Track market-moving stories before they get noisy

CROWDFUNDINSIDER: Bitcoin Suisse Obtains MiCA Authorization and Launches European Expansion Efforts

Bitcoin fell to $58,000 on Thursday before partially recovering, extending a correction that has pushed the world's largest cryptocurrency to its lowest levels since late 2024, as a hotter-than-expected core PCE inflation reading stoked fears that the Federal Reserve will keep interest rates elevated for longer.

The May Personal Consumption Expenditures price index — the Fed's preferred inflation gauge — showed core prices rising 3.4% year-over-year, its highest level since October 2023, while the headline index accelerated to a 4.1% annual rate driven in part by higher energy prices. Monthly core PCE ticked up 0.3%.

"Bitcoin deepens its correction as inflation strengthens the Fed's hawkish stance," Simon-Peter Massabni, Head of Retail Sales at XS.com, said. The data confirms the Federal Reserve is unlikely to pivot toward rate cuts in the near term, he added, with the central bank already showing less willingness in recent communications to consider easing.

Can-Luca Koymen, investment strategist at Sygnum Bank, read the print similarly.

"This is a print-by-print Fed now, and the number that also matters is this core PCE print, not just CPI, since that's the Fed's preferred gauge," Köymen said.

Sygnum's base case is for the Fed to hold across the next two to three meetings, a more hawkish call than Fed funds futures, which priced roughly a 52% probability of a September rate cut heading into the data.

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ETF streak and gamma pressure U.S. spot bitcoin (BTC) exchange-traded funds recorded $696 million in net outflows on June 25, stretching a redemption streak to six consecutive sessions, according to SoSoValue data.

The U.S. spot ether (ETH) ETF cohort logged a parallel six-day outflow streak, shedding $81.9 million on the same day.

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Mounting ETF pressures arrived ahead of Friday's $10.6 billion quarterly options expiry on Deribit, the largest of 2026 and accounting for roughly 37% of total bitcoin open interest on the platform.

With roughly 80% of that notional out of the money, the expiry settled with max pain at $72,000–$74,000, far above spot, undermining the price-pinning mechanics that max pain theory predicts, as The Block reported.

Bitfinex analysts had warned that bitcoin trading below the gamma flip at $68,000–$70,000 placed the entire range in negative-gamma territory, a regime where dealer hedging amplifies moves rather than containing them.

The $60,000 put wall, anchored by roughly $450 million in June 26 puts, constituted the structural floor heading in.

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Gabe Selby, head of research at CF Benchmarks, pointed to the $50,000–$60,000 zone as a historically durable base.

"Bitcoin first established this level as support in mid-2024, consolidating here following the U.S. spot ETF launch rally, and it's held through everything thrown at it since: the yen carry unwind, the election cycle, and every other high-time-frame retest," Selby said.

Whale conviction vs. macro headwinds Lacie Zhang, research analyst at Bitget Wallet, argued the correction reflects a selective rather than broad flight from crypto.

BTC dominance holding near 55% while prices fell indicates capital is rotating into higher-quality assets rather than exiting the space entirely, she said, with blue-chip Layer 1s and yield-generating sectors absorbing defensive flows.

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Zhang flagged Friday's post-expiry positioning reset — not the PCE print itself — as the more consequential near-term variable. In her view, if ETF outflows simply stabilize and volatility normalizes after the quarterly book clears, bitcoin's recovery could overshoot current consensus estimates.

Kyle Rodda, senior financial market analyst at Capital.com, contextualized the macro noise.

Wall Street trading was choppy despite clearing two meaningful risk events, namely Micron's strong earnings beat and the PCE data, with Apple's price hike announcement and end-of-quarter portfolio rebalancing generating most of the intraday volatility, he wrote.

The downside was concentrated in tech names that had significantly outperformed through the quarter, consistent with fund managers trimming winners into month-end.

Cycle bottom debate Ki Young Ju, chief executive of CryptoQuant, cast doubt on the idea that bitcoin is approaching a cycle trough.

His 4-year rolling realized price risk/reward ratio has touched the realized price at every major historical cycle bottom. As of Friday, bitcoin remains well above that level, suggesting the risk/reward has not yet shifted decisively in favor of buyers by historical standards.

While the bottom discourse continues to garner participants, Bitwise CIO Matt Hougan previously argued that whether the top is in offers the more convincing focal point.

