The UK government has assembled a 54-member industry task force to advance the adoption of tokenization within the country’s wholesale financial markets. The group brings together major crypto firms including Circle, Ripple, and Coinbase alongside leading global financial players such as BlackRock, Goldman Sachs, J.P. Morgan, and Morgan Stanley.
Task force goals and structureChris Woolard, who took on the role of HM Treasury’s Wholesale Digital Markets Champion in April 2026 after serving as interim chief executive of the Financial Conduct Authority (FCA), introduced the task force in his first official report to Chancellor Rachel Reeves on July 13. The City of London Corporation is coordinating the task force, working with organizations such as TheCityUK, UK Finance, the Investment Association, and Innovate Finance.
The task force aims to build and deliver live, end-to-end use cases, starting with tokenized repo transactions over the next 12 months. Nine action groups within the task force will establish standards across priority segments of the market value chain.
The investor-oriented division of the City of London Corporation, The Global City, indicated that the first live trial of the repo use case is expected by spring 2027, with expansion to commodities and other asset classes under consideration later in the year.
Integration of crypto and traditional financeThe task force’s extensive roster goes beyond Wall Street institutions. Included on the stakeholder list are crypto and blockchain companies such as Circle, Ripple, Coinbase, Kraken’s Payward entity, Chainalysis, Fireblocks, Ctrl Alt, Digital Asset Holdings (the team behind the Canton Network), GFO-X, Ubyx, SLIX, Tokenovate, and Wintermute.
These firms will work alongside major financial institutions like HSBC, Barclays, UBS, Citi, State Street, the London Stock Exchange Group, and DTCC.
By bringing stablecoin issuers and cryptocurrency exchanges together with established banking giants, the initiative seeks to bridge the traditional and digital financial infrastructure often viewed as competitors.
Kirit Bhatia, chief digital assets officer at Banking Circle, noted that “the harder problem is plumbing, not issuance,” adding that payment infrastructure must support real-time settlement, cross-border movement, regulated money forms, and interoperability among stablecoins, tokenized deposits, and fiat payment systems.
Bhatia emphasized that “without it, digital assets risk becoming faster at the edges but still constrained by the legacy plumbing underneath.”
Mini dictionary: Tokenized repo, a form of repurchase agreement transaction that uses blockchain technology to tokenize the securities and cash flows, aims to improve speed, transparency, and efficiency compared to traditional repo markets.
Economic impact and projectionsWoolard’s report references a forecast from Boston Consulting Group that projects the tokenized real-world asset market could reach $88 trillion by 2035, compared to approximately $3 trillion in the current crypto and stablecoin market.
MetricCurrent Value (2026)Projected Value (2035)Total crypto and stablecoin market$3 trillion–Tokenized real-world asset market–$88 trillionUK additional annual economic output–£33 billionUK annual tax revenue–£14 billionFor the UK, the report anticipates a potential annual economic boost of up to £33 billion and an additional £14 billion in annual tax revenue by 2035.
Woolard characterized the competition between regions as “a network game” and cautioned that the UK’s leadership in the digital asset sector is not guaranteed. He suggested that the country “must move at the speed of the most agile players.”
Chancellor Rachel Reeves said that maintaining the UK’s lead in global finance will require “harnessing technologies like tokenisation,” while City of London Corporation Policy Chairman Chris Hayward described the initiative as an opportunity to “lead a digital Big Bang in financial services.”
Next steps for the initiativeThe task force’s work builds on previous projects, including DIGIT, the UK’s Digital Gilt instrument, a tokenized form of government bond. The first DIGIT is projected to launch in the first quarter of 2027 within the Bank of England and FCA’s Digital Securities Sandbox.
Feedback on Woolard’s report is open until September 4, 2026. Final membership for the nine action groups is scheduled to be confirmed by the end of September, with a second report to the Chancellor set for July 2027.
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 CEO Brad Garlinghouse says his company holds a substantial amount of XRP and cares deeply about the token’s future, but he draws a hard line when it comes to control. Speaking at the KU School of Business, Garlinghouse explained why he believes XRP was never the kind of asset the SEC accused it of being.
No company, no control
Garlinghouse says XRP looks more like Bitcoin than a security tied to a company. Unlike Ripple’s own shares, which came from private funding rounds in 2012, 2015, and 2016, XRP carries no ownership stake in the business. “There’s Ripple, cares about a lot. We own a lot of XRP, but we can’t control it because it’s open source,” he said.
That distinction sat at the center of the SEC’s 2020 lawsuit, which accused Ripple of selling unregistered securities. Garlinghouse pushed back hard on the characterization, arguing that XRP functions nothing like traditional company stock. “That’s owning Apple stock,” he said of what a real security looks like. “It wasn’t even close.”
Meetings that never raised a red flag
Garlinghouse met the SEC four times between 2017 and 2019 without a lawyer once. He said he saw no need for legal representation at the time, since he was simply explaining how Ripple’s technology worked. Not once, he said, did anyone at the agency warn him that XRP might be classified as a security.
That silence became a sore point once the lawsuit landed. The SEC sued both Ripple and Garlinghouse personally in 2020, tied to XRP he had sold as an individual. He called the timing distasteful, and even unethical, especially after the agency later offered to drop his personal case while continuing to pursue the company. The SEC agreed to drop his own case but not the one filed against Ripple itself.
A costly fight, and a shift after 2020
That four year legal fight with the SEC cost Ripple roughly $150 million. Ripple ultimately won the case, though the agency’s leadership at the time signaled plans to appeal. Garlinghouse said the environment shifted after a new SEC chair took office, one he described as far more constructive toward the crypto industry.
He tied the entire episode back to a broader argument he has made for years: that most people in crypto want clear rules, not a fight after the fact.
Story Ends Here
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XRP (CRYPTO: XRP) attorney John Deaton on Sunday said the SEC sued Ripple executives individually to force a faster settlement, calling it a deliberate intimidation campaign that reached their families.
How Far Did The SEC’s Intimidation Tactics Actually Go?Deaton argued on X that former SEC Chair Jay Clayton explicitly stated in a prior interview that suing individual executives, even in non-fraud cases, gives the government settlement leverage over the company.
“When the full weight and force of the United States Government comes after you, I don’t care who you are — it can be quite intimidating,” Deaton wrote. “That’s why Clayton did it.”
Prosecutors attempted to subpoena every credit card and bank statement belonging to Brad Garlinghouse and co-founder Chris Larsen, including records from their wives and family members, despite both executives having already handed over every XRP transaction ever made.
The judge shut that request down.
Deaton identified those same prosecutors as the team an appellate court later described as “arbitrary and capricious” and the same lawyers sanctioned in the Debt Box case for committing fraud upon the court.
The SEC complaint was drafted in a fraud-like style despite the agency never alleging fraud, a tactic Deaton said was designed to pressure the defendants into settling.
The same team lied to the court, claiming Deaton had threatened to beat up SEC staff, and asked the court to bar him from serving as amicus counsel on behalf of 75,000 XRP holders.
However, Garlinghouse and Larsen refused to settle through all of it, winning the case with those 75,000 holders behind them.
From Delisted To Institutional: How XRP Survived The SECRipple fought through four years of litigation and roughly $150 million in legal fees. A federal judge ultimately ruled that XRP itself was not a security and that programmatic sales on exchanges did not constitute securities transactions.
CEO Brad Garlinghouse revealed last week that Ripple had come close to shutting down entirely and distributing its XRP holdings to shareholders before choosing to fight.
Ripple has since secured licenses across multiple jurisdictions and expanded its U.S. operations, with banks actively building on its payments infrastructure.
XRP Price Update: Key Levels to WatchWhale activity on the XRP Ledger dropped sharply as crypto analyst Ali Charts noted on Monday.
Transactions worth more than $1 million fell from 70 over the past week to just 2 on Monday.
XRP is sitting below its 20-day EMA at $1.1044 and 50-day EMA at $1.1606. Meanwhile, buyers have repeatedly defended the $1.03 to $1.05 support zone, but the falling trendline keeps producing lower highs.
Key levels for XRP: $1.03 — losing this on a daily close confirms a breakdown and opens $1, then $0.95 $1.10 — first level XRP needs to reclaim to break the descending trendline Image: Shutterstock
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Ripple CEO Brad Garlinghouse recently shared that in the wake of the US Securities and Exchange Commission’s (SEC) 2020 enforcement action, he and co-founder Chris Larsen carefully evaluated shutting down the organization and allocating its extensive XRP reserves directly to equity holders. This alternative would have involved winding up operations and transferring tokens on a proportional basis before formally dissolving the entity.
Speaking to a live audience of students and alumni, Garlinghouse described the period as one filled with profound uncertainty.
He characterized the dissolution route as potentially the less complicated choice when squaring off against a regulatory body possessing seemingly unlimited resources and authority.
By eliminating the corporate defendant and redistributing holdings, the company could have left the lawsuit without a target, effectively concluding the matter.
The plan under discussion centered on Ripple’s substantial XRP treasury.
Distributing these assets to shareholders proportionally and ceasing business activities would have removed any ongoing corporate involvement with the token in a legal sense.
This approach reflected the intense pressure the firm faced amid allegations concerning unregistered securities offerings.
Despite the appeal of an immediate resolution, the leadership team ultimately decided against it.
Garlinghouse noted that closure would have resulted in significant job losses for hundreds of employees, an outcome viewed as undesirable even if strategically simpler at the time.
Instead, Ripple committed to a full legal defense, investing substantial resources—approximately $150 million—over several years while navigating an unpredictable regulatory landscape.
This perseverance yielded important milestones. A notable 2023 court decision established that XRP does not constitute a security when sold on secondary markets.
The dispute reached resolution in 2025 through a settlement that included a $50 million civil penalty and limitations on future institutional sales practices.
These developments provided much-needed regulatory clarity for the firm and the broader digital asset sector.
Garlinghouse’s reflections, shared during an engaging discussion at his alma mater, highlight the personal and professional challenges inherent in pioneering blockchain-based financial solutions.
The choice to fight preserved talent, sustained innovation in cross-border payments, and allowed the company to secure numerous international licenses.
Ripple has since advanced initiatives around tokenization, stablecoins, and enterprise blockchain applications, demonstrating resilience forged through adversity.
The disclosure offers valuable insight into decision-making during one of crypto’s most scrutinized regulatory confrontations.
It illustrates how founders balanced short-term survival options against long-term vision for industry utility and adoption.
Many in the ecosystem faced similar pressures, underscoring the high stakes of operating at the intersection of technology and evolving financial oversight.
Today, with enhanced policy direction and global partnerships, Ripple continues building infrastructure for efficient value transfer.
Garlinghouse’s account serves as a testament to strategic conviction, showing how steering through crisis can strengthen an organization’s foundation for future growth.
It also encourages the current / ongoing dialogue about balanced regulation that supports responsible innovation without stifling progress. This episode now remains a compelling case study in entrepreneurial leadership under regulatory duress, reminding stakeholders of the determination required to advance transformative financial technologies.
Ripple XRP remains above the key psychological level of $1, though analysts are watching whether buyers can sustain this threshold following a sharp drop in high-value whale transactions. The cryptocurrency has seen selling pressure ease on shorter timeframes, but broader technical signals still support a cautious view.
XRP price tests critical support zoneCurrently, XRP trades around $1.09 on Bitstamp, reflecting a modest daily gain of approximately 0.18%. Despite the minor uptick, the coin has remained under downward pressure in recent weeks, creating a fragile market outlook.
Market observers note that XRP is gradually moving closer to the $1.00 support level, a zone that acted as a significant breakout point nearly two years ago. Many traders see this area as the first meaningful line of defense where buying could return.
On the four-hour chart, attention is also focused on potential support around $0.95. Technical analysts identify an emerging ending diagonal pattern, often linked with trend exhaustion, as XRP trends lower.
@ew-forecast, a widely followed market analyst, indicated this formation may suggest selling pressure is maturing, but emphasized that the broader market structure remains bearish until a confirmed reversal appears.
XRP is gradually approaching a significant support zone near $1.00, an area which once served as the foundation for a large breakout nearly two years ago. Many traders are eyeing this level as the first meaningful support where buying interest could re-enter the market.
A persistent drop below $0.90 could invalidate near-term reversal prospects and potentially trigger a deeper price correction for XRP.
Sharp decline in whale transactions on XRP LedgerOn-chain data reveals a significant reduction in activity from large XRP holders. Santiment’s analytics, as shared by Ali Martinez, show that daily XRP Ledger transactions exceeding $1 million have plunged from nearly 70 earlier in the week to only 2 in the most recent session.
The falloff does not necessarily signal heavy selling. Instead, it highlights that major investors are currently less active in the market.
Periods marked by lower whale activity often coincide with sideways price movement or subdued volatility, but may also indicate that large holders are waiting for clearer signals before deploying capital.
Since whale wallets influence both liquidity and market sentiment, traders closely monitor such flows as potential clues to institutional moves and accumulation patterns.
Mini dictionary: Santiment, an on-chain analytics platform, provides real-time insights into cryptocurrency network activity, tracking wallet movements and transaction sizes to help investors interpret market trends.
Technical signals and trend indicatorsAccording to TradingView’s latest technical summary, XRP holds a Neutral overall rating, although the detailed breakdown leans bearish. The platform currently shows 14 Sell signals, 10 Neutral, and 2 Buy indications, with both weekly and monthly timeframes maintaining a bearish stance.
Momentum indicators are split: the Relative Strength Index (RSI) stands at 43.45 (Neutral), Stochastic %K is at 42.36 (Neutral), and the Commodity Channel Index (CCI) reads +8.11 (Neutral). The Average Directional Index is low at 14.74, and the Awesome Oscillator posts -0.018, both in Neutral territory. The only Sell among oscillators is Momentum (10) at -0.047, while the MACD (12,26) gives a Buy at -0.015.
