TLDRXRP Ledger Community Flags Fake JPYSC ClaimsJPYSC Remains Limited to SBI VC TradeGet 3 Free Stock Ebooks XRP Ledger validators warned users about fake JPYSC tokens using the stablecoin’s ticker. SBI launched JPYSC on June 24 through SBI VC Trade for account holders only. SBI has not confirmed any JPYSC issuance on the XRP Ledger or other public chains. JPYSC currently cannot move to external wallets or public blockchain networks. SBI said public-chain circulation is ready but still awaits tax and regulatory approval. XRP Ledger (XRPL) validators warned users against fake JPYSC tokens after SBI launched its yen stablecoin. The alert followed claims about a possible XRPL issue. SBI has not confirmed any release.
XRP Ledger Community Flags Fake JPYSC Claims XRPL validator Vet, Hussein Zangana, said SBI has made no public JPYSC issue on XRPL. Therefore, any current JPYSC ticker remains suspicious.
The warning followed the June 24 launch of JPYSC by SBI Holdings through SBI VC Trade. The launch drew attention because SBI has links with Ripple.
Another XRP community member said monitoring tools now track trustlines linked to known SBI addresses. Those systems could help detect official activity later.
Community checks focus on issuer addresses, trustlines, and token metadata on the XRP Ledger. However, validators said users need SBI confirmation before treating any asset as valid.
The alerts target scam tokens that may copy the JPYSC name or ticker. Such tokens can appear quickly on public ledgers because anyone can create assets.
Vet said JPYSC has received no public XRPL announcement from SBI. As a result, he urged users to verify sources before any interaction.
JPYSC Remains Limited to SBI VC Trade SBI launched JPYSC as a yen stablecoin for SBI VC Trade account holders. SBI Shinsei Trust Bank issues the token, while SBI VC Trade distributes it.
The stablecoin came from a joint effort between SBI and Startale Group. It operates as a trust-type electronic payment instrument under Japan’s framework.
SBI said this structure removes the ¥1 million transaction cap applied to some payment products. The company presented JPYSC as a regulated yen stablecoin.
For now, SBI keeps JPYSC inside SBI VC Trade accounts. Users cannot withdraw the token to external wallets or blockchains.
SBI said it has completed technical and operational work for public blockchain circulation. Yet the company still awaits regulatory and tax treatment before transfers.
The company has not named any public chain for JPYSC deployment. Therefore, XRP Ledger links remain unconfirmed despite community speculation.
SBI Chairman and CEO Yoshitaka Kitao called blockchain migration in finance “irreversible.” He described JPYSC as part of Japan’s blockchain finance infrastructure.
Startale founder Sota Watanabe said external wallet transfers are technically ready. He said remaining issues relate mainly to regulation and tax rules.
No SBI statement has connected JPYSC to the XRP Ledger. Community members continue tracking issuer activity while warning users against fake tokens.
XRP is trading just above $1, leaving the token at its weakest price level of the year, but onchain data paints a different picture.
The exchange-held XRP supply continues to fall, Binance withdrawals have exceeded deposits for seven straight days, whale flows are holding positive and spot XRP exchange-traded funds (ETFs) have attracted $243 million in inflows since April.
The improving onchain data points to healthy network positioning, even as XRP continues to search for a price bottom.
XRP supply on exchanges continues to shrinkCrypto analyst Amr Taha noted that Binance's XRP reserve has fallen to its lowest level since March after roughly 100 million XRP left the exchange over the past month. Binance's balance stood at about 2.68 billion XRP on June 25, down from 2.78 billion XRP on May 12, accounting for the largest outflow among major trading platforms.
Other exchanges also posted smaller declines. Upbit's reserve fell to 2.48 billion XRP on June 25 from 2.51 billion XRP on May 31, while Bybit's holdings declined to 82 million XRP from 92 million XRP on June 2. Binance led in absolute outflows, while Bybit recorded the steepest percentage decline.
Taha also highlighted a significant shift in Binance transaction activity. XRP withdrawal transactions have exceeded deposits for seven consecutive days since June 17. The seven-day withdrawal share climbed to 53.8% on June 23, its highest reading since June 2024, while deposits fell to 46.1%, the weakest level since 2024.
XRP daily deposit/withdrawal transactions (%) on Binance. Source: CryptoQuant
The metric tracks transaction count rather than XRP volume. This indicates users are moving coins off Binance more frequently than sending them to the exchange, marking the longest withdrawal-led stretch in roughly a year.
Large XRP holders supported the trend. XRP whale flow on the 90-day moving average has stayed positive throughout the quarter at 5.143 million XRP per day, showing consistent net accumulation by large wallets instead of distribution.
XRP whale flows. Source: CryptoQuant
Institutional demand has also added support. Spot XRP ETFs recorded $2 million in net inflows on June 24, lifting June's total netflows to $31 million. Since April, the total cumulative inflows have reached $243 million.
XRP price approaches a major demand zoneFrom a technical standpoint, the higher-time-frame market structure remains bearish for the altcoin. XRP touched $1.01 on Thursday, its lowest price of 2026, leaving the token close to its first move below $1 since November 2024. The decline has pushed XRP down 43% year-to-date.
The next key area for XRP sits within the fair value gap between $1 and $0.63, an unfilled price gap created during the sharp rally in late 2024 that could attract buying interest if the decline extends in the coming weeks.
Black Swan Capitalist founder Versan Aljarrah continues to focus on the longer-term chart. The analyst said XRP has spent years building a large accumulation range with higher lows on both weekly and monthly timeframes.
XRP/USD, one-month chart analysis by Versan Aljarrah. Source: X
Aljarrah argued that extended consolidations often produce stronger breakout moves once the price eventually breaks out of the range, with the analyst targeting $10, i.e., a 900% increase from the current price.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
XRP is trading just above $1, leaving the token at its weakest price level of the year, but onchain data paints a different picture.
The exchange-held XRP supply continues to fall, Binance withdrawals have exceeded deposits for seven straight days, whale flows are holding positive and spot XRP exchange-traded funds (ETFs) have attracted $243 million in inflows since April.
The improving onchain data points to healthy network positioning, even as XRP continues to search for a price bottom.
XRP supply on exchanges continues to shrinkCrypto analyst Amr Taha noted that Binance's XRP reserve has fallen to its lowest level since March after roughly 100 million XRP left the exchange over the past month. Binance's balance stood at about 2.68 billion XRP on June 25, down from 2.78 billion XRP on May 12, accounting for the largest outflow among major trading platforms.
Other exchanges also posted smaller declines. Upbit's reserve fell to 2.48 billion XRP on June 25 from 2.51 billion XRP on May 31, while Bybit's holdings declined to 82 million XRP from 92 million XRP on June 2. Binance led in absolute outflows, while Bybit recorded the steepest percentage decline.
Taha also highlighted a significant shift in Binance transaction activity. XRP withdrawal transactions have exceeded deposits for seven consecutive days since June 17. The seven-day withdrawal share climbed to 53.8% on June 23, its highest reading since June 2024, while deposits fell to 46.1%, the weakest level since 2024.
XRP daily deposit/withdrawal transactions (%) on Binance. Source: CryptoQuant
The metric tracks transaction count rather than XRP volume. This indicates users are moving coins off Binance more frequently than sending them to the exchange, marking the longest withdrawal-led stretch in roughly a year.
Large XRP holders supported the trend. XRP whale flow on the 90-day moving average has stayed positive throughout the quarter at 5.143 million XRP per day, showing consistent net accumulation by large wallets instead of distribution.
XRP whale flows. Source: CryptoQuant
Institutional demand has also added support. Spot XRP ETFs recorded $2 million in net inflows on June 24, lifting June's total netflows to $31 million. Since April, the total cumulative inflows have reached $243 million.
XRP price approaches a major demand zoneFrom a technical standpoint, the higher-time-frame market structure remains bearish for the altcoin. XRP touched $1.01 on Thursday, its lowest price of 2026, leaving the token close to its first move below $1 since November 2024. The decline has pushed XRP down 43% year-to-date.
The next key area for XRP sits within the fair value gap between $1 and $0.63, an unfilled price gap created during the sharp rally in late 2024 that could attract buying interest if the decline extends in the coming weeks.
Black Swan Capitalist founder Versan Aljarrah continues to focus on the longer-term chart. The analyst said XRP has spent years building a large accumulation range with higher lows on both weekly and monthly timeframes.
XRP/USD, one-month chart analysis by Versan Aljarrah. Source: X
Aljarrah argued that extended consolidations often produce stronger breakout moves once the price eventually breaks out of the range, with the analyst targeting $10, i.e., a 900% increase from the current price.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
XRP (CRYPTO: XRP) is approaching the psychologically important $1 support as pro-XRP lawyer Bill Morgan argues Ripple is releasing tokens from escrow too slowly.
Why Morgan Wants Ripple To Speed Up Escrow ReleasesRipple locked 55 billion XRP into escrow back in 2017 to give the market predictable visibility into future supply.
One billion XRP unlocks on the first of every month, and Ripple decides how much to deploy versus re-lock into new escrow contracts at the back of the queue.
After the June 1 unlock, roughly 61.85 billion XRP sits in circulation against 38.15 billion still locked, a pace some estimates suggest could take nearly nine years to fully distribute.
“Ripple should release more of the 1 billion each month and not lock so much back in escrow,” Morgan wrote on X.
“The sooner it is all released from escrow and the circulating supply is 100%, the quicker XRP will become the best hard money.”
His argument centers on supply transparency, not burning tokens, which Ripple has explicitly rejected. He believes a fully circulating supply removes the pricing uncertainty that scheduled future releases create.
Ripple’s own position has historically favored the opposite approach, framing escrow predictability as a feature that institutional partners specifically value since it lets counterparties model future supply without surprises.
XRP Failed The Same Support Zone TwiceXRP on Thursday wicked below $1.01 before bouncing slightly, breaking decisively through the demand zone between $1.08 and $1.11 that had capped both the June 5 lows and a mid-June test.
Failing that zone for a second time marks a serious structural breakdown rather than a routine dip.
Price is trading well outside the lower Bollinger Band at $1.0487, confirming an extreme, stretched move, while the SAR remains deep overhead at $1.2790.
The descending trendline from May’s $1.55 peak continues to reject every recovery attempt.
XRP sits down 52.64% over the past 12 months, with the November 2025 death cross still fully intact across the 20-day, 50-day, and 200-day moving averages.
Reclaiming the $1.08 to $1.11 zone restarts a recovery attempt toward $1.1398. Losing the $1.00 psychological level opens air toward $0.90, then $0.80.
Image: Shutterstock
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Japanese financial giant SBI Group has announced a significant expansion in its digital asset operations, revealing plans to acquire Bitbank, the country’s third-largest cryptocurrency exchange, for approximately $289 million. The transaction will unfold in multiple stages, culminating with Bitbank merging into SBI’s key crypto platform, SBI VC Trade.
Acquisition to proceed in phasesAccording to the plan released by SBI, an affiliate under the umbrella of SBI Holdings will first buy back Bitbank shares from individual stakeholders, including the exchange’s founder. Following this, Bitbank is set to acquire shares from institutional partners MIXI and Ceres by the end of October.
Bitbank has established itself as one of the leading crypto exchanges in Japan’s digital asset landscape. Meanwhile, SBI Group acts as a major financial institution in the country, with a broad portfolio spanning banking, securities, insurance, and digital assets.
Industry leadership targeted post-mergerOnce the acquisition and merger are completed, SBI Group intends to combine Bitbank with SBI VC Trade. This integration is expected to bring the combined number of customer accounts to over 2.9 million, with total assets under custody projected to reach approximately 1.1 trillion yen.
After the merger between Bitbank and SBI VC Trade, the customer base is anticipated to surpass 2.9 million and assets under management are forecast to climb to nearly 1.1 trillion yen.
If achieved, these figures would make the new entity the largest player in Japan’s crypto market. For context, bitFlyer currently oversees assets worth around 960 billion yen, while Coincheck manages about 800 billion yen. Reports also indicate that other major players like Binance Japan and Rakuten Wallet may fall behind at this scale, despite their robust institutional networks.
Key links to XRP and RLUSDThe deal is drawing particular attention within the XRP community. SBI is known to hold one of the largest XRP reserves outside the United States, making this acquisition and subsequent merger noteworthy in the context of its longstanding ties with Ripple.
Previously, Ripple and SBI Group jointly announced the official launch of RLUSD, a stablecoin subject to stringent regulatory standards. This milestone followed authorization by Japan’s Financial Services Agency. RLUSD is designed for both institutional and retail users, serving as a bridge for payments, tokenization, and collateral management.
Mini glossary: RLUSD is a stablecoin developed by Ripple that aims to preserve a one-to-one value with fiat currency. Tokenization refers to the process of converting real-world assets or financial rights into digital representations on a blockchain.
The collaboration between Ripple and SBI Group dates back to 2016. As such, this latest integration and acquisition move is seen as the continuation of a long-standing partnership between the two companies.
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.
As selling pressure continues across the cryptocurrency market, XRP is struggling to stabilize just above the critical 1 dollar threshold—a level closely monitored by investors. In an environment where the total global market cap has slipped below 2 trillion dollars due to a widespread downturn, XRP has fallen roughly 4 percent over the past 24 hours, currently trading near 1.03 dollars.
Key support emerges on the monthly chartA look at longer timeframes tells a different story than the short-term focus on 1 dollar. According to TradingView data, the Bollinger Bands now suggest the main support zone for XRP has shifted down to 0.91 dollars. This scenario indicates the psychological power around the 1 dollar mark has weakened, putting more emphasis on the technical levels that have formed over the monthly chart.
Mini glossary: Bollinger Bands are a technical indicator used to trace price volatility and identify potential support and resistance areas. The lower band often acts as the boundary prices may touch during sharp selloffs.
XRP—featured in this news—is the digital asset used for cross-border payments within the Ripple ecosystem. The key takeaway from the analysis is that technical boundaries on monthly timeframes may ultimately prove more influential than short-term psychological levels.