Bitcoin was trading around $59,000 on Friday, still below the $60,000 psychological level it breached on Thursday when it hit its intraday low of $58,000. Ether changed hands for under $1,525 around the same time, The Block’s price page shows.

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© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

BARRONS: Strategy Stock Mired In Worst Losing Streak Since Late 2022 as Bitcoin Under $60,000

PANews, June 26 – According to Bloomberg, Bitcoin’s market cap has shrunk by about $1.3 trillion since its peak last year, with its price falling below $60,000. Several veteran investors believe the market is now near the "bottom range" of previous cycles, though the true bottom may not form until late summer or even September. Early investor Bruno Ver expects Bitcoin could dip to around $50,000; CryptoQuant estimates Bitcoin's "realized price" at roughly $53,400, a level historically viewed as a relatively reliable bottom reference; multiple models from Glassnode suggest a potential bottom range of $37,000 to $60,000. At the same time, spot Bitcoin ETFs continue to see net outflows, retail funds are rotating into AI concept stocks, Strategy Inc.'s financing model is under pressure, and the Fear and Greed Index has fallen to "extreme fear," indicating that market sentiment remains pessimistic.

Strategy, the company that turned a sleepy enterprise software firm into the world’s largest corporate Bitcoin piggy bank, now controls approximately 4% of Bitcoin’s total supply. CEO Phong Le used the stat as a rallying cry during a period of market volatility, framing the firm’s relentless accumulation as a feature, not a bug, of uncertain times.

The company holds 847,363 BTC on its balance sheet, valued at roughly $75.65 billion. To put that in perspective, there will only ever be 21 million Bitcoin. Strategy owns nearly one in every 25 of them.

The numbers behind the buying spree In late May, the firm sold 32 BTC at an average price of around $77,135. That sale represented approximately 0.004% of its total stash.

Strategy scooped up approximately 1,550 BTC in early June at an average price of $65,332 per coin. Additional purchases in June included batches of 520 BTC and 1,587 BTC, with prices ranging from $63,000 to $67,000.

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Le has suggested the company may pursue capital raises in the tens of billions of dollars to keep funding Bitcoin acquisitions. The company has already introduced STRC perpetual preferred shares as one mechanism to raise cash specifically earmarked for Bitcoin purchases.

The Saylor blueprint, executed by Le It’s impossible to discuss Strategy’s Bitcoin thesis without acknowledging Michael Saylor, who pioneered the entire concept of a corporate Bitcoin treasury back in 2020. Saylor stepped into the Executive Chairman role, leaving the CEO title to Phong Le, but the philosophical DNA remains unchanged.

Le has articulated holding intentions that stretch decades into the future, with a timeline that could extend to 2065.

What this means for investors When a single entity controls 4% of a finite asset’s supply, its behavior becomes a market-moving variable. Every purchase Strategy makes removes Bitcoin from circulation, tightening the already constrained supply.

The recent buying activity in the $63,000 to $67,000 range suggests Strategy views current prices as attractive.

If Strategy successfully raises tens of billions in new capital for Bitcoin purchases, the demand shock could be significant. STRC perpetual preferred shares represent a funding instrument that lets the company buy Bitcoin without diluting common shareholders in the traditional sense.

A company with $75.65 billion in Bitcoin and a software business that generates a fraction of that in revenue is, by definition, concentrated. If Bitcoin enters a prolonged downturn, Strategy’s balance sheet takes the full hit, and MSTR shareholders feel every bit of it.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Michael Saylor broke his public silence on June 26 with a post on X reaffirming Strategy’s commitment to Bitcoin, as the company faces a securities investigation and widening pressure across its capital structure.

Rosen Law Firm launched the probe, examining whether Strategy executives made materially misleading statements across five linked securities. The company has issued no formal response.

Saylor Doubles Down on Bitcoin FocusOn X, Saylor offered no direct comment on the probe. Instead, he framed volatility as a structural test. He signaled continued commitment to credit quality and long-term value creation.

Volatility tests every capital structure. Strategy remains focused on Bitcoin, disciplined capital allocation, credit quality, and long-term value creation. We appreciate our investors and will continue to execute with transparency and resolve. $MSTR

— Michael Saylor (@saylor) June 26, 2026 Michael Saylor. Source: XThe statement is notable for what it omits. It makes no mention of the class action interest gathering around the firm or the sharp declines across Strategy’s preferred securities. Saylor focuses on capital discipline, a message directed at both equity holders and creditors.