With these readings, the market registers as directionless, though mild bearish momentum remains as RSI stays below the midpoint. The low ADX reading further points to a lack of strong trend direction.
IndicatorValueSignalRSI (14)43.45NeutralStochastic %K42.36NeutralCCI+8.11NeutralADX14.74NeutralMomentum (10)-0.047SellMACD (12,26)-0.015BuyMoving averages further highlight the challenging environment. The EMA 10 stands at $1.098, SMA 20 is at $1.087, EMA 50 at $1.161, and EMA 200 at $1.468—all above the current price, signaling a continuation of the overall downtrend. Only the Hull Moving Average (9) shows a Buy at $1.083, while the Ichimoku Base Line remains Neutral.
Moving AverageLevelSignalEMA 10$1.098SellSMA 20$1.087SellEMA 50$1.161SellEMA 200$1.468SellHull MA (9)$1.083BuyThe clustering of critical averages above the spot price points to ongoing weakness. Any upward movement is likely to face resistance unless several of these benchmarks are reclaimed.
Key price levels and outlookPivot point analysis identifies the central level near $1.128, positioning XRP below the threshold that usually signals a short-term bearish outlook. Resistance remains at $1.249 (R1), $1.459 (R2), and $1.790 (R3), with support at $0.918 (S1), $0.798 (S2), and $0.467 (S3).
LevelPricePivot$1.128Resistance 1 (R1)$1.249Resistance 2 (R2)$1.459Resistance 3 (R3)$1.790Support 1 (S1)$0.918Support 2 (S2)$0.798Support 3 (S3)$0.467Analysts continue to monitor the $1.00 to $0.95 area for signs of support, while key resistance levels cluster between $1.10 and $1.13, where moving averages converge. Although the presence of an ending diagonal hints at the possibility of decreasing selling pressure, a more optimistic outlook would only follow if XRP consistently forms higher lows and breaks above immediate resistance zones. For now, subdued whale activity, persistent bearish signals from moving averages, and a lack of clear trend leave the market in a holding pattern.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ripple [XRP] was down 2.23% in the past 24 hours, 4.24% in a week, and 6.83% over the past month. The steady price decline traces its origin back to August 2025, when the altcoin set a swing high, but not an all-time high, at $3.66 before descending.
AMBCrypto reported that the Open Interest has been in decline, showing a reluctance from derivatives traders to place directional bets. Falling exchange reserve trends were also spotted. It suggested accumulation but does not promise a quick recovery.
Low whale-to-exchange flows might be a sign of reduced selling intent from large market participants, but the price trends remained bearish. Sustained negative funding rates could be a medium-term buying opportunity, an analyst observed.
XRP price prediction- Here’s what a bullish reversal hinges on Source: XRP/USDT on TradingView The 1-day chart showed a bearish swing structure continuation in June, when the prices slipped below the February swing low at $1.11. This signaled a downward trend continuation.
The technical indicators agreed with this idea. The OBV has been moving sideways in the past six weeks as XRP prices bounced between $1.0 and $1.2.
The Awesome Oscillator was below the zero line, but did not show strong momentum in progress.
Based on the swing structure and the Fibonacci retracement levels [yellow], a bounce as high as the 78.6% retracement level at $1.529 is possible.
However, it is unclear if the bounce could go that high. Market sentiment across the crypto sphere was pessimistic. The OBV showed a lack of accumulation in recent weeks.
Absent demand meant a price drop below $1 is more likely than a recovery toward $1.5. The falling wedge pattern would need a confirmed breakout above resistance before it can be treated as a reliable reversal signal.
Traders call to action- Wait to buy Source: X In a post on X, popular technical analyst Chart Nerd pointed out that XRP’s drawdown from the cycle’s peak has not yet reached the average from previous cycles. This average came to 87%.
A bear market correction from the peak would take XRP prices to $0.44, if this average drawdown figure is met.
As things stand, XRP traders and investors need to keep an eye on $1.0, $0.85, and $0.60 as the next staunch supports.
Final Summary The dwindling Open Interest pointed to reduced speculative activity around XRP. Accumulation trends need to be backed by strong spot buying to give the altcoin a chance at recovery.
Ripple's highly regulated RLUSD stablecoin is seeing some adoption beyond payments. Recently, it helped to fund an initiative that it meant to support US businesses that are owned by military veterans and their spouses.
On Monday, nonprofit organization Hire Heroes USA announced the first 25 recipients of the grants that are part of Ripple's nationwide initiative.
The program has awarded $10,000 grants to each of 25 businesses. Recipients will also receive Hire Heroes USA's Certified Veteran Employer training, access to employer resources, and assistance with expanding operations.
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According to Hire Heroes USA, the initiative is intended to bolster veteran- and military spouse-owned businesses while creating new employment opportunities within the military community.
"Veteran and military spouse-owned businesses are a critical source of innovation, job creation, and economic opportunity," Jonathan Perri, Ripple's Director of Social Impact, said in a statement.
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Eligible businesses for the program must be at least 51% owned by a U.S. military veteran or military spouse, operate within the United States, and demonstrate a commitment to hiring veterans and military spouses over the next 12 to 18 months.
The grants are part of Ripple's broader environmental, social, and governance (ESG) and philanthropic effort.
RLUSD, which has now become one of the top regulated stablecoins, was initially introduced as an enterprise-grade stablecoin for payments and tokenized finance. However, it is now also used for funding community-focused programs.
Ripple's philanthropic efforts Ripple has donated more than $250 million globally, supporting universities, nonprofits, and social enterprises across more than 80 countries. Its programs generally focus on blockchain research, sustainability, and so on.
Last year, it pledged $25 million (mostly in RLUSD) to DonorsChoose and Teach For America. Ripple described the donation as one of the first major philanthropic programs funded with a stablecoin.
The company has also secured partnerships with Mercy Corps Ventures, Water.org, the International Rescue Committee, and Accion Opportunity Fund.
Ripple, a leading enterprise blockchain and cryptocurrency company based in San Francisco, has expanded the use of its regulated RLUSD stablecoin beyond traditional payments. In a partnership with nonprofit Hire Heroes USA, Ripple recently funded a grant program supporting U.S. businesses owned by military veterans and their spouses.
Ripple’s nationwide veteran business initiativeOn Monday, Hire Heroes USA announced the first 25 recipients of the grants, each receiving $10,000 to help grow their businesses. In addition to the financial support, the selected companies will have access to Certified Veteran Employer training, employer resources, and guidance for scaling their operations.
Hire Heroes USA, a nonprofit dedicated to empowering veterans and their families to gain civilian employment, stated that the new initiative aims to strengthen veteran- and military spouse-owned enterprises. The program also focuses on generating new job opportunities for members of the military community.
Jonathan Perri, Ripple’s Director of Social Impact, remarked that veteran and military spouse-owned businesses play a vital role in innovation, job creation, and providing economic opportunities.
To qualify for the grants, businesses must be at least 51% owned by a U.S. military veteran or military spouse, operate within the United States, and show a plan for hiring veterans and military spouses within the next 12 to 18 months.
RLUSD stablecoin’s expanding roleThe RLUSD stablecoin, launched by Ripple as a regulated, enterprise-grade digital asset, was originally designed for uses in payments and tokenized finance. In recent months, it has also served as a funding vehicle for programs with a social impact focus.
Mini dictionary: RLUSD (Ripple USD Stablecoin) — A fully regulated, US dollar-backed stablecoin developed by Ripple, designed to provide enterprise-grade security and transparency for digital payments and tokenized financial operations. RLUSD is backed one-to-one by reserves and registered with US regulatory authorities.
Ripple’s philanthropic efforts through RLUSD are part of its broader environmental, social, and governance (ESG) strategy. The firm has contributed over $250 million to global projects, partnering with universities, nonprofits, and social ventures in more than 80 countries. Its grant programs prioritize areas such as blockchain research, innovation, and sustainability.
Philanthropy, partnerships, and impactIn 2023, Ripple committed $25 million—primarily in RLUSD stablecoin—to educational organizations DonorsChoose and Teach For America. Ripple identified this as one of the earliest large-scale philanthropic initiatives to leverage stablecoins for funding.
Ripple also continues to build partnerships with international nonprofits, including Mercy Corps Ventures, Water.org, the International Rescue Committee, and Accion Opportunity Fund. These collaborations reinforce the company’s drive to apply blockchain technology and digital assets for social good, in addition to expanding its core business in payments and finance.
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.
At press time, XRP was trading at $1.06, down 3.53% in the last 24 hours and 7.54% in the past week. This made it the second-biggest loser among the top ten cryptocurrencies during that period, trailing only Hyperliquid (HYPE), which is down 6.55% in the past day.
Key factors that influenced the XRP price todaySeveral factors are to blame for this decline, the biggest being a broader market downturn as investors anticipate inflation-induced interest rate hikes. A week ago, Iran re-ignited its conflict with the US after attacking three commercial vessels off the coast of Oman. This led to the collapse of the June 17 peace memorandum, with both nations resuming strikes against each other.
As a result, oil prices are now up over 8-9% in the past 24 hours – something that typically renews macro inflation fears.
Source: oilprice.com
Notably, the US Federal Reserve attributed part of the inflation to the artificial intelligence (AI) boom at its June Federal Open Market Committee (FOMC) meeting. Just today, Fed Governor Christopher Waller warned that if tomorrow’s Consumer Price Index (CPI) reading is high, the Fed could be forced to hike interest rates.
FED AT A CROSSROADS: RATE HIKE BACK ON THE TABLE
Fed Governor Christopher Waller warned that another hot core inflation reading could force policymakers to consider raising interest rates soon.
While the US economy remains resilient, persistent price pressures from tariffs,…
— *Walter Bloomberg (@DeItaone) July 13, 2026 Fed Chairman Kevin Warsh remains slightly positive, arguing that AI could eventually boost economic efficiency, thereby creating a deflationary force in the long term.
Even more, today XRP price broke below the critical $1.07 Fibonacci support, which it had been holding for 158 consecutive days. This further fueled selling pressure, with long liquidations over the past 24 hours totaling $6.67 million, according to CoinGlass.
Technical levels to watch forWith the $1.07 price now acting as the new overhead resistance, the next support levels are the $1.00 psychological floor and the 18.75% Fibonacci level at $0.9980. The final major support line after that is the 12.50% macro retracement level at $0.7925. One analyst, however, has posted evidence of a potential 60,000% gain from a historical perspective.
Ironically, today is the 3rd anniversary of the “XRP Victory Day.” But while the community celebrates the landmark SEC ruling, selling pressures continue to overwhelm local bullish sentiment.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
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Bitcoin is trading around $62,000 on Monday as escalating U.S.-Iran military strikes triggered a broad risk-off move across global markets, pushing crypto sentiment deeper into the fear zone.
Notable Statistics:
Coinglass data shows 81,200 traders were liquidated in the past 24 hours for $326.94 million. SoSoValue data shows net inflows of $90.4 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net inflows of $18.4 million. In the past 24 hours, top losers include DeXe, Pi and Lighter. Notable Developments:
Trader Notes:
Trader KillaXBT’s best strategy is to wait for the short-term supply indicator to flip bullish rather than trading through the current sideways market.
Trader Jelle revealed that he is buying another batch of Bitcoin to increase long-term exposure in a “different week” but with “same plan.”
He plans to use the summer consolidation period to build position, anticipating the next bull run could drive BTC toward the $200,000 level.
Ted Pillows noted Bitcoin is targeting downside liquidity, with a key liquidity cluster around $62,000 that could be swept next.
If that level is cleared, attention could shift to upside liquidity between $65,000 and $66,000, making it the next potential target for a rebound.
Crypto chart analyst Ali Martinez says Bitcoin has been rejected from the upper end of its trading channel.
After losing the $63,000 mid-range support, BTC could decline toward the lower channel boundary near $61,700, where buyers may step in and provide support.
Image: Shutterstock
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The renowned American magazine Forbes has made inconsistent statements regarding cryptocurrencies. In a report published last year, Forbes labeled 20 altcoins, including XRP, Cardano (ADA), Litecoin (LTC), and Ethereum Classic (ETC), as “zombies.”
However, he now includes some altcoins, which he describes as zombie tokens, among the top 10 cryptocurrencies to invest in.
According to Forbes’ latest updates, XRP has been included in their list of the top 10 cryptocurrencies to invest in, ranking fourth after Bitcoin, Ethereum, and BNB.
Forbes states that the list was compiled based on criteria such as real-world use, market capitalization, and trading volume, and only assets with a market capitalization exceeding $5 billion were included.
Accordingly, the list includes projects such as Solana, TRON, Hyperliquid, Rain, UNUS SED LEO, and Zcash (ZEC), in addition to Bitcoin, Ethereum BNB, and XRP.
Bitcoin tops the list with its status as digital gold, while Ethereum comes in second thanks to its power in smart contracts and decentralized applications.
Forbes highlighted XRP’s role in international payments as one of its greatest strengths, noting that Ripple has forged partnerships with financial institutions, providing XRP with a practical use case that sets it apart from many other cryptocurrencies.
Conversely, it was also noted that XRP has disadvantages. The first of these was concerns about centralization, while the other was the large XRP holdings of Ripple co-founder Chris Larsen.
“…Unlike Bitcoin and other cryptocurrencies obtained through mining, XRP tokens enter circulation the moment Ripple decides to sell coins. Therefore, there are concerns about the centralized structure controlling the XRP supply.”
Ripple co-founder Chris Larsen, with a net worth ranging from $1 to $7.6 billion, owns a significant portion of XRP.
2- There are concerns about centralization due to Ripple’s control over the XRP supply.
XRP, with a market capitalization of $67 billion, is currently trading at around $1.07.
*This is not investment advice.
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Large-cap cryptocurrencies are spending much of mid-2026 moving sideways. While Bitcoin has stabilized, several leading altcoins are struggling to regain momentum as higher interest rates and cautious institutional activity keep volatility under control.