The true battleground for XRP appears to be not at 1 dollar, but at the 0.91 dollar level highlighted by the Bollinger Bands on the monthly chart.
Liquidations amplify downward pressureOne of the main forces behind the sharp market movement has been a major wave of liquidations in the derivatives segment. According to CoinGlass data, a total of 1.48 billion dollars’ worth of positions were wiped out during the last daily move. This liquidation wave hit 217,000 traders, with 1.21 billion dollars of those positions coming from the long side.
XRP investors were hit particularly hard. Of the total 39 million dollars in XRP liquidations, a staggering 38.8 million came from bullish positions—making evident just how much buying power weakened during the latest selloff.
IndicatorDataXRP price1.03 dollars24 hour change4 percent dropMonthly chart support0.91 dollarsTotal daily liquidations1.48 billion dollarsXRP liquidations39 million dollarsAnother clear sign of selling pressure came from the actions of a large investor operating with the 0xf79C wallet on Hyperliquid. This trader was forced to close long positions worth 47.7 million dollars in BTC and 28.5 million dollars in XRP, suffering overall losses totaling 8.42 million dollars.
CoinGlass data reveals that nearly all of the 39 million dollars liquidated in XRP came from long positions, highlighting the sharp loss of confidence among buyers.
A move below 1 dollar is on the tableAccording to the analysis, once XRP dropped beneath the mid-range level of 2.05 dollars—previously seen as a key median—the price has geared towards the lower band set at 0.91 dollars, a historically significant volatility boundary. In this context, the current price levels may represent only a temporary support rather than a lasting floor.
If selling continues, falling below the 1 dollar level should not come as a technical surprise. Analysts say such a move would reflect a correction down to the real support area highlighted on the monthly chart, potentially resetting market dynamics for XRP going forward.
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 has appeared on the doorsteps of American lawmakers as part of its effort to push the passage of the Clarity Act.
San Francisco-headquartered company, which is known for its association with the XRP cryptocurrency, has launched a mobile campaign in the capital with a branded "Clarity truck" to lobby Congress (as shown in the X post below).
On the road to clarity - literally!
Ripple's Clarity truck is out in D.C. as Congress works on the Clarity Act, which creates clear rules for digital assets and crypto.
Clear rules help protect consumers, support responsible innovation, and keep the U.S. competitive pic.twitter.com/FGdTHVguPl
— Lauren Belive (@BeliveLauren) June 25, 2026 The timing is crucial, given that legislators keep mulling over the major regulatory framework for cryptocurrency.
Lauren Belive, the head of the U.S. Public Policy at Ripple, has quipped that the company is "on the road to clarity—literally!" The exec has stressed that clear crypto rules will be beneficial for consumers and American competitiveness.
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The massive Senate hurdle The passage of the Clarity Act, which aspires to resolve years of regulatory uncertainty, appears to be less likely with each passing day. As of today, Polymarket bettors see only a 43% chance of the bill being signed into law this year.
The Clarity Act cleared the House with strong bipartisan support back in July, but it has struggled to pass the upper chamber.
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Negotiations stalled over unresolved ethics and conflict-of-interest provisions. Senate Democrats were reportedly left frustrated by the lack of cooperation.
Moreover, there are disagreements over DeFi platforms as well as stablecoin yield and rewards (the most contentious issue).
So far, no Senate floor vote has been scheduled. The Republicans have to secure at least seven Democratic votes to overcome a filibuster.
The Senate is scheduled to head to its July 4 recess on June 27.
Analysts view early to mid-August as the practical deadline for the bill to pass the Senate.
Ripple previously supported the imperfect legislative effort despite some opposition from the broader industry, stating that clarity is better than chaos.
According to the latest market outlook shared by analyst Diana, the key driver for a potential rise in XRP toward the $50 mark is not regulatory developments, but rather whether demand will consistently surpass supply. Diana notes that the longstanding theme of legal uncertainty in the market has lost much of its influence, and that from now on, it is critical to see if new buyers can absorb the amount of XRP entering circulation.
Regulatory concerns take a back seatFor a long time, regulatory uncertainty was seen as the main obstacle facing XRP. The general expectation in the market was that greater legal clarity would boost institutional adoption and deliver a powerful upward effect on the price. However, Diana argues that this period is largely over, and that the primary challenge ahead now relates to how quickly the supply entering the market—driven by investor selling, releases from escrow, and profit-taking—can be matched or exceeded by new demand.
XRP’s future centers on a single question: Can new market demand permanently match or exceed existing supply?
In Diana’s model, the growth process unfolds in three phases: Permission, Propulsion, and Premium. The first phase, Permission, focuses on institutional access. Key elements here include regulatory recognition, custody infrastructure, banking integration, compliance frameworks, and exchange-traded products.
According to Diana, XRP has already cleared several vital hurdles on this front. The analysis highlights recognition as a commodity by the CFTC, assets under management in spot XRP ETFs surpassing $1 billion, and preliminary greenlights from the OCC as notable milestones. Still, outstanding issues remain, including the lack of clarity on the CLARITY Act and the Federal Reserve master account.
Demand and utility take center stage for price trajectoryThe second phase, Propulsion, hinges on direct capital inflows. Growth in ETFs, institutional accumulation, and capital rotation from other assets like Bitcoin play decisive roles in this stage. Diana suggests that, if a substantial portion of the circulating supply is withdrawn from the market and persistent demand on this scale emerges, it could support an XRP price range of $5 to $10.
According to the framework, the next major price cycle in XRP will hinge more on ongoing demand consistently exceeding supply than on regulatory milestones.
Beyond investment-driven inflows, utility-driven demand is expected to come to the fore. Factors such as wider RLUSD adoption, increased activity on the XRP Ledger, corporate balance sheet demand, and rising transaction volumes could create the economic foundation for XRP to fluctuate in the $10 to $15 range.
Glossary: The XRP Ledger refers to the distributed ledger infrastructure underlying XRP’s operations. RLUSD is Ripple’s US dollar-pegged stablecoin initiative and is mentioned as one of the elements driving utility-driven demand in this report.
The most ambitious scenario: a jump to $15–$50The final phase, Premium, presents the most ambitious outlook. In this scenario, for XRP to reach the $15 to $50 range, it would need to acquire a monetary premium similar to gold or Bitcoin, be recognized as a strategic reserve asset, firmly establish itself as a global liquidity solution, and become an integral component of international financial infrastructure.
According to CoinCodex data, XRP was trading at $1.07 when the report was released. Diana’s framework underscores that the future trajectory largely hinges on a single economic equilibrium: if market demand consistently and substantially exceeds the available supply, moving from the Permission to the Propulsion phase could mark the beginning of a new growth cycle for XRP.
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.
XRP briefly touched $1.00 on Thursday before bouncing back, and the crypto community is as divided as it has ever been. One camp says this is the beginning of the end. The other says a historic repricing event is just weeks away. The truth, as it often is in crypto, sits somewhere in the middle and the CLARITY Act may be the moment that starts to clarify which side is closer to right.
The Repricing Argument
Grayscale’s head of research recently outlined a scenario that has been circulating widely among XRP investors. If the CLARITY Act passes and regulatory certainty arrives for digital assets, Grayscale sees a genuine case for XRP to be repriced across the market.
“I think we would see a repricing across a range of assets, certainly including XRP,” the Grayscale executive said, pointing to strong demand for Grayscale’s own XRP product as evidence that institutional interest has not disappeared despite the price weakness.
He added that clarifying questions around XRP’s long-term token supply outlook could unlock additional value, and that reducing future token inflation would have a meaningfully positive effect on price.
The CLARITY Act passed the Senate Banking Committee in May with a bipartisan 15 to 9 vote and is now on the Senate Legislative Calendar awaiting a full floor vote. The White House has been pushing hard for passage before the August recess, which leaves a narrow window of legislative days remaining.
Where XRP Actually Stands
XRP has fallen from $1.70 to $1.00 over recent weeks, a correction that fits the historical pattern of bear market lows in previous cycles. The token has dropped approximately 70% from its all-time high of $3.65, consistent with the 75% drawdowns seen in the 2018 and 2022 bear markets before major recoveries followed.
The current price action reflects a broader market under extreme stress. The Fear and Greed Index sits at 16. Bitcoin is testing multi-month lows below $60,000. Total crypto market cap is approaching the $2 trillion level that many view as critical support. In this environment, XRP holding $1.00 as a psychological floor matters more than it might in calmer conditions.
The Cycle Argument
Veteran crypto analysts who called the October 2025 market top based on four-year cycle timing are now pointing to the same framework to argue that a bottom is forming. Every bull market in Bitcoin’s history has been followed by a 50% to 77% drawdown before the next cycle began. The current drawdown at approximately 51% from the Bitcoin peak sits well within the historical range for a cycle low.
The pattern that preceded previous XRP recoveries is also forming. The 90% of retail investors who bought near the top and are now sitting on losses represent the capitulation phase that historically marks the most attractive entry points. The 10% who accumulate during maximum fear are the ones positioned to benefit when the cycle turns.
What the CLARITY Act Could Mean
The CLARITY Act would establish clear legal boundaries between the SEC and CFTC over digital asset jurisdiction for the first time in American history. For XRP specifically, which spent four years fighting the SEC before winning a landmark ruling that it is not a security, regulatory clarity at the legislative level removes the last remaining legal overhang and opens the door to institutional capital that has been sitting on the sidelines waiting for exactly this kind of certainty.
Whether that translates into an immediate repricing depends entirely on whether Congress delivers before the August recess. The window is narrow. The stakes for XRP and the broader crypto market are significant.
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The XRP Ledger ($XRPL) has flipped Ethereum as the primary host for $RLUSD supply for the first time since the stablecoin launched. On-chain data cited by @BSCNews shows $801M in $RLUSD sitting on the XRP Ledger, compared to $795M on Ethereum, marking a narrow but historically significant shift in how Ripple's flagship regulated stablecoin is distributed across networks.
A Long Road to the Top The turnaround has been dramatic. By October 2025, approximately 88% of all RLUSD supply sat on Ethereum, with just $91 million on the XRP Ledger. The gap closed steadily from there. Q1 2026 was the first quarter in which RLUSD grew by more on the XRPL (plus $105.4 million) than on Ethereum (plus $15.2 million), signalling that the momentum had genuinely shifted. By June 2026, XRPL stablecoin supply reached $762M, largely driven by RLUSD, before the latest on-chain figures pushed it past the Ethereum figure for the first time.
The initial Ethereum dominance was driven largely by that network's deeper DeFi ecosystem. Ripple added RLUSD to Aave in 2025, helping boost adoption among Ethereum users, while platforms such as Curve and Morpho also supported RLUSD, giving the stablecoin more visibility and utility. Those integrations kept a large portion of supply anchored on Ethereum for most of the stablecoin's early life.
What Is Driving XRPL's Gain RLUSD's strategic advantage on the XRPL is its integration across Ripple's financial products, which provide immediate access for regulated institutional enterprise use in payments, treasury management, prime brokerage, and custody. This allows RLUSD supply to grow from real institutional demand rather than just exchange liquidity. The majority of RLUSD holders are also on the XRPL, with 46,209 on the network compared to 7,821 on Ethereum at Q1 2026 close.
The broader XRPL ecosystem has also been expanding rapidly. The XRPL closed Q1 2026 with an all-time high real-world asset (RWA) market cap of $2.25 billion, up 124% quarter-over-quarter, making it the seventh largest network by RWA market cap. A key institutional proof point came in May 2026 with a tokenized US Treasury redemption pilot involving Ondo Finance, JPMorgan Kinexys, Mastercard, and Ripple, completing a cross-border transaction in 4.2 seconds.
RLUSD is natively issued on both the XRP Ledger and Ethereum blockchains and is fully backed by a segregated reserve of cash and cash equivalents, redeemable 1:1 for US dollars. The stablecoin is regulated under a New York Department of Financial Services trust charter, a compliance posture that has helped attract institutional counterparties to both chains. Whether XRPL can hold and extend this lead over Ethereum's entrenched DeFi liquidity base remains to be seen, but the milestone itself marks a meaningful shift in how Ripple's native infrastructure is being used.
Sources:
Messari: State of XRP Q1 2026
Ripple: RLUSD Stablecoin Official Page
Yahoo Finance: XRPL Ripple Stablecoin Supply Surges to $762M
Many altcoins have collapsed by up to 5% in the past hour alone.
It’s another painful day in the cryptocurrency markets, especially for the altcoins. Ethereum, which traded at roughly $1,800 just over a week ago, tumbled toward $1,500, but it’s yet to break its negative June record, at least for now.
In contrast, Ripple’s XRP has been at the forefront of the latest declines. The token plunged to just over $1.00 minutes ago, which became its lowest price tag since late 2024.
Analysts, even those who have been predominantly bullish on XRP’s future price trajectory, have warned that the asset could unravel if it decisively loses the psychologically important $1.00 level.
CasiTrades, for example, warned that the token could drop to a low of $0.87 before it rebounds. Ali Martinez was even more bearish, outlining targets of below $0.70 and all the way down to $0.15 in a very extreme scenario.
Many other altcoins have posted similar losses in the past hour alone. SOL is down by over 3.5%, ZEC has plunged by 4%, while ADA is close to breaking below $0.14 after a 3.7% drop.
Naturally, the liquidations have skyrocketed given this enhanced volatility, especially since BTC broke below $59,000 and plummeted to $58,000.
Expectedly, BTC is responsible for the lion’s share. Over $320 million worth of longs have been wiped out in the past hour alone. ETH follows suit with nearly $140 million, while XRP is third with just over $40 million – all from longs.
You may also like: Déjà Vu: Bitcoin Tumbles Below $59K as Strategy’s MSTR Crumbles Again Prediction: Bitcoin Could Bottom Between $42K and $44K This Year Brutal Bitcoin Liquidation Cascade Imminent Below $59K, Warns Analyst In total, the liquidations are up to $630 million in the past hour, and $600 million is from longs. The total value for the past day is $1.5 billion, with $1.22 billion from longs.