Strategy holds 847,363 Bitcoin (BTC), more than 4% of all Bitcoin that will ever exist. Its average acquisition cost sits near $75,500 per coin, well above current prices. That gap compressed the MSTR premium investors once paid for leveraged Bitcoin exposure. It also sharpened scrutiny on how the company continues to fund new purchases.

Strategy built much of that position through multiple classes of publicly traded preferred stock. Those instruments now sit under pressure as Bitcoin prices weaken and investor confidence in the dividend model erodes.

Market Pressure Tests That ConvictionThe day before Saylor posted, critic Peter Schiff escalated his criticism of Strategy’s declining market performance.

He argued MSTR has fallen 84% from its all-time high. Schiff also noted that STRC dropped 25% from par, now carrying an implied yield of 15.3%. Saylor’s post served as an indirect rebuttal to those attacks without addressing them directly.

Questions about STRC’s long-term sustainability have grown sharper. The preferred stock’s dividend structure costs an estimated $1.2 billion annually. Strategy disclosed a $1.4 billion cash reserve on June 22, barely a year of cover at current rates.

Whether Saylor’s reaffirmation steadies investor confidence or the probe escalates into a formal complaint may define Strategy’s near-term trajectory.

In brief Bitcoin slipped below $60,000 to an intraday low of $58,189, down 6.4% over the week and near its lowest level since September 2024. U.S. spot Bitcoin ETFs shed just under $692 million on Thursday, their biggest one-day outflow since late May. A $10.6 billion options expiry hits Friday, while more than $1.1 billion in leveraged crypto bets were liquidated over the past 24 hours. Bitcoin dipped below $59,000 Friday morning, dragged down by a fresh wave of ETF selling just as one of the year's biggest options expiries comes due.

The largest cryptocurrency was trading around $59,100 on Friday, down 6.4% over the past week and roughly 53% below the record $126,080 it set in October. It changed hands in a 24-hour range of $58,189 to $60,724, leaving its market cap near $1.18 trillion.

On prediction market Myriad, owned by Decrypt's parent company Dastan, traders expect Bitcoin's next move to take it to $55,000, placing a 77% chance on that outcome, up from 72% at the start of the week.

The slide came as U.S. spot Bitcoin ETFs bled some $691 million on Thursday, their largest single-day outflow since May 27, according to Farside Investors data. The weakness runs deeper than one session. Annual growth in U.S. ETF Bitcoin holdings has slumped to "basically zero" for the first time since the funds launched in 2024, with the ETFs now adding to Bitcoin's supply rather than soaking it up, CryptoQuant head of research Julio Moreno told Milk Road Wednesday. For a bottom to form, he said, that buying needs to stop shrinking and start accelerating again.

The selling sets an uneasy stage for Friday, when about $10.6 billion in Bitcoin options expire on Deribit, the year's largest quarterly settlement. With Bitcoin trading far below the roughly $72,000 "max pain" level, some 80% of those contracts are on track to expire worthless. The $60,000 mark "remains the definitive line in the sand," said Mike McCluskey, co-founder of tokenization platform tx. Given heavy put positioning at that strike, he said, a successful defense "would confirm that dip buyers maintain control," while a breach would “likely accelerate the downside in this thin liquidity environment.”

The pressure has already torched leveraged traders. Over $1.1 billion in leveraged crypto positions were liquidated over the past 24 hours as the drop caught bullish bets offside, $875 million of which were longs, according to CoinGlass.

Behind the slide is a tighter macro backdrop. Bitcoin has weakened since new Fed Chair Kevin Warsh's hawkish debut, with traders bracing for higher-for-longer rates. The drop briefly took BTC to its lowest level since September 2024 this week, dipping below its 200-week moving average—a level that has “historically served as a critical psychological and technical floor,” according to McCluskey.

In a Thursday AMA, Galaxy Digital CEO Mike Novogratz said Bitcoin's bull case "revolves on two things,” the passage of the Clarity Act, and a Fed rate cut. The war in Iran "has slowed the cutting cycle down," he said, adding that “When we see the war end and oil prices go back to $60 then you'll start to see this idea of, maybe that opens the door for a late fourth quarter rate cut, or even early first quarter rate cut the next year.” Until a fresh spark arrives, he sees Bitcoin range-bound, waiting on "some new story" to climb higher.

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Table of contents

XRP is at $1.04. Down 4.2% today. Down nearly 8% on the week. It is the weakest major coin on the board, again.

And it is getting close to the one number that matters: $1.00.