That slower environment is changing investor behavior. Instead of focusing only on established assets, many market participants are exploring earlier-stage projects where new products and ecosystems are still taking shape.
MemeToro ($MT) is one of the AI-focused presales attracting attention during this period.
XRP, Ethereum and Solana Face a Slower Market Each of these major cryptocurrencies is dealing with different challenges.
XRP started July trading close to $1.04, with buyers continuing to defend the important $1.00 psychological support level. Regulatory progress has improved sentiment compared to previous years, but price momentum remains limited.
Ethereum is also moving through a period of consolidation. Most forecasts place ETH within a broad trading range between $1,596 and $2,807, reflecting steady network activity but fewer immediate catalysts for a strong breakout.
Solana continues processing the majority of memecoin activity across the market, accounting for an estimated 60% to 70% of global memecoin volume. Even so, its price has cooled as macroeconomic conditions encourage investors to reduce exposure to higher-risk assets.
As one analyst summarized:
“Macro headwinds, shifting interest rate expectations, and a general cooling of spot ETF hype have trapped major capitals like ETH and XRP in strict consolidation. Volatility is no longer rising across the board. It is concentrating hyper-locally.”
That changing environment is encouraging investors to search elsewhere for growth opportunities.
Where Some Investors Are Looking Instead When established assets spend long periods moving sideways, capital often begins exploring projects that are still in earlier stages of development.
That does not necessarily mean abandoning large-cap cryptocurrencies.
Instead, many investors diversify by adding exposure to sectors showing stronger product development, including artificial intelligence, blockchain automation, and crypto presales.
Market researchers have observed a similar trend throughout 2026, with retail attention gradually moving toward projects that combine practical utility with earlier entry opportunities before public price discovery begins.
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The US cryptocurrency ETF market saw renewed confidence in the trading week from July 6 to July 10, with significant inflows into Bitcoin and Ethereum funds. However, spot XRP ETFs diverged from this trend, recording $7.18 million in net outflows despite the broader recovery, according to crypto analytics platform SoSoValue.
Large single-fund withdrawal ends XRP inflow streakFor nearly two months, XRP funds had attracted steady inflows, yet this trend came to a halt last week. The outflows were driven entirely by a sharp move in a single fund. Investors pulled $7.29 million from the Bitwise XRP ETF, primarily during Wednesday’s trading session on July 8. This marked the most significant capital exit from a single XRP ETF in recent weeks.
Other prominent US XRP fund issuers, including Canary, Franklin, and Grayscale, experienced no net capital movement during the same period, keeping their weekly flows neutral. The only attempt to reverse the net loss came from the 21Shares TOXR product, which recorded a comparatively modest $107,400 inflow.
Mini dictionary: Bitwise is a US-based asset manager specializing in cryptocurrency index and thematic funds, including a range of publicly traded crypto ETFs.
While investors sold heavily in the Bitwise XRP ETF, other providers such as Canary, Franklin, and Grayscale posted zero net flows for the week, highlighting the isolated nature of the XRP movement.
Bitcoin and Ethereum ETFs break losing streaksIn contrast to XRP’s weak performance, institutional investors intensified their accumulation of Bitcoin and Ethereum ETFs. Bitcoin funds attracted $197 million after eight consecutive weeks of outflows, signifying a notable shift in sentiment. Similarly, Ethereum products ended their two-month slide with $84.42 million in fresh inflows.
Investors also allocated funds to products tracking newer altcoins. HYPE-based offerings saw $10.36 million in net purchases, while Solana ETFs drew $930,400.
ETF/FundNet Inflows/OutflowsBitcoin ETFs+$197 millionEthereum ETFs+$84.42 millionXRP ETFs-$7.18 millionHYPE-based products+$10.36 millionSolana ETFs+$930,400XRP’s total assets and price remain steadyDespite outflows from the past week, the XRP fund ecosystem retains substantial capitalization. Across the seven spot XRP ETFs approved in the US, total net assets stood at $996.65 million, just under the significant $1 billion threshold. Since their launch, these funds collectively gathered $1.48 billion in net inflows, underscoring persistent investor interest over the longer term.
Amid these developments, the XRP price maintained stability, holding to a narrow trading window between $1.10 and $1.11. Analysts stated that the market’s lack of volatility suggested a period of consolidation, rather than the onset of a prolonged exit.
Market analysts noted that, despite short-term redemptions in the ETF sector, the overall XRP price remained resilient within its recent range near $1.10.
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.
XRPL validator Vet (Hussein Zangana) has argued that the XRP Ledger’s consensus mechanism is better suited for long-term sustainability than Bitcoin’s proof-of-work (PoW) model.
According to Vet, Bitcoin’s mining system was highly effective at distributing BTC in the network’s early years. However, he believes it could face economic challenges as block rewards continue to decline.
In a post on X and an accompanying video presentation, Vet compared the supply dynamics of Bitcoin and XRP. He argued that “supply distribution is only a short-term challenge, while consensus algorithms are permanent.”
Bitcoin Early Success Came With Long-Term Trade-Offs Zangana explained that Bitcoin’s PoW mechanism originally served two purposes. It secured the blockchain while distributing new BTC through mining rewards.
Bitcoin launched with a 50 BTC block reward, which halves roughly every four years. Vet noted that about 95.5% of Bitcoin’s fixed 21 million supply has already been distributed, leaving relatively little new issuance over the coming decades.
He acknowledged that PoW helped democratize Bitcoin’s early distribution because users could mine coins with relatively modest hardware. However, he argued that the system becomes more expensive and less efficient as new issuance declines.
According to Vet, Bitcoin will increasingly rely on transaction fees to incentivize miners once block rewards become negligible. He also argued that wider adoption of Layer-2 networks could reduce on-chain activity, making it harder for miners to earn enough fee revenue over the long term.
XRP Ledger Was Built for Long-Term Efficiency Meanwhile, Vet contrasted this with the XRP Ledger, which did not use its consensus mechanism to distribute XRP. Instead, the network created its entire 100 billion XRP supply at genesis, with tokens distributed over time.
Because XRPL has no mining rewards, Vet said its consensus mechanism focuses solely on validating and settling transactions. This allows for low costs, fast confirmations, and minimal transaction fees.
He argued that this approach made XRP’s early distribution more difficult. However, it also removed the long-term burden of maintaining an expensive mining incentive once token distribution is complete.
According to Zangana, Bitcoin prioritized efficient early distribution, while the XRP Ledger accepted a more challenging launch in exchange for a consensus model built for long-term operation.
Network Performance Will Matter More Than Launch History Vet also argued that future users will care less about how a cryptocurrency was originally distributed.
Whether Bitcoin relied on mining rewards or Ripple distributed XRP over time, he said most new users will judge a network by how well it works today rather than by its launch history.
He added that the XRP Ledger has grown into a mature ecosystem with numerous developers and applications. As a result, he believes it is now well positioned to benefit from its consensus design after overcoming its initial distribution challenges.
Concluding his analysis, Vet said the next five to ten years will be a key test for Bitcoin as block rewards continue to shrink and the network relies more heavily on transaction fees.
By contrast, he argued that the XRP Ledger can continue operating efficiently without facing the same structural pressures.
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.
XRP is now pushing against the upper boundary of a descending channel that has dictated its movement for the past 12 months.
At press time, XRP trades at $1.0801, leaving little room between its current price and the channel’s falling resistance line. With the trading range now squeezed to nearly nothing, the chart suggests a breakout or rejection could happen soon.
This current situation resembles the pattern that appeared before XRP climbed to $3.60 in July 2025. Once again, the asset has compressed beneath a declining trendline, and this makes the coming sessions especially important.
A Year of Selling Has Shaped the Current Trend XRP reached a high of about $3.60 in July 2025 before entering the descending channel that has guided its price ever since. From this peak, the upper trendline continued to slope lower, stopping every recovery attempt over the past year and sending the price back down after each test.
The lower trendline developed alongside it, beginning around the $2.00 area before leading XRP through the $1.50 range, then the $1.30 area, and finally toward its current level near $1.08.
The channel has remained intact from the second half of 2025 into mid-2026, contributing to a decline of more than 70% from the July 2025 peak.
XRP Descending Channel Now, XRP sits almost directly below the upper trendline. Since there is barely any gap left between the price and resistance, the chart suggests that a move may not be far away.
XRP Historical Data Before its major rally, XRP spent about 16 months moving sideways inside an accumulation range defined by a parallel channel between $0.45 and $0.75.
This period ended with a breakout in November 2024, which pushed the price to around $3.30 by January 2025. The move showed that buyers had built enough demand to break through long-standing resistance.
After the rally, XRP formed a symmetrical triangle that stretched from $3.30 down to support between $1.90 and $2.00. As the price tightened beneath the upper boundary of the triangle, it eventually broke above the trendline in mid-2025, leading to the rally that reached $3.60 in July 2025.
The current situation shares many of the same features. XRP now presses against the upper boundary of the present channel with the same type of price compression that came before the previous breakout.
Key XRP Price Levels to Watch The next major signal will come if XRP closes a daily candle above the channel’s upper trendline, which now sits around $1.10. A confirmed close above that area would mark a technical breakout and push attention to the next resistance zone.
The first major target lies between $1.50 and $1.60. This area acted as support throughout late 2025 before the price fell below it as the descending channel continued lower. Moving back above that range would strengthen the overall market structure.
If buying pressure continues, $2.00 becomes the next major level to watch. This price acted as the foundation for the mid-2025 rally to $3.60 and has remained an important turning point on the chart.
From the current price of $1.0801, a move to $2.00 would represent a gain of about 85%. Above that, XRP could face additional resistance around $2.50 and $3.00 as it attempts to recover the July 2025 high.
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.
XRPL validator Hussein Zangana, better known as Vet, has urged the XRP community to stop spreading claims that SWIFT is using XRP or will adopt it soon.
According to Vet, these claims distract from the real progress happening across the XRP Ledger (XRPL) ecosystem.
His comments came after former SWIFT Chief Innovation Officer Tom Zschach publicly dismissed renewed speculation that SWIFT would integrate XRP.
Focus on Real XRPL Growth In a post on X, Vet told investors to “block” influencers who claim SWIFT is already using XRP or say with certainty that it will in the future.
He said these rumors are similar to earlier unverified claims involving the Depository Trust & Clearing Corporation (DTCC). According to Vet, such narratives are unnecessary and hurt the community’s credibility.
Instead, he encouraged the community to focus on ongoing XRPL developments. These include security upgrades, on-chain lending, stablecoins, foreign exchange capabilities, permissioned domains for compliant trading, and privacy improvements.
Vet also said Ripple and the XRPL ecosystem are working to onboard institutions and consumers while expanding real-world adoption. He argued that building useful infrastructure is “10000x better” than relying on unfounded speculation.
XRP Doesn’t Need SWIFT Responding to Vet’s post, XRP community member CharuSan said XRP’s long-term success does not depend on SWIFT integration. He pointed to Ripple’s existing network of financial institutions as a stronger foundation. He also highlighted future developments such as AI agents on XRPL, lending protocols, and other ecosystem innovations as better reasons for optimism.
CharuSan added that XRP could eventually compete with traditional payment networks instead of operating alongside them.
Former SWIFT Executive Rejected XRP Rumors The discussion follows comments made on July 10 by former SWIFT Chief Innovation Officer Tom Zschach. He rejected viral claims that SWIFT planned to support XRP.
Responding to social media posts claiming SWIFT would adopt public digital assets like XRP instead of launching its own cryptocurrency, Zschach replied, “Not happening.”
The speculation came from posts citing an alleged SWIFT document that supposedly said the organization would support existing digital assets such as XRP. However, no official SWIFT document or announcement backed those claims.
Zschach’s response is consistent with his long-standing skepticism toward Ripple and XRP. During his time at SWIFT, he questioned XRP’s utility and decentralization. He also criticized Ripple’s technology.
If you haven’t read former SWIFT (@swiftcommunity) Chief Innovation Officer, @TomZschach latest piece on tokenized assets yet, you might want to. In addition, if you haven’t watched his recent appearance on the @CryptoAmerica_ podcast, you should. Both are excellent, and… https://t.co/CeoCmXfavM
— 🌸Eri ~ Carpe Diem (@sentosumosaba) July 10, 2026
Despite recurring speculation whenever SWIFT announces blockchain or digital asset initiatives, neither SWIFT nor Ripple has announced any partnership involving XRP. Instead, Ripple executives have said the company is building an alternative to the SWIFT system.
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.
Ripple has announced that onchain financial products are rapidly transforming the global finance sector, signaling a clear shift from the experimental phase of blockchain toward widespread adoption. The technology company, which specializes in digital payment protocols and the XRP Ledger, cited increasing evidence that tokenized funds, bonds, and repurchase agreements (repos) are delivering significant improvements in settlement speed, cost reduction, transparency, and round-the-clock operational efficiency when compared to traditional systems.
UK takes the lead in digital assetsThe UK government has set out a strategic plan to establish itself as a center for tokenized wholesale finance. Ripple stated that the country’s robust capital markets, strong regulatory framework, and long-standing credibility in global finance give it a competitive advantage in driving digital asset innovation.
Industry forecasts suggest tokenized wholesale markets in the UK could achieve up to £33 billion, or approximately $45 billion, in annual economic output by 2035. Advocates claim that moving conventional financial instruments onto blockchain networks could deliver notable economic benefits as well as modernize financial infrastructure.
Ripple projects that tokenized funds, bonds, and repos are already enabling faster settlements, lower operational costs, and continuous market access, supporting the case for blockchain as a core element of future financial infrastructure.
Ripple also confirmed its ongoing participation in the UK Treasury’s Wholesale Digital Markets Taskforce. The Taskforce, working with regulators and private firms, is developing policies to advance the United Kingdom’s digital markets and support the rollout of blockchain-based financial products.