The cryptocurrency market was shaken by another wave of decline last night. Bitcoin (BTC) fell below $60,000, while Ethereum and major altcoins also saw significant pullbacks.
No single trigger has been identified for the sell-off. Reasons cited include the Fed’s hawkish stance, six consecutive weeks of outflows from spot ETFs, decreased liquidity during the summer months, and the expiration of quarter-end options on June 30th.
Due to the recent declines, the negative sentiment and outflows in US spot ETFs continue. At this point, outflows from ETFs have reached record levels.
According to a report by the US financial platform Kobeissi Letter, there has been a net outflow of $6.4 billion from US spot Bitcoin ETFs in the last 30 days. This figure represents the largest monthly net outflow recorded to date.
With these outflows, cumulative inflows into spot BTC ETFs over the past 12 months have also fallen to $5 billion. The current figure is about half of the $10 billion recorded in October last year.
According to Farside Investors data, US spot Bitcoin ETFs saw net outflows for the fifth consecutive day. On Wednesday, ETFs experienced net outflows of $469 million.
BlackRock’s IBIT fund led the way in Bitcoin ETF outflows with $239.3 million, followed by Fidelity’s FBTC fund with $120.8 million.
Bitwise’s BITB fund saw outflows of $27.5 million, Ark Invest’s ARKB fund outflows of $50.7 million, and Grayscale’s GBTC fund outflows of $54.3 million, while Grayscale’s Mini BTC fund was the only fund to experience an inflow of $23.6 million.
In contrast, Morgan Stanley’s MSBT; Wisdom Tree’s BTCW; VanEck’s HODL; Invesco’s BTCO; Franklin Templeton’s EZBC; and Valkyre’s BRRR fund recorded 0 flow.
Outflows Continue in Ethereum ETFs! Ethereum ETFs also experienced outflows. According to Farside Investors data, spot Ethereum ETFs saw net inflows for the fifth consecutive day, resulting in a total net outflow of $30.2 million.
According to the data, outflows were observed in three funds. Fidelity’s FETH fund topped the list with an outflow of $15.7 million. It was followed by BlackRock’s ETHA fund with $8.1 million and Grayscale’s Mini Ethereum (ETH) fund with $6.5 million.
In contrast, BlackRock’s ETHB; Bitwise’s ETHW; 21Shares’ TETH; VanEck’s ETHV; Invesco’s QETH; and Franklin Templeton’s EZET funds all recorded 0 flows.
What’s the Situation with Solana and XRP ETFs? While Bitcoin and Ethereum ETFs are experiencing outflows, the situation is mixed in altcoin ETFs.
Accordingly, XRP spot ETFs saw inflows of $2.05 million, while Solana spot ETFs recorded zero inflows yesterday.
*This is not investment advice.
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While Bitcoin set numerous records on its journey to an all-time high of $126,000 in 2025, many altcoins remained below their previous peaks.
While many altcoin investors were expecting a major altcoin season like those seen in previous cycles, the rallies did not live up to that expectation.
At this point, expectations for the altcoin season are being reshaped, and this year’s altcoin market may be more selective rather than exhibiting the widespread rallies seen in past cycles.
According to the renowned American magazine Forbes, the largest altcoins by market capitalization—Ethereum, BNB, XRP, Solana, and Tron—are trading, on average, approximately 60% below their all-time highs.
Although the number of cryptocurrency investors worldwide has exceeded 740 million, the altcoin market has not yet fully recovered.
In this context, Forbes’ analysis argues that the new bull run will be led by projects with real-world use cases and profitability. Accordingly, among altcoins, projects with real revenue, an established user base, and clear use cases are attracting, and will continue to attract, relatively more interest.
At this point, Forbes analysts cited Hyperliquid (HYPE) and SOL as examples of these altcoins.
Speaking to Forbes, Jason Lindal, CEO of tokenization company Nebula DeFi, argued that money in the market will first flow into Bitcoin, then into altcoins with large market capitalization like Ethereum and Solana, and finally selectively into altcoins considered to be higher risk.
Speaking to Forbes, Stansberry Research analyst Eric Wade stated that the altcoin season is happening and will continue. However, he said the biggest mistake is treating altcoins as a single asset class.
Avalanche Treasury CEO Bart Smith also took a similar approach, stating that altcoins will not experience a traditional season and that the key questions in altcoin rallies are “What is its purpose and what problem does it solve?”. According to Smith, altcoins that cannot answer these questions will continue to struggle regardless of the macroeconomic environment.
Finally, Bitget CEO Gracy Chen also stated that it might be difficult for a traditional altcoin season to occur in this cycle, as in previous cycles.
*This is not investment advice.
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While Bitcoin set numerous records on its journey to an all-time high of $126,000 in 2025, many altcoins remained below their previous peaks.
While many altcoin investors were expecting a major altcoin season like those seen in previous cycles, the rallies did not live up to that expectation.
At this point, expectations for the altcoin season are being reshaped, and this year’s altcoin market may be more selective rather than exhibiting the widespread rallies seen in past cycles.
According to the renowned American magazine Forbes, the largest altcoins by market capitalization—Ethereum, BNB, XRP, Solana, and Tron—are trading, on average, approximately 60% below their all-time highs.
Although the number of cryptocurrency investors worldwide has exceeded 740 million, the altcoin market has not yet fully recovered.
In this context, Forbes’ analysis argues that the new bull run will be led by projects with real-world use cases and profitability. Accordingly, among altcoins, projects with real revenue, an established user base, and clear use cases are attracting, and will continue to attract, relatively more interest.
At this point, Forbes analysts cited Hyperliquid (HYPE) and SOL as examples of these altcoins.
Speaking to Forbes, Jason Lindal, CEO of tokenization company Nebula DeFi, argued that money in the market will first flow into Bitcoin, then into altcoins with large market capitalization like Ethereum and Solana, and finally selectively into altcoins considered to be higher risk.
Speaking to Forbes, Stansberry Research analyst Eric Wade stated that the altcoin season is happening and will continue. However, he said the biggest mistake is treating altcoins as a single asset class.
Avalanche Treasury CEO Bart Smith also took a similar approach, stating that altcoins will not experience a traditional season and that the key questions in altcoin rallies are “What is its purpose and what problem does it solve?”. According to Smith, altcoins that cannot answer these questions will continue to struggle regardless of the macroeconomic environment.
Finally, Bitget CEO Gracy Chen also stated that it might be difficult for a traditional altcoin season to occur in this cycle, as in previous cycles.
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Welcome to today's Daily Alpha Drop. Our research team has isolated three major high-conviction narratives driving massive market volume today. From infrastructure scaling milestones to landmark regulatory expansions and large-scale private accumulation, these assets showcase immense resilience against choppy macro conditions.
Asset 1: Bittensor ($TAO): Native Interoperability Meets Next-Gen Tech ContendersBittensor ($TAO) continues to build out deep utility layers, shifting from a standalone network to an interconnected decentralized infrastructure titan.
The Momentum Catalyst: THORChain has officially announced a native $TAO integration. This milestone enables completely trustless, decentralized cross-chain swaps without relying on risky wrapped tokens or centralized bridge custodians. Due to this foundation upgrade, top analysts are grouping TAO closely with Render ($RNDR) and Ondo ($ONDO) as premium contenders positioned to lead the next major expansionary phase of the market.The Performance Metrics: TAO is currently trading at $219.24. It holds a robust market capitalization of $2.1B, supported by an active 24-hour liquidity turnover of $176M.Asset 2: Ripple ($XRP): Milestone MiCA Clearances & Flawless ETF InflowsRipple ($XRP) is cementing unprecedented institutional dominance through compliance, separating itself entirely from less regulated competitors ahead of upcoming structural deadlines.
The Momentum Catalyst: Ripple has secured a preliminary Crypto Asset Service Provider (CASP) license under Europe's strict MiCA framework. This green light effectively unlocks fully regulated crypto services for banks, fintech networks, and corporate users across all 30 EEA countries. Simultaneously, the spot XRP ETF market is exhibiting historic demand; products have logged zero net outflow days since March 6, pushing total cumulative net inflows past a staggering $1.45B.The Performance Metrics: XRP is firmly trading at $1.07. It commands a massive market capitalization of $66B with a high-velocity 24-hour trading volume of $2.12B.Asset 3: Hyperliquid ($HYPE): Whale Accumulation Flashes Massive Long-Term SignalsHyperliquid ($HYPE) is asserting itself as an absolute volume black hole, demonstrating incredible relative strength as traders prioritize deep, decentralized on-chain liquidity engines.
The Momentum Catalyst: Large-scale market participants are aggressively staking their long-term claims. On-chain data revealed a prominent whale withdrawing 278K HYPE tokens (worth roughly $17.45M) into a private custody wallet, flashing a strong long-term conviction and supply-sink signal. Even within a broader down-market environment, Hyperliquid continues to aggressively clear massive buyer demand while registering $170B in monthly trading volume across its native order book infrastructure.The Performance Metrics: HYPE is trading at $63.32. The asset features a market capitalization of $14B, backed by a massive daily volume profile of $795M.Final Thoughts: Own the Future, Trade SmartNavigating modern liquidity rotations requires keeping your finger directly on structural data triggers. Whether it's the elimination of cross-chain bridge risks via native TAO integrations or the steady, non-stop institutional bids backing XRP, smart money leaves distinct footprints.Execute your trades across these highly volatile assets utilizing WOO X’s deeply consolidated order book infrastructure to minimize execution slippage and trade with a professional edge.
Trade Smart, Own the Future.
Disclaimer: This research briefing is for informational and educational purposes only and does not constitute financial, trading, or investment advice. Always manage your capital parameters safely.
Litecoin (LTC) founder Charlie Lee has challenged a popular crypto narrative and stated that “99% of tokenization is hype and not useful.” His remarks come as the tokenized real-world asset market is gaining momentum on the Ethereum and XRP Ledger networks.
Litecoin Founder Weighs In On Tokenization Space Speaking at CoinGape’s Voice of Web3 podcast, Lee threw out a question about the benefits of placing assets such as real estate, equities, and bonds on blockchain. This narrative contradicts Ethereum dominating the tokenized asset market with over $203 billion in total asset value.
Moreover, XRP Ledger recorded growth in RWA. The network boasts more than $3.6 billion in tokenized asset value and approximately $1.9 billion in net inflows over the past 90 days.
Talking about tokenization in real estate, Lee said that the records on blockchain don’t necessarily constitute the final record of ownership. He took as an example that a deed for a house was put on a blockchain. Thereafter, Lee asked if the theft of the deed from a wallet’s owner by a hacker would automatically make the hacker the legal owner of the house.
“The actual source of truth is some government ledger,” Lee said. He questioned, “If the source of truth is not the blockchain, then what’s the point?”
Lee says that tokenization only makes sense if the blockchain’s own records of ownership are used. He explained the difference between tokenized assets and cryptocurrencies like Litecoin, where the private key is the control of the asset, while with the latter, no one can block transactions.
The Decentralization & Liquidity Factors In Focus He also spotlighted the importance of decentralization in digital assets such as Bitcoin and Litecoin. Lee declared, “The blockchain is the source of truth for crypto.”
Lee also raised a point about the fact that tokenization doesn’t necessarily make something liquid. Supporters say that assets on-chain enable global investors to trade them 24/7, but he said liquidity is ultimately a function of demand, not technology.
“Liquidity only comes if there’s demand. Just putting stuff on the blockchain doesn’t automatically create liquidity,” Lee added.
Nowadays, tokenizing is gaining traction with crypto exchanges and blockchain networks competing to include stocks, bonds, treasuries, and real estate on its network. However, Lee proposed that there are many projects that are similar to past blockchain movements which have tried to implement technology first, and then found a helpful use case.
Still, the Litecoin creator emphasized that some of the current tokenization projects may be beneficial. Nonetheless, he noted that most initiatives have not yet proven the need for decentralization and he remains unconvinced of the long-term worth of the sector.
Crypto analyst Ali Martinez has flashed a new XRP crash warning. He revealed a bearish roadmap indicating the token could fall as low as $0.15 after losing a vital support zone.
Analyst Sounds Alarm Over Potential XRP Crash In a thread on X, Martinez highlighted three accumulation zones at $0.70, $0.32 and $0.15 for Ripple’s XRP. It implies that the current XRP crash may further extend, assuming sellers maintain their dominance.
XRP price chart analysis. Source: Ali Charts | X He also added his remarks after XRP fell below the crucial $1.10 support level. The dampened market sentiment and caused anxiety of further declines.
On Wednesday, XRP was trading around $1.08, as other cryptocurrencies continued to slide. The XRP crash has coincided with growing concerns that the Federal Reserve may adopt a more restrictive monetary stance. Such expectations come as CPI inflation accelerated to 4.2% year-over-year in May, up from 3.8% in April.
After inflation, traders ramped up their expectations for higher rates, pushing in the odds of a September hike notably higher.
After the June 17 FOMC meeting, Federal Reserve Chairman Kevin Warsh reiterated that the Fed is committed to bringing inflation back to its 2% target. His remarks suggested a hawkish stance, which is weighing on risk assets like crypto, including Bitcoin, Ethereum, XRP and others.
Current Scenario For XRP Price XRP continues to tell a bearish story on the technical side, trading below all major trend indicators. The current downtrend is quite powerful with the XRP crash below the 50-day EMA at $1.24, 100-day EMA at $1.34, and 200-day EMA at $1.55. Also, the XRP price is trading below the Bollinger bands upper level of $1.14 and slightly above the lower band at $1.07.
XRP price chart today. Source: TradingView There is little respite from momentum indicators. Buying demand is weak with the Relative Strength Index around 35 and the MACD just slightly above zero.
If the XRP crash continues and the $1.07 support levels fail to hold then traders may start to shift focus to Martinez’s downside targets: $0.70, $0.32 and finally $0.15.
On the positive side, XRP would have to break above $1.10 and then move up to $1.15 for further upside. Thereafter, it can go beyond to find its footing into the $1.20 and $1.30 range and even higher if there’s the progress on CLARITY Act.