Let me lay out exactly where things stand, because this is a tense moment for XRP holders and there is no point dressing it up.

The setup is ugly XRP has fallen harder than Bitcoin, harder than Ethereum, harder than Solana this week. That is not a coincidence. XRP is a high-beta coin. When the market drops, it drops more. Right now the whole market is dropping, with Bitcoin at a 20-month low, so XRP is taking the worst of it.

The chart is bearish. Price is below every major moving average. Sellers keep breaking support levels on heavy volume. Every bounce has failed. This is a downtrend, plain and simple.

And the price is now sitting just four cents above $1.00.

Why $1 is the line $1.00 is not just a round number. It is the floor XRP has defended this entire correction. Hold it, and the structure survives. Lose it, and you risk a fast move lower as the last line of defense fails and stops get triggered.

At $1.04, that floor is within striking distance of a single bad day. That is the tension.

Washington just made it harder Here is the part that stings. XRP’s biggest catalyst was supposed to be the CLARITY Act, the bill that would finally classify XRP as a commodity and end years of regulatory limbo. It just hit a wall.

Two problems. First, nearly 100 Catholic bishops sent a letter to the Senate opposing the bill, arguing one of its provisions weakens safeguards against human trafficking. Second, a separate political fight over a housing bill has jammed up Congress, and the CLARITY Act is now stuck behind it. Next real checkpoint: a July 17 hearing.

So the catalyst that was supposed to lift XRP just got pushed further out. Bad timing, with the price already on the ropes.

It is not all bad, to be fair Step back from the price and the long-term picture is steadier than the chart suggests. XRP ETFs have been pulling in money for weeks. Ripple keeps signing institutional deals and expanding through the DTCC tokenization group. The cross-border payments use case is real and it is not going anywhere.

The CLARITY delay is a setback, not a death sentence. The bill is still alive. July 17 is a real date on the calendar.

So you have got a weak price and a delayed catalyst fighting against a long-term story that keeps getting stronger. Those two things are pulling in opposite directions. The next few weeks decide which one wins.

The levels Down: $1.00 is the line. Below it, $0.95 then $0.90.

Up: reclaim $1.12 first, then $1.20 to say the downtrend is easing.

Until XRP gets back above those levels, every bounce is a selling opportunity for the bears.

Bottom line XRP at $1.04 is the weakest major coin this week, four cents from a $1 floor it has to hold, with its big catalyst stalled in Washington until at least July 17. Near-term, this is tough, no way around it.

But the institutional foundation underneath, ETF inflows, Ripple deals, the DTCC role, keeps building while the price bleeds. Watch $1.00. Everything hinges on it. Hold it and XRP lives to fight another day. Lose it and the next leg down opens up. That is the whole story right now, and it comes down to four cents.

FAQ What is the XRP price today?

XRP is trading at $1.04 on June 26, 2026, down 4.2% on the day and nearly 8% on the week, the weakest performer among major coins and closing in on the critical $1.00 level.

Will XRP fall below $1?

It is a real risk. At $1.04, XRP is within a single bad day of $1.00, the floor it has defended all correction. Sellers keep breaking support on heavy volume. Holding $1 keeps the structure intact; losing it opens $0.95 then $0.90.

Why is XRP falling more than other coins?

XRP is a high-beta coin that falls harder than Bitcoin in selloffs. With the market at a 20-month low and a liquidation-driven decline, XRP is taking the worst of it, compounded by a stalled CLARITY Act.

What happened with the CLARITY Act?

Nearly 100 Catholic bishops sent a letter opposing it over trafficking-safeguard concerns, and a separate housing-bill fight has jammed Congress. The bill is stalled, with a July 17 hearing as the next checkpoint.

What are the key XRP levels to watch?

Down: $1.00 is the critical line, then $0.95 and $0.90. Up: XRP needs to reclaim $1.12, then $1.20 to signal the downtrend is easing.

This is not investment advice. Cryptocurrency is highly volatile. Always do your own research.

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Simeon is a detail-driven editor who sharpens every piece with clarity and precision, ensuring clean, consistent, and professional content throughout.

Ripple CTO emeritus David Schwartz has pushed back on a fresh social media debate over whether XRP existed before Bitcoin. 

Summary

Schwartz said Fugger’s 2004 idea was a payment network, not XRP or decentralized assets. XRPL history places XRP’s creation in 2012, years after Bitcoin launched in 2009 officially. The debate shows how older RipplePay ideas still drive confusion around XRP’s real origin. The exchange began after Crypto Dyl News claimed on X that “Bitcoin was NOT the 1st” and that XRP was created in 1988.