The UK initiative aims to increase the tokenization of real-world assets, including government bonds, corporate debt, money market funds, and repos. These efforts are designed to modernize financial markets while enabling real-time, transparent, and resilient transactions.
Mini dictionary: Repurchase agreement (repo), a short-term loan where one party sells securities to another with an agreement to repurchase them at a set date and price. Repos are widely used in money markets to manage liquidity between financial institutions.
Ripple and institutional adoption of blockchainThe momentum in tokenization is not confined to the UK. Financial institutions around the world are increasingly recognizing the advantages of bringing capital markets onchain. JPMorgan, one of the largest global banks, has underlined the growing importance of tokenized assets and programmable money, describing them as building blocks for the financial market’s next evolution.
Country/InstitutionTokenization StrategyAnnual Output TargetUKWholesale market and real-world asset tokenization£33 billion ($45 billion) by 2035RippleXRP Ledger as core infrastructure for regulated digital marketsGlobal scale (no explicit target)JPMorganAdoption of tokenized assets and programmable moneyNo direct output target statedRipple maintains that the XRP Ledger is well positioned to meet the needs of regulated digital markets. David Schwartz, Ripple’s Chief Technology Officer, has recently highlighted tokenized loans, securities, and repo markets as a significant opportunity for the network, stating that the platform could serve as an institutional backbone for bond issuance, securities processing, tokenized lending, and wholesale funding.
Ripple is working with regulators, financial institutions, and technology partners to shape frameworks that support regulated tokenization and encourage adoption of blockchain solutions in global finance.
As governments and leading institutions accelerate tokenization strategies, Ripple aims to ensure the XRP Ledger is prepared to facilitate large-scale, regulated trading of real-world assets. Observers say that the global financial system is increasingly positioning blockchain not simply as a vehicle for cryptocurrencies but as a foundational technology for markets and payments infrastructure.
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.
Today marks the three-year anniversary of what the digital asset community calls "The XRP Victory Day".
On July 13, Judge Analisa Torres of the U.S. District Court for the Southern District of New York delivered a landmark summary judgment in the SEC v. Ripple Labs case, fundamentally reshaping the cryptocurrency regulatory landscape.
The historic ruling decisively declared that XRP, in and of itself, is not a security.
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The historic Torres rulingThe legal warfare initiated by the U.S. Securities and Exchange Commission (SEC) in December 2020 sought to classify all sales of XRP as unregistered investment contracts.
Judge Torres's final ruling, however, rejected this attempt by relying on the decades-old Howey Test for modern digital assets.
Judge Torres ruled that Ripple’s programmatic sales of XRP on public digital asset exchanges did not constitute the sale of securities. She concluded that retail buyers purchasing tokens on secondary markets through blind bid-ask auctions had no way of knowing their funds were going to Ripple. Consequently, these buyers could not have had a reasonable expectation of profits derived directly from Ripple's effort (hence, it failed a core prong of the Howey Test).
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Conversely, the court sided with the SEC regarding direct institutional sales. Judge Torres ruled that Ripple’s $728 million in direct token sales to institutional players constituted unregistered securities offerings. These sophisticated parties were aware they were purchasing directly from Ripple (and their success depended on the company's efforts).
On the verge of a shutdown In the meantime, recently surfaced statements from Ripple CEO Brad Garlinghouse and Chief Technology Officer David Schwartz confirmed that the company was seriously considering closing its doors. "We almost decided to shut down the company when the SEC sued us," Garlinghouse admitted. "We were like, you know, the government has infinite power and resources." This was due to advice from their lawyers, according to Schwartz.
XRP Ledger app activity has picked up, with tagged transactions jumping 28.6% as more applications become active on the network.
Developer-related activity on the XRP Ledger is showing renewed momentum, with new data pointing to a noticeable rise over the past week. According to an X post from XRPL dUNL validator Vet, source-tagged transactions have increased sharply as more applications and services come live on the ecosystem.
XRP Ledger Records Stronger App Activity According to the data, source-tagged transactions reached 676,800 per week, representing a 28.6% increase compared to the first week of the reporting period.
An accompanying chart shows daily source-tagged transactions trending higher after a noticeable drop in late June. Activity accelerated on the third day of July, with several sessions since then pushing above the 80,000 mark. On July 10, tagged transactions on the XRP Ledger reached 120,000 per day, one of the highest readings on the chart.
XRP Ledger App Activity Spike/Vet Network participation also ticked up during the same timeframe. Average daily active source tags rose to 176, up 13% from the beginning of the reporting period.
Notably, source tags identify the services and applications generating activity on the XRP Ledger. As such, their increase suggests that more platforms are now operating on the network.
Overall, the metric shows that developers are actively deploying newer applications on XRP Ledger. Also, those apps are generating interest, resulting in more source-tagged transactions processed on the Ledger per day.
While the overall activity grew, the data shows that new wallets per week held steady at 12,400. Vet noted that the flat new wallet count suggests that existing users are becoming more active. The current increase in app usage is from users already registered on the network, not primarily from new addresses.
Rising Developer Activity Fueled by “Make Waves?” Vet noted that one possible explanation for the higher level of activity is the ongoing “Make Waves on XRPL” initiative organized by XRPL Commons.
For the uninitiated, the three-month competition started on June 22. XRPL Commons offers 50,000 XRP in rewards to developers who launch live applications on the XRP Ledger mainnet and attract active users and measurable on-chain activity.
The hackathon bases the incentives on working products and does not accept prototypes. At the end of the program on September 21, the best projects will receive a share of the 50,000 XRP prize money.
For context, 25,000 XRP will go to the best overall project, selected by the jury. 5,000 XRP will go to the application with the highest number of users. The project with the highest on-chain volume will receive another 5,000 XRP, while 1,000 XRP will be shared among 15 projects with 300 active users.
Vet suggested that this could be the reason why both tagged transactions and active source tags have climbed together. Nonetheless, this remains unconfirmed.
XRP Whale Activity and Price Decline Despite the increase in app activity, XRP whales have slowed down transactions. Over the past week, transactions exceeding $1 million on the XRP Ledger have dropped from 70 to two, a 97% decline.
At the same time, XRP also pulled back by 6%, as bears continue to dominate market proceedings. At the time of writing, XRP trades at $1.078, continuing to defend key support areas despite weakness.
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.
The XRP community is marking July 13 as “XRP Victory Day,” three years after Judge Analisa Torres issued a split summary judgment in the SEC’s case against Ripple.
Summary
Ripple’s 2023 ruling protected programmatic XRP sales while leaving institutional transactions subject to securities law. The SEC case ended in 2025 with a $125 million penalty and permanent injunction intact. Ripple leaders now say the company considered closing before choosing an expensive multiyear legal defense. The 2023 order rejected the regulator’s claim that every XRP transaction followed the same legal pattern. It also gave public exchange sales a different outcome from direct institutional deals. The SEC had accused Ripple and two executives of conducting unregistered securities offerings through years of XRP sales and distributions across several channels.
The court did not issue a blanket ruling that every future XRP sale falls outside securities law. Torres wrote that XRP, as a token, was not “in and of itself” an investment contract. She then examined how Ripple offered and sold the asset in separate transaction categories under the Howey test.
Exchange and institutional sales received different outcomes Ripple’s programmatic sales on exchanges did not qualify as investment contracts, the court found. Those trades used blind bid-and-ask systems. Buyers did not know whether Ripple or another holder sold the XRP. The record therefore failed to show that those buyers reasonably expected profits from Ripple’s work.
The decision went the other way for about $728.9 million in institutional sales. Ripple sold those tokens through written agreements to sophisticated buyers. The court found that the contracts, marketing and use of proceeds created an expectation that Ripple’s work could raise XRP’s value. It ruled that those sales violated registration rules.
Ripple says the lawsuit nearly forced a shutdown Recent comments from Ripple executives have added new detail about the pressure surrounding the case. Chief executive Brad Garlinghouse said the company “almost decided to shut down” after the SEC filed its complaint in December 2020. He described the government’s resources as a major concern during internal talks.
Ripple co-founder David Schwartz said some lawyers considered the company “unsavable” and advised executives to seek personal settlements. Those comments describe private discussions and legal advice; they do not prove the SEC intended to close Ripple. As crypto.news reported, Ripple instead continued operating and spent about $150 million on its defense.
Final judgment stayed in place after appeals ended The July 2023 order did not end the lawsuit. The court later imposed a $125.04 million civil penalty and a permanent injunction tied to future unregistered institutional sales. That amount was far below the SEC’s requested remedies, but it confirmed that Ripple had violated federal securities law in one part of its XRP business.
Ripple and the SEC tried to reduce the penalty to $50 million and remove the injunction in 2025. Torres rejected their joint request, saying they had not shown grounds to change the final judgment. Both sides later dismissed their appeals, and the case formally ended in August 2025.
As previously reported, the final outcome left a transaction-based framework. Public exchange sales received more favorable treatment, while direct institutional sales remained restricted. The decision also removed the pending personal claims against Garlinghouse and executive chairman Chris Larsen after the SEC dismissed them in 2023.
Today marks the third anniversary of a pivotal moment often referred to by the digital asset community as “The XRP Victory Day.” On July 13, Judge Analisa Torres of the U.S. District Court for the Southern District of New York issued a landmark decision in the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs.
Landmark court rulingJudge Torres’s summary judgment fundamentally altered the landscape of cryptocurrency regulation in the United States. The court concluded that XRP in itself does not qualify as a security, a determination closely watched by the wider digital asset sector.
The case began in December 2020, when the SEC launched a lawsuit claiming that Ripple Labs had conducted unregistered securities offerings by selling XRP. The core legal debate centered on whether sales of XRP represented investment contracts under federal law.
Judge Torres relied on the Howey Test, a decades-old legal framework used to determine whether certain transactions qualify as investment contracts and therefore fall under securities regulations.
Her ruling found that Ripple’s programmatic sales of XRP on public crypto exchanges did not constitute securities offerings. Retail buyers who participated in blind bid-ask auctions on secondary markets had no means of knowing the identity of the seller or if their funds were being sent to Ripple.
Judge Torres emphasized that retail buyers could not reasonably expect profits to come directly from Ripple’s efforts, a core requirement under the Howey Test.
However, the court reached a different conclusion with Ripple’s direct institutional sales of XRP. Judge Torres ruled that $728 million worth of token sales to sophisticated institutional investors did constitute unregistered securities offerings. These investors knew they were purchasing the tokens directly from Ripple and therefore had a reasonable expectation of profit from the company’s success.
Ripple Labs is a technology company focusing on developing global payment solutions using blockchain-based technology. XRP is the native cryptocurrency for the Ripple network, designed to facilitate fast and cost-effective cross-border transactions for financial institutions.
Mini dictionary: Howey Test, a legal standard from the 1946 US Supreme Court case SEC v. W.J. Howey Co., is used to determine whether certain transactions classify as investment contracts and thus securities regulated by US law.
CategoryClassificationSEC StatusXRP on public exchangesNot a securityNo violationDirect institutional salesSecurities offeringUnregistered salesRipple’s leadership: Internal impact of the lawsuitIn the aftermath of the SEC lawsuit, Ripple’s top executives revealed the intensity of the crisis the company faced. CEO Brad Garlinghouse and Chief Technology Officer David Schwartz, in recent comments, admitted that the company considered shutting down operations.
Brad Garlinghouse described the internal discussions at the time: “We almost decided to shut down the company when the SEC sued us. We were like, you know, the government has infinite power and resources.”
Schwartz pointed to legal advice as a major factor in this consideration, reflecting the degree of uncertainty facing Ripple’s leadership. Ultimately, the firm chose to continue operations, a decision seen as significant by many within the digital asset sector.
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.
Cover image via depositphotos.com 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.
The UK Treasury has officially brought Ripple into a large-scale government reform aimed at tokenizing wholesale financial markets. The technology giant has joined a special working group of 54 participants established under the auspices of Wholesale Digital Markets Champion Chris Woolard and the City of London Corporation.
The initiative involves the complete replacement of traditional legacy settlement systems with blockchain platforms.
London's plans are based on pragmatic commercial calculations. The global market for tokenized real-world assets is expected to reach approximately $88 trillion by 2035, and the United Kingdom intends to secure a key share of it.
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Members of UK £33 billion wholesale tokenization programme, Source: Wholesale Digital Markets Champion First ReportAccording to official government estimates, moving wholesale markets onto on-chain rails could generate up to £33 billion in annual economic output for the country and up to £14 billion in additional tax receipts each year by 2035.
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To bridge this vast financial gap, the government needs battle-tested networks. Ripple, which will now work on the same committee as Wall Street pillars such as BlackRock, Goldman Sachs, and J.P. Morgan, as well as infrastructure giants Euroclear and Bloomberg, is expected to provide the government with established international technological expertise to handle these heavy institutional volumes.
The roadmap: Digital gilts and 2027 deadlineThe working group's next 12 months are structured around strict deadlines, with an immediate focus on the fixed-income market as the most advanced sector ready for disruption. Priorities include the launch of DIGIT, the United Kingdom's sovereign digital bonds, as well as the transition of collateral markets into a digital format.
At the same time, nine dedicated action groups have been tasked with deploying end-to-end technology use cases and conducting full live testing of tokenized repo transactions by spring 2027.
Feedback from financial-sector participants on the first stage of the reform will be collected until September 4, 2026, after which the project will move directly into the practical implementation stage, permanently shifting the landscape of British capital.
Ripple (XRP) remains in a dominant bearish trend, trading at $10.08 as of Monday. This marks the third straight day the remittance token has extended its correction, with targets at the next key support levels of $0.04 and $1.00, respectively.
XRP attracts mild capital inflowsAppetite for XRP investment products has remained significantly suppressed despite marginal improvement in sentiment. According to the crypto Fear & Greed Index, sentiment analysis remains in Fear Territory at 28 on Monday, up slightly from 26 the previous day and 24 last week.