Moreover, another bullish case is that spot XRP ETF inflows have soared despite geopolitical tensions. These funds are nearing $1 billion in assets under management.
JFSA regulatory approval marks RLUSD’s official debut in Japan, unlocking access for institutions and retail through SBI VC TradeTOKYO, JAPAN – June 24 , 2026 – Ripple, the leading provider of blockchain-based enterprise solutions across traditional and digital finance, together with SBI Holdings, a major Japanese financial services conglomerate, alongside its subsidiary SBI VC Trade Co., Ltd., a licensed Electronic Payment Instruments Exchange Service Provider (jointly “SBI Group”), today announced the official launch and availability of Ripple USD (RLUSD) in Japan. This milestone delivers on the strategic vision outlined in their initial memorandum of understanding (MOU) announced in August 2025 and marks RLUSD’s entry into one of the world’s most sophisticated and forward-looking digital assets markets.
RLUSD’s launch in Japan follows regulatory approval from the Japan Financial Services Agency (JFSA), under which RLUSD is categorized as a new type of electronic payment instrument under Japan’s Payment Services Act, which is intended for foreign-issued stablecoins that ensure the safety and regulatory standards required under Japanese law. RLUSD will be offered to both institutional and retail users through SBI VC Trade’s VCTRADE platform.
"Japan has long been a leader in digital asset adoption, underpinned by both regulatory clarity and financial innovation. This launch marks an important step in expanding access to transparent, regulated USD-backed stablecoins like RLUSD for financial institutions, consumers and businesses in Japan,” said Jack McDonald, Senior Vice President of Stablecoins at Ripple. “Through our collaboration with SBI Group, RLUSD will serve as a bridge for payments, tokenization and collateral management,connecting Japanese businesses and individuals more efficiently to global liquidity. Together, we're helping advance regulated stablecoin adoption across Asia."
"We are truly pleased to announce the launch of support for RLUSD, a U.S. dollar-denominated stablecoin. Ripple and the SBI Group have worked closely together for many years with a shared vision of advancing the future of on-chain finance. The introduction of RLUSD represents a major milestone in our ongoing collaboration and our efforts to drive innovation in digital finance. Looking ahead, we remain fully committed to expanding the range of services built around RLUSD and fostering new use cases that deliver greater value to our customers and the broader market," said SBI VC Trade CEO, Tomohiko Kondo.
RLUSD is an enterprise-grade, USD-backed stablecoin built with trust, liquidity, and compliance at its core. Since its launch in late 2024, RLUSD has reached US$1.7 billion in market capitalization, driven by increasing demand for regulated, enterprise-ready digital assets. Already deployed across multiple markets to enable faster settlements, greater transparency, and more efficient cross-border liquidity, RLUSD is also being actively explored for next-generation applications including programmable trade settlements and supply chain finance.
This builds on a decade-long relationship between Ripple and SBI Group, which have worked together since 2016 to advance digital asset and blockchain-based financial infrastructure across Japan and the broader Asia-Pacific region. Through a series of joint initiatives, the two companies have helped drive innovation in cross-border payments and digital asset adoption. With RLUSD now available through SBI VC Trade, the partnership enters its next phase, bringing a regulated, enterprise-grade stablecoin to one of the world's most sophisticated digital asset markets.
About Ripple
Founded in 2012, Ripple is the leading provider of blockchain-based enterprise solutions across traditional and digital finance. Its solutions span global payments, custody, liquidity, and treasury management, serving as a one-stop shop for moving, storing, exchanging, and managing value. Ripple’s stablecoin, RLUSD, and the cryptocurrency XRP underpinning these solutions allow Ripple and its customers to shape the modern financial system.
About SBI VC Trade
SBI VC Trade, under the slogan “Cryptocurrency is also SBI,” leverages the comprehensive capabilities of the SBI Group, Japan’s largest internet-based financial services group, to provide a full range of cryptocurrency trading services. As a Crypto Asset Exchange Service Provider, Type 1 Financial Instruments Service Provider, and Electronic Payment Instruments Exchange Service Provider, the company operates under a robust security framework. Beyond simply buying and selling crypto assets, SBI VC Trade is expanding into crypto asset management services and corporate-focused services, as well as becoming the first in Japan to begin handling USDC. SBI VC Trade is committed to creating innovative services and businesses rooted in a customer-centric principle.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Although XRP is still trading close to its lowest points from 2026, there is still a chance for a recovery. Despite the fact that the asset is still under a lot of technical pressure, a number of indicators point to the possibility that sellers are getting tired after months of almost constant weakness. Following yet another rejection from short-term resistance, the chart displays XRP trading at roughly $1.08.
The token has had difficulty creating any significant upward momentum since breaking below the crucial $1.28 support zone earlier this month. Each attempt at a rally has resulted in a lower high, demonstrating that bears continue to dominate the market structure. But it's crucial to understand where XRP is right now.
XRP/USDT Chart by TradingViewThe same support area that prevented the February collapse and resulted in a significant rebound is being tested by the asset once more. This is one of the most significant price points XRP has seen this year because markets frequently return to key demand zones prior to more significant reversals.
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Oversold conditions frequently signal that a large portion of the panic selling has already taken place, even though they do not by themselves ensure a reversal. In the past, XRP has produced some of its biggest comebacks during periods of extreme negativity. The bearish case is still simple. XRP continues to trade below its moving averages for the last 50, 100, and 200 days.
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The longer-term moving averages are still sloping lower, and the former support zone around $1.28 has now turned into a significant resistance area. The overall trend is still negative until those levels are restored. However, markets seldom stay in a straight line for very long. The current setup is intriguing because of the increasing disparity between expectations and sentiment.
Since many traders now anticipate more declines, even a slight improvement in market conditions could lead to a relief rally that is stronger than anticipated. Attention may soon turn to a recovery of the wider range if buyers are able to push XRP back above $1.18 and defend the $1.05-$1.10 support zone.
XRP is currently still in a downward trend. However, the asset is currently trading at a level where recovery hopes are not wholly unrealistic, in contrast to earlier phases of the decline. The groundwork for a possible comeback is starting to take shape, but the bulls still have a long way to go.
Bitcoin's breakthrough potentialOnce more, Bitcoin is trying the patience of investors. The market is still stuck in a broad consolidation phase following a violent correction that drove Bitcoin from the $80,000 region toward the low $60,000s. But despite the bearish pressure that persisted throughout June, there are indications that a big move might be on the horizon.
BTC/USDT Chart by TradingViewBitcoin is currently trading close to $61,000 following yet another rejection by short-term resistance. The asset is still below its important moving averages, such as the declining 50-day and 100-day trends. Technically speaking, bulls don't have much to celebrate. In the larger market structure, sellers continue to have the upper hand. However, the story has another side. The fact that Bitcoin has consistently protected the $60,000-$61,000 range is one of the chart's most significant findings.
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Bears were unable to spark another wave of panic selling after the dramatic capitulation event earlier this month. Rather, Bitcoin entered a comparatively narrow range, indicating that supply might be progressively running out. Volume behavior lends credence to this interpretation.
The initial collapse saw the biggest volume spikes, which were indicative of forced selling and extensive liquidation. Since then, trading activity has returned to normal, which frequently occurs when markets start to form a local bottom instead of moving quickly toward another leg lower.
The Relative Strength Index has recovered from oversold conditions and is now in neutral territory. This is noteworthy because it indicates that momentum has stabilized without necessitating a significant price rebound. Larger directional movements are frequently preceded by such behavior.
The $65,000-$66,000 range is still the crucial area to monitor. The short-term moving average, which has consistently rejected bullish attempts, aligns with this region. A clear breakout above it would likely force short sellers to cover their positions, which could lead to a move toward the much more significant resistance area between $70,000 and $72,000.
As long as Bitcoin is trading below those levels, the bearish scenario is still in effect. But the longer Bitcoin stays above the recent lows without plummeting, the more probable it is that the market is getting ready for a more robust comeback.
Will Ethereum stabilize?After one of the biggest corrections of the year, Ethereum seems to be entering a phase of stabilization. The second-largest cryptocurrency, ETH, is currently trading in the $1,650-$1,700 range in an effort to form a local bottom after a sharp sell-off that forced it below a number of important support levels.
Ethereum is still clearly below all of the major moving averages on the chart, indicating that the overall trend is still negative. The substantial damage done to market structure over the past few months is reflected in the 50-, 100-, and 200-day moving averages, which are still sloping downward.
Bulls still haven't reclaimed any significant resistance area. However, there are early indications that selling pressure might be waning. Ethereum was able to produce a modest recovery following the sharp decline toward the $1,600 area, and it has spent several sessions consolidating rather than falling further.
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Following a capitulation event, this kind of price behavior frequently shows that market participants are assessing fair value. The interpretation is supported by volume patterns. The breakdown saw the most trading activity, which may indicate a wave of panic selling and forced liquidations.
Volume has since steadily decreased, which usually coincides with the establishment of a temporary equilibrium between buyers and sellers. Ethereum's situation is still precarious until then. Although the recent stabilization is encouraging, there is still no evidence of a wider trend reversal. While the market awaits ETH's next big move, the cryptocurrency is currently holding steady at $1,700.
PANews June 25 news, according to SoSoValue data, yesterday (Eastern Time, June 24) the XRP spot ETF saw a total daily net inflow of $2.0464 million.
Yesterday, only the Grayscale XRP Trust ETF (GXRP) recorded net inflows, with a single-day net inflow of $2.0464 million, bringing its historical total net inflow to $131 million.
As of press time, the XRP spot ETF’s total net asset value stands at $928 million, with an XRP net asset ratio of 1.39%, and historical cumulative net inflows have reached $1.454 billion.
Ripple has launched its dollar-backed stablecoin Ripple USD (RLUSD) in Japan with SBI Group, following approval from the country’s Financial Services Agency.
Customers can now access RLUSD through SBI VC Trade’s VCTRADE platform. The rollout opens the regulated token to both institutional and retail users in Japan.
Ripple Opens RLUSD to Japanese UsersJapan reshaped its stablecoin rules this month. A new framework took effect on June 1, letting qualifying foreign stablecoins operate as regulated payment tools.
Under the rules, foreign-issued stablecoins are classified as electronic payment instruments under the Payment Services Act. RLUSD is also categorized as a new type of instrument under the Act.
Ripple’s Senior Vice President of Stablecoins, Jack McDonald, said RLUSD will act as a bridge for payments, tokenization, and collateral management. He framed it as a link between Japanese businesses and global liquidity.
“Japan has long been a leader in digital asset adoption, underpinned by both regulatory clarity and financial innovation. This launch marks an important step in expanding access to transparent, regulated USD-backed stablecoins like RLUSD for financial institutions, consumers, and businesses in Japan,” McDonald said.
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The launch fulfills a memorandum of understanding signed in August 2025. It also builds on a Ripple and SBI partnership that dates back to 2016.
The deal reflects SBI’s broader XRP push nationwide. Ripple’s wider Japan footprint also grew this year, with XRP gaining a spot listing on Rakuten Wallet.
Meanwhile, the stablecoin has cooled since its early-June peak. Its market cap hit an all-time high of $1.8 billion then, but has since slipped to about $1.59 billion, according to DeFiLlama data. Even so, the market cap remains up roughly 271% over the past year.
Ripple USD (RLUSD) Stablecoin Market Cap. Source: DeFiLlamaThe Japan entry follows RLUSD’s global expansion into other regulated markets. The coming months may show whether RLUSD can challenge incumbents in Japan’s regulated stablecoin market.
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XRP slid 2.8 percent to about $1.07, losing key support at $1.0850 and leaving the token near the lower end of its June trading range.Traders now see $1.05 to $1.07 as the critical support band, with a break lower likely to refocus attention on the psychological $1 level.Analysts say XRP remains in a defensive posture below $1.0850, and that bulls must reclaim $1.10 to show the latest breakdown was only a shakeout.XRP lost $1.0850 during Tuesday’s selloff, then failed to win it back. That leaves the token sitting near the lower end of its June range, with buyers still defending the $1.05-$1.07 area but no longer pushing price far enough to change the tape. Every failed bounce makes $1 look a little closer.
News Background• XRP traded lower alongside a broader crypto market pullback, with CD5 dropping nearly 3% as bitcoin and major tokens came under pressure.
• Analysts continue to frame the $1.05-$1.10 zone as a key support area for XRP, with a break below it likely shifting attention toward the psychological $1 level.
• Longer-term bulls still point to a multi-year falling wedge structure, but near-term price action remains defined by lower highs and repeated failed recoveries.
Price Action Summary• XRP fell from $1.1020 to $1.0708 during the 24-hour session, losing 2.8%.
• The main breakdown came at 13:00 UTC, when volume surged to 117.26 million XRP and pushed price through support at $1.0850.
• Selling later drove XRP to an intraday low near $1.0446 before a modest rebound carried price back toward $1.07.
Technical Analysis• The loss of $1.0850 shifted that level from support into resistance, leaving buyers with another overhead level to reclaim.
• The bounce from the $1.04 area was weak. Price recovered, but volume faded quickly and XRP failed to challenge the breakdown zone.
• The intraday chart continues to show lower highs, with rallies stalling near $1.073-$1.075 before sellers step back in.
• XRP remains stuck in a defensive structure as long as it trades below $1.0850 and keeps revisiting the same support band.
What traders should watch• $1.05-$1.07 is the immediate support zone. Losing it would put $1.00 back in focus.
• $1.0850 is the first recovery level bulls need to reclaim before the chart starts to stabilize.
• $1.10 remains the next resistance area, with failed retests there likely to keep sellers in control.
• A move back above $1.10 would suggest the latest breakdown was another shakeout.
Ripple has officially launched its USD-backed stablecoin RLUSD in Japan, marking a major milestone in the company’s expansion across Asia. Following approval from Japan’s Financial Services Agency (JFSA), RLUSD is now available to both institutional and retail users through SBI VC Trade’s VCTRADE platform.