That claim drew a question from XRP community user MitchRob, who asked Schwartz whether Ryan Fugger had conceptualized XRP and the XRP Ledger before or after Bitcoin. Schwartz replied that Fugger had conceptualized a decentralized payment and settlement network around 2004, well before Bitcoin.

Schwartz added one key limit to that answer. He said Fugger’s idea did not include decentralized assets. That distinction separates RipplePay, Fugger’s early payment concept, from XRP and the XRP Ledger, which arrived later.

Ryan Fugger built RipplePay, not XRP Fugger’s RipplePay concept dates back to 2004. It focused on payments, IOUs and trust lines between users. It did not operate as a blockchain in the modern crypto sense, and it did not include XRP as a native asset.

Ryan Fugger conceptualized a decentralized payment/settlement network (but without decentralized assets) around 2004, well before bitcoin.

— David 'JoelKatz' Schwartz (@JoelKatz) June 26, 2026 Schwartz’s answer makes that point clear. He wrote that Fugger conceptualized a decentralized payment and settlement network “but without decentralized assets” around 2004. That means the idea came before Bitcoin, but XRP itself did not.

The official XRP Ledger history page places XRP’s launch in 2012. It says Schwartz, Jed McCaleb and Arthur Britto built a distributed ledger that aimed to improve on Bitcoin’s limits. The ledger included a native asset that became XRP.

The XRPL learning portal also says the three developers joined forces in 2011 to create a faster and more scalable digital asset. That timeline puts XRP after Bitcoin, not before it.

XRP origin debate continues online MitchRob later asked whether Satoshi Nakamoto may have drawn any inspiration from Fugger’s earlier concepts. He also asked which network was built with a better framework for payments and settlement.

Schwartz had not answered that follow-up in the provided thread at the time of writing. The question remains speculative because no public evidence in the thread shows that Satoshi used Fugger’s work when designing Bitcoin.

The confusion comes from the Ripple name. Fugger’s RipplePay project came before Bitcoin, while the XRP Ledger came after Bitcoin. Ripple Labs later used the Ripple name, but the technical system behind XRP was built separately.

As previously reported, David Schwartz recently explained his XRP Ledger role after stepping back from daily leadership. The report noted that he remains CTO emeritus and one of XRPL’s co-creators.

XRPL history still matters The debate comes as XRP Ledger development continues. In a previous article, crypto.news discussed Schwartz backing the XRP Ledger 3.2.0 upgrade, which renamed the core server software from rippled to xrpld.

That update moved XRPL further away from older Ripple-branded software names. It also added cleanup fixes for features tied to DeFi tools, vaults, lending, permissioned domains and token functions.

Previously, crypto.news explored XRPL’s growing tokenized finance use cases. Schwartz said XRPL use is expanding from payments into tokenized assets, stablecoins and other financial tools.

The latest exchange does not change XRP’s history. Fugger helped shape an early payment idea before Bitcoin. XRP and XRPL, however, began later as separate code written by Schwartz, McCaleb and Britto.

David Schwartz, who served for many years as Ripple’s Chief Technology Officer and now holds the title of CTO Emeritus, has issued a direct response to longstanding debates over the origins of XRP. Schwartz categorically denied claims that Canadian developer Ryan Fugger created the XRP token.

RipplePay at the center of the debateAt the heart of these claims lies the RipplePay system, established by Fugger in 2004. Launched five years before Bitcoin, RipplePay’s similar name led some in the crypto community to incorrectly credit Fugger as the founder of XRP. In his latest comments, Schwartz emphasized that this perception is not accurate from either a technical or historical perspective.

According to Schwartz, XRP’s true history began in 2012, and any effort to trace a “hidden founder” back to earlier times lacks technical basis.

Schwartz outlined that Fugger’s 2004 RipplePay initiative was an ordinary payment system based on mutual trust between users. This system had neither a blockchain foundation nor a digital coin. The technical underpinnings associated with XRP emerged only in 2012, after Chris Larsen and Jed McCaleb acquired the RipplePay platform from Fugger.

Emphasis on building the code from scratchSchwartz explained that the team—later known as OpenCoin and eventually Ripple Labs—acquired RipplePay mainly for its brand value and memorable name, not for its technology. He stressed that the technical infrastructure was completely rebuilt. Jed McCaleb, Arthur Britto, and David Schwartz wrote entirely new code to develop the XRP Ledger (XRPL) and XRP token. The consensus is that only the name survived from the old system.