Crypto Fear & Greed Index | Source: AlternativeInflows into XRP spot Exchange-Traded Funds (ETFs) returned on Friday, totaling $107,000 following muted activity on Thursday and roughly $7 million in outflows on Wednesday. SoSoValue data shows that cumulative inflows stand at $1.48 billion despite subdued demand. Sustained demand is needed to reinforce XRP’s recovery and lower the risk of dropping below $1.00.
XRP ETF flows | Source: SoSoValueRetail demand is also on the back foot, even though perpetual futures Open Interest (OI) has increased to 2.13 billion XRP on Monday, from 2.10 billion XRP the previous day.
Nevertheless, an expanded scope shows a general narrowing of retail demand given that OI averaged 2.38 billion XRP on June 23. Hence, demand must hold steady over an extended period to affirm a strong bullish grip. Otherwise, XRP would remain at risk of dropping below the psychological $1.00 level.
XRP Futures OI | Source: CoinGlass"XRP, currently around $1.08, continues to consolidate following recent regulatory progress. The long-term outlook remains constructive as Ripple expands its payments infrastructure and cross-border use cases, but sustained upside will likely depend on broader improvements in market sentiment and stronger capital inflows into the altcoin market. Until then, range-bound trading is likely to continue," Ryan Lee, Chief Analyst at Bitget Research said in a comment sent to FXStreet.
Ripple once weighed handing XRP to shareholdersRipple’s CEO Brad Garlinghouse opened up about the difficult moments that followed the lawsuit by the Securities and Exchange Commission (SEC) in 2020, saying that he and the co-founder Chris Larsen considered winding down the company and handing over XRP to shareholders.
Garlinghouse was speaking at the University of Kansas School of Business last week, where he intimated that it would have been the easier path, as opposed to a legal battle with a government he described as having “infinite power and resources.”
“I’m glad in retrospect, but that was not obvious at the time,” Garlinghouse said regarding the hundreds of jobs that would have been lost if they had gone ahead and handed the company to shareholders on a pro rata basis, dissolving it and ultimately ending the suit.
The SEC sued Ripple alleging that it had sold XRP as unregistered securities. Garlinghouse and Larsen were named as respondents in the lawsuit. However, Ripple was granted a second chance when Judge Analisa Torres ruled that XRP in itself was not a security. The SEC and Ripple settled the case in May 2025.
Technical outlook: XRP eyes lower levelsXRP retains a bearish near-term bias as price holds inside a downward parallel channel and below the key Exponential Moving Averages (EMAs). The 50-day EMA at $1.16, the 100-day EMA at $1.26 and the 200-day EMA near $1.47 all sit overhead, suggesting rallies remain corrective within a broader downtrend.
The Relative Strength Index (RSI) hovering around 42 hints at subdued momentum on the daily chart, reinforcing the idea that sellers still have the upper hand unless price can reclaim the overhead structure.
XRP/USDT daily chartOn the topside, initial resistance appears at the channel top around $1.12, with further barriers at the 50-day EMA near $1.16 and then the 100-day EMA at $1.26, before the longer-term 200-day EMA around $1.47 caps the broader recovery scope. Looking down, the Parabolic SAR support around $1.04 is the first level to watch. A sustained break below it would expose the lower boundary of the descending channel near $0.78, where buyers may again attempt to stabilize the pair.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Bitcoin, altcoins, stablecoins FAQs Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
The UK Treasury has selected Ripple, the US-based blockchain payments company, as a member of a major government-backed initiative designed to modernize the nation’s wholesale financial markets through tokenization.
Ripple joins top financial institutions in reform groupRipple will be part of a working group composed of 54 organizations, formed under the leadership of Wholesale Digital Markets Champion Chris Woolard and the City of London Corporation. Other members include prominent global financial institutions such as BlackRock, Goldman Sachs, and J.P. Morgan, as well as leading market infrastructure providers Euroclear and Bloomberg.
The government aims to fully replace traditional settlement systems with blockchain technology across wholesale financial markets. This initiative reflects the UK’s ambition to capture a share of the rapidly expanding global market for tokenized real-world assets, which analysts forecast could reach $88 trillion by 2035.
The UK government estimates a transition to on-chain wholesale markets may generate £33 billion in additional annual economic output and boost tax revenues by £14 billion each year by 2035.
By moving established financial activity onto blockchain-based platforms, officials seek to streamline operations and expand the competitive position of London’s financial sector.
Mini dictionary: City of London Corporation, a municipal governing body for the historic center of London, plays a central role in promoting the city as a leading financial hub and supports initiatives aimed at financial innovation and regulation.
Action plan targets digital bonds and tokenized marketsThe group has set a 12-month timetable focused initially on the fixed-income sector, which officials identify as ready for rapid transformation. A key part of the strategy involves launching DIGIT, sovereign digital bonds issued by the UK government, and digitizing collateral markets.
Nine specialized action groups will pursue end-to-end deployment of technological solutions. Their brief also includes live testing of tokenized repurchase (repo) transactions, targeted for completion by spring 2027.
Key Reform TargetImplementation GoalFixed-income marketsImmediate digital transformationDIGIT bondsLaunch as UK sovereign digital bondsTokenized repo transactionsLive end-to-end tests by spring 2027Input from market participants will be collected through September 4, 2026. After this feedback phase, the reform program will advance into implementation, ushering in a new era for Britain’s wholesale capital markets.
Ripple is expected to contribute its global technological expertise to support high-volume institutional transactions as the UK aims for digital innovation in its financial core.
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 announces support for the HM Treasury’s Wholesale Digital Markets taskforce and new tokenization strategy to scale tokenization in the UK. The blockchain payments firm is one of the leaders in offering tokenization services over its XRP Ledger (XRPL).
Ripple Joins Taskforce to Boost UK Treasury’s Tokenization Strategy Ripple to work with Chris Woolard, the Wholesale Digital Markets Champion at HM Treasury, to boost the UK’s tokenized financial markets. The crypto payments firm stated that traditional financial funds, bonds, and repo are already available on-chain, outperforming tradFi systems in cost, speed, and efficiency.
“They’re already happening, delivering onchain financial instruments that are cheaper, better and faster than their legacy equivalents,” Ripple stated.
The UK tokenized real-world assets market is expected to reach £33 billion in annual economic output by 2035. The country has the capital market depth and regulatory credibility to be a global leader in tokenization.
As a member of HM Treasury’s cross-industry Wholesale Digital Markets Taskforce, Ripple is contributing to building secondary markets, tokenizing collateral, and issuing the UK Digital Gilt instrument DIGIT over the next 12 months.
Other members of the Wholesale Digital Markets Taskforce include BlackRock, Goldman Sachs, JPMorgan, Morgan Stanley, Coinbase, Circle, and Wintermute, among 54 firms.
TradFi and Crypto Industries Taskforce and its Strategic Impact The tokenized real-world assets market is expected to reach at $88 trillion by 2035. In addition to the benefits of tokenization, HM Treasury’s plan could generate £14 billion in annual tax revenue by 2035. Earlier this year, Ripple partnered with Aviva Investors to launch tokenized traditional fund products on the XRP Ledger.
The UK government aims to transform wholesale finance through distributed ledger technology such as Ripple’s XRP Ledger. The plan needs to ensure interoperability and replace outdated processes for broader sector-wide digitalization.
Ripple and the taskforce will also help establish the repo use case, completing tests and run a live trial by spring 2027. “We will consider the possibility of exploring additional asset classes, such as commodities, across the course of the year,” as per HM Treasury.
As CoinGape earlier reported, tokenized RWAs on the XRP Ledger grew from $150 million to $4 billion in just a year. Notably, more than 500 products now live on XRPL, with JMWH and Ondo Short-Term Government Bond Fund representing nearly $2.5 billion in value.
Market data indicates that XRP takes about 1,400 days to reach a new cycle peak.
XRP has been in a correction phase for the past 12 months since reaching its cycle high of $3.6 in July 2025. While market participants await a recovery, historical cycle data suggests the correction may not be finished.
Notably, XRP’s three completed market cycles show that the asset has taken an average of 1,414 days to move from one cycle peak to the next after declining from the previous high.
With only 360 days having passed since the July 2025 peak, the data points to a possible cycle bottom forming around Q4 2026, while a new cycle high could arrive between May and August 2029 if the historical pattern continues.
Past XRP Cycles Show a Similar Structure XRP’s first major cycle peaked on Dec. 5, 2013, when the price reached $0.0614 after rising 2,017% from the $0.0029 low recorded in August 2013. However, the rally was followed by a sharp decline, and XRP fell to about $0.0028 in July 2014, a drop of roughly 95.4%.
XRP later recovered and reached a new cycle high of $3.31 on Jan. 4, 2017. Essentially, this first peak-to-peak cycle lasted 1,125 days.
The second cycle followed a similar path but lasted longer. After peaking at $3.31 in January 2017, XRP declined for about 27 months before finding a bottom near $0.11 in March 2020 during the COVID-related market crash.
This move represented a decline of about 96.7%. XRP later recovered and reached $1.96 on April 14, 2021, completing a 1,561-day cycle.
XRP Cycle Tops Meanwhile, following the April 2021 peak of $1.96, XRP dropped to around $0.29 in June 2022, a decline of about 85.2% over roughly 14 months. The recovery that followed pushed XRP to $3.60 on July 18, 2025, exactly 1,556 days after the April 2021 peak.
Averaging all three completed cycles produces a mean cycle length of 1,414 days, which points to a potential new peak in June 2029 from the July 2025 high. This indicates that XRP could find its next cycle top between May and August 2029.
The Bottom May Not Have Formed Yet In addition, historical data provides clues about where XRP could find its next long-term bottom. Previous cycles took an average of 15 months to complete the bottoming process after each peak. If this pattern repeats, XRP could continue correcting through Q4 2026 before establishing a more durable floor.
Also, the size of past corrections supports the possibility. Specifically, XRP experienced drawdowns of 95.4%, 96.7%, and 85.2% in its three completed cycles, averaging roughly 92%.
Applying similar declines to the $3.60 peak produces several downside targets. A decline matching the deepest historical corrections would place XRP near $0.29, which is also the June 2022 cycle low.
A milder correction similar to the third cycle would point to around $0.53. In addition, the 78.6% Fibonacci retracement of the move from $0.29 to $3.60 sits at $1.00.
Based on those levels, the most likely range for a long-term bottom appears to be between $0.29 and $1.00, with the $0.53 to $0.67 zone representing a middle-ground scenario.
Key Resistance Levels Once XRP completes its correction, several resistance levels could determine the next recovery phase.
The first major level is $1.55, which aligns with the 61.8% Fibonacci retracement of the full move from $0.29 to $3.60. A sustained push above that level would confirm that XRP has entered a broader recovery.
Above that, the $1.95 to $1.96 area carries additional importance because it matches both the April 14, 2021 cycle peak and the 50% Fibonacci retracement level. Many previous buyers may look to exit positions around that zone.
The next major resistance stands at $3.31, the cycle high recorded in January 2017. After that, XRP would need to reclaim its $3.60 all-time high before confirming a new cycle breakout.
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.
The cryptocurrency market broadly corrects on Monday, as risk-averse sentiment persists amid fresh military attacks between the United States (US) and Iran in the Middle East. Bitcoin (BTC) hovers above $63,000, reinforcing a weak technical structure while Ethereum (ETH) trades below $1,800 with the next key support near $1,700. Meanwhile, Ripple (XRP) wobbles around the immediate $1.08 support after correcting for the third consecutive day.
Fresh US-Iran attacks weigh on the crypto marketThe United States (US) Central Command (CENTCOM) confirmed a second consecutive day of airstrikes targeting dozens of Iranian military positions on Sunday, seeking to further diminish Iran’s capability to threaten commercial shipping in the Strait of Hormuz. A CNN report states that US strikes have expanded beyond coastal areas bordering the vital shipping channel.
In a swift response, Iran reported strikes against US military installations in Bahrain, Kuwait, Oman, and Jordan. The escalation has further threatened the fragile ceasefire between the two countries.
Moreover, heightened geopolitical tensions have fueled a surge in Crude Oil prices, with West Texas Intermediate (WTI) trading around $74 per barrel at the time of writing.
Crypto Fear & Greed Index | Source: AlternativeSentiment in the crypto market remains rather low, despite marginal improvements in the Fear & Greed Index. The sentiment index is embedded in the Fear Territory at 28 on Monday, up slightly from 26 the day before and 24 last week. This shows that risk-averse sentiment continues to dominate the crypto market, as investors assess the impact of fresh attacks between the US and Iran.
WTI price chartPrice analysis: Bitcoin wobbles near support as headwinds escalateBitcoin retains a bearish near-term tone as it holds below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs) clustered from roughly $65,200 to $74,600. The Relative Strength Index (RSI) has slipped back toward the high-40s on the daily chart, suggesting fading bullish momentum after a recent recovery, while the Moving Average Convergence Divergence (MACD) histogram softens but remains slightly positive, implying that upside attempts are struggling to extend against the prevailing overhead supply.
BTC/USDT daily chartOn the topside, immediate resistance emerges at the 50-day EMA near $65,200, and a break above this barrier would expose the 100-day EMA around $68,680, with the 200-day EMA near $74,650 acting as a more distant cap within the dominant downtrend. Looking down, initial support is seen at the reclaimed descending trendline around $62,170, followed by the Parabolic SAR zone near $61,230. A daily close back below these levels would reopen the path toward lower lows and reinforce the broader bearish bias.
Altcoins outlook: Ethereum and XRP retain technical weaknessEthereum maintains a capped tone as it holds below the 50-day EMA at roughly $1,800 and well under the 100-day and 200-day EMAs near $1,947 and $2,225, respectively. Momentum, however, remains mildly constructive, with the RSI hovering around 55 on the daily chart and the MACD still positive, suggesting that downside pressure is moderating even as the broader downtrend defined by the descending trendline resistance continues to weigh.
ETH/USDT daily chartImmediate resistance sits at the 50-day EMA around $1,800, followed by the 100-day EMA near $1,947 and then the more distant 200-day EMA close to $2,225, while the broader descending trend line reinforces this overhead supply zone. On the downside, initial support is offered by the latest Parabolic SAR print near $1,705, where a break would reopen the path toward lower levels within the prevailing medium-term bearish structure.
XRP, on the other hand, trades at $1.08, keeping a bearish bias as price holds well below the 50-day, the 100-day and the 200-day EMAs, which fan out above the market and suggest a capped medium-term structure. The RSI hovering near 42 on the daily chart, hints at subdued buying power despite a marginally positive MACD histogram, which only modestly tempers downside pressure.
XRP/USDT daily chartInitial resistance is seen at the channel top around $1.12, followed by the 50-day EMA near $1.16, with the 100-day EMA at $1.26 reinforcing a broader supply band ahead of the prior channel starting high around $1.41 and the 200-day EMA at $1.47. Looking down, immediate support aligns with the Parabolic SAR at $1.04, and a decisive break lower would expose the channel bottom near $0.78 as the next major demand zone.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Bitcoin, altcoins, stablecoins FAQs Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
Forbes has included XRP among its 10 best cryptocurrencies to invest in for July 2026, placing it fourth behind Bitcoin, Ethereum, and BNB.
The ranking comes from the publication’s latest review of major digital assets based on factors such as real-world use, market size, recent price performance, and trading activity.
The publication limited its selection to cryptocurrencies with market capitalizations above $5 billion, noting that larger assets tend to show greater stability and attract more institutional interest.
Besides the top four, the list also includes Solana (SOL), TRON (TRX), Hyperliquid (HYPE), Rain (RAIN), UNUS SED LEO (LEO), and Zcash (ZEC).
Why XRP Made the List According to Forbes, XRP continues to earn attention because of its focus on fast and low-cost cross-border payments. The original XRPL architects developed the cryptocurrency to help move value between different currencies quickly while keeping transaction costs low.
The report noted that XRP traded at $1.11 as of July 10, 2026. At that price, the cryptocurrency had a market capitalization of $69.21 billion, making it the fourth-largest asset in the rankings. Over the previous seven days, XRP posted a modest gain of 0.29%.
Forbes also mentioned XRP’s long-term growth. Since its launch, the asset has climbed about 18,761% to reach its current price. It also reached a 12-month high of $3.65 on July 17, 2025, before pulling back to the current level.
Forbes Weighs XRP’s Strengths Against Its Risks Forbes highlighted XRP’s role in international payments as one of its biggest strengths. The publication noted that Ripple has built partnerships with financial institutions, which give XRP a practical use case that sets it apart from many other cryptocurrencies.
At the same time, the report acknowledged concerns that some investors continue to raise. Unlike Bitcoin, which releases new coins through mining, XRP enters circulation when Ripple sells tokens from its holdings. Forbes said this has led to ongoing discussions over how much influence Ripple has on the token’s supply.
The publication also pointed out that Ripple co-founder Chris Larsen still owns a significant amount of XRP. It presented this concentration of ownership as another factor investors should consider alongside the asset’s strengths.
Bitcoin, Ethereum, and BNB Lead the Rankings Meanwhile, Bitcoin took the top spot on the list, with its $1.289 trillion market cap and position as the largest cryptocurrency. Forbes called it digital gold and a store of value, but noted that its proof-of-work network consumes large amounts of energy and processes transactions more slowly than newer blockchain networks.
Ethereum ranked second with a market cap of $216.47 billion. Forbes highlighted its role in smart contracts and decentralized applications alongside its large developer community. However, it also noted that network congestion and high gas fees remain ongoing challenges.
BNB secured third place with a market capitalization of $77.36 billion. The publication mentioned its growing use across the Binance ecosystem and the token’s regular supply burns.
However, they noted that its future remains tied to Binance’s performance and the regulatory environment surrounding the exchange.
Forbes’ Focus on Utility and Market Size Forbes said it built its rankings by looking at criteria besides price alone. Specifically, the publication focused on cryptocurrencies that boast practical use alongside a long-term investment case.
Notably, market cap played a major role in the selection process. While Bitcoin and Ethereum together account for about 68% of the total crypto market, Forbes also looked at other large-cap projects that could offer a balance between growth potential and relative stability.
Using those criteria, XRP earned the fourth spot. Forbes based that decision on the asset’s role in cross-border payments, its institutional connections, and its $69.21 billion market capitalization.
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.
Evernorth, a multi-million-dollar digital asset treasury company dedicated to expanding the XRP ecosystem, has established its presence in the Japanese market.
The newly formed company officially announced its expansion via the launch of a dedicated Japanese account on the X social media platform.
The firm’s @evernorth_jp account acknowledged the country's historical support for the cryptocurrency, stating: "Japan believed in XRP early on. Together, we will build from here."
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Evernorth clarified that its regional communications will be strictly analytical and informational. "In this account, we will analyze market movements from our unique perspective and deliver professional content in an easy-to-understand way," the company stated, adding a firm boundary that it "will not discuss prices."
Why Japan mattersJapan’s significance to the XRP community cannot be overstated.
Ripple spent years embroiled in a bitter legal dispute with the U.S. Securities and Exchange Commission (SEC) over regulatory classification, but Japan offered early regulatory clarity and an environment eager to experiment with blockchain-based financial solutions.
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A primary driver of this relationship is the Japanese financial conglomerate SBI Holdings. The firm has been a staunch advocate for the token’s utility in cross-border remittances and established the joint venture SBI Ripple Asia to promote its practical use.
One of the biggest XRP treasuries Evernorth recently announced plans to go public on the U.S. Nasdaq market under the ticker XRPN. The company expects to raise over $1 billion to build one of the world's largest public XRP treasuries.
Notably, SBI Holdings acts as a primary anchor investor in the venture, injecting $200 million into Evernorth alongside Ripple and other institutional players.
The launch of a localized presence indicates that Evernorth intends to leverage these existing financial ties. The treasury firm is positioning itself to build real-world momentum away from U.S. regulatory headwinds.
Evernorth, a digital asset treasury company managing multi-million-dollar reserves, has entered the Japanese market as part of its mission to advance the XRP ecosystem. The company’s expansion underlines the growing significance of institutional adoption in Asia for Ripple and its affiliated token, XRP.
Expansion into JapanEvernorth marked the launch of its Japanese operations by introducing a new, dedicated Japanese-language account on the X social media platform. The official @evernorth_jp account described Japan as an early supporter of XRP and expressed the intention to work collaboratively with the local community. The inaugural message referenced Japan’s longstanding faith in the cryptocurrency, stating: “Japan believed in XRP early on. Together, we will build from here.”
The company emphasized that all communications in the region would be analytical and focused on information-sharing. “In this account, we will analyze market movements from our unique perspective and deliver professional content in an easy-to-understand way,” Evernorth stated in its opening announcement, also clarifying that the platform will refrain from discussing token prices or making market predictions.
Japan’s role in the XRP landscapeJapan maintains a notable position within the global XRP community. While Ripple endured lengthy legal uncertainties with the U.S. Securities and Exchange Commission (SEC) regarding the classification of XRP, Japanese authorities provided early regulatory guidance, giving XRP a credible foundation and fostering innovation within blockchain-based finance.
A central figure in this development is SBI Holdings, a leading Japanese financial conglomerate. SBI Holdings partnered with Ripple to form SBI Ripple Asia, aiming to promote XRP as a mainstream solution for cross-border remittances. The company continues to support initiatives that enhance the practical use of XRP among institutional and retail players.
Mini dictionary: SBI Holdings, a major Japanese financial services group, has invested heavily in blockchain and digital asset technologies, including a strategic partnership with Ripple to facilitate faster cross-border payments using XRP.
Evernorth’s corporate structure and IPO plansEvernorth’s connections to Japan extend beyond market engagement. The company recently revealed plans to go public in the United States and list on the Nasdaq stock exchange under the ticker symbol XRPN. Evernorth intends to raise more than $1 billion through this offering, with the goal of establishing one of the world’s largest publicly managed XRP treasuries.
SBI Holdings has committed $200 million as a lead investor in Evernorth, joining Ripple and other key institutional backers. This anchor investment reflects the company’s continued support for XRP adoption at scale.
EntityRole / ContributionInvestment / ParticipationSBI HoldingsLead anchor investor$200 millionRippleInstitutional investorUndisclosedEvernorthIssuer, manages XRP treasuryTargets $1 billion+ IPOInstitutional ambitions in AsiaEvernorth’s decision to invest in localized operations reflects its ambition to build on established relationships with Japanese financial institutions. Megumi Nakamura, Evernorth’s chief operating officer, identified Japan as a vital testbed for expanding the use of XRP in institutional settings. By aligning its business with a market that already recognizes and utilizes the digital asset, Evernorth aims to drive practical adoption without the regulatory challenges seen elsewhere.
Japan has been recognized as a critical early adopter of XRP, providing the regulatory clarity and financial support necessary to advance blockchain-based payment solutions. As Evernorth deepens its integration in Japan, it seeks to create practical use cases for XRP outside the U.S. regulatory arena.
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 showed further signs of weakness today after breaking below a key technical formation, raising concerns that the token could fall back to $1.00 if current support levels do not hold. The price action reflected ongoing selling pressure, even as some indicators pointed to a potential rebound scenario.
XRP fails to maintain upward momentumAt press time, XRP was priced at $1.09. The 24-hour trading volume stood at $997.07 million, and market capitalization reached $68.30 billion. The token declined by 1.18% over the last 24 hours, consistent with the broader bearish sentiment seen across the cryptocurrency market.
ChartNerd, a widely followed analyst in the cryptocurrency space, released an update on July 12, 2026, noting that XRP had moved beneath its ascending channel on the four-hour chart. The digital asset is now challenging a crucial upward support line, with market participants watching closely to see if buyers can preserve this level.
The maintenance of this ascending support is seen as critical for bulls. Failure to hold could open the door for XRP to test psychological support at $1.00 in the coming sessions.
Key resistance and technical indicators in focusIf buyers succeed in defending current support, attention will turn to the resistance at $1.15. A move above this level could create conditions for a recovery. Conversely, failing to maintain support could see XRP revisit lower levels as bearish momentum builds.
The Relative Strength Index (RSI), a popular momentum indicator, reads 44.41, with its signal line at 44.85. With the RSI below 50, buying interest remains muted, yet indicators suggest that selling pressure is beginning to abate compared to earlier sessions.
Meanwhile, the Moving Average Convergence Divergence (MACD) remains in positive territory. The MACD line is at -0.01474, above the signal line of -0.02026, while the histogram stands at 0.00552. This configuration points to lingering bullish momentum, although signs show it is fading as price action remains under pressure.
XRP’s technical readings reveal a market at a turning point, with momentum depending on buyers’ ability to steer the price above resistance and increase demand at current levels.
Mini dictionary: MACD (Moving Average Convergence Divergence), a trend-following indicator that shows the relationship between two moving averages, often used to identify potential changes in a cryptocurrency’s trend and momentum.
IndicatorCurrent ValueSignal InterpretationPrice$1.09Weak and at supportKey Support$1.00Psychological level to watchResistance$1.15Needs breakout for recoveryRSI44.41Weak buying pressureMACD Histogram0.00552Momentum fadingBuyers face critical decision pointTraders and analysts are watching the coming trading sessions for a decisive move. Defending the current uptrend line is seen as essential. A break above $1.15 would provide an encouraging sign of recovery, while a failure could test $1.00 and prompt investors to assess demand at lower levels.
While the medium-term outlook remains uncertain, the next several trading periods could determine XRP’s immediate trajectory. The asset is currently positioned at a significant technical juncture as traders gauge momentum and market sentiment.
XRP’s technical formation indicates a possible test of $1.00 support, but a convincing move above $1.15 resistance could drive a rebound in the short term if buyers regain control.
For now, XRP is navigating a key technical landscape, and market participants await clear signals for the next trend direction.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Leading cryptocurrencies moved sideways, while stock futures slid on Sunday evening amid investor concerns over escalating U.S.-Iran tensions.
Crypto Market Takes A BreatherBitcoin fluctuated sharply between $63,000 and $64,000 as trading volume rose 18% over the past 24 hours. Ethereum spiked to $1,842 in the late evening before retracing sharply, while XRP and Dogecoin traded sideways.
Over $150 million was liquidated from the cryptocurrency market in the last 24 hours, with $86 million in bullish longs wiped out, according to Coinglass data.
Bitcoin’s open interest fell 0.54% over the last 24 hours, broadly aligning with the drop in spot price. The majority of retail and whale derivatives traders on Binance remained long on the leading cryptocurrency.
"Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
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The global cryptocurrency market capitalization stood at $2.16 trillion, following a dip of 0.06% over the last 24 hours.
Stock Futures Slide On Iran TensionsStock futures traded in the red overnight on Sunday. The Dow Jones Industrial Average Futures fell 106 points, or 0.20%, as of 8:42 p.m. EDT. Futures tied to the S&P 500 dipped 0.27%, while Nasdaq 100 Futures slid 0.51%.
Iran–U.S. military confrontations intensified during the weekend, raising renewed concerns about maritime security and global energy supplies.
The U.S. Central Command said that they launched more strikes against Iran on Sunday to degrade “their ability to attack civilian mariners and commercial ships” transiting the Strait of Hormuz.
Analyst Sees Bitcoin ‘Déjà Vu”Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, predicts a strong Bitcoin bull run in the next cycle, warning that the previous “shallow” rally will cause many investors to sell “too early.”
“This cycle Bitcoin to $500,000+ is on the table,” the analyst made a bold projection.
Killa, another popular cryptocurrency commentator, said that at least 90% of the current bear phase is complete, noting a striking “déjà vu” between Bitcoin’s current consolidation near $64,000 and the $16,000–$22,000 bear market range in 2022-23.