The launch delivers on the strategic partnership announced by Ripple and SBI Group in August 2025 and brings regulated USD stablecoin access to one of the world’s most advanced digital asset markets.
Ripple and SBI Expand Their Long-Term PartnershipRipple and SBI have been working together since 2016 to expand blockchain use across Japan and Asia-Pacific. With RLUSD now live, they plan to use it for cross-border payments, tokenization, and collateral management.
Ripple says Japan’s clear regulations make it a key market for stablecoins, while SBI called the launch a major step toward the future of on-chain finance.
Konnichiwa 🇯🇵 @Ripple and @sbigroup have officially launched Ripple USD (RLUSD) in Japan!
Following JFSA approval, RLUSD is now live for institutional and retail users on SBI VC Trade’s platform. This builds directly on our long-standing partnership and brings trusted,… https://t.co/Fe20yKQEMJ
— Reece Merrick (@reece_merrick) June 25, 2026 According to Reece Merrick, Managing Director, Middle East & Africa, Ripple, “following JFSA approval, RLUSD is now live for institutional and retail users on SBI VC Trade’s platform. This builds directly on our long-standing partnership and brings trusted, regulated USD stablecoin access to one of the most innovative markets.”
A Fully Regulated USD StablecoinRLUSD has been approved in Japan as a Type 4 Electronic Payment Instrument.It is fully backed 1:1 by U.S. dollar deposits, Treasuries, and cash equivalents.Reserves are verified through monthly third-party attestations.SBI VC Trade will offer free RLUSD deposits and withdrawals.RLUSD is the second USD stablecoin on the platform after USD Coin.Since launching in late 2024, RLUSD has grown to a market cap of about $1.7 billion.RLUSD on XRPL Is Closing In on EthereumMeanwhile, the community is getting more interested in RLUSD’s supply distribution across blockchains.
According to XRP community members Vet and Bill Morgan, RLUSD circulating on the XRP Ledger is now close to overtaking Ethereum, with roughly $792 million on XRPL compared with about $793 million on Ethereum.
Analysts see Ripple is gradually shifting growth toward XRPL, which better aligns with the stablecoin’s core strengths of fast payments and efficient value transfers. Recent customer redemptions on Ethereum have also reduced supply there.
With Japan now onboard, Ripple is continuing to position RLUSD as a key piece of regulated global financial infrastructure.
Story Ends Here
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Ripple (XRP) remains under pressure, trading at $1.06 on Thursday after losing nearly 5% so far this week. Ripple and SBI Group partnered to launch RLUSD stablecoin in Japan following approval from the Japan Financial Services Agency (JFSA) on Thursday, but the move failed to lift sentiment. Traders remain cautious, with bearish derivatives metrics continuing to outweigh the positive fundamental development, while modest Exchange Traded Funds (ETFs) inflows provide only limited support for XRP’s price.
Ripple’s official X account posted on Thursday that its RLUSD stablecoin is now available in Japan, following approval from Japan’s Financial Services Agency.
“Through our partnership with SBI Group, RLUSD will be accessible to both institutional and retail users via the VCTRADE platform, serving as a bridge for payments, tokenization, and collateral management,” said Ripple on its X post.
Jack McDonald, Senior Vice President of Stablecoins at Ripple, said, “This launch marks an important step in expanding access to transparent, regulated USD-backed stablecoins like RLUSD for financial institutions, consumers and businesses in Japan.”
The development indicates a bullish long-term outlook, as it highlights Ripple’s growing footprint in Japan and could boost adoption of its payments ecosystem.
However, the announcement has done little to improve near-term sentiment, with XRP remaining under pressure, trading at $1.06 and down nearly 5% so far this week.
Derivatives data caps XRP recovery prospectsDerivatives metrics support a negative outlook for XRP. CoinGlass’ long-to-short ratio for XRP read 0.95 on Thursday, nearing its lowest level in over a month. The ratio being below one indicates bearish sentiment, as traders are betting that the assets’ prices will fall.
XRP long-to-short ratio chart. Source: CoinglassIn addition, the funding rate turned negative on Wednesday, reading -0.0020% on Thursday, indicating that shorts are paying longs and suggesting bearish sentiment, capping XRP’s potential recovery.
XRP funding rates chart. Source: CoinglassMeanwhile, SoSoValue data shows some signs of optimism. Spot ETFs recorded an inflow of $2.05 million on Wednesday after an inflow of $5.31 million on Monday. If this inflow trend continues and intensifies, XRP could see a recovery ahead.
Total XRP spot ETF net inflow daily chart. Source: SoSoValueXRP technical outlook: Weakening momentum indicatorsXRP trades at $1.06 on Thursday, down nearly 5% so far this week. XRP is maintaining a bearish bias as price remains well below the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), clustered between roughly $1.23 and $1.54.
XRP also trades below the upper boundary of the prevailing downward-trending parallel channel at around $1.19, reinforcing the idea of a capped market despite modest stabilization in downside momentum. The Relative Strength Index (RSI) at about 33 stays just above oversold territory. At the same time, the Moving Average Convergence Divergence (MACD) line has slipped slightly further into negative territory, hinting that sellers still retain control even if pressure is less intense than during prior legs lower.
On the downside, the next important support is near $1.00, where buyers may attempt to build a more solid floor.
On the topside, initial resistance is seen at the channel boundary around $1.19, followed by the $1.30 horizontal barrier. Above that, the 100-day EMA at $1.33 and the 200-day EMA near $1.54 form a broader supply zone, while a more distant resistance level is at $1.90. As long as XRP remains below this stack of overhead levels, rallies are likely to be treated as corrective within the broader downtrend.
(The technical analysis of this story was written with the help of an AI tool.)
Ripple FAQs Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.
XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.
XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.
XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRP’s blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.
In major XRP news today, Ripple has launched its Ripple USD (RLUSD) stablecoin in Japan after receiving regulatory approval. The stablecoin is available through SBI VC Trade for both institutional and retail investors, as the company pushes for payments, tokenization, and collateral management.
Ripple Partners with SBI Group to Launch RLUSD in Japan In an official announcement on June 25, Ripple said that RLUSD is now available in Japan through a partnership with Japanese financial conglomerate SBI Holdings and its crypto arm SBI VC Trade.
This milestone deepens its partnership with SBI Group and enables RLUSD to serve as a bridge for payments, tokenization, and collateral management. Ripple asserts the move provides global liquidity to institutions and individuals.
“This launch marks an important step in expanding access to transparent, regulated USD-backed stablecoins like RLUSD for financial institutions, consumers and businesses in Japan,” said Jack McDonald, Senior Vice President of Stablecoins at Ripple.
The RLUSD stablecoin launch in Japan follows Ripple’s regulatory approval from the Japan Financial Services Agency. This categorized RLUSD as a new type of electronic payment instrument under the Payment Services Act, according to the statement.
Konnichiwa 🇯🇵 @Ripple and @sbigroup have officially launched Ripple USD (RLUSD) in Japan!
Following JFSA approval, RLUSD is now live for institutional and retail users on SBI VC Trade’s platform. This builds directly on our long-standing partnership and brings trusted,… https://t.co/Fe20yKQEMJ
— Reece Merrick (@reece_merrick) June 25, 2026
Japan Records Massive XRP and Crypto Adoption Ripple has a decade-long relationship with Japan-based SBI Group, with massive demand for XRP and partnerships for XRP Ledger development. With RLUSD stablecoin having a market capitalization of $1.6 billion, the companies will boost innovation in cross-border payments and digital asset adoption.
RLUSD is already deployed across multiple markets to enable faster settlements, greater transparency, and more efficient cross-border liquidity. Recently, Ripple expanded RLUSD into South Korea’s crypto market with Coinone listing.
As CoinGape reported earlier, SBI Holdings launched Yen-pegged stablecoin SPYSC on Ethereum with blockchain services provider Startale Group. JPYSC is distributed by SBI Shinsei Trust Bank and issued with the help of SBI VC Trade.
Meanwhile, Ripple partner SBI Holding plans to offer deposit rewards in Bitcoin, Ethereum, and XRP in Japan’s crypto market. The crypto rewards program is available via SBI Shinsei Bank.
XRP price has rebounded more than 3%, currently trading at $1.08. The prices dropped to a low of $1.05 amid global market selloffs due to the AI-driven tech rout and potential Fed rate hike.
Meanwhile, RLUSD continues to rise in terms of usage and market cap, hitting $1.6 billion on CG.
By extending its collaboration with long-term local partner SBI Group, Ripple has received approval from the Japanese Financial Services Agency (JFSA) to launch its stablecoin available in the country.
The company’s Senior Vice President of Stablecoins praised the Japanese regulatory environment and called it a leader in cryptocurrency adoption.
RLUSD in Japan The green light became possible from SBI Holdings, through its Electronic Payment Instruments Exchange Service Provider-licensed subsidiary SBI VC Trade Co., LTD, announced the launch of RLUSD in the Japanese market.
The partners initially signed a memorandum of understanding (MoU) in August this year. They explained this official launch marks the stablecoin’s major entry into one of the most “sophisticated and forward-looking digital assets markets.”
The license from the JFSA reads that RLUSD is described as a new type of electronic payment instrument under the country’s Payment Services Act. It’s designed for foreign-issued stablecoins that ensure the safety and regulatory standards required under local law. The statement added that both institutional and retail users will have access to Ripple’s stablecoin through SBI VC Trade’s VCTRADE platform.
“Japan has long been a leader in digital asset adoption, underpinned by both regulatory clarity and financial innovation. This launch marks an important step in expanding access to transparent, regulated USD-backed stablecoins like RLUSD for financial institutions, consumers, and businesses in Japan,” commented Jack McDonald, Ripple’s Senior VP of Stablecoins.
Meanwhile, SBI VC Trade CEO, Tomohiko Kondo, praised the long-standing partnership between his entity and Ripple, and highlighted RLUSD’s launch in Japan as the latest major milestone reached by both parties.
We’re proud to announce that Ripple USD ($RLUSD) is now officially available in Japan, following approval from the Japan Financial Services Agency (JFSA): https://t.co/5rJZBrFaIM
Through our partnership with SBI Group and @sbivc_official, $RLUSD will be accessible to both…
— Ripple (@Ripple) June 25, 2026
You may also like: Ripple Secures Preliminary MiCA License: Here’s Why That’s Important XRP Stages ‘Impressive Comeback’ Following Major Sentiment Slump: Santiment Ripple’s Garlinghouse Fires Back After Jamie Dimon Targets Coinbase and CLARITY ACT RLUSD Keeps Growing Despite its then-legal issues in the US, Ripple managed to launch its own stablecoin at the end of 2024. It’s primarily focused on institutions, but it has experienced substantial adoption growth across several fronts in the past two years, including from Mastercard.
The company has collaborated with numerous exchanges to enhance its usability and liquidity. Data from CoinGecko shows that RLUSD’s market cap has grown to $1.6 billion, slightly off the $1.7 billion claimed by Ripple. Nevertheless, it’s still among the 50 largest cryptocurrencies by market cap, and it’s the 10th-biggest in its stablecoin niche.
It is often the liquidity of major trading platforms that decides the fate of cryptocurrencies, and the concentration of volumes on Binance makes it the essential barometer of the market’s major trends. While investors were looking for any sign of scarcity to justify a price increase, the latest fundamental data have just cooled hopes of an immediate rally.
In brief XRP faces a sharp increase in supply on Binance, which causes its scarcity index to drop to a more than three-month low. This abundance of tokens reduces the chances of a rally, due to insufficient demand to absorb the available volumes. The pressure quickly spread to the derivatives market, causing over 13.5 million dollars in liquidations, mainly on long positions. These converging signals call for caution, as Binance becomes more than ever the main indicator of XRP’s momentum. The Collapse of the Scarcity Index: An Abundance of Tokens on Binance The crypto market is undergoing a major technical shift following the release of data from the analytics platform CryptoQuant. Indeed, the key indicators reveal a fundamental change in the existing supply structures for the asset :
A drop in the scarcity index : the “XRP Binance Scarcity Index” recorded a spectacular decrease, collapsing to around 0.34, reaching its lowest level in over three months as the crypto is trading near $1.13 ; The reversal of the spring trend : this figure marks a clear break with April and May, during which the same index had hovered around 0.80, reflecting a particularly tight supply ; A historic perspective : after reaching highs above $3 during previous cycles, the price stabilized in a lower range, while the scarcity indicator has turned downward permanently. This increase in the available supply of tokens on Binance reduces the scarcity effect that had helped maintain the asset’s price in the past. CryptoQuant analysts corroborate this quantitative observation by clearly stating that “the index has fallen to about 0.34, its lowest level in more than three months, illustrating a relative increase in the available supply of XRP on the platform compared to previous periods”.
The End of Supply Constraints and Its Technical Consequences The increase in available liquidity on Binance’s order books profoundly changes the price structure and neutralizes buying forces. From a purely technical point of view, when the scarcity of an asset diminishes on a major exchange platform, selling barriers disappear.
Massive deposits or stockpiles of tokens intended for trading act as a ceiling, blocking price increases and keeping the market in a stagnant phase. This phenomenon explains the asset’s recent weakness, struggling to maintain bullish momentum without the arrival of a demand shock capable of absorbing this token surplus.
Experts agree that without a radical transformation in traders’ psychology or the emergence of a major fundamental catalyst, the probability of a rapid price revaluation remains statistically low. Market reports are sounding the alarm and forecast a continuation of this trend.
As noted by CryptoQuant’s study, “a further drop in scarcity could imply greater liquidity of XRP on the exchange, potentially limiting the probability of strong upward price movements unless accompanied by a significant increase in demand or an improvement in investor sentiment”.
The Massive Capitulation of Long Positions The deterioration of on-chain data in the spot market triggered a violent chain reaction on leveraged positions. According to the latest data compiled by Coinglass, the price drop to $1.0573 caused a wave of massive liquidations totaling $13.53 million within twenty-four hours.
These liquidations occurred in an extremely asymmetrical and unfavorable way for buyers: long positions alone account for $13.01 million in losses, versus only $518,890 for short positions. With $7.59 million in positions wiped out, Binance stands as the epicenter of this capitulation, followed far behind by Bybit with $2.57 million.
This widespread purge reflects an excess of optimism among derivatives traders caught off guard by the reversal of the scarcity index. The fact that Binance concentrates almost all liquidations shows the fragility of speculative positions taken on this specific platform. This forced cleansing of order books removes the necessary catalyst for an immediate technical rebound, as the market now must rebuild its open position structure in a climate of increased distrust and heightened risk aversion.
In light of these cross indicators between spot and derivatives, the outlook calls for the utmost caution. On one hand, such liquidity can be viewed positively by large institutional investors wishing to execute substantial orders without overly moving prices. On the other hand, for retail traders, this abundance on Binance acts like a heavy weight, exerting diffuse downward pressure.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Key Takeaways Ripple’s XRP has declined to approximately $1.057, representing a pullback exceeding 15% from its June 16 high around $1.29 Available XRP inventory on Binance reached its highest point in three months, pushing the Scarcity Index down to 0.34 Technical analysis reveals a descending wedge formation on the 4-hour timeframe, suggesting potential reversal opportunities Data from CoinGlass identifies a significant liquidation concentration around $1.14 that may attract upward momentum Derivatives markets saw $13.53 million in liquidations over 24 hours, with bullish positions accounting for 96% of losses Ripple’s XRP token has experienced consistent downward pressure following its June 16 peak near $1.29. As of June 24, the digital asset was changing hands around $1.057, marking a decline of more than 15% within roughly eight days.
XRP Price The downturn materialized shortly after Ripple obtained preliminary authorization under Europe’s Markets in Crypto-Assets (MiCA) regulatory framework via Luxembourg. While this approval provides passporting privileges throughout the European Economic Area, market participants opted to realize gains instead of bidding prices upward.
Bitcoin’s weakness amplified the selling momentum. The leading cryptocurrency momentarily dipped under $62,000 during this same window, dampening enthusiasm across the wider digital asset ecosystem. Persistent elevated interest rates combined with investment capital shifting toward artificial intelligence and semiconductor equities have constrained speculative inflows into cryptocurrencies throughout Q2.
Prominent crypto analyst Altcoin Sherpa shared observations on X, noting that XRP’s chart structure appears unfavorable across multiple timeframes and suggesting the token might drift lower toward $0.75. Such pessimistic commentary from an influential market voice underscores prevailing negative sentiment.
Descending Wedge Pattern Suggests Possible Bounce The 4-hour timeframe reveals XRP developing a descending wedge configuration since reaching its June 16 peak. This technical structure displays two downward-sloping converging trendlines and frequently precedes upward reversals when selling exhaustion sets in.
Source: TradingView The token has approached the wedge’s lower edge near $1.08, which coincides with a Fibonacci support area. An upward breach of the upper boundary could activate resistance targets at $1.13, $1.16, and $1.19.
Technical oscillators present conflicting signals. The 4-hour MACD continues trading beneath the zero threshold, indicating bears maintain near-term dominance. Nevertheless, the histogram bars have begun compressing, hinting that downside force may be diminishing. Chaikin Money Flow registers approximately -0.13, reflecting ongoing capital withdrawal from the asset.
On the daily timeframe, XRP trades beneath Supertrend resistance positioned near $1.24 and under a pattern of declining peaks established since mid-May. The daily RSI hovers around 36, nearing oversold conditions without quite reaching that threshold.
Exchange Inventory Expands as Scarcity Metric Falls to Multi-Month Low A CryptoQuant report released June 22 demonstrates the XRP Binance Scarcity Index declining to roughly 0.34, marking its weakest reading in over three months. This metric calculates accessible XRP inventory on Binance relative to trading activity.
Source: CryptoQuant Throughout April and May, this index maintained levels near 0.80, indicating constrained availability. The descent to 0.34 reveals substantially more XRP sitting on the exchange, which can suppress price appreciation unless buying interest intensifies.
CoinGlass analytics highlight a substantial liquidation zone spanning $1.13 to $1.15. Should buyers defend current support successfully, that price range could generate upward activity and trigger forced short closures. Over the preceding 24-hour period, XRP derivatives experienced $13.53 million in liquidations, with bullish bets comprising $13.01 million or 96% of the aggregate. Binance recorded the highest liquidation volume at $7.59 million, with Bybit following at $2.57 million.
A decisive move beneath $1.08 would shift attention toward $1.05 and subsequently $1.00 as the next meaningful support thresholds.
XRP experienced a notable price decline after reaching a recent high of approximately $1.29 on June 16. As of June 24, the cryptocurrency was trading at around $1.057, marking a pullback of over 15% in just eight days.
XRP slips despite MiCA approvalThe drop came on the heels of Ripple securing preliminary approval under the European MiCA (Markets in Crypto-Assets) regulatory framework via Luxembourg—a move expected to facilitate operations across the European Economic Area. While this development was anticipated to provide a boost, selling pressure dominated as investors opted to lock in recent gains rather than chase higher prices. Ripple remains best known for its focus on cross-border payments within the fintech sector.
Despite the preliminary approval, the market showed no significant appetite for buying, and many investors chose to preserve their profits following XRP’s rally.
At the same time, Bitcoin faced weakness, briefly sliding below $62,000. This downturn in the leading digital asset limited broader crypto market risk appetite. Ongoing high interest rates and shifting investor focus toward AI and semiconductor stocks instead of cryptocurrencies have continued to dampen speculative capital inflows into the sector throughout the second quarter.
Technical outlook flags limited signs of recoveryProminent crypto analyst Altcoin Sherpa assessed that XRP’s short-term chart remains weak and signaled that a retreat toward $0.75 would not be surprising. This reflects the prevailing caution in the market.
Altcoin Sherpa described XRP as lacking strength on lower timeframes, suggesting the bearish trend could persist a while longer.
On the four-hour chart, a descending wedge pattern has formed—a technical structure that can potentially precede a trend reversal if selling pressure wanes.
Glossary: A descending wedge is a pattern where price forms lower highs and lower lows within two converging trendlines. If selling eases, a breakout to the upside may occur.
XRP has approached the lower boundary of this wedge and the support area around $1.08. Should a bullish breakout emerge, resistance is expected at $1.13, $1.16, and $1.19. Meanwhile, the four-hour MACD indicator remains below the zero line, reinforcing near-term bearishness. On the daily chart, XRP’s RSI hovers near 36, indicating the asset is approaching oversold territory.
XRP supply on exchanges increasesAccording to CryptoQuant data on June 22, the XRP Scarcity Index on Binance dropped to 0.34, its lowest in three months. This is a significant decline from the 0.80 levels seen in April and May, pointing to a sharp increase in the amount of XRP available for trading on the platform. Unless demand accelerates, this rising supply could continue to weigh on price.
CoinGlass data highlights a heavily concentrated liquidation zone between $1.13 and $1.15. If buyers can defend current support, this region could see rapid upward movement. In the last 24 hours, $13.53 million in XRP derivatives were liquidated—with $13.01 million consisting of long positions. The largest liquidation was at Binance with $7.59 million, followed by $2.57 million on Bybit.
Should XRP fall decisively below $1.08, the next support levels will be watched at $1.05 and $1.00.
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.
SBI Holdings, Ripple’s XRP banking partner in Japan, has signed the deal to purchase crypto exchange Bitbank for around ¥46.7 billion ($288.65 million).
XRP Veteran SBI Holdings Moves To Finalize Bitbank Deal On Thursday, June 25, the Japanese financial behemoth announced that it would buy Bitbank using its 100 percent-owned subsidiary, SBICAH LLC. As part of the transaction, SBI will have 100% stake in the exchange once all the related steps are finalized.
For XRP supporters, this acquisition is important as it builds on the efforts of a prominent crypto venture in Japan. SBI Holdings has been pushing Ripple-related projects and XRP payment solutions in its overall digital asset strategy for a decade now. Recently, the SBI Group even launched the RLUSD stablecoin in Japan after regulatory approvals.
The Bitbank deal involves SBI Group buying back 53,704 shares from the existing shareholders of Bitbank. It will also purchase another 48,952 shares as part of a capital increase. The total acquisition cost is around ¥46.7 billion, per the announcement today.
The transfer of shares is expected to be completed in August 2026. The remaining steps and capital increase are expected to be completed around October 2026. However, the deal is contingent on regulatory clearance, such as from Japan’s Fair Trade Commission.
Why Is The Bitbank Acquisition Important? According to SBI, the Bitbank deal will enhance its crypto business in Japan. The company confirmed that it is on a mission to grow its crypto exchange business and develop stablecoins, on-chain finance, and other opportunities. Further, the buyout comes on the heels of its yen-backed JPYSC stablecoin debut on Tuesday.
In the release, SBI Group stated, “By welcoming Bitbank into our group, our group will mutually utilize the customer base, service development capabilities, security and compliance systems, and management resources of both companies.”
The Ripple partner also pointed out the size of the deal it would involve. According to data from April 2026, the joint SBI and Bitbank VC Trade will operate approximately ¥1.1 trillion worth of customer assets. Further, it would support approximately 2.92 million crypto accounts.
That would rank the group as the leader of Japanese crypto exchanges in terms of assets under management, according to SBI. Moreover, it would also boast the highest number of crypto exchange accounts in the country.
The XRP-linked Japanese conglomerate also introduced Solana trading and custody services recently. Hence, acquiring Bitbank could also help in expanding these services and adding support for other cryptocurrencies.
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XRP price has lost more than 50% of its value over the past year, and is now trading close to the $1 mark. While the drop has shocked investor confidence and sparked fears that the token could fall even further.
Meanwhile, some well-known crypto analysts believe XRP is approaching one of the most important price zones of this cycle before the start of an upward breakout.
XRP Lost a Support, Now All Eyes Are on the $0.87 ZoneAccording to the XRP chart analyst ChartNerd, the recent drop in XRP price began after it failed to hold the $1.19 support level. That breakdown also pushed the token below its important 0.786 Fibonacci retracement, opening the door for another move lower.
He believes the next major support sits between $0.84 and $0.87, where XRP’s long-term Gaussian Channel and the 0.854 Fibonacci level meet. According to the analyst, this area has historically marked the end of bear markets and the beginning of new upward trends.
The analyst also pointed out that every major XRP bull market, including the rallies in 2017, 2021, and the 2024 breakout, started only after XRP returned to its long-term Gaussian Channel.
That same middle regression band now sits around $0.84, making it one of the most closely watched levels on the chart.
Historical XRP Bear Markets Suggest the Worst May Be NearFurther into the analysis, ChartNerd suggests the current XRP correction may be less severe than previous bear market cycles.
Historically, XRP has experienced declines of 85% to 96%, with bear markets lasting between 400 and 790 days. In comparison, the current downturn has seen a roughly 69% decline over about 11 months, making it relatively shallow.
The analyst believes that if XRP finds support in the current zone, attention will shift back toward $1.30 and $1.65. While a drop below the $1 mark may trigger panic among investors.
CryptoQuant Says This Isn’t a Panic-Driven CollapseWhile prices continue to weaken, on-chain data suggests traders are not rushing for the exits. According to CryptoQuant, XRP’s Binance Perpetual-Spot Volume Imbalance remains close to normal levels.
The indicator currently shows a Volume Imbalance of around 0.51, while its 30-day Z-Score sits near 0.17.
Meanwhile, derivatives trading in XRP has cooled after the strong rally in April and May, while trading activity has now returned to normal levels.
This means that the recent price drop is mainly due to weaker market sentiment rather than heavy liquidations or excessive leverage.
XRP’s Last Dump Before Bull Run BeginsOn the other hand, another popular crypto analyst, Dark Defender, says XRP may be completing its final Wave 5 near the $1.05 area. At the same time, the weekly RSI is showing a rare double-dip bullish divergence, a pattern last seen during the 2022 bear market bottom.
Well, ChartNerd also noted that XRP has now spent more than 3,400 days building a long-term base, almost twice as long as the accumulation period before its historic 2017 breakout.
Unlike previous cycles, today’s market also includes institutional partnerships, broader regulatory clarity, growing ETF expectations, and ongoing discussions around the U.S. CLARITY Act.
For now, analysts agree that XRP could still test the $0.84-$0.87 region before finding a durable bottom.
But if history repeats, that same zone could become the foundation for XRP’s next bull run.
Story Ends Here
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XRP fell to an intraday low of $1.0462 on June 25, extending a 10% weekly decline as the CLARITY Act hit new political friction and the broader crypto market sold off sharply. The token is currently trading at $1.0837, down 1.42% over 24 hours, with price sitting below all three key moving averages on the 4-hour chart. Despite the sell-off, XRP spot ETFs have now recorded seven consecutive weeks of net inflows, and Ripple secured a preliminary MiCA CASP license in Luxembourg on June 23.
Key Takeaways XRP touched $1.0462 intraday on June 25 — the lowest level in the current correction cycle Price is at $1.0837, down 1.42% on the day; 24H high was $1.1026 MA(7) at $1.0754 | MA(25) at $1.1109 | MA(99) at $1.1467 — XRP trading below all three Four U.S. law enforcement groups challenged the CLARITY Act’s Section 604; the DOJ pushed back the same day, calling the letter factually inaccurate Ripple received preliminary CASP approval from Luxembourg’s CSSF under the EU’s MiCA framework on June 23 XRP spot ETFs extended a seven-week streak of net inflows despite the price decline XRP Price Metrics — June 25, 2026 MetricValueXRP Price (current)$1.083724h Change–1.42%24h High$1.102624h Low$1.0462MA(7)$1.0754MA(25)$1.1109MA(99)$1.1467Key Support$1.0462 / $1.00Key Resistance$1.1109 (MA(25)) / $1.1467 (MA(99))XRP ATH$3.65 XRP Tests $1.0462 as Selling Pressure Deepens XRP broke below the $1.05 support zone on June 25, printing a $1.0462 intraday low before recovering toward $1.08. The 4H chart structure is fully bearish: price is below MA(7) at $1.0754, MA(25) at $1.1109, and MA(99) at $1.1467, with each moving average acting as overhead resistance in descending order.
XRP has shed roughly 10% over the past week and approximately 20% month-to-date, mirroring Bitcoin’s broader decline. Key support is now at $1.0462, with a confirmed daily close below that level opening a potential test of the $1.00 psychological floor.
A recovery above MA(7) at $1.0754 is the first condition for near-term stabilization. Reclaiming MA(25) at $1.1109 would shift the short-term structure back to neutral.
CLARITY Act: Law Enforcement Pushback — and DOJ Fires Back Ahead of a July House hearing, four major U.S. law enforcement associations and an anti-trafficking coalition criticized Section 604 of the proposed CLARITY Act, arguing the provision — which would exempt certain non-custodial DeFi actors from money transmitter rules — could create regulatory gaps and weaken tools needed to investigate crypto-related crimes.
The Department of Justice responded the same day, pushing back on the groups’ claims and stating the letter “contains factual inaccuracies and mischaracterizes Administration policy.” Senate negotiators are preparing to release a final review period text before seeking floor consideration in July.
The dispute adds political friction to a bill already under pressure: CLARITY Act Senate passage odds have fallen to 48% on Polymarket, with Senator Lummis warning that missing the August recess deadline pushes the timeline to 2030. The CLARITY Act is the most consequential pending legislation for XRP, as it would classify XRP as a commodity under CFTC oversight, removing SEC jurisdiction uncertainty that has weighed on the token since 2020.
Ripple Secures MiCA CASP License in Luxembourg Ripple received preliminary approval for a Crypto Asset Service Provider license from Luxembourg’s CSSF under the EU’s MiCA framework on June 23, paving the way for expanded European services.
The CASP authorization enables regulated crypto-asset services across all 30 EEA countries. Ripple now holds over 75 regulatory licenses worldwide, and the Luxembourg approval places it among approximately 210 MiCA-compliant firms — a group that does not include Binance, whose application is facing potential rejection.
The license is structurally positive for Ripple’s payments business and RLUSD adoption across Europe, though it does not create a direct spot buying mechanism for XRP itself.
MiCA July 1 Deadline: XRP Positioned to Benefit The EU’s MiCA regulation transition period ends July 1, 2026. Over 3,000 crypto firms were registered across Europe in 2024; as of May 2026, only 194 had secured MiCA licenses. Around 75% of pre-MiCA providers are expected to lose their registration status when the deadline hits.
Ripple’s early compliance positions XRP and RLUSD to capture payment volume migrating away from non-compliant platforms after July 1.
XRP Spot ETF Inflows: Seven Consecutive Weeks Despite the price decline, XRP spot ETFs recorded another $5.31 million in net inflows on June 22, extending a seven-week streak of institutional accumulation. Cumulative XRP ETF inflows have now exceeded $1 billion since launch in November 2025, reflecting sustained institutional demand even as spot prices remain under pressure.
FAQ What is XRP’s price today, June 25, 2026?
XRP is trading at $1.0837 on June 25, 2026, after touching an intraday low of $1.0462. The token is down 1.42% over 24 hours and roughly 10% over the past week. Price is below MA(7) at $1.0754, MA(25) at $1.1109, and MA(99) at $1.1467, reflecting a bearish short-term structure. The $1.00 psychological level is the next major support if $1.0462 fails on a closing basis.
Why is XRP falling in June 2026?
XRP’s June 2026 decline reflects several factors: the Fed’s hawkish June 17 FOMC stance, falling CLARITY Act Senate passage odds from 74% to 48% on Polymarket, law enforcement pushback against Section 604 of the bill, and broad crypto market selling triggered by Bitcoin’s retest of its $59,102 cycle low. XRP is one of the most exposed assets to CLARITY Act news given that bill passage is the primary catalyst for its regulatory re-rating.
What is the CLARITY Act and why does it matter for XRP?
The Digital Asset Market Clarity Act would classify XRP as a commodity under CFTC jurisdiction, removing SEC oversight uncertainty that has weighed on the asset since 2020. Passage odds currently stand at 48% on Polymarket. Four law enforcement groups challenged Section 604 of the bill on June 23; the DOJ responded on June 24, calling their claims factually inaccurate. Senate negotiators are targeting a July floor vote window.
What did Ripple’s Luxembourg MiCA license mean for XRP?
Ripple received a preliminary Crypto Asset Service Provider license from Luxembourg’s CSSF on June 23, enabling regulated operations across all 30 EEA countries under the MiCA framework. The license strengthens Ripple’s payments business and RLUSD adoption in Europe but does not directly increase spot demand for XRP. It positions Ripple among a small group of fully compliant firms ahead of MiCA’s July 1, 2026 deadline.
What is XRP’s all-time high?
XRP’s all-time high is $3.65, reached during the 2025 bull cycle. As of June 25, 2026, XRP trades approximately 70% below that record. The current cycle low is $1.0462, printed intraday on June 25.
BitMEX co-founder Arthur Hayes has suggested that Zcash (ZEC) could eventually reach 10% of Bitcoin’s market capitalization, a long-term bullish thesis on privacy coins rather than a near-term price forecast. Based on ZEC’s circulating supply of around 16 million tokens, that scenario would imply a price in the high four-figure range, roughly $8,000–$10,000, depending on Bitcoin’s valuation.
A Chart Pattern Worth Watching On the technical side, traders point to a possible cup-and-handle pattern, but this is a subjective chart formation with no guarantee of outcome. Resistance is often cited around $625–$650, with some speculative projections suggesting a move toward $1,000, though this depends heavily on broader market conditions and is not a confirmed target.
The target also lines up with ZEC’s 1.618 Fibonacci extension, drawn from a $745 swing high down to a $185 swing low.
Privacy Coins Pull Ahead ZEC is not moving alone. Monero and Dash, both privacy-focused tokens, have also posted gains over the past month. But Zcash leads the pack. Reports indicate the coin climbed more than 80% in 30 days while the total crypto market cap barely moved — up just 0.2% over the same stretch.
ZEC market cap currently at $9.6 billion. Chart: TradingView $ZEC update
This thing is running its own bull market rn… gg
I closed my short. Especially with $BTC sitting on support around $76k
Even a small pump in Bitcoin makes ZEC go absolutely stupid right now https://t.co/xLs6ficv7l pic.twitter.com/obAhbnXqfp
— SnorlaX お金 (@SnorlaxOnChain) May 18, 2026
In the past three days alone, ZEC added 18% as the broader market slipped 3%. That split has prompted some traders to say Zcash is running its own bull market. Growing demand for financial privacy appears to be the main force behind the move, pulling fresh interest into a coin that had been largely overlooked for years.
Institutional Interest Adds Fuel Earlier in May, hedge fund Multicoin Capital disclosed it holds a position in ZEC. Around the same time, Robinhood added the token to its platform, opening it up to a wider pool of retail investors.
Both developments landed at a time when the privacy narrative was already building. Hayes’s comment added another layer. His estimate was speculative — based on a market cap comparison to Bitcoin — but it drew attention and, according to data, ZEC’s value in Bitcoin terms has risen about 20.5% since he made the remark.
Whether the cup-and-handle plays out or not, the coin has already proven it can move on its own terms.
Featured image from Quicknode, chart from TradingView
Bitcoin fell to $62,000 as a broader macro-driven sell-off swept through risk assets, with the U.S. dollar climbing to multi-month highs.
Investors are now focused on Thursday’s PCE inflation report, a key indicator for future Federal Reserve policy.
Notable Statistics:
Coinglass data shows 137,225 traders were liquidated in the past 24 hours for $649.88 million. SoSoValue data shows net outflows of $68.2 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net outflows of $66 million. In the past 24 hours, top gainers include DeXe, Audiera and Algorand. Notable Developments:
Trader Notes:
Crypto analyst Kevin expects one final major Bitcoin correction between July and October, aligning with a broader bearish roadmap.
The projected decline would clear long-position liquidity, fulfill the bear flag’s measured move target, test key moving averages and the 0.5 Fibonacci retracement level, potentially marking the cycle bottom before a recovery begins.
Crypto chart analyst Ali Martinez identifies the $60,000–$63,000 range as Bitcoin’s most important support zone, with more than 1.3 million BTC transacted there, making it the largest on-chain volume cluster.
Holding above $60,587 would preserve the current trend, while a breakdown could expose downside targets near $46,700 and potentially $37,900, where significant historical buying activity occurred.
Image: Shutterstock
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In brief Bitcoin fell to its lowest point in 21 months, dragging down leading altcoins and crypto stocks with it. The weakness appears to be linked to a risk-off move in semiconductor and AI stocks, analysts said. As XRP fell, it risked slipping below $1 for the first time since just after President Trump's reelection. Investors continued to dump digital assets on Wednesday, aggravating a sell-off that pushed Bitcoin’s price to its lowest point in 21 months.
The leading digital asset by market cap fell as low as $59,2175 before firming to $60,700, a 2.7% decrease over the past 24 hours, according to CoinGecko. The performance echoed signs of pressure on Wall Street and put Bitcoin on track for its third straight daily decline.
As the original cryptocurrency plunged, so too did various altcoins, with Ethereum showing a 3.1% decline to $1,610. XRP and Solana also wavered, falling 3.1% to $1.07 and 2.6% to $67, respectively. Dogecoin dropped 4.6% to 7.5 cents over the same period.
For XRP, the slump threatened to push the digital asset under $1 for the first time since shortly after President Donald Trump’s 2024 reelection win. For Dogecoin, the fall earlier Wednesday thrust the first meme coin to its lowest levels since late 2023.
“Days like today are undoubtedly painful,” Juan Leon, senior investment strategist at crypto asset manager Bitwise, told Decrypt. “But step back. We’ve seen this movie before.”
Leon noted that pronounced drawdowns in crypto prices have felt thesis-breaking in the moment, but the technology continues to be adopted as a modern form of market plumbing.
He said that a risk-off move hitting AI and semiconductor stocks was affecting a market for digital assets that’s already depressed, adding, “This bear market shall pass, and crypto will come out stronger on the other side.”
The weakness preceded a refresh of the Federal Reserve’s preferred inflation measure, with economists anticipating the Personal Consumption Expenditures index to show a 4.1% annual increase in consumer prices on Thursday, accelerating for a third consecutive month.
Following hawkish remarks from Fed Chair Kevin Warsh a week ago, analysts say investors are digesting expectations of tighter monetary policy, which typically weighs on risk assets. The Fed was projected to raise rates at its meeting in September, per CME Watch.
Amid lackluster price action, it appears some traders have grown less engaged, according to a note shared by Jasper De Maere, an OTC trader at crypto trading firm Wintermute.
“Flows are suggesting traders have started going into summer recess,” he wrote. “It’s possible we’ll consolidate at these levels, at the mercy of the equity market which has the potential to pull crypto down alongside it in case of a further risk-off rotation.”
Although a 0.4% decline in the Nasdaq was led by Micron Technology before the firm announced earnings, the chipmaker’s losses were outpaced by crypto-native firms.
Bitcoin treasury giant Strategy plunged 9% to $94.43 after bouncing off a 27-month low of $92.28, a move that intensified scrutiny on its flagship preferred stock, Stretch (STRC), which notched new lows Wednesday following a record drop last Thursday. Coinbase’s stock price fell 5% to $150.11, while Robinhood shares slid 5.8% to $97.21 apiece.
BitMine, the largest corporate holder of Ethereum, saw shares plunge 7.4% to $14.01, hitting their lowest level since the firm dedicated itself to accumulating the digital asset a year ago. (Disclosure: BitMine Chairman Tom Lee is an investor in Dastan, Decrypt’s parent company.)
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In brief Bitcoin fell to its lowest point in 21 months, dragging down leading altcoins and crypto stocks with it. The weakness appears to be linked to a risk-off move in semiconductor and AI stocks, analysts said. As XRP fell, it risked slipping below $1 for the first time since just after President Trump's reelection. Investors continued to dump digital assets on Wednesday, aggravating a sell-off that pushed Bitcoin’s price to its lowest point in 21 months.
The leading digital asset by market cap fell as low as $59,2175 before firming to $60,700, a 2.7% decrease over the past 24 hours, according to CoinGecko. The performance echoed signs of pressure on Wall Street and put Bitcoin on track for its third straight daily decline.
As the original cryptocurrency plunged, so too did various altcoins, with Ethereum showing a 3.1% decline to $1,610. XRP and Solana also wavered, falling 3.1% to $1.07 and 2.6% to $67, respectively. Dogecoin dropped 4.6% to 7.5 cents over the same period.
For XRP, the slump threatened to push the digital asset under $1 for the first time since shortly after President Donald Trump’s 2024 reelection win. For Dogecoin, the fall earlier Wednesday thrust the first meme coin to its lowest levels since late 2023.
“Days like today are undoubtedly painful,” Juan Leon, senior investment strategist at crypto asset manager Bitwise, told Decrypt. “But step back. We’ve seen this movie before.”
Leon noted that pronounced drawdowns in crypto prices have felt thesis-breaking in the moment, but the technology continues to be adopted as a modern form of market plumbing.
He said that a risk-off move hitting AI and semiconductor stocks was affecting a market for digital assets that’s already depressed, adding, “This bear market shall pass, and crypto will come out stronger on the other side.”
The weakness preceded a refresh of the Federal Reserve’s preferred inflation measure, with economists anticipating the Personal Consumption Expenditures index to show a 4.1% annual increase in consumer prices on Thursday, accelerating for a third consecutive month.
Following hawkish remarks from Fed Chair Kevin Warsh a week ago, analysts say investors are digesting expectations of tighter monetary policy, which typically weighs on risk assets. The Fed was projected to raise rates at its meeting in September, per CME Watch.
Amid lackluster price action, it appears some traders have grown less engaged, according to a note shared by Jasper De Maere, an OTC trader at crypto trading firm Wintermute.
“Flows are suggesting traders have started going into summer recess,” he wrote. “It’s possible we’ll consolidate at these levels, at the mercy of the equity market which has the potential to pull crypto down alongside it in case of a further risk-off rotation.”
Although a 0.4% decline in the Nasdaq was led by Micron Technology before the firm announced earnings, the chipmaker’s losses were outpaced by crypto-native firms.
Bitcoin treasury giant Strategy plunged 9% to $94.43 after bouncing off a 27-month low of $92.28, a move that intensified scrutiny on its flagship preferred stock, Stretch (STRC), which notched new lows Wednesday following a record drop last Thursday. Coinbase’s stock price fell 5% to $150.11, while Robinhood shares slid 5.8% to $97.21 apiece.
BitMine, the largest corporate holder of Ethereum, saw shares plunge 7.4% to $14.01, hitting their lowest level since the firm dedicated itself to accumulating the digital asset a year ago. (Disclosure: BitMine Chairman Tom Lee is an investor in Dastan, Decrypt’s parent company.)
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Bitcoin dropped below $60,000 on Wednesday before a slight recovery amid a sell-off in semiconductor shares.
Notable Statistics:
Coinglass data shows 107,733 traders were liquidated in the past 24 hours for $433.38 million. SoSoValue data shows net outflows of $113.8 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net outflows of $82.4 million. In the past 24 hours, top losers include Audiera, Venice Token and Pump.fun. Notable Developments:
Trader Notes:
Crypto trader Altcoin Sherpa remains uncertain about Bitcoin’s next move but warns that losing the current support level could open the door to a decline toward $54,000.
Trader KillaXBT admits the bullish thesis may be failing but notes that market bottoms are typically marked by volatile, liquidity-hunting price action that shakes out traders. He suggests focusing on long-term Bitcoin accumulation and ignoring short-term noise.
Technically, $59,000 remains the key level. A break below that wick low would require a strong reclaim to restore a bullish outlook.
CoinBureau founder Nic Puckrin warns that Bitcoin is losing a major technical support zone after falling below its 200-week SMA and nearing the $60,000 level.
A weekly close below this area could signal further weakness and open the door to a decline toward $57,900, marking it to be a new cycle low.
Image: Shutterstock
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Kalshi is reportedly revisiting a new capital raise that would value the company at some $40 billion. This move hinges on the swift growth of the regulated event-contract trading space in the United States.
Kalshi Looks To Raise Funds At $40 Billion Valuation The New York-based company is in talks to raise additional funds from investors and may raise new money as soon as the third quarter of 2026, according to a Financial Times report. Negotiations are still underway, and the exact amount of the valuation or fundraising has not been made public.
The fundraising effort follows a huge investment round that had Kalshi valued at $22 billion with an investment of $1 billion just weeks ago. This valuation was an even larger jump from $11 billion that was reported in late 2025 and around $5 billion earlier this year. The latest reports come amid Kalshi debuting perpetual futures tied to Near, Zcash, Shiba Inu, and Dogecoin.
With the valuation of the company increasing, so has the interest of investors in it. The previous rounds saw investment from leading companies such as Sequoia Capital, Andreessen Horowitz, Coatue Management and Morgan Stanley.
However, Kalshi has yet to comment on the latest fundraising talks.
Surge In Trading Volume Despite Competition Since prediction markets have grown beyond the realm of politics, Kalshi has registered massive growth in user activity. Contests can be based on real-world outcomes like the performance of the economy, the weather, a sporting event or the financial markets.
Kalshi’s trading volume has skyrocketed since last year. The report quoted data indicating that the volume has hit above $17 billion per month. It marks a major increase from the figure of less than $5 billion a year ago. The platform’s primary business is sports betting and multi-event wagering is a growing preference among its users.
However, due to the growing market share, the company has also faced competition from existing financial market players due to its growth. For context, derivatives giant CME Group lost its bid to become the first U.S. exchange to launch crypto-related perpetual futures last month.
Thereafter, CME Group filed a lawsuit against the U.S. Commodity Futures Trading Commission over its approval of Kalshi’s products. At the time, the prediction market platform had launched Bitcoin, Ethereum, XRP, and Solana perps. The contracts are similar and are meant to compete with products that are already available in traditional futures markets, CME says.
For those looking for new crypto launches, visit our page on Crypto ICOs.
Leading cryptocurrencies retreated further on Wednesday as investors awaited the crucial inflation report for guidance on the direction of interest rate cuts.
Crypto Bloodbath ContinuesBitcoin fell below $60,000 for the first time since October 24, as trading volume popped 40% over the last 24 hours. The apex cryptocurrency is now down more than 51% from its record highs.
Ethereum fell to an intraday low of $1,550 before paring some of its losses overnight. XRP and Dogecoin also traded in the red.
Nearly $1 billion was liquidated from the cryptocurrency market in the last 24 hours, with $800 million in bullish long positions alone wiped out, according to Coinglass data
Bitcoin’s open interest rose 0.37 over the last 24 hours. An increase in open interest, alongside a drop in spot price, typically signals that new short sellers are entering the market, hoping for the decline to continue.
"Extreme Fear" sentiment intensified, returning to levels seen earlier this month, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.09 trillion, representing a 2.74% decline over the last 24 hours.
Stocks Fall AlongsideStocks extended their slide on Wednesday. The S&P 500 fell 0.10% to end at 7,358.22, while the tech-heavy Nasdaq Composite dipped 0.43% to settle at 25,476.6. The Dow Jones Industrial Average was the outlier, rallying 182.06 points, or 0.35%, to end at 51,848.90.
Investors will closely watch Thursday’s Personal Consumption Expenditures price index report, considered the Federal Reserve’s preferred measure of inflation, for guidance on the central bank’s interest rate policy.
The CME Group’s FedWatch tool showed markets pricing a 50% likelihood of the Fed increasing rates during the September meeting.
Why This Level Is A ‘Battleground’ For BTCRekt Capital, a widely followed cryptocurrency analyst and trader, warned that Bitcoin’s daily close below the red-shaded band, around $60,000, and a subsequent bearish retest could confirm further downside.
On-chain analytics firm CryptoQuant highlighted that Bitcoin’s drop below $60,000 triggered a “new wave of panic” among some investors, prompting them to move their BTC back to exchanges, representing “persistent” short-term selling pressure.
“The $60,000 level has gradually become a genuine battleground, where the confrontation between weak hands and strong hands is at its most intense,” the firm added.
Photo: Sodel Vladyslav / Shutterstock
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In a report published last year, the well-known American magazine Forbes described 20 altcoins as zombies, including XRP, Cardano (ADA), Litecoin (LTC) and Ethereum Classic (ETC).
Forbes claimed that these altcoins failed to meet traditional metrics of success, exhibiting minimal utility and user adoption.
XRP and Ripple Experienced Major Changes! Ripple and XRP topped Forbes' list of “zombie blockchain” projects despite having billion-dollar valuations in early 2024. Forbes claimed that Ripple and XRP had little real-world use.
However, Forbes has undergone a major shift. At this point, Forbes has significantly shifted its stance on XRP and Ripple.
Forbes recently called Ripple's transformation a “$180 billion reinvention” driven by acquisitions, regulatory clarity, and growing institutional interest in XRP.
“Ripple, a blockchain payments company that hasn't really done much business for a long time, is finally on its way to a legitimate, multi-billion dollar crypto empire after escaping an SEC lawsuit,” the report said.
According to Forbes, Ripple has now become part of the rapidly growing digital asset treasury trend, as several top companies have recently announced treasury plans for XRP.
The most notable of these companies was Evernorth, which aims to raise more than $1 billion in funding.
Forbes also noted that XRP has gained 366% in value over the past year, bringing its market capitalization to over $150 billion. It also noted that the renewed demand for XRP isn't solely due to speculation.
Forbes attributed the transformation of XRP and Ripple to regulatory clarity, institutional adoption, and a $125 million SEC settlement. It also described Ripple as a consolidated financial services conglomerate, rather than a struggling payment token issuer.
*This is not investment advice.
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Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.
Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."
8 minutes ago
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
The team behind the Midnight Network has launched the claim portal for the Glacier Drop, opening up the first phase of the NIGHT token distribution.
Following the launch, 33.6 million eligible addresses across eight major blockchains can now claim their free NIGHT tokens on the portal. The supported blockchains include XRP Ledger, Cardano, Solana, Bitcoin, BNB, Ethereum, Basic Attention Token, and Avalanche.
Notably, the Glacier Drop portal went live just a day after Cardano founder Charles Hoskinson teased its launch in a cryptic tweet. It was captioned “tomorrow kids” and was accompanied by a GIF, which reads “So it begins.”
Expectedly, the post elicited several reactions, with users suggesting that the team was preparing to launch the Glacier Drop claim portal. Interestingly, the portal has gone live, enabling eligible users to claim their NIGHT tokens.
BREAKING: Midnight has opened the claim portal for the Glacier Drop 🔥
A free $NIGHT token distribution is now live for 33.6 million eligible addresses across $ADA, $BTC, $ETH, $XRP, $SOL, $BAT, $BNB, and $AVAX.
Cardano $ADA holders are eligible for the largest share. pic.twitter.com/itxmHygKpG
— Cardanians (CRDN) (@Cardanians_io) August 5, 2025
How to Claim NIGHT Users can claim their tokens in four steps. The first step involves visiting the claim portal and connecting the “origin address.” It is worth noting that the origin address is the same as the one that qualified for the airdrop.
Upon connecting this address, users can provide a destination address to receive the free NIGHT allocations. To complete the claim, users must accept the terms and conditions and also sign the transactions.
Phases of NIGHT Airdrop The Glacier Drop, which is the first phase of the claim, will last 60 days. Once this phase ends, the Scavenger Mine–the second phase–will commence immediately for the next 30 days.
During this phase, users are required to complete computational tasks to earn a share of unclaimed tokens. Eligible users who missed the Glacier Drop will be presented with another opportunity to claim their tokens in a subsequent phase dubbed Lost-and-Found. Any unclaimed tokens after this event will be allocated to the Midnight treasury.
ADA Holders Remain Biggest Gainers Although the Glacier Drop supports addresses from major blockchains, Cardano users will receive the lion’s share. As previously reported, 50% of NIGHT’s token supply, equivalent to 12 billion tokens, is reserved for ADA holders. 20% of the supply, translating to 4.8 billion tokens, will be allocated to eligible users on the Bitcoin network.
The remaining 30% supply, or 7.2 billion NIGHT, will be split among Avalanche, XRPL, Solana, Basic Attention Token, BNB, and Ethereum users.
According to sources, Over 33 million addresses are eligible for claims:
ADA: 1,072,307
BTC: 17,562,278
XRP: 2,213,942
ETH: 7,862,092
SOL: 3,465,122
BNB: 1,213,677
AVAX: 227,793
BAT: 24,605
Users’ individual holdings of eligible tokens at the time of the snapshot will determine the amount of tokens they will receive.
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.
Analyst Oscar Ramos is doubling down on his bullish stance for XRP, warning that many will come to regret not going all-in on the asset.
This follows his earlier statement from two weeks ago, in which he urged investors to prioritize XRP amid shifting market momentum. Since that call, XRP has surged by more than 50%, validating his conviction.
XRP Surged 52.5% in Two Weeks Specifically, Ramos first advised making XRP a portfolio priority on July 10, just before the market’s latest breakout phase. At the time, Bitcoin had pushed to new highs and was helping to lift the broader altcoin market. XRP, benefiting from multiple positive developments, emerged as one of the top performers.
Since that tweet, XRP has rallied from around $2.40 to a high of $3.66 on July 18, a 52.5% gain in just two weeks. As of now, XRP is consolidating and trading at $3.49, still holding onto most of its gains, with a modest 0.85% increase in the past 24 hours.
Why the Rally Has Legs Notably, Ramos’ thesis is grounded in key factors beyond hype. His earlier tweet came amid a series of positive developments surrounding XRP’s ecosystem. These include Ripple’s push for institutional integration, the growing relevance of the RLUSD stablecoin, and mounting ETF speculation.
One major development was Ripple naming BNY as the official custodian for RLUSD, the XRP Ledger’s native stablecoin. The partnership aims to accelerate institutional adoption by linking traditional banking with blockchain infrastructure.
RLUSD, which uses XRP to settle fees, has also surpassed TrueUSD and Tron’s USDD, with a market cap exceeding $532 million.
XRP ETF Momentum and Whale Accumulation XRP also saw a flurry of ETF-related announcements during the same two-week period. ProShares was set to launch multiple futures-based XRP ETFs on July 14. Turtle Capital and Volatility Shares planned to follow with 2X leveraged versions on July 21.
As of press time, these products have not yet commenced trading. Their eventual launch would represent a major step toward making XRP more accessible to institutional investors, even as the SEC continues to delay decisions on more than ten pending spot XRP ETF filings.
Meanwhile, large holders are acting accordingly. Data from Santiment shows that the number of wallets holding at least one million XRP has reached record levels. These whales control more than 47 billion XRP.
Retail investors are also joining the trend. More recent data from Santiment shows that XRP’s climb coincided with the creation of 6,939 new wallets in a single day in July, the highest since March.
Also, Social media buzz has surged, with XRP capturing 5.5% of all crypto-related discussions, reflecting heightened retail interest.
“People Will Regret It,” Says Ramos For market watchers like Ramos, not prioritizing XRP amid this lineup of bullish factors could prove to be a major regret for crypto investors.
Indeed, some leading industry voices like Dave Portnoy are already publicly expressing remorse for fading XRP. Portnoy disclosed that he liquidated a $3 million XRP portfolio just before the coin surged by 60%.
However, not everyone agrees with focusing on a single crypto during this bull run. For instance, X user Nina argued that investors should avoid overexposing themselves to one asset and instead plan their strategies to mitigate risk.
Whether it is XRP or other cryptocurrencies, you should not invest all your money in one, you need to plan a strategy to avoid risks.
— NINA (@nina_NNLV) July 22, 2025
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.