Ripple is widely recognized for its cross-border payment technologies. The XRP Ledger stands out as the open-source, distributed system that supports XRP. Schwartz’s statement was issued as conspiracy theories regarding the origins of XRP resurfaced on social media.

Old patents reignited rumorsSome of these theories cited Schwartz’s distributed computing patent applications filed between 1988 and 1991. These documents have led to periodic speculation that Schwartz could be Satoshi Nakamoto, the enigmatic creator of Bitcoin. Even further, certain XRP supporters have pointed to these patents as supposed evidence that the coin was secretly developed under the influence of the US government.

Mini glossary: Distributed computing refers to systems in which transaction and data processing workloads are shared across multiple computers, rather than being handled by a single central entity. Although this concept shares some similarities with modern blockchain structures, early distributed computing patents alone do not represent a direct foundation for today’s crypto networks.

Schwartz rejected these interpretations, arguing that his late-1980s developments are technologically outdated and unrelated to the modern architecture of XRP Ledger. As he explained, the efforts to link his own patents or Fugger’s earlier project to the birth of XRP simply fit available facts into appealing narratives.

With this recent clarification, Schwartz reaffirmed that XRP’s origins date to 2012. He reiterated that the token’s creation was based on new code and a completely reimagined technical structure; earlier claims to founding are regarded as historical curiosities rather than technically valid arguments.

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.

A conditional national trust bank charter, a pending Federal Reserve master account, and a string of acquisitions in brokerage, payments, and treasury. Ripple is assembling a full regulated-finance stack. The benefits flow first to its stablecoin and the company itself. What is left for XRP is the question.

Summary

Ripple has assembled a full regulated-finance stack: a conditional national trust bank charter, a pending Federal Reserve master account bid, and acquisitions in prime brokerage, payments, and treasury services. The charter and master account primarily benefit RLUSD, Ripple’s stablecoin, whose reserves would sit under federal and state oversight, not XRP directly. A national trust bank cannot take ordinary deposits or carry federal deposit insurance, so the real prize is direct access to Federal Reserve payment rails and custody of its own stablecoin reserves. For XRP, the benefit is indirect: a more legitimate, bank-grade Ripple strengthens the whole ecosystem and XRP’s role as a bridge asset, but it creates no direct token-demand mechanism. This is the same pattern that defined XRP through 2026, in which Ripple’s wins flow first to the company and RLUSD, with the token benefiting slowly, if at all. Ripple is turning itself into a bank, or something very close to one, and it is doing it methodically.

Over the past year the company won conditional federal approval to operate a national trust bank, applied for a Federal Reserve master account that would give it direct access to the central bank’s payment systems, and bought its way into prime brokerage, payments, and corporate treasury services through a series of acquisitions.

Add the dollar stablecoin it already issues, the 70-plus regulatory licenses it holds around the world, and a fresh European license that lets it passport services across 30 countries, and the picture is unmistakable.

A company once known mainly for a cross-border payments network and a controversial token is assembling the full apparatus of a regulated financial institution.

For XRP holders, who have watched the token grind sideways near a dollar through a year of Ripple triumphs, the natural question is what all of this means for them.

The honest answer is more complicated, and more sobering, than the headlines suggest, because almost every piece of Ripple’s banking build benefits the company and its stablecoin first, and the token only indirectly.

This piece works through Ripple’s transformation into a regulated financial institution and what it actually delivers for XRP. It covers the banking stack Ripple is assembling, what a national trust bank can and cannot do, the real prize of a Federal Reserve master account, why the charter is mostly a stablecoin story, what genuinely accrues to XRP, the bull case within the bank build, and what holders should watch.

The goal is to separate the real significance of Ripple becoming a bank, which is considerable for the company, from the wishful assumption that everything good for Ripple is automatically good for the token, which 2026 has repeatedly shown to be false.

A payments company is turning into a financial institution Take the full measure of what Ripple has built, because the strategy only becomes clear when you see the pieces together.

The foundation is a conditional charter to operate a national trust bank, granted by the Office of the Comptroller of the Currency, the federal regulator that supervises national banks. The OCC conditionally approved Ripple National Trust Bank alongside other crypto firms in a broader wave of national trust bank approvals.

That federal approval matters because it moves Ripple deeper into the regulated banking perimeter without turning it into an ordinary retail bank.

A subsequent rule expanded what such trust banks are allowed to do, turning what would have been a narrow custody license into something with real operational scope, including digital-asset custody, stablecoin reserve management, and certain payment services.

On top of the charter, a Ripple subsidiary applied for a Federal Reserve master account, the account that would connect Ripple directly to the central bank’s payment rails.

And around that regulatory core, Ripple has been buying capabilities: a prime brokerage, a payments business, and a corporate treasury-services firm, each acquisition adding a piece of the institutional-finance stack.

Layer in the rest and the ambition is obvious. Ripple issues a dollar-pegged stablecoin that has grown past $1 billion in market value.

It holds dozens of regulatory licenses across jurisdictions, and it recently secured preliminary European authorization that lets it offer regulated services across the entire European Economic Area.

That is where Ripple’s European license fits into the larger build. The company is not only chasing U.S. banking access; it is trying to make its regulated-finance stack portable across major markets.

Taken individually, any one of these is a notable corporate step. Taken together, they describe a single, coherent strategy: to become the institutional infrastructure layer for crypto-native finance.

Ripple wants to be a regulated entity that banks and corporations can trust to custody assets, manage stablecoin reserves, settle payments, and connect to both the traditional financial system and the blockchain world.

Ripple is not dabbling in banking. It is building a bank-grade financial institution deliberately, piece by piece.

The question for a token holder is where, in all of this carefully assembled machinery, XRP actually fits.

What a national trust bank is, and what it is not Before assessing what the charter means for XRP, it is worth being precise about what a national trust bank actually is, because the word “bank” carries connotations the charter does not deliver.

A national trust bank is not a retail bank. It cannot take ordinary deposits, cannot offer checking or savings accounts, and does not carry federal deposit insurance, the protection that backs ordinary bank deposits.

What it can do is custody assets, provide fiduciary and trust services, manage reserves, and, under the expanded rule, handle digital-asset custody and certain payment-related functions.

Headlines that say “Ripple becomes a bank” are gesturing at something real, but they compress away an important distinction.

That distinction matters for understanding the charter’s purpose. Ripple’s trust bank exists primarily to serve Ripple’s stablecoin business.

Its core planned function is to custody and manage the reserve assets that back the stablecoin, which today are held through a separate trust entity, and to provide custody to institutional clients.

By bringing reserve management in-house under a federal charter, Ripple gains tighter control, removes reliance on third-party custodians, and obtains a regulatory standing that few stablecoin issuers can match: oversight at both the federal level, through the national chartering regulator, and the state level, through New York’s financial regulator.

That dual supervision is a genuine selling point to institutions weighing whether to trust Ripple’s rails.

This is also why the fight over trust charters matters. Senator Elizabeth Warren and banking groups have challenged the idea that crypto firms with OCC trust charters should be treated like bank-grade institutions, arguing that they could act like crypto banks without the same restrictions.

NEW: Sen. Elizabeth Warren joins banks to challenge Ripple and other crypto firms with OCC trust charters. Claims they act as crypto banks avoiding regulatory obligations pic.twitter.com/ojuHDUd73U

— crypto.news (@cryptodotnews) May 28, 2026 The crypto industry has pushed back. The Digital Chamber called on the OCC to uphold crypto trust bank charters for firms including Coinbase, Ripple, Circle, and BitGo, arguing that the charters are part of bringing digital assets into regulated finance rather than keeping them outside it.

NEW: Digital Chamber calls on OCC to uphold crypto trust bank charters for Coinbase, Ripple, Circle and BitGo against Sen. Warren’s claim of banking law violations pic.twitter.com/qBLrmTOD14

— crypto.news (@cryptodotnews) May 27, 2026 But notice what the trust bank does not do. It does not custody XRP for the benefit of XRP holders, does not create any obligation to buy or hold the token, and does not make XRP a bank deposit or a regulated bank instrument.

It is, at its heart, infrastructure for the stablecoin, which is the recurring theme of Ripple’s entire banking build.

The real prize: a Federal Reserve master account The most consequential piece of Ripple’s banking strategy is the one furthest from being secured: a Federal Reserve master account.

A master account is the account a financial institution holds directly with the central bank, and it is the gateway to the core of the financial system.

It allows direct settlement through the central bank’s payment networks, the same rails the largest banks use, and direct access to base money rather than balances held at a commercial bank.

For a stablecoin issuer, the prize is enormous. With a master account, Ripple could hold the reserves backing its stablecoin directly at the central bank, the safest possible place, eliminating the counterparty risk of relying on private banks and giving institutions far greater confidence in the stablecoin’s solvency and redemption safety.

That is why custody and reserve safety matters so much in this story. Stablecoins are only as trusted as the assets backing them, the institutions holding those assets, and the transparency around redemption.

The catch is that no crypto-native firm has ever received full access of this kind on ordinary terms, and the bar is extraordinarily high.

The central bank has historically been reluctant to extend master accounts to non-traditional institutions. Uninsured trust banks face the most stringent levels of review, and previous attempts by crypto-adjacent firms to win access have often failed or taken years.

Ripple’s subsidiary has applied, and the application remains pending, with no public timeline and no clear signal of when or whether the central bank will act.

Approval would be genuinely transformative. It would mark a deeper integration between a crypto-native company and the core U.S. financial system, and it would dramatically strengthen the institutional credibility of RLUSD.

Ripple, Circle receive conditional national bank charter approvals from OCC

— crypto.news (@cryptodotnews) December 12, 2025 But it is far from assured. Even in the optimistic case, the direct beneficiary is again the stablecoin and the company’s settlement capabilities, not the token.

A master account would let Ripple hold stablecoin reserves at the central bank and settle through its rails. It would not, by itself, create demand for XRP.

The prize is real, and the prize is mostly about everything except the token.

Why this is mostly a stablecoin story Step back and a clear pattern emerges from every piece of Ripple’s banking build: it is, overwhelmingly, a stablecoin story.

The trust charter exists primarily to custody and manage stablecoin reserves. The master account, if granted, would primarily benefit the stablecoin by letting its reserves sit at the central bank.

The European license primarily expands where Ripple can offer regulated payment and stablecoin services. The acquisitions in brokerage, payments, and treasury primarily build out an institutional settlement and services business in which the stablecoin is the natural cash leg.

Ripple’s dollar stablecoin has grown past $1 billion, expanded across multiple blockchains, and won approvals in multiple jurisdictions. The banking apparatus is being constructed largely to support and legitimize it.

That is why the RLUSD the bank serves is the center of the story. A stablecoin is useful to institutions precisely because it is designed to hold a steady dollar value while moving across crypto rails.

Ripple’s own reserve-transparency page also shows why this matters. The company is trying to make RLUSD look less like an experimental crypto product and more like a regulated dollar instrument with transparent backing, regular attestations, and bank-grade custody.

This is the same dynamic that defined XRP through 2026, when Ripple’s marquee bank deals and settlement milestones ran through its stablecoin and ledger while the token captured little beyond a negligible network fee.

As previously reported, this is why Ripple wins bypass the token. Ripple can deepen its institutional footprint while XRP still waits for direct, measurable token demand.

The banking build is that dynamic taken to its logical conclusion. Ripple is constructing a regulated financial institution whose central purpose is to make its stablecoin the most trusted, most institutionally credible dollar token in the market, and to build a settlement and custody business around it.

XRP is part of the broader ecosystem, but it is not the thing the bank is for.

A holder hoping that the charter, the master account bid, and the acquisitions would translate into direct demand for the token is, once again, watching the wrong variable.

The value of all this machinery flows first to Ripple the company and to the stablecoin it is built to serve, exactly as Ripple’s own communications have acknowledged in noting that the banking progress is unlikely to move the token’s price directly or immediately.

So what do XRP holders actually get? If the bank build is mostly about the stablecoin, the fair question is whether XRP holders get anything at all.

The honest answer is yes, but indirectly and slowly. The benefit to XRP runs through legitimacy and ecosystem strength rather than any direct mechanism.

As Ripple becomes a regulated, bank-grade financial institution, the entire ecosystem it anchors gains credibility in the eyes of the banks and corporations Ripple wants as customers.

A more trusted Ripple makes every part of its stack, including the ledger on which XRP lives and the role XRP can play, more palatable to institutional users.

The argument, which Ripple and many holders make, is that demand for one asset in an ecosystem can lift others in the same stack, and that a Ripple wired into the core of the financial system is a Ripple better positioned to drive real-world use of XRP as a bridge asset over time.

This indirect benefit is not nothing, and it would be a mistake to dismiss it. XRP’s most plausible long-term role is as a bridge asset that moves value between currencies in settlement.

A Ripple with a federal charter, a master account, and a credible institutional settlement business is a Ripple with more opportunities to route that kind of settlement in ways that touch the token.

But the benefit is conditional, gradual, and unguaranