting at -137.30. 

For context, when the CCI falls below -100, it usually points to oversold conditions. At -137.30, XRP now sits far below its 20-period average, suggesting that the current level of selling may not last for long.

The last time XRP’s CCI reached a similar level was in March 2020, during the COVID-19 market crash, when the price dropped below $0.20. During this period, the Commodity Channel Index crashed to -140.67, marking XRP’s bottom for that downturn.

After the crash, XRP’s price recovered considerably and climbed to around $1.96 within the following year. While it is important to consider this historical context, it does not necessarily mean the same kind of recovery will happen again.

How the Current Decline Compares to 2020 The 1-month chart shows a similarity between the CCI low in March 2020 and the one recorded in June 2026, as both sit at nearly the same depth below the oversold level. 

However, the reasons behind the two drops are different. In 2020, the market fell quickly due to an external shock and then recovered just as fast. This time, XRP has been moving down gradually since Q4 2025 within a falling channel.

The CCI also shows a secondary signal line at -3.69, as the main CCI remains at -137.30. The gap between these two lines creates room for a possible crossover, which traders often see as an early sign of recovery. 

However, for now, no crossover has happened, so the oversold reading alone does not confirm a reversal. The price still needs to show clear signs of strength before any change in direction could emerge.

XRP Monthly CCI XRP Ichimoku Cloud Confirms Bearish Trend Meanwhile, the monthly Ichimoku Cloud confirms the extent of the ongoing bearish trend, as all four main components remain above XRP’s current price of $1.04487. 

Specifically, the Tenkan-sen stands at $1.79398, while the Kijun-sen sits higher at $2.02423, placing it about 94% above the current price. Since the Tenkan-sen is below the Kijun-sen, the chart confirms a bearish crossover, showing that short-term movement still follows the broader downtrend.

Further, Senkou Span A is at $1.90910, and Senkou Span B is at $1.97650, forming a bearish cloud where Span B stays above Span A. This presents a strong resistance zone between $1.90910 and $2.02423, meaning XRP must push through a tight range of about $0.12 before the structure can turn neutral.

The only slightly positive signal comes from the Chikou Span, which compares the current price of $1.04487 with past price action from May 2024, when XRP traded below $1.00. The position gives a mild bullish signal but has little weight since the rest of the indicators remain clearly bearish.

XRP Falling Channel and Key Price Levels Also, XRP has moved within a falling channel since October 2025, forming a downward pattern across nine monthly candles. The upper boundary of this channel now sits between $1.40 and $1.60, while the lower boundary points to a range between $0.85 and $0.90. This lower area lines up with a key support level at $0.87493.

At the moment, XRP trades at $1.04487, just $0.04487 above the important $1.00 level. If the price closes below $1.00 on the monthly chart, it would break a key level that supported the early stages of the 2024 rally. 

If this happens, the next support comes in at $0.87493, followed by $0.66158, a level last seen in early 2023 and about 37% below the current price.

On the upside, XRP faces multiple resistance levels. It must first move past $1.20, then break above the channel’s upper boundary between $1.40 and $1.60. 

After that, it would need to clear the Tenkan-sen at $1.79398, the cloud between $1.90910 and $1.97650, and finally the Kijun-sen at $2.02423. Only a strong move above all these levels would shift the overall trend from bearish to neutral.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Jul 1, 2026, 11:15 a.m.

3 min read

As investments flow out of bitcoin, ether, sol ETFs, XRP and HYPE flows stand strong. (Tarik Haiga/Unsplash)Summary

This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.

XRP and Hyperliquid’s HYPE have emerged as notable bright spots amid record outflows from U.S. spot crypto exchange-traded funds (ETFs).

XRP-linked ETFs added $59.4 million in June, a third straight month of net inflows, albeit at a slower pace than during the previous two months, according to SoSoValue data. HYPE funds notched up $161 million in net inflows during the month.

In contrast, bitcoin BTC$59,720.20 ETFs suffered record outflows of more than $4 billion, ether (ETH) ETFs saw $528.99 million in outflows and solana (SOL) ETFs shed $786,000.

The positive flows into both XRP and HYPE funds signal potential for significant spot price appreciation, particularly if bitcoin and the broader market stabilize.

HYPE also has support at the fundamentals level. Its parent, the decentralized exchange Hyperliquid, generated just over $80 million in fees over the past 30 days, according to DefiLlama. This places it third among all protocols and behind only stablecoin giants Tether ($486.9 million) and Circle Internet ($184.07 million).

Speaking of potential for market stability, July offers hope. According to Alex Kuptsikevich, the chief market analyst at the FxPro, July tends to be a positive month for the largest cryptocurrency.

"Over the past 15 years, bitcoin has ended the month higher on ten occasions and lower on five. The average gain was 19%, while the average decline was 7.8%," he said in an email.

Still, history is no guide to future performance and seasonality alone may not be enough and strong inflows into spot ETFs may be needed to lift BTC. Stay alert!

Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead."

What’s trendingBitcoin’s 20% June crash looks even deadlier on the charts. Here’s why (CoinDesk): Bitcoin’s June candlestick looks like a solid red brick with virtually no wicks, a clear sign of uninterrupted bear dominance throughout the month and a warning that more losses could happen in the weeks ahead.World shares ease, yields rise as yen hits 40-year low (Reuters): Equities around the world started the quarter cautiously ahead of ​key U.S. jobs data, as uncertainty over U.S.-Iran negotiations remained and traders watched for possible Japanese intervention in forex markets after the yen hit a 40-year-lows.Gold prices fall further after worst quarter in 13 years as interest rate fears hit bullion (CNBC): Gold prices fell further, after the precious metal closed its worst quarter in 13 years. Gold futures slipped 1.24% to $3,989.00.Trump pocketed more than $1 billion from crypto ties as industry headed toward slump (CoinDesk): President Donald Trump earned more than $1 billion from crypto sales and royalties last year while living in the White House and pursuing pro-crypto policies in his administration.Today’s signalThe SPDR gold shares ETF is slipping into a death cross. (TradingView)Need evidence of just how unpopular store-of-value assets are right now? Check out the SPDR Gold Shares ETF, the largest in the world.

Its price is slipping into a death cross, with the 50-day moving average crossing below the 200-day average. This indicator is widely viewed as a signal of long-term pain.

BlackRock's bitcoin ETF (IBIT) slipped into its own death cross in December and has since fallen by 35%.

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Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Market analyst Austin said XRP could rise 230% if July pattern repeats, targeting $3.50

The assumption is simple: Ripple goes public, XRP moons. The reality is that Ripple equity and the XRP token are different assets, and the channels connecting them are weaker than the hype suggests.

Summary

Ripple remains private with no S-1 on file, but a $750 million buyback fixed its valuation near $50 billion and private secondary shares have surged to about $136.90, keeping IPO speculation loud. Ripple equity and the XRP token are legally separate: owning XRP gives no claim on the company, and a public listing would not hand shareholders or token holders any automatic link between the two. The plausible transmission channels are sentiment, Ripple’s escrow and sell behavior, institutional validation, and value accrual, and each is weaker or more two-sided than the “IPO equals XRP moon” story assumes. There is a real counter-case that an IPO could pull capital away from XRP, by giving investors who want Ripple exposure a way to buy the stock instead of the token. The evidence so far is mixed: XRP briefly re-coupled to Ripple’s rising private valuation, yet the token is still down about 26% on the year, which points to weak, not strong, transmission. The reflex in the XRP community is automatic. Ripple goes public, the story goes, and XRP rockets alongside it. The logic feels obvious, because Ripple and XRP are wrapped together in the same brand, the same headlines, and the same decade of shared history. But an initial public offering sells shares in a company, and XRP is a token that confers no ownership of that company.

JUST IN: Ripple CEO Brad Garlinghouse says the company processed $13T in payments last year with no immediate IPO plans pic.twitter.com/f9bd80FPsX

— crypto.news (@cryptodotnews) May 5, 2026 Whether a Ripple listing would actually move the token is not a matter of sentiment or loyalty. It is a question of mechanism: through what channels, if any, would value flow from a Ripple equity event into the XRP price? This piece examines those channels one by one, and finds them thinner than the hype implies. The XRP holder payout question has already become a separate community obsession, but the XRP holder payout question is not the same as a price-transmission mechanism.