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A technical rebound is brewing on the XRP chart, and its timing has coincided almost perfectly with Ripple's leadership carrying out an active effort to correct the narrative. While the token's price was setting new local lows in the $1.02–$1.06 range, the RSI on the TradingView chart began rising steadily from oversold territory.
In technical analysis, this bullish divergence means one thing — sellers are running out of steam, the bearish momentum is fading, and the asset is ready to reverse upward. XRP is now attempting to consolidate at $1.0914 while remaining above the psychological $1.00 level.
XRP price chart with David Schwartz recent post and RSI indicator, Source: TradingViewAt the same time, a full-scale social media drama has unfolded around the project's historic survival. It all began with revelations from Ripple CEO Brad Garlinghouse at the University of Kansas.
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What Ripple management's comments mean for the chartHe admitted that in December 2020, with the company reeling from the SEC lawsuit, Ripple's leadership briefly considered shutting down the firm and distributing its XRP holdings to shareholders. In the end, Garlinghouse and Chris Larsen decided to fight, which cost them $150 million in legal expenses but saved the company.
When media outlets picked up the story and began pushing headlines about capitulation and asset liquidation, Ripple CTO Emeritus David Schwartz sharply pushed back against the panic, saying that his previous comments had been taken out of context: "I never said Brad seriously considered shutting down the company."
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Schwartz recalled the pressure they were under at the time. The lawyers they had hired unanimously insisted that Ripple was "doomed and beyond saving," urging the company to settle immediately, while the personal lawsuits against its top executives were nothing more than pressure tactics from the SEC.
The legal battle did leave a negative mark on XRP, causing the token to lose momentum in global adoption and surrender market share to competitors. The market is clearly tired of old fears, so Schwartz's direct clarification, combined with the bullish signal on the chart, may give the token a strong chance of entering a sustained period of local consolidation.
Ripple CEO Brad Garlinghouse announced that they are seriously considering shutting down Ripple entirely after the US Securities and Exchange Commission (SEC) filed a lawsuit against the company in 2020.
Speaking at an event at the KU School of Business, Garlinghouse said that the SEC has virtually unlimited power and resources, making the decision of whether or not to fight the case extremely difficult.
According to Garlinghouse, one of the options Ripple had was to distribute its XRP holdings to shareholders and cease operations by notifying the SEC that it no longer held XRP. However, company management assessed that such a decision could lead to hundreds of employees losing their jobs.
Garlinghouse noted that Ripple chose to pursue legal action instead, stating that the company was prepared to undertake a long and costly litigation process to counter the SEC’s allegations and continue its operations.
In December 2020, the SEC filed a lawsuit against Ripple and its executives Brad Garlinghouse and Chris Larsen, alleging that the sale of XRP constituted an unregistered securities offering.
*This is not investment advice.
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The longstanding debate over whether Ripple’s XRP requires SWIFT for future global success has intensified following SWIFT’s announcement that its blockchain-based shared ledger is ready for early implementation, just nine months after development began.
SWIFT’s blockchain development fuels discussionSWIFT, a global financial messaging network used by thousands of banks worldwide, revealed progress in its digital asset strategy by preparing its blockchain-based shared ledger for rollout. The development has reignited speculation about whether SWIFT and XRP are destined to be competitors, partners, or parallel solutions with separate objectives.
Several market analysts maintain that XRP does not need SWIFT to pursue worldwide adoption. They highlight Ripple’s established infrastructure, which directly connects XRP to more than 13,000 banking and financial institutions without depending on SWIFT’s legacy intermediaries.
“XRP doesn’t need SWIFT. It already has access to more than 13,000 banks. It’s SWIFT that needs XRP.”
This viewpoint reflects a broader belief within the XRP community that Ripple, the company behind XRP, has spent years cultivating direct relationships with banks, regulators, and payment providers across the globe, sidestepping the traditional correspondent banking framework that SWIFT pioneered.
XRP’s independent growth and technologyCharuSan, a computer engineer and long-time XRP commentator, has underscored that XRP was not created to complement legacy payment networks but to offer a more advanced alternative. CharuSan argued that blockchain technology can replace outdated financial systems, setting XRP apart from models that rely on legacy intermediaries.
XRP’s ability to function independently from SWIFT is seen as a long-term advantage by some market commentators, positioning it for broader opportunities beyond supporting legacy systems.
Ripple’s blockchain infrastructure is designed to facilitate cross-border payments that are faster, less expensive, and more efficient than those processed using traditional financial rails. By eliminating dependency on a central clearing network, Ripple aims to streamline global settlements for banks and payment providers.
This philosophy has led parts of the XRP community to question whether direct integration or competition with SWIFT is either necessary or inevitable for XRP’s long-term growth.
Focus on real adoption over speculationSome voices within the network caution that speculation about SWIFT partnerships can distract from tangible development. Vet, an XRP Ledger dUNL validator, has urged investors to avoid spreading claims that SWIFT is already utilizing XRP technology without substantiated evidence. Instead, Vet emphasizes that measurable progress within the XRP Ledger should take priority when evaluating the asset’s prospects.
Vet’s stance is that ongoing technological improvements and real-world adoption will influence XRP’s future much more than theoretical discussions about potential partners.
This divergence of opinion highlights a central theme in the current debate: while some envision XRP as a possible replacement for much of the traditional financial infrastructure, others believe that its success will ultimately rest on the pace of technological progress and real adoption, regardless of developments involving SWIFT.
Broad consensus appears to be emerging around the idea that the XRP Ledger’s ongoing evolution, rather than any potential connection to SWIFT, will play the decisive role in shaping XRP’s global position.
Mini dictionary: SWIFT, or the Society for Worldwide Interbank Financial Telecommunication, is a network that enables secure messaging and transaction instructions among banks and financial institutions globally. SWIFT is not a payment system itself but serves as the communications backbone for cross-border financial operations.
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.
Cover image via depositphotos.com 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.
With payment volume on the XRP Ledger plummeting to almost zero over the past 24 hours, XRP's on-chain activity has suffered yet another severe blow. Recent network data shows that the amount of XRP transferred between accounts fell sharply from a local peak of more than 1.3 billion XRP at the start of July to just 40.5 million XRP on July 12.
Demand for the network is lowSuch a drop seems concerning at first. Because it shows real value moving throughout the network rather than speculative trading activity on exchanges, payment volume is one of the XRP Ledger's most closely watched metrics. Naturally, concerns about declining demand and usage arise when this number drops by more than 95% in a matter of days.
XRP/USDT Chart by TradingViewThe situation might not be as dire as it appears, though, based on past behavior. The characteristics of the XRP payment volume itself are a crucial component. A few large transfers between institutional participants, exchanges, or whale wallets frequently drive the metric's extreme volatility. Because of this, spikes and collapses often happen without having a long-term impact on the market value of XRP or the overall health of the network.
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Stabilization isn't happeningAccording to the chart, payment volume sharply increased around July 1 before quickly declining back to typical levels. Over the course of XRP's history, these patterns have repeatedly emerged. They frequently signify the completion of a few exceptionally large transactions rather than a long-term decrease in network activity. Whether a recovery can happen in the next 24 hours is the current question.
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Surprisingly, the answer is yes. In contrast to indicators like active addresses or wallet growth over the long term, payment volume can almost immediately increase. The number could return to the hundreds of millions of XRP in a single day with a few significant transfers. Because whale activity has a significant impact on the metric, historically, abrupt declines in payment volume have frequently been followed by equally abrupt recoveries.
XRP is still under pressure in terms of price. The asset is still trading below its main moving averages, and the overall trend is dominated by bearish momentum. However, the decline in payment volume does not necessarily indicate that the token itself will continue to decline.
For the time being, investors should view the near-zero payment volume reading as a cautionary signal worth monitoring rather than as conclusive evidence that XRP network activity has begun a protracted decline. Determining whether this was just a brief lull or the start of a longer-term slowdown will be crucial over the next 24 to 48 hours.
Recent on-chain data has revealed a sharp drop in payment volume on the XRP Ledger, with activity nearly reaching zero over the past 24 hours. The number of XRP tokens transferred between accounts declined dramatically from over 1.3 billion XRP at the start of July to just 40.5 million on July 12.
Sharp decline in network activityPayment volume is considered a crucial indicator of real value moving through the XRP Ledger, operated by Ripple Labs. This metric excludes speculative trading and instead measures tokens transferred directly between addresses — often linked to payments, settlements, and institutional fund flows.
Observers note that payment volume plunged by more than 97% in a matter of days, raising concerns about a rapid decrease in demand and usage across the network.
However, on-chain analysts caution that such extremes in payment volume are not unusual for XRP. Single large transfers by institutional participants, major exchanges, or so-called “whale” wallets frequently cause the metric to spike or fall dramatically over short periods.
Mini dictionary: Whale wallet, a term referring to a cryptocurrency wallet holding a substantial amount of a digital asset. Actions by whale wallets can cause large fluctuations in on-chain metrics due to the volume of their transfers.
Volatility in historical contextHistorical trends show that XRP Ledger’s payment volumes often experience abrupt increases and declines. For example, after surging at the beginning of July, payment volume quickly reverted to what analysts identify as typical activity levels. These patterns usually reflect several significant transactions, not a permanent shift in network health.
Such volatility means payment volume can rebound as quickly as it falls. Large individual transfers are capable of pushing the daily metric back up into the hundreds of millions of XRP within a single day, making it less reliable as a long-term network health indicator compared to metrics like active wallet growth.
DateXRP Payment VolumeCommentJuly 11.3 billion XRPShort-term spikeJuly 1240.5 million XRPNear-zero activityXRP price under ongoing pressureDespite the fluctuations in network volume, XRP’s price remains under significant pressure and continues to trade below major moving averages. Analysts describe the prevailing trend as driven by bearish momentum, which has so far limited any potential recovery in the asset’s value.
Still, a collapse in payment volume does not directly translate into an ongoing price decline for XRP. Network data from previous months suggests that recoveries in payment activity can occur quickly, depending on the movements of larger holders.
The sudden drop in payment activity does not always signify a long-term decline in real use or market sentiment for XRP, given the metric’s historic volatility due to whale transactions.
For now, analysts view the drop in payment volume as a warning sign, not proof of a prolonged slowdown in network activity. Industry participants are expected to watch closely over the next 24 to 48 hours to determine whether this decrease represents a brief lull or a longer-term trend.
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 has dropped nearly 70 percent from its July 2025 high of around $3.66, trading near $1.12 by early July 2026. That kind of drawdown tests even patient holders. But a growing number of chart watchers say the pain might be masking something bigger playing out underneath.
The Trend Line That Keeps Bouncing
An analyst pointed to a long term ascending trend line that XRP has followed since 2020, one that has already survived three major tests. Each time the price fell back to touch that rising support line, it bounced hard. The first came in April 2020 near 16 cents, followed by a run to nearly $2 a year later. The second came in mid 2022, followed by a climb toward 94 cents. The third arrived in late 2024, setting up the move to last year’s all time high.
Why the Fourth Test Matters
Now XRP may be approaching a fourth test of that same trend line, somewhere in the 74 to 80 cent range. That number matters because of what happened the last time XRP hit a fourth retest on an earlier version of this same structure. Back in February 2017, XRP bottomed near half a cent after three earlier trend line defenses going back to 2013. What followed was a climb to $3.31 by January 2018, a move of nearly 63,000 percent.
A Repeat Is Unlikely, But Not the Point
Nobody serious is predicting XRP repeats that exact percentage gain. The asset is far larger now, the market is more mature, and each retest since 2020 has already produced smaller percentage moves than the one before it. That is normal for an asset that has grown from a fraction of a cent into a multi billion dollar market. Smaller does not mean insignificant. Even a partial repeat of past cycles could still represent a major move from current prices.
The Level Everyone Is Watching
What matters most right now is whether XRP holds that 74 to 80 cent zone if it gets there. A successful defense would strengthen the case that the broader structure remains intact. A break below it, with no reclaim, would weaken the comparison to past cycles significantly.
Markets do not repeat perfectly, and old patterns fail more often than headlines suggest. But the setup gives holders a specific level to watch instead of reacting purely to short term price swings, and that distinction alone is shaping how traders are approaching the next few months.
Story Ends Here
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The XRP products continue to operate differently than those tracking BTC and ETH.
For weeks and weeks, the spot Ripple ETFs, alongside HYPE and sometimes SOL, dominated all cryptocurrency-related exchange-traded funds, while the market leaders suffered.
However, this trend has finally changed as the financial vehicles tracking the performance of the cross-border token turned red in the past week for the first time in over two months.
Streak Broken Although the actual numbers were not as impressive as they were back in October, November, and December last year when the XRP ETFs launched, they were still in the green for nine consecutive weeks. Moreover, the only week that broke that streak saw a minor $35.21K (not millions) in net outflows, so it doesn’t really count. Within this timeframe, the total net inflows rose from under $1.29 billion to a new all-time high of $1.49 billion as of July 2.
However, the tides finally turned in the past five business days. Interestingly, though, only one day was in the red, with $7.29 million leaving the funds on July 8. A minor $107.38K entered the funds on Friday, while the other three trading days saw no reportable action, according to SoSoValue data.
Spot XRP ETF Inflows. Source: SoSoValue This is rather concerning as XRP has seen similar net inflow-free days in the past, but that wasn’t the case in the last few months. Now, though, investors appear to have turned their attention away from Ripple’s token and back to the market leaders. As reported yesterday, both the Bitcoin and Ethereum ETFs recorded their first green week in two months, with net inflows of almost $200 million and $84 million, respectively.
XRP Price Stalls Despite the major net inflows for nine weeks, Ripple’s native coin failed to capitalize and record any substantial gains in that time. However, the net ouflows in the past week seem to have harmed it, as current data from CoinGecko shows a 3.2% decline over the past week.
XRP challenged the $1.15 resistance earlier this week, but it was halted there, and the subsequent rejection pushed it south to under $1.10. Although it has rebounded to that level now, the uncertainty continues as many analysts expect a major move ahead.
You may also like: XRP Stalls at $1.10: Could Quiet On-Chain Activity Be the Calm Before a Bigger Move? XRP’s On-Chain Data Flashes Warning While Sellers Continue to Dominate Japanese Firms Are Boosting BTC and XRP Holdings – SBI VC Trade Reveals Why The direction, as usual, is unknown, but the overall belief within the crypto community is that XRP has reached a decision point and it could either head below $1.00 soon or rocket toward new local peaks.
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.
TL;DR
XRP Ledger AI agents surpassed 1 million transactions, yet total value moved barely exceeded $5,000, showing bots are handling volume, not capital.Chandler Guo, a veteran Chinese Bitcoin miner, forecast a return to $120,000 within a year and a climb to $500,000 within five years, citing capped supply and ETF demand.Robinhood Chain's daily DEX volume hit $877.56 million, edging past Ethereum's $778 million, driven largely by the $CASHCAT memecoin.Spot crypto ETFs booked $281.8 million in net weekly inflows, ending an eight-week streak of outflows, while Bitcoin holds between $61,000 and $66,000.One million transactions for $5,000: Is XRPL's AI economy ready to grow up?A revealing situation has emerged on the XRP Ledger (XRPL) as autonomous AI agents have already completed more than 1 million transactions, yet the total value of these payments in XRP and the RLUSD stablecoin has barely exceeded $5,000, according to XRPL AI Hub.
The impressive one-million figure generated loud headlines, but it also exposed the reality: to secure a meaningful position in the market, the AI economy on the XRP Ledger needs to be measured in billions of transactions, not thousands of dollars.
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The low financial volume is a direct consequence of the structure of current AI traffic. Bots use the blockchain for microtransactions, paying fractions of a cent for API calls, seconds of GPU computing time, or access to text data.
State of agent economy on XRP Ledger, Source: XRPL AI HubXRPL handles these tasks effortlessly thanks to its minimal and predictable fees. Financially, however, the system is still running almost idle. One million transactions prove that machines can communicate with one another, but they are not yet bringing meaningful liquidity to the network.
For the AI ecosystem surrounding XRP and RLUSD to enter the major leagues, it must move beyond the "sandbox" stage and begin managing significant amounts of capital. Real volume will arrive when AI agents stop merely purchasing code and start independently managing corporate funds and tokenized real-world assets (RWAs).
Bitcoin at $500,000: Mining veteran Chandler Guo makes bold predictionProminent Chinese miner and early crypto investor Chandler Guo broke his silence on X with a concise prediction: Bitcoin will return to $120,000 within a year and rise to $500,000 over the next five years.
The main value of this statement lies in the author's background. Guo is not a random social media personality but an industry heavyweight who stood at the origins of industrial-scale Bitcoin mining in China. He rarely throws numbers around, which is why his Chinese-language post immediately captured the market's attention.
Chandler Guo predicts Bitcoin to reach $500,000 within 5 years, Source: XBitcoin is currently holding near $63,840, making the half-million-dollar target appear unrealistic. However, Guo's forecast follows a clear logic:
A return to $120,000 is realistic. Bitcoin already tested this level at its 2025 peak, so a return within the next 12 months appears to be a technically justified scenario.The mathematics of scarcity. Fewer than 1 million bitcoins remain to be mined out of the hard-capped supply of 21 million coins. Wall Street agrees. The $500,000 target by the end of the decade aligns with the long-term estimates of Standard Chartered analysts, who link global price growth to capital inflows through spot ETFs.What is the catch? Market history shows that before every major rally, Bitcoin tends to stage severe cyclical corrections that shake out excessively optimistic investors. Mining veterans may be confident about the future, but the speed at which their forecasts materialize will depend on liquidity conditions across global markets.
Robinhood vs Ethereum: How memecoins pushed the broker to the top of the crypto rankingsDefiLlama data recorded a rare shift in the on-chain economy as daily DEX volume on the relatively new Robinhood Chain surged to $877.56 million, surpassing Ethereum's $778 million.
The most remarkable part is the relationship between the figures. Robinhood Chain has only $131.51 million in total value locked. This means users are not simply storing money there but are moving it through the network at extraordinary speed.
Robinhood Chain, a layer-2 blockchain built on Arbitrum, launched on July 1 2026. Management initially planned to develop serious financial instruments and tokenized assets on the network, but retail traders had other ideas. The chain was immediately flooded by a wave of memecoin speculation.
The main hit was CASHCAT, a reference to the historical fact that company CEO Vlad Tenev originally wanted to name the brokerage CashCat. The token's market capitalization quickly surpassed $180 million, accounting for the lion's share of the network's activity.
Top blockchains by 24 hours DEX volume, Source: DefiLlamaThe network's success is also a victory for effective social media marketing. Robinhood understands its audience perfectly. While traditional banks publish dull reports, the broker's official account posts concise lines such as, "We're in a very crypto time of our lives," generating millions of views and creating powerful FOMO.
Vlad Tenev himself played along with the crowd on X. At the height of trading activity, he joked that the network had technically been created for serious DeFi, but that memecoins were also perfectly valid. For the crypto community, this sounded like a green light.
Without spending heavily on advertising, the broker began speaking the same language as crypto "degens" and started pulling liquidity away from other networks.
Should Solana be concerned? Probably not yet. This remains a local triumph for Robinhood, while the leading retail blockchain remains firmly in first place with daily volume of $1.133 billion and a massive TVL of nearly $5 billion.
Crypto market outlook: $197 million ETF comeback and the battle for Bitcoin's codeThe crypto market appears to have found a bottom. Spot ETFs ended an eight-week streak of $8.26 billion in outflows by recording their first $197 million in net inflows.
The market is now caught between renewed institutional demand, an internal developer split over BIP-110, and anticipation surrounding key inflation data. Bitcoin remains within the $61,000–$66,000 range, responding to a total of $281.8 million in capital inflows across all crypto funds.
US spot Bitcoin ETF performance and price action over the past week, Source: SoSoValueKey checkpoints:
ETFs return to the game. After a severe downturn, Bitcoin funds recorded $197 million in weekly inflows, led by BlackRock's IBIT with a net result of $292 million. Together with Ethereum funds, total net inflows reached $281.8 million, indicating that overt selling pressure may be running out of steam.Bitcoin holds its ground. BTC remains trapped between liquidity clusters at $61,000 and $66,000 and is confidently holding the $64,000 level despite external logistical shocks affecting global trade routes. A breakout above the $65,000 resistance level or a decline below the $61,000 support level will determine the direction of the broader two-month consolidation.The ideological battle over Bitcoin's code: BIP-110. The BIP-110 upgrade proposes sharply restricting transaction sizes on the Bitcoin network to suppress block-filling protocols such as Ordinals and Runes. The upgrade is currently supported by only 23% of nodes and 1% of miners' hash rate. The decisive battle for consensus, along with the risk of a chain split, is expected in August 2026, with 55% support required.Ethereum begins to regain strength. ETH rebounded from a low of $1,750, while the ETH/BTC pair climbed above 0.028 amid record withdrawals from Binance and growing long positions on Bitfinex. A sustained move above $1,820 would open the way for momentum toward $1,850–$1,900.The macroeconomic trigger. The release of the latest Consumer Price Index data will be the week's main catalyst. Inflation below expectations could trigger a powerful upward short squeeze. If the figures come in hotter than expected, bears could regain control and attempt to push the market below $60,000. You Might Also Like
Crypto markets held firm on Sunday, with Bitcoin (BTC) near $64,000, as digital assets absorbed fresh US strikes on Iran and the closure of the Strait of Hormuz once more.
The muted move breaks from earlier in the war. Bitcoin fell about 2% and slid toward $61,000 after June’s escalation, a far steeper reaction than today’s 0.33% dip.
US Launches Third Round of Strikes on IranIran declared the Strait of Hormuz closed and fired on a commercial vessel. The move defied a US demand to guarantee passage through the waterway.
In response, US Central Command (CENTCOM) launched a third round of strikes. Forces hit roughly 140 targets.
Those targets included missile and drone sites, naval assets, and coastal surveillance posts.
“During three nights of strikes this week, CENTCOM has struck more than 300 targets… to degrade Iran’s ability to attack civilian mariners and commercial vessels freely transiting the strait,” CENTCOM said.
The conflict widened across the Gulf. Iran claimed attacks on Bahrain, Kuwait, Jordan, Qatar, the UAE, and Oman.
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#بيان | تعرب وزارة الخارجية عن إدانة واستنكار المملكة العربية السعودية بأشدّ العبارات استمرار إيران في سلوكها المزعزع لأمن المنطقة واستقرارها، وانتهاكها لمبادئ القانون الدولي وميثاق الأمم المتحدة وميثاق منظمة التعاون الإسلامي وقواعد حسن الجوار، وذلك بتكرار الاعتداءات الإيرانية… pic.twitter.com/PlXIfEyKjR
— وزارة الخارجية 🇸🇦 (@KSAMOFA) July 12, 2026 Crypto Shrugs Off the EscalationDespite the escalation, major tokens barely moved. Bitcoin posted a 0.33% daily loss. Ethereum (ETH) traded around $1,801, up 2.18% over the past 7 days. XRP (XRP) and Solana (SOL) each fell less than 2% on the day.
Crypto Markets Show Resilience as US-Iran Conflict Escalates. Source: BeInCrypto MarketsOil markets, shut for the weekend, could open higher on Monday. Brent held near $76 a barrel on Friday. Another prolonged closure could rattle energy markets and lift prices as traders price in tighter supply.
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According to Santiment, XRP Ledger activity has fallen to unusually low levels lately. On the 9th and 10th of July, the network saw only 25,350 and 24,887 daily active addresses.
Source: Santiment These figures were the second-lowest in 2026, Santiment wrote. Moreover, the daily network growth was also at a low figure of 2,130 – The lowest since November 2024.
Traders and investors seemed to be waiting on the wings to buy a real move instead of chasing a shallow price bounce, such as the ones that came in mid-June and early April.
The spot volume trends backed this idea up. The spot CVD for the past 90 days on CryptoQuant was in neutral territory. This metric tracks the aggressive, or taker, participation in the market.
The spot CVD trends have been in decline. Though it was not yet taker sell-dominant, it hinted at reduced buying since March. There was a brief flurry of taker buy activity in May, but it quickly evaporated. At the time, XRP’s price reacted by bouncing towards $1.55, before slumping to $1.10.
Source: Glassnode The exchange net position change has been negative in recent months. Negative values imply XRP tokens flowing out of exchanges, likely to cold storage and accumulation.
However, for context, it was not as heavy as the outflow bouts in 2025.
XRP funding rates stay at extreme lows Source: CryptoQuant Against this backdrop of muted spot buying pressure on XRP, analyst Darkfost believes that the altcoin’s speculative bais might also be firmly bearish.
The 30-day aggregate of funding rates has been negative throughout 2026. Despite the over 70% correction since the coin hit $3.66 in July 2025, the bearish consensus can serve as a clue for a medium-term reversal.
In April 2025 too, sustained negative aggregate funding rates were seen. This correction was followed by a 126% rally, the analyst observed.
Only time will tell if a similar scenario will play out. Spot volume trends need to undergo a big shift to enable such a rally, that is for sure.
Final Summary XRP’s spot demand has been falling and the price was moving sideways about the $1.10 support. Strong bearish consensus even after a deep price correction might be a medium-term bullish reversal sign.
From SBI's expanding Ripple partnership to potential crypto ETF reforms, Japan's role is growing.
Even in times when XRP and the company behind it were not in good shape in their home country, Japan has long stood out as a major ally. However, the most recent regulatory and institutional developments suggest that the country could play an even bigger role in their future.
Over the past several months, Japan has accelerated efforts to modernize its digital asset framework and has proposed legal reforms to classify many cryptocurrencies as financial instruments, paving the way for spot ETFs. It also introduced a more investor-friendly tax regime.
Although the legislation still needs to complete the entire process before such financial vehicles are allowed to launch, the direction has become increasingly clearer. This could be significantly beneficial for XRP.
XRP, Ripple, and Japan For starters, SBI continues with its pro-Ripple initiatives. Both parties have been tangled for years through SBI Ripple Asia to expand cross-border payments across the region. Meanwhile, SBI VC Trade remains one of Japan’s largest XRP-friendly exchanges.
Most recently, Ripple and SBI announced that the former’s stablecoin, RLUSD, has launched in the country after receiving approval from the Japan Financial Services Agency (JFSA), which expanded their partnership into the regulated stablecoin market.
SBI has also filed for a product that could eventually become the first Japan-based XRP ETF. Instead of pairing the two largest cryptocurrencies by market cap, the proposed products went for BTC and XRP, highlighting the firm’s conviction that Ripple’s token could become a core institutional asset in the country.
Institutional Demand Given the relatively short history of the cryptocurrency industry and the lack of regulation in most jurisdictions, proper regulatory frameworks can open the door for additional investments from larger players and institutions. Japan has been at the forefront of crypto regulation, and XRP has generally benefited from this.
You may also like: Circle Receives Final Green Light to Establish National Trust Bank Ripple Rolls Out New XRPL Upgrade, but Less Than Half of Nodes Have Upgraded Ripple Lands Major XRP Partnership as Garlinghouse Shares Rare Personal Moment Unlike the prolonged legal battle Ripple endured in the US against the SEC, Japanese regulators have long treated its token as a crypto asset rather than a security. Combined with SBI’s banking relationships and Ripple’s growing enterprise presence, that regulatory certainty has helped create one of XRP’s strongest international footholds.
If Japan indeed approves spot crypto ETFs, XRP could be among the earliest beneficiaries, thanks to its history and the infrastructure already in place there.