The starting point: Ripple equity and XRP are different assets Everything begins with a distinction the excitement tends to blur. Ripple Labs is a private company. XRP is a digital asset that trades on public exchanges. There is no mechanism that entitles an XRP holder to Ripple shares, dividends, or any slice of the company’s profits, and a public listing would not create one.

If Ripple lists tomorrow, an XRP holder owns exactly what they owned the day before: a token, not a piece of the business. The one concrete link runs the other direction. Ripple is itself one of the largest holders of XRP, with tens of billions of tokens held in escrow that it releases on a schedule and uses, in part, to fund operations. So the company’s relationship to the token is that of a giant holder and periodic seller, not a value conduit that passes equity gains down to token holders.

Ripple has no specific IPO timeline amid recent $500M raise

Ripple says it has no IPO timeline as fresh funding and acquisitions reduce the need for public markets.

— crypto.news (@cryptodotnews) January 7, 2026 That asymmetry matters for the whole analysis. When people say an IPO would help XRP, they are really claiming that something about Ripple becoming public would change demand for, or supply of, the token. The rest of this piece tests each version of that claim. Until then, Ripple equity and XRP should be treated as related but legally separate assets, not two versions of the same exposure.

Channel one: sentiment and attention The first and most immediate channel is psychological. An IPO would be a media event, a wave of coverage, analyst notes, and credibility that reframes Ripple from a litigation-scarred crypto firm into a public company vetted by underwriters and public markets. In a market where attention is a real driver of price, that halo could spill onto XRP, lifting the token on narrative even without any mechanical connection. That is the channel the community understands instinctively, because XRP has always traded partly on Ripple headlines.

There is some evidence this channel is live. When Ripple’s private secondary shares surged, one analysis linked the move to XRP briefly re-coupling with the company’s rising valuation, as the market started treating the private-share price near $136.90 as a fundamental signal for the token. That is the sentiment channel working in real time: a Ripple equity data point moving XRP through association rather than mechanics. It is also why where XRP could go from here depends partly on whether traders treat corporate news as a catalyst or just another temporary headline.

The limit is that sentiment is fickle and shallow. It can lift a token into an event and drop it just as fast afterward, and it does not build the sustained demand that holds a price up. A narrative bump around an IPO is plausible. A durable re-rating on sentiment alone is not, which is why this channel, while real, is the weakest foundation for a lasting move.

Channel two: Ripple’s escrow and sell behavior The most underappreciated channel runs through Ripple’s own balance sheet. Because Ripple holds a vast XRP escrow and sells tokens to help fund itself, anything that changes the company’s need to sell XRP changes the supply hitting the market. This is where an IPO could actually matter mechanically. A successful listing would raise cash and give Ripple a public currency, its own stock, to fund acquisitions and operations.

A cash-rich, publicly funded Ripple might lean less on programmatic XRP sales, easing a source of sell pressure that has weighed on the token for years. That is a genuine, if indirect, bullish path. Less selling from the single largest holder is a supply-side positive that does not depend on sentiment. It is the most concrete way an IPO could help XRP.

The two-sided catch is disclosure. Going public subjects Ripple to far heavier reporting requirements, which means the escrow, the sales, and the token’s role in Ripple’s finances would face new scrutiny from public-market investors and regulators. Greater transparency could reassure the market, or it could surface uncomfortable details about how much the company depends on token sales, which would cut the other way. The escrow channel is the strongest mechanical link, but its direction is not guaranteed.

Channel three: institutional access and validation The third channel is legitimacy. A public Ripple would sit inside the regulated financial system in a way it does not today, and that validation could radiate outward to the whole XRP ecosystem. The backdrop already leans this way: XRP was recognized as a commodity in March, and seven spot XRP exchange-traded funds are trading with roughly $1.43 billion in cumulative inflows. A high-profile Ripple listing would add another layer of institutional acceptance, potentially making allocators more comfortable holding XRP through regulated products.

The argument is that validation compounds. Each step that moves XRP from contested asset toward accepted infrastructure lowers the barrier for the next institution, and a Ripple IPO would be a large step. In a world where the token already has ETF access, a public parent company strengthens the case that the ecosystem is durable. That is also why XRP’s regulatory status matters more than the IPO hype itself: institutions care less about community excitement than about whether the asset can be held cleanly under durable rules.

The weakness is that validation of the company is not the same as demand for the token. Institutions can conclude that Ripple is a fine investment and express that view by buying the stock, which does nothing for XRP. Legitimacy is a soft tailwind, helpful at the margin, but it does not force anyone to buy the token. For a durable move, validation has to become measurable token demand, not just a better story around the issuer.

Channel four: the value-accrual problem This is the channel that breaks the simple story, and it is the most important. For an IPO to lift XRP durably, Ripple’s commercial success has to translate into demand for the token. But Ripple’s business and XRP’s value are only loosely coupled. Many of Ripple’s bank and payment partners use its software without touching XRP at all, and the company earns revenue from services, licensing, and acquisitions that do not route through the token.

Ripple can thrive as a company while XRP stagnates, because the token’s value depends on settlement usage and demand for XRP itself, instead of on Ripple’s profit and loss. This value-accrual gap explained is the reason a Ripple IPO is not the guaranteed catalyst holders imagine. An IPO rewards equity holders for the company’s success. It does not, by itself, create the on-chain demand that would lift the token.

Unless a listing changes how much XRP is actually used to move value, the mechanical link from Ripple’s public-market performance to the XRP price is faint. The token needs its own demand story, and the IPO does not write one. It may make Ripple more visible, more credible, and more valuable. None of that automatically makes XRP more scarce or more necessary.

The counter-case: an IPO could hurt XRP The overlooked possibility is that a Ripple listing works against the token. For years, buying XRP was one of the only ways for a public investor to express a view on Ripple’s success. An IPO removes that constraint by offering the pure play: if you want exposure to Ripple, you buy the stock, which actually owns the business, the revenue, and the growth. The token, which owns none of that, becomes the inferior vehicle for a Ripple bet.

That substitution could siphon capital and attention away from XRP toward the equity. Some of the speculative demand that flowed into the token as a Ripple proxy would rationally rotate into shares once shares exist. In this reading, the IPO does not transmit value to XRP at all. It competes with it.

The very event the community treats as the catalyst could turn out to be a drain, redirecting the Ripple trade into a security that leaves the token behind. That does not mean XRP must fall on a Ripple IPO. It means the direction is not obvious, because the listing creates both a halo effect and a substitute asset. The market would have to decide whether XRP remains the best way to trade Ripple’s ecosystem once Ripple stock exists.

What the evidence shows so far The cleanest test available is how XRP has behaved as Ripple’s private valuation has climbed. The answer is telling. Ripple’s secondary shares surged to about $136.90 and its valuation was fixed near $50 billion, and while XRP did briefly re-couple to that move on sentiment, the token still trades near $1, down roughly 26% on the year. If the transmission were strong, a 376% surge in Ripple’s private-share price should have dragged XRP sharply higher.

It did not. The token acknowledged the news and kept falling with the broader market. That is the empirical verdict: transmission exists, but it is weak. Ripple getting more valuable has not made XRP more valuable in any durable way, which is exactly what the value-accrual analysis predicts.

An actual IPO would be a bigger event than a private-share revaluation, so the sentiment bump could be larger. But the underlying mechanics that limited the private-market spillover would still apply to a public one. The stock would price Ripple’s business, while XRP would still need regulatory clarity, ETF flows, settlement usage, and broader market support. The link is real enough for traders to chase, but not strong enough to treat as automatic.

If the IPO is a weak lever, what is a strong one? The catalysts that genuinely drive XRP are the ones that change token demand or supply directly. Regulatory outcomes rank first: whether crypto market-structure legislation codifies XRP’s status cleanly, which affects how freely institutions can hold it. ETF flows rank second, because sustained inflows into the seven XRP funds are real, measurable demand for the token.

Settlement usage ranks third: whether XRP is actually used to move value at scale, against the escrow supply that keeps entering the market. That is where XRP fits in settlement becomes more important than the IPO narrative. XRP needs recurring use as a bridge asset or liquidity tool, not just Ripple’s name in public-market headlines. And the direction of Bitcoin and the broader market ranks alongside all of them, since XRP rarely fights the tape.

Against those, a Ripple IPO sits at the edge of the picture. It could add a sentiment bump, it could ease Ripple’s XRP selling, and it could burnish the ecosystem’s legitimacy. Each is a real but modest channel, and at least one plausible effect points the wrong way. The honest conclusion is that a Ripple IPO would be a meaningful corporate event that most likely moves XRP far less than the community expects, and possibly not in the direction they assume.

The Coinbase and Circle precedent The clearest way to test the transmission question is to look at crypto-adjacent companies that already trade publicly, because they show what happens when a company and the tokens around it are separated on public markets. Coinbase is the obvious case. Its stock gives investors exposure to the exchange’s revenue, which rises and falls with trading volume, but owning the stock is not the same as owning the assets that trade on it. When crypto rallies, Coinbase revenue tends to rise, so there is a loose correlation, yet the stock and the broader token market frequently move apart, because the equity is priced on the business and the tokens are priced on their own supply and demand.

Circle offers a sharper version of the lesson. Circle issues the USDC stablecoin, but USDC is a dollar-pegged token that does not float, so Circle equity captures the value of the issuing business, the reserves, the yield, the growth, while the token itself is designed to stay at a dollar. The company can be worth a great deal while the token it issues, by construction, accrues none of that equity value. That is the extreme illustration of the point: a token and its issuer’s stock can be almost entirely decoupled.

Congrats to @Bullish on a successful IPO! 👏

A portion of the IPO proceeds were settled in $RLUSD, minted on the XRP Ledger. This is the first public listing to bring the settlement process onchain and sets a precedent for how stablecoins can shape future listings. https://t.co/AD4AkpPnLD

— Ripple (@Ripple) August 19, 2025 XRP sits somewhere between these cases. It is not a dollar peg, so it can appreciate, but it is also not an equity claim on Ripple, so it does not capture the company’s growth the way shares would. Even when Ripple-linked infrastructure appears in real capital-markets events, such as stablecoin settlement using RLUSD on the XRP Ledger, the immediate value still tends to accrue to the rails, the issuer, or the company before it accrues to XRP itself. The precedent from public crypto companies is that the market prices the business and the token separately, and a listing that rewards the equity does not automatically reward the associated token.

A Ripple IPO would most likely follow the same script, with the stock absorbing the value of the business while XRP continues to trade on its own drivers. That does not make the IPO irrelevant. It makes it indirect. The market would finally have a clean way to buy Ripple, and that could clarify how much demand for XRP was really token demand versus company-proxy demand all along.

What a realistic IPO scenario looks like for XRP It helps to walk through how an actual Ripple listing would probably play out for the token, stage by stage, because the timeline reveals where the modest effects concentrate. In the announcement phase, when Ripple confirms an S-1 or a date, expect a sentiment spike: headlines, community excitement, and a short-term bid in XRP as traders position for the event. This is the sentiment channel firing, and it could produce a sharp but shallow move that fades as the news is absorbed.

In the run-up to the listing, attention would build, and XRP could trade with elevated volatility as speculation swings between the “IPO lifts XRP” and “IPO competes with XRP” theses. Some capital that had been using XRP as a Ripple proxy might already begin rotating toward the anticipated equity, capping the token’s upside even amid the excitement. The listing itself would be an equity event: shares price, the stock trades, and the value of Ripple’s business gets marked by the market. XRP would react mostly to the tone, a strong debut lifting sentiment, a weak one dampening it, rather than to any mechanical flow.

In the aftermath, the durable question resurfaces: does anything about a public Ripple change token demand or supply? If a cash-rich Ripple eases its XRP selling, that supply relief could support the token over time, the most concrete lasting benefit. If investors conclude the stock is the better Ripple bet, capital could keep rotating out of XRP into shares. The realistic net is a sentiment-driven spike around the event that mostly fades, a possible modest supply-side benefit if Ripple sells less XRP, and an ongoing competitive pull from the equity.

That is a meaningful corporate story with a muted and two-sided token effect, which is a long way from the moonshot the community pictures. The IPO could matter. It just would not erase the legal separation between the company and the token. XRP would still need its own demand engine.

Frequently asked questions Does owning XRP give you a stake in Ripple? No. XRP is a digital token that trades on public exchanges and confers no ownership of Ripple Labs, no shares, no dividends, and no claim on the company’s profits. Ripple the company and XRP the token are legally separate. A Ripple IPO would sell shares in the business, and holding XRP would give you no automatic right to those shares or their gains.

Has Ripple actually filed to go public? Not as of late June 2026. Ripple remains private with no S-1 on file and no confirmed date, and executives have repeatedly downplayed the urgency of a listing. The speculation is driven by signals such as a $750 million share buyback that fixed the valuation near $50 billion and a surge in private secondary shares to about $136.90, not by an official filing. That distinction matters because IPO speculation can move sentiment long before any legal filing exists.

Could a Ripple IPO raise the XRP price? It could, through weak and indirect channels. A listing could lift XRP on sentiment, could ease sell pressure if a cash-rich public Ripple relies less on XRP sales, and could add legitimacy to the ecosystem. None of these is a mechanical guarantee, and the evidence so far shows only faint transmission from Ripple’s rising valuation to the token. The stronger catalysts are still regulatory clarity, ETF flows, and actual XRP settlement usage.

How could an IPO hurt XRP? By offering a substitute. An IPO would let investors who want Ripple exposure buy the stock, which actually owns the business, instead of the token, which does not. Some speculative capital that flowed into XRP as a Ripple proxy could rotate into the equity once it exists, redirecting demand away from the token rather than toward it. That is why a Ripple IPO is not automatically bullish for XRP.

What is the value-accrual problem? It is the gap between Ripple’s success and XRP’s value. Many Ripple partners use its software without touching XRP, and much of its revenue does not route through the token. So Ripple can prosper as a company while XRP stagnates, because the token’s value depends on settlement usage and its own demand, not on Ripple’s profit and loss. This is why an IPO is not a guaranteed catalyst.

Did XRP move when Ripple’s private valuation rose? Briefly and weakly. When Ripple’s secondary shares surged to about $136.90, one analysis linked it to XRP re-coupling with the valuation on sentiment. But XRP still trades near $1, down about 26% on the year, so a large rise in Ripple’s private-share price did not drag the token durably higher. That points to weak transmission between the two.

What actually drives the XRP price? The strongest drivers are regulatory clarity on XRP’s status, sustained ETF inflows into the seven spot XRP funds, real settlement usage against the escrow supply, and the direction of Bitcoin and the broader market. These change token demand or supply directly. A Ripple IPO sits at the edge of that list, a modest and two-sided factor instead of a primary catalyst. The event may affect attention, but attention is not the same as recurring demand.

Would Ripple sell more or less XRP after an IPO? Possibly less, which would be the most concrete bullish channel. A listing would raise cash and give Ripple a public stock to fund operations and deals, potentially reducing its need to sell XRP from escrow. The offsetting risk is that going public brings heavier disclosure of the escrow and token sales, which could reassure or unsettle the market depending on what it reveals. The direction depends on what the filings show and whether Ripple actually changes its sell behavior.

Disclaimer: This article is for information purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency prices are highly volatile, and corporate plans such as an IPO are speculative and can change. Nothing here is a recommendation to buy or sell any asset. Always do your own research and consider consulting a licensed professional before making financial decisions. Figures are accurate as of July 1, 2026, and will change.

XRP is currently hovering close to a crucial support area as technical indicators and on-chain data point in different directions. While short-term rebound scenarios are being discussed, ongoing selling activity from large investors continues to exert downward pressure on the price. Against this backdrop, XRP’s near-term outlook appears set to fluctuate around the $1.06 level as July 2026 approaches.

Signs point to possible short-term recoveryOn the daily chart, the Tom DeMark Sequential indicator has triggered a “9” candle signal, viewed as a sign of exhaustion after the latest round of selling. This development suggests that the downward trend is weakening and a brief price recovery could be on the horizon.

Adding to the positive signals, XRP has formed a Morning Star Doji pattern over the past three sessions, which in technical analysis often indicates that downward momentum is fading and a local bottom may be forming. If buying volume picks up notably, the price could first target $1.27, followed by the $1.35 zone.

Network data reveals higher usageOn-chain activity on the XRP Ledger has accelerated in recent weeks. Data from Santiment shows that the number of daily active addresses has risen from 23,000 to around 40,000, marking an almost 50% increase in a short period. The XRP Ledger is known as the distributed ledger infrastructure where transactions in the Ripple ecosystem are recorded.

Santiment noted that some of the address increase may be driven by internal movements between wallets, rather than new demand.

This assessment suggests that while on-chain activity is rising, it does not necessarily confirm strong market demand on its own. Nevertheless, the growing usage is not being dismissed entirely, as it could support liquidity conditions and influence price dynamics.

Large investor sales highlight key supportDespite these positive signals, significant attention is being drawn to ongoing sales by large holders. According to Santiment, major investors—often referred to as whales—have sold over 30 million XRP within the past five days. If this selling continues, it could limit any potential upward movement in the short term.

Data from Glassnode highlights the $1.06 level as a critical support point for XRP. More than 830 million XRP have previously changed hands in this zone, making it an area closely watched by analysts as a potential region where buyers could return in strength.

If the price remains above $1.06, the prospects for a short-term recovery improve. However, if this support is breached, subsequent support levels are seen at $0.80, $0.62, and $0.51. Currently, XRP finds itself at a pivotal point, with bullish signals and selling pressure creating a delicate balance in the market.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Blockchain development firm Peersyst has revealed plans for a major new upgrade to the XRP Ledger EVM sidechain, known as XRPL EVM. This sidechain brings Ethereum-compatible smart contract capabilities to the XRP Ledger. The company stated that version 11 of the software will strengthen economic security, make cross-chain operations safer, improve validator management, and enhance the resilience of the network’s infrastructure.

Testnet proposal might arrive this weekAccording to Peersyst, an initial proposal for the upgrade could be introduced on the testnet as early as this week, with the transition to the mainnet to follow. The XRPL EVM sidechain was first launched on mainnet in June 2025. Since then, the network has undergone gradual improvements, including the integration of Ripple’s RLUSD stablecoin into the ecosystem in June.

Peersyst highlights that the main goal of version 11 is not to introduce new features, but to make the network more secure, resilient, and easier to operate.

The company also noted that many of the changes introduced in this release may not be immediately noticeable to developers or end-users. Nevertheless, the upgrade is expected to play a fundamental role in ensuring the long-term security and stability of the network.

Two major changes in validator structureVersion 11 brings a range of new developments, particularly in validator management, cross-chain infrastructure, and internal security processes. Peersyst describes this as a security-first update. The highlights include bolstering economic security, reducing the network’s attack surface, and strengthening both the validator and IBC layers.

Mini glossary: IBC refers to the communication layer that enables different blockchains to transfer data and assets between each other. Proof of Authority is a consensus model where validators are selected based on an authorization mechanism, rather than open participation.

XRPL EVM operates using the Proof of Authority consensus model. In this system, joining the validator set depends on approval from a designated authority instead of open staking. With version 11, the standard method for creating validators will be closed after network launch, effectively preventing any party outside the authorized mechanism from joining the validator set.

The update also introduces a significant change in how validators leave the system. Now, validators will be able to exit the network at their own discretion, without having to wait for intervention from the authority. This move is intended to streamline operational processes and provide more flexibility in validator management.

AI-powered audit processPeersyst also disclosed that the XRPL EVM sidechain now undergoes regular, AI-supported security audits. Version 11 will be the first release to fully benefit from this new end-to-end audit process. The company aims for this approach to make internal security processes more systematic and to support earlier identification of potential vulnerabilities.

The v11 release is described as a comprehensive update package that prioritizes economic security, minimizes attack surfaces, and reinforces both validator and IBC layers.

This approach underscores Peersyst’s commitment to enhancing the robustness and resilience of the XRPL EVM sidechain. The company is focused on long-term improvements rather than short-term feature additions, and these changes are positioned as vital for the ecosystem’s future stability.

Although end-users and developers may not immediately notice direct impacts, Peersyst emphasizes that these underlying changes are expected to fortify the network’s foundation. The improvements align with industry best practices on blockchain security and validator governance.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Ripple News and XRP Price Update Today: July 1

The cryptocurrency market trades under intense headwinds on Wednesday, led by Bitcoin’s (BTC) deepening sell-off below $60,000. The Crypto King hovers above $58,000.

Altcoins such as Ethereum (ETH) and Ripple (XRP) are tracking Bitcoin’s downward momentum, with ETH confined to the $1,500–$1,600 range and XRP testing critical support at the $1.00 level.

Crypto sentiment remains fragile as capital outflows persistSentiment in the broader crypto market remains significantly subdued, as reflected in the Fear & Greed Index, which holds in Extreme Fear territory at 11 on Wednesday, down from 15 the previous day. Persistently weak risk appetite dampens demand for risk assets and constrains price movement across the market.

Crypto Fear & Greed Index | Source: AlternativeOutflows from US-listed Bitcoin spot Exchange-Traded Funds (ETFs) underscore waning institutional interest, with $223 million withdrawn on Tuesday alone. This marks the ninth consecutive day of net redemptions, reinforcing the ongoing bearish narrative.

Despite the outflows, cumulative inflows remain positive at $51.15 billion, while net assets under management average $70.95 billion.

Bitcoin ETF flows | Source: SoSoValueEthereum spot ETFs present a similar grim picture to BTC, with outflows totaling $28 million on Tuesday, down slightly from $30 million on Monday. According to SoSoValue, ETH ETF outflows have persisted for the ninth consecutive day, reflecting ongoing market caution.

Despite the current market headwinds, cumulative inflows hold steady at $10.85 billion, with total assets under management at $8.33 billion, signaling that conviction among long-term investors remains resilient.

Ethereum ETF flows | Source: SoSoValueInterest in XRP spot ETFs took a downturn, with nearly $3 million in outflows on Tuesday, after logging two consecutive days of notable inflows totaling $16 million on Friday and $15 million on Monday.

Cumulative inflows hold steady at $1.48 billion while net assets under management average $944 million, according to SoSoValue data. Appetite for XRP investment products has remained relatively steady despite the headwinds experienced in recent weeks.

XRP ETF flows | Source: SoSoValuePrice analysis: Bitcoin extends losses amid technical weaknessBitcoin trades at above $58,000, keeping a clear bearish bias as price sits well below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs).

The Moving Average Convergence Divergence (MACD) histogram remains slightly negative while both lines hover below the zero line on the daily chart, and the Relative Strength Index (RSI) holds near 30, which together suggests persistent but somewhat fatigued downside momentum rather than an imminent bullish reversal.

BTC/USDT daily chartOn the topside, initial resistance emerges at the 50-day EMA near $66,333, with further barriers at the 100-day EMA around $70,124 and the broken descending trendline region close to $75,348, before the broader bearish cap from the 200-day EMA at about $76,174. This is the first time Bitcoin has traded around the $58,000 psychological support since September 2024, underscoring the broader bearish outlook. Other key areas of interest for traders include $56,000 and $52,000, where investors may reengage to increase exposure.

Altcoins technical outlook: Ethereum and XRPEthereum trades at $1,575 maintaining a bearish near‑term bias as the spot price holds well below the key moving averages. The 50‑day EMA at roughly $1,814 sits as the nearest dynamic cap, with the 100‑day EMA around $1,994 and the 200‑day EMA near $2,286 reinforcing a broader downtrend structure.

The MACD histogram has inched into positive territory on the daily chart, hinting at a modest attempt to stabilize, but the RSI hovering in the mid‑30s suggests that rebounds are still occurring within a weak, corrective context rather than a sustained trend reversal.

ETH/USDT daily chartOn the topside, immediate resistance lies at the 50‑day EMA around $1,815. A daily close above this zone would be required to ease the current downside pressure and open the way toward the descending trendline resistance near $1,946. Beyond these barriers, the 100‑day EMA at about $1,994 and the 200‑day EMA close to $2,286 form successive hurdles that would need to be reclaimed to shift the medium‑term outlook back toward a constructive bias. Looking down, trading below the narrow range support at $1,500 could reinforce an extended bearish trend.

XRP trades at $1.04, keeping a bearish near-term tone as it sits well below the 50-day, 100-day and 200-day EMAs clustered from roughly $1.19 to $1.52. The long-standing descending resistance trendline, with a break price around $1.23, continues to cap the broader structure, while the RSI hovering near 33 on the daily chart hints at lingering weak momentum rather than a decisive oversold rebound.

The MACD histogram holds just below zero with a marginally negative reading, suggesting downside pressure is fading but not yet reversed.

XRP/USDT daily chartOn the topside, initial resistance lies at the 50-day EMA near $1.19, with the trendline break area around $1.23 acting as the next barrier if buyers attempt a recovery. Above that, the 100-day EMA around $1.30 forms a more substantial cap, ahead of the 200-day EMA near $1.52, which defines the upper boundary of the broader bearish regime. Conversely, price action below the current area at $1.04 will be driven by whether sellers can extend the current slide or if oversold conditions entice a corrective bounce back toward those overhead EMAs. The next psychological support lies at $1.00.

(The technical analysis of this story was written with the help of an AI tool.)

Crypto ETF FAQs An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.

Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.

Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.

The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.

US-listed Bitcoin (BTC) exchange-traded funds (ETFs) recorded $4.5 billion in net outflows during June 2026. This was the worst monthly figure since the products launched in January 2024.

The redemptions coincided with a sharp price decline. Bitcoin fell 20.48% over the month, its steepest monthly drop since June 2022, when the asset shed 37.28% during that cycle’s collapse.

IBIT Leads the Institutional RetreatJune’s outflows broke the previous monthly record of $3.56 billion, set in February 2025 during an earlier stretch of market stress.

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Bitcoin ETF Monthly Flows. Source: SoSoValueBlackRock’s iShares Bitcoin Trust (IBIT) accounted for the bulk of the outflows. The fund alone shed $3.55 billion, close to 79% of the category’s total redemptions.

That concentration is striking. IBIT’s single-fund outflow nearly matched the entire category’s prior monthly record on its own.

The price data reinforces the pressure. Bitcoin closed four of 2026’s first six months in negative territory, with June’s 20.48% decline the deepest of the year.

How Crypto ETFs Performed in June 2026The weakness extended beyond Bitcoin, though the scale varied across categories. Ethereum (ETH) ETFs posted $528.99 million in June outflows, SoSoValue data showed.

Solana (SOL) ETFs recorded net outflows of roughly $786,580. The figure is small, but it marks the first monthly outflow for Solana ETFs since their launch, ending a run of positive months.

Top Crypto ETFs Performance in June. Source: BeInCryptoNot every category turned negative. XRP (XRP) ETFs drew $59.46 million in net inflows during June, holding positive despite the broader downturn.

Hyperliquid (HYPE) ETFs led the group with $161.05 million in inflows, the strongest June showing across the products.

The split suggests capital rotated within crypto rather than exiting entirely. Newer altcoin products absorbed fresh money even as the two largest categories saw sustained redemptions.

Whether that rotation hardens will depend on how Bitcoin trades in July, since a price rebound could pull capital back toward the incumbents.

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Key Takeaways On June 26, XRP touched $1.009, marking its lowest level since November 2024 Despite the price decline, XRP spot ETF inflows remained in positive territory Technical analysis reveals a sustained downtrend originating from July 2025 Open Interest has found equilibrium around 400 million XRP, indicating reduced speculative fervor Bullish divergence patterns on daily timeframes hint at potentially weakening bearish momentum near the $1 threshold On June 26, 2026, XRP declined to $1.009, representing the token’s lowest point since it last visited these levels in November 2024.

XRP Price The decline occurred against a backdrop of continuing positive flows into XRP spot exchange-traded funds. Market participants continued accumulating through these investment vehicles despite downward price momentum.

While ETF accumulation reduces circulating supply available for trading, this dynamic has yet to catalyze upward price movement given prevailing market sentiment.

Overall market appetite for XRP has diminished considerably over recent months, accompanied by a notable contraction in speculative trading activity.

Technical Analysis Overview The daily timeframe reveals XRP locked in a downward trajectory that originated in July 2025. The decisive break beneath the April 2025 swing low at $1.61, which occurred in February, validated the bearish market structure.

Source: TradingView Following this breakdown, XRP consolidated within a defined range for multiple months. Late May witnessed an aggressive selling wave that shattered this consolidation pattern and accelerated the downside move.

A temporary recovery pushed prices toward $1.30 before momentum faded, leaving XRP hovering around $1.05.

Futures market data indicates Open Interest has stabilized at approximately 400 million XRP. The corresponding Open Interest Turnover Ratio has maintained levels near 0.71.

According to analyst Arab Chain, market participants should monitor these indicators for sudden increases. Rapid expansion in either Open Interest or turnover ratio typically precedes elevated volatility periods.

Examining the 4-hour chart, XRP rallied to $1.2935 during mid-June. This advance reached the 78.6% Fibonacci retracement zone around $1.2985 before encountering renewed selling pressure.

Should the bearish trajectory persist, potential downside objectives emerge at $0.975 and $0.854. Market probabilities favored a breach below $1 during July.

Potential Support Dynamics An alternative technical interpretation presents a more constructive outlook. XRP has consistently rebounded from the $0.90-$1.00 zone, establishing this region as durable support through multiple challenges.

The $1.13 level has transitioned from support into resistance. A successful reclaim of this threshold would indicate emerging bullish momentum.

A bullish divergence pattern on daily charts has persisted for approximately one week. Such formations typically suggest diminishing selling intensity rather than imminent capitulation.

On social platforms, trader Celal Kucuker stated XRP should maintain current support levels and projected a potential climb to $10 within the next twelve months, acknowledging significant volatility along that path.

XRP won't lose the blue support, in my opinion.

$10+ within the next 12 months. $XRP will be an incredibly volatile ride.

Within 3 years, I believe Ripple will overtake Ethereum by market cap. pic.twitter.com/g7rYXi6Rzp

— Celal Kucuker (@CelalKucuker) June 29, 2026

Technical analyst ChartNerd identified a repeating accumulation structure observed during previous bear cycles, highlighting historical drawdowns ranging from 85% to 96% spanning 14 to 37 months, contrasting with the current 72% retracement over 11 months.

🎯 $XRP CHART UPDATE

A recurring "CURVE" and accumulation pattern during bear market drawdowns before major breakouts is a common pattern.

Prior declines & ranges marked between -85%/-96% drops over a period of 14-37 months; this pullback is currently 72% deep after 11 months. https://t.co/sK43niAe7w pic.twitter.com/I0iFtEdWdp

— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) June 29, 2026

The immediate focus centers on the $1.00 threshold. Maintaining this level preserves the possibility of retesting $1.13 resistance, while a breakdown would expose the $0.87-$0.90 support zone.

According to blockchain data, major RLUSD burns took place on the XRP Ledger (XRPL) on Tuesday. The market cap of the token has now shrunk to just $1.4 billion, CoinGecko data shows. 

Roughly 146 million tokens have been destroyed within hours, the data shows. The burns were significant enough for Ethereum to overtake the XRPL as the primary network for RLUSD issuance.

At its peak, the stablecoin's total market capitalization reached nearly $1.9 billion.  

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Fresh competition The decline has notably coincided with the arrival of Open USD (OUSD), which is a new major USD stablecoin. 

As reported by U.Today, Ripple announced that it had joined a consortium of more than 140 financial, technology, and crypto companies that will adopt the new dollar-pegged cryptocurrency with a shared governance model.

The initiative includes major names such as BlackRock, Mastercard, Google, Visa, and Stripe. Open USD will be operated by the independent Open Standard organization, which sets it apart from other offerings. 

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USDC will aspire to solve longstanding issues surrounding scalability, governance, and incentives.  

The development has prompted discussion within the XRP community about how Open USD could affect Ripple's own dollar-pegged stablecoin.

X user @nietzbux welcomed Ripple's participation, arguing that a consortium-backed stablecoin could accelerate crypto adoption and actually benefit XRP.  

I'm happy Ripple didn't buy Circle.

Open USD is fantastic for crypto adoption. Because this is an actually neutral stable, everyone will use it, & crypto rails will become ubiquitous for the public.

The bigger the pie grows, the better for $XRP.

Happy Ripple is a partner.

— nietzbux (@nietzbux) June 30, 2026 Others questioned the implications for RLUSD. Anodos CEO Panos Mekras noted that Open USD would inevitably compete with Ripple's existing stablecoin, which is also quite obvious.  

Yes, but OUSD also competes with RLUSD so where does this leave RLUSD?

— Panos 🔼🇬🇷 (@panosmek) June 30, 2026 Circle shares remain under pressure The announcement appears to have affected Circle, which had its blockbuster IPO earlier this year. 

Shares of Circle fell more than 15% after the introduction of the major competitor.

However, analysts at William Blair described the selloff as an overreaction, arguing that USDC's established liquidity and market position would be difficult for any newcomer to replicate.

"We welcome continued innovation and competition in the space and look forward to remaining laser-focused on building the best stablecoin infrastructure possible and driving more customer and partner success," Circle CEO Jeremy Allaire stated in a recent social media post. 

Stablecoins represent one of the largest market opportunities in the world as the internet transforms the infrastructure for storing and moving money. We deeply believe in this, and it’s why we both founded Circle and why we’ve invested to build the largest regulated stablecoin…

— Jeremy Allaire - jerallaire.arc (@jerallaire) June 30, 2026

Evernorth, a Ripple-backed XRP treasury firm, has published a report on RLUSD stablecoin and XRP. It underscores the growing influence RLUSD has had on activity on the XRP Ledger. It stated that the stablecoin is not a rival to XRP, but is being built to support it.

Evernorth Explains How Ripple’s RLUSD Supports XRP The report states that RLUSD has become a major player in on-chain trading, liquidity, and transaction volume. Evernorth said that blockchain data does not support concerns of Ripple’s RLUSD replacing XRP, it is running on it.

During 2026, the firm said that the percentage of all trading on the XRP Ledger conducted by RLUSD went from below 1% to about 12% on-chain. The volume of the trading pair RLUSD/XRP during the past six months was about $900 million. It was used for nearly 90% of all trading on the network in this pair.

Since the launch of the stablecoin, over $2.5 billion in total trading volume has passed through RLUSD pairs on XRP, Evernorth announced. The report noted that all XRP transactions at RLUSD are paid at the XRP transaction fee that is also denominated in XRP. With this, it provides “real economic throughput” for the network.

2/5 RLUSD went from under 1% of all trading on XRP to ~12% in under 18 months. When people trade on XRP now, they’re increasingly trading the dollar, and every one of those trades settles on XRP. pic.twitter.com/ycpd1BIlOr

— evernorthxrp (@evernorthxrp) June 30, 2026

Another major finding was that RLUSD was one of the most traded issued assets on XRPL. The volume of trading transactions related to RLUSD grew from approximately 54,000 a month in December 2024 to anywhere between 600,000 and 1.1 million a month. Evernorth added that the sole use of RLUSD is now generating about 1 million transactions per month on the XRP Ledger.

RLUSD Gains Traction On XRPL In addition to trading volume, RLUSD has also had a massive increase in its circulating supply on XRP Ledger. Evernorth is estimating that RLUSD on XRP Ledger doubled its value from approximately $20 million at the end of 2024 to over $800 million by late in June 2026. The report also claimed that XRP Ledger “about 51%” of RLUSD supply, which is higher Ethereum.

Its network footprint has also spread. There were 45,527 XRP Ledger accounts holding 93,898 trust lines on RLUSD as of June 25. The volume of direct payments rose from about $68 million in December 2024 to over $5 billion in May 2026. It is a sign of growing institutional-scale use throughout the network, the report added.

If you’re looking for decentralized futures trading, visit our page on Perp DEXs.

The XRP Ledger Foundation has announced a partnership with VS1 Finance to develop an open source reference application for regulated and permissioned lending operations on the XRP Ledger. The initiative aims to demonstrate how credit processes requiring regulatory compliance can be managed directly on the network’s native infrastructure, paving the way for compliant financial solutions in the digital asset space.

Open source solution targets institutional adoptionThe forthcoming application will provide developers and financial institutions with a transparent, adaptable framework that can be reviewed and tailored for a variety of credit use cases. Rather than building proprietary, closed-source systems from scratch, institutions will be able to leverage this foundational software to create their own compliant lending products more efficiently.

The XRP Ledger Foundation is recognized as a nonprofit organization dedicated to supporting the XRP Ledger ecosystem. Within this collaboration, VS1 Finance will focus on designing the regulatory-compliant credit infrastructure that forms the backbone of the new system.

By launching an open source reference application rather than closed and proprietary software, the XRP Ledger Foundation and VS1 Finance aim to enable institutions to develop compliant credit solutions on the XRP Ledger at a faster pace.

The project will incorporate key features: user identity management, permissioned zones, single-asset vaults, and the core XRP Ledger credit protocol. Together, these components are expected to enable a more transparent credit structure, eliminating the need for external protocols and enhancing system integrity.

Glossary: Permissioned zones refer to network segments accessible only to users or entities meeting specific criteria. Single-asset vaults are structures in which collateral or credit is managed around a single digital asset.

Regulatory compliance shapes blockchain competitionInstitutional adoption is increasingly seen as a critical driver of growth in blockchain technology. Banks and financial firms, however, commonly require infrastructure that adheres to regulatory standards before embracing distributed ledger solutions.

This dynamic has accelerated the development of enterprise-level blockchain products targeting not just individual users, but also banks, asset managers, and corporations. Networks that can deliver regulatory-compliant financial services are expected to gain a significant competitive edge in the evolving landscape.

Aligned with recent progress on XRP LedgerThe new undertaking continues a trend of institutional-focused improvements within the XRP Ledger ecosystem, including the rollout of the AMM v2 update in May 2026. This protocol upgrade was specifically designed to support stablecoins, foreign currencies, and tokenized securities, further broadening the network’s capabilities.

Meanwhile, Ripple has been expanding RLUSD payment channels through Bitso and investing in Flutterwave. However, the ultimate success of this new lending model will depend on whether institutions move beyond testing to adopt the solution in real-world applications.

The main goal of the partnership is not simply to deliver a new lending service, but to build a foundation for a range of future institutional applications. Success will be measured by the extent to which participating organizations transition from pilot programs to full-scale implementation.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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Leading cryptocurrencies reversed course on Tuesday amid negative sentiment in the market, but analysts believe the sell-off may have carved out a bottom.

Crypto Market RetreatsBitcoin pulled back to about $58,000 after Monday’s surge, while 24‑hour trading volume ticked up slightly. Ethereum pulled back from $1,600 and traded around the $1,500 level, while XRP and Dogecoin slipped modestly.

Nearly $250 million was liquidated from the cryptocurrency market in the last 24 hours, with $183 million in bullish long positions alone erased, according to Coinglass data.

Bitcoin’s open interest rose 1.52% over the last 24 hours. An increase in open interest when the price falls indicates a short buildup, meaning sellers are entering the market to create new short positions.

"Extreme Fear" sentiment persisted in the market, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.07 trillion, broadly unchanged over the last 24 hours.

Dow Hits New Closing HighDow finished June 2.43% higher, while the S&P 500 and the Nasdaq slid 1.32% and 3.22%, respectively.

Bitcoin Inside ‘High-Coviction Accumulation Zone’Ali Martinez, a widely followed cryptocurrency analyst and trader, noted that Bitcoin’s supply in loss has exceeded its supply in profit for the first time in this cycle.

Martinez said that this on-chain crossover has historically aligned with “major” cycle bottoms in 2011, 2014, 2018, and 2020.

“While historical data shows that the duration of these crossover periods can vary from a few weeks to several months before a primary trend reversal begins, it confirms that BTC is currently trading inside a high-conviction accumulation zone,” the analyst added.

On-chain analytics firm CryptoQuant highlighted a negative Coinbase Premium Index for Ethereum, suggesting high selling pressure from U.S. institutional investors. At the same time, funding rates on Binance have turned negative, which suggests leveraged traders are leaning bearish.

“The combination of deeply negative funding rates and a discount on Coinbase often characterizes a ‘Wall of Worry,'” the analytics firm said. “Historically, when speculative sentiment is this depressed while organic supply is being absorbed by staking, it creates a fragile environment for short-sellers.”

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Cryptocurrency analytics company CryptoQuant reported increased selling pressure in the XRP futures market.

According to the company’s assessment, the funding rate for XRP futures contracts traded on Binance has fallen to approximately -0.0139, reaching its lowest level in the last three months.

CryptoQuant noted that this drop in funding rates during the period when XRP was trading around $1.05 indicates a shift in investor sentiment in the derivatives market towards short positions. Negative funding rates show that demand for short positions exceeded demand for long positions, suggesting that investors believe downward pressure on the price may continue in the short term.

According to the analysis, XRP funding rates have fluctuated between positive and negative zones in recent months. Periods of positive funding generally coincided with increases in the XRP price and increased demand for long positions. However, in recent weeks, as the upward momentum has weakened, negative funding rates have become more dominant.

CryptoQuant stated that the current outlook indicates a cautious stance in the futures market, with investors shifting towards more defensive strategies rather than opening new long positions.

However, the company noted that extremely low funding rates should not always be interpreted negatively. If short positions become overcrowded in the market, a strengthening of spot demand or the emergence of a positive catalyst could lead to the closing of short positions. In this scenario, a sudden recovery in the XRP price, known as a “short squeeze,” could be observed.

*This is not investment advice.

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Despite ongoing turbulence in the crypto ETF market putting pressure on many products, funds focused on XRP have stood out as a rare sector where institutional demand remains strong. According to SosoValue data, XRP ETFs attracted a total of $15.34 million in new inflows on the last trading day of June 29.

Bitwise leads the inflowsOf the total daily inflow on June 29, $11.94 million was funneled into Bitwise’s XRP ETF product, making Bitwise the fund with the highest daily inflow in this segment. Market data suggests that Bitwise clients were the main drivers of this positive momentum.

Recognized as a prominent asset manager specializing in digital assets, Bitwise provides institutional investment solutions across the crypto markets.

IndicatorDataTotal XRP ETF inflow on June 29$15.34 millionBitwise daily inflow on the same day$11.94 millionBitwise cumulative net inflow$505.17 millionSince the launch of the Bitwise XRP ETF in November 2025, its cumulative net inflow has reached $505.17 million. Despite a decline in XRP prices in recent months, inflows into the fund have largely continued, highlighting ongoing institutional interest in this product.

On June 29, of the $15.34 million flowing into XRP ETFs, $11.94 million was directed to the Bitwise fund, making it the dominant player for the day.

XRP stands out in ETF performanceOver the past three months, XRP ETFs have outperformed Bitcoin, Ethereum, and the wider group of crypto ETFs in daily performance. The key takeaway here is that while other products have continued to see outflows, inflows to XRP funds have remained stable.

The data indicates that institutional interest in XRP is gaining strength relative to larger market-cap assets. However, this resilience in ETF demand has not translated into equivalent gains in the XRP spot price.

In the past three months, XRP has surpassed both Bitcoin and Ethereum in ETF inflows, maintaining more balanced entries as other major crypto products faced ongoing weakness.

Price impact remains limitedAnalysts note that ongoing demand for XRP ETFs could potentially have a more visible mid-term impact on price. Nevertheless, there remains a noticeable disconnect between institutional fund inflows and actual spot market performance at this stage.

As a result, while robust inflows into XRP ETFs are drawing attention, additional data is needed before a clear price recovery trend can be confirmed.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Tue, 30/06/2026 - 15:21

Ripple has joined an unprecedented consortium of over 140 financial, technological, and crypto heavyweights, including BlackRock, Mastercard, Google, and Visa, to adopt "Open USD."

Cover image via U.Today

Ripple has been included on the list of the 140 financial, technological, and crypto heavyweights that will use a new stablecoin that has been dubbed "Open USD." 

The product, which has been backed by titans of the likes of Mastercard, BlackRock, Google, and Visa, and Stripe, aims to address various bottlenecks that have hampered the growth of the stablecoin market (scalability, governance, and other issues). 

 Open Standard, an independent entity, will be responsible for issuing and operating the new stablecoin, meaning that it will not be controlled by a single corporate issuer. 

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A new stablecoin model? The current stablecoin ecosystem often burdens large-scale businesses with prohibitive minting and redemption fees. At the same time, third-party issuers hoard the lucrative yield generated by the underlying cash reserves.

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The new stablecoin is specifically addressing these bottlenecks. Participating businesses will be able to mint and redeem Open USD entirely free of charge. The earnings generated by the stablecoin will be shared by all of the partners. What is notable is that the consortium model also prevents unilateral changes to the protocol. 

TradFi, big tech, and cryptoRipple has notably aligned with traditional payment giants like Mastercard, Visa, and American Express, as well as institutional banking heavyweights like BlackRock and BNY. 

The project also boasts the backing of major tech platforms such as Google, DoorDash, and Shopify, alongside crypto-native firms like Coinbase, Fireblocks, and Solana.

Open USD will offer Ripple a highly liquid rail for cross-border settlement and decentralized finance operations. 

It remains to be seen how Ripple's USD (RLUSD), Ripple's own highly regulated stablecoin with a market cap of $1.4 billion, will fit into this. 

Mastercard has noted that it will require "trusted networks, broad participation, and collaboration across the industry."

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Cryptocurrency analyst Ali Martinez has released his latest roadmap for XRP, blending on-chain data with technical indicators to assess the token’s outlook. According to Martinez, XRP breached the crucial $1.06 support level, a move that signals the potential for a deeper downward trend in the market.

Loss of $1.06 support highlights further riskData on price distribution reveals that more than 830 million XRP tokens have changed hands around the $1.06 mark. This level had previously served as one of the strongest defense zones for buyers. As of June 30, XRP’s price slipped below this heavy-volume area, dropping to $1.03 and intensifying pressure on the technical outlook.

With this break, many investors who took positions near $1.06 are now in the red. This creates a potential resistance region, as rising prices could encounter increased selling pressure from holders seeking to break even. Martinez also notes that bullish signals observed on the daily chart have weakened due to this latest development.

Ali Martinez emphasizes that unless XRP reclaims the $1.06 level, any rebound could amount to little more than a temporary pause rather than a lasting reversal.

Whale selling diverges from retail activityMartinez points to a significant divergence among XRP holders. Large wallet investors—so-called whales—have opted to sell in line with the broader market’s declining liquidity, while smaller investors continue to try to absorb the selling pressure.

The number of daily active addresses on the XRP network has surged by roughly 50%, approaching 40,000. This uptick indicates ongoing interest from individual investors. Nonetheless, such heightened participation has not been enough to alter the overall bearish price outlook on its own.

Glossary: The TD Sequential indicator is a technical analysis tool used to spot short-term exhaustion and possible reversal points in price movements. It does not issue directional signals by itself and is typically used alongside support, resistance, and volume metrics for confirmation.

On the daily chart, TD Sequential flashed a local rebound signal that has kept some optimism alive in the short term. However, Martinez cautions that without a move back above $1.06, the potential impact of this signal remains limited.

Two main downside targets emerge on weekly chartIn the weekly timeframe, XRP has encountered resistance at the upper band of its long-term ascending channel. Martinez’s latest analysis indicates that the failure to maintain $1.06 spotlights two main downside targets.

The first target sits at $0.80, which corresponds to the middle region of XRP’s trading channel and hosts a significant volume block. The second, more critical target is $0.70—a level where global trend support coincides with areas of previous accumulation.

Martinez’s roadmap suggests the likelihood of continued decline has increased, with weekly candle closes serving as the key determinant for market direction. Should selling by whales persist and retail holders capitulate, XRP could face an additional correction approaching 30%.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Ripple (XRP) is holding above the key $1.00 psychological support level at the time of writing on Tuesday, even as the market endures a protracted downturn that began in mid-June.

The drawdown underscores the prevailing risk-off mood across the crypto space. However, XRP is seeing renewed momentum, highlighted by a sharp uptick in on-chain activity and consistent institutional inflows.

XRP network activity risesThe XRP Ledger (XRPL) is witnessing a notable surge in network activity, with daily new wallet creations approaching 5,000, a level not seen in the past three months, according to Santiment data. This uptick suggests that despite sustained price pressure near the $1.00 mark, investor engagement remains resilient, with participants capitalizing on this key psychological support.

XRP Ledger network activity | Source: SantimentMarket sentiment is also turning increasingly positive around the $1.00 level, with bullish commentary now outnumbering bearish remarks by 3.7 to 1, underscoring the level’s appeal as a dip-buying opportunity.

“Part of this optimism comes from XRP’s familiar rebound history, ongoing ETF and institutional narratives, and the idea that larger holders have continued building exposure even during ugly price action,” Santiment analysts stated.

XRP spot Exchange-Traded Funds (ETFs), on the other hand, continue to post inflows defying the current bearish outlook in the crypto market. Inflows into US-listed ETFs steadied above $15 million on Monday, bringing cumulative deposits to $1.48 billion and net assets under management to $972 million.

The sustained uptake of XRP ETFs shows that institutions see a bullish picture and are willing to increase exposure even as prices falter near the psychological support level of $1.00.

XRP ETF flows | Source: SoSoValuePrice analysis: XRP sustains bearish outlookXRP trades at $1.04, keeping a clear bearish near-term tone as it sits well below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs) at $1.20, $1.31 and $1.52 respectively. The Bollinger Bands show spot trading beneath the middle band at $1.12 and relatively close to the lower band support at $1.00, hinting at persistent downside pressure.

At the same time, momentum indicators reinforce this capped structure, with the Moving Average Convergence Divergence (MACD) histogram slightly negative on the daily chart and the Relative Strength Index (RSI) hovering near 32, suggesting weak demand with a modestly oversold bias rather than a decisive reversal.

XRP/USDT daily chartOn the topside, initial resistance emerges at the Bollinger middle band near $1.12, followed by clustered EMA resistance from the 50-day at $1.12 and the upper Bollinger band around $1.24, before a more substantial barrier at the 100-day EMA at $1.31 and the broader bearish cap imposed by the 200-day EMA at $1.52.

Looking down, the immediate focus is the pivot around the current trading area near $1.04. A daily close below this level would open the way toward the Bollinger lower band support at $1.00, where buyers could attempt to stabilize price before any meaningful recovery attempt toward the overhead moving averages.

(The technical analysis of this story was written with the help of an AI tool.)

Crypto ETF FAQs An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.

Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.

Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.

The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.

Ripple has unveiled a proposed lending protocol for the XRP Ledger that would allow financial institutions to borrow digital assets without selling their holdings, expanding the network’s institutional finance capabilities.

Summary

Ripple has proposed an XRP Ledger lending protocol for institutional borrowers and lenders. The system lets institutions borrow digital assets without selling token holdings. The proposal now awaits XRP Ledger validator approval after devnet testing. According to a proposal published by Ripple, the new XRP Ledger Lending Protocol is designed to fill what the company describes as a missing piece in blockchain-based finance. While tokenization has simplified the issuance and transfer of digital assets, Ripple argues that lending, collateral management, and credit infrastructure have not advanced at the same pace.

The proposal would support lending markets for tokenized U.S. Treasuries, money market funds, stablecoins, commodities, private credit, and other real-world assets on the XRP Ledger. 

Rather than embedding credit decisions into blockchain code, Ripple said lenders and borrowers would negotiate loan terms and complete compliance checks off-chain before transactions move to the network for execution.

Credit decisions stay off-chain while loan servicing moves on-chain Ripple said the protocol separates institutional credit assessment from blockchain settlement. Once a loan has been approved, the XRP Ledger would automate operational tasks including interest calculations, repayment schedules, loan servicing, and default management.

According to Ripple, this structure was intentionally designed to keep underwriting and regulatory requirements under the control of financial institutions while using the blockchain for standardized execution. The company said this approach mirrors how traditional financial markets separate credit decisions from settlement infrastructure.

The proposal introduces two core building blocks. A Single Asset Vault would pool a single token for lending, while a dedicated Lending Protocol would manage loan origination, servicing, and repayment. Ripple said separating custody from lending infrastructure follows the model already used in conventional capital markets.

As one example, Ripple said a payment provider holding reserves of RLUSD could obtain short-term liquidity through the protocol while waiting for cross-border transactions to settle. According to the company, doing so would allow institutions to avoid liquidating reserve assets or relying on higher-cost bank credit facilities.

Institutional access depends on validator approval Compliance remains a central part of the proposal. Ripple said both lenders and borrowers would need to complete identity verification before participating, with access controlled through permissioned credentials rather than open participation.

The company also proposed assigning first-loss capital at the lending facility level instead of distributing losses equally across all participants. According to Ripple, this structure is intended to create a clearer framework for allocating credit risk.

The lending framework has not yet become part of the XRP Ledger. Ripple said the technical specifications, published as XLS-65 and XLS-66, still require approval from XRPL validators before they can be activated on the main network. Until then, developers and infrastructure providers can begin testing the proposed system on the XRPL devnet.

The proposal arrives days after Ripple drew attention through another institutional finance connection. As previously reported by crypto.news, Elon Musk’s X has begun rolling out X Money to a limited group of Premium+ users using traditional banking infrastructure provided by Cross River Bank, a Ripple banking partner.

Although some members of the XRP community speculated that the relationship could eventually support blockchain-based payments or stablecoin services, neither X nor Cross River Bank has announced plans to integrate XRP or other cryptocurrencies into the payment platform.

For now, X Money operates entirely through conventional banking rails despite Musk previously suggesting crypto features could be added to the platform’s financial services in the future.

Recent discussions within the XRP community have centered on whether Ripple’s new dollar-pegged digital asset, RLUSD, might push XRP into the background. Some argued that with a stable dollar-based option taking the spotlight in enterprise and internal payments, the need for the more volatile XRP could decline.

On chain data reveals a different storyAnalysts at Evernorth examined this concern and, drawing on data from Dune Analytics, concluded that RLUSD has not replaced XRP. Instead, they found it acts as a complementary force supporting XRP’s position within the XRPL ecosystem. Evernorth describes itself as the largest independent XRP treasury.

Rather than RLUSD and XRP excluding each other within the same sphere, we observe a clear division of labor: RLUSD offers stable, dollar-based settlement, while XRP continues to serve as a bridge for transfers between various assets.

In April, only 17 percent of RLUSD’s volume was found on XRPL, while the majority operated on Ethereum. Latest figures, however, reveal a dramatic shift: that share now sits at 52 percent, indicating a strong migration of transaction flow toward XRPL over recent months.

Additionally, RLUSD’s share of transactions within XRPL has grown notably. In just under a year and a half, its volume rose from under 1 percent to 12 percent. According to analysts, this trend does not reflect a loss of interest in XRP. Instead, it suggests that investors and users are increasingly conducting dollar-based transactions actively around XRP within the XRPL environment.

Task sharing replaces rivalry between RLUSD and XRPAnalysts likened this structure to traditional currency markets. In global finance, the US dollar often serves as the common link for transactions across currencies. A similar setup, they suggest, is developing in Ripple’s ecosystem, where RLUSD acts as a stable benchmark and XRP facilitates rapid switching between assets.

Direct trades between RLUSD and XRP have totaled $900 million over the past six months. This robust growth marks the emergence of a deep dollar market on XRPL that did not exist before. Data also shows that RLUSD gives businesses a buffer against exchange rate volatility through a clear dollar value, while XRP remains integral when parties to a transaction need a bridge across different assets.

Network fees directly impact XRP supplyThe technical dynamics of this relationship are also significant for XRP. Every transfer, transaction, or RLUSD/XRP order move on XRPL requires a network fee, and this fee is permanently burned, meaning the XRP is taken out of circulation.

Analysts point out a straightforward correlation: as digital dollar usage expands and RLUSD-linked transactions multiply, there is higher movement in the XRP pair, leading to more XRP being burned. This mechanism means RLUSD does not displace XRP but instead generates new liquidity atop it, reinforcing XRP’s native role in the network.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.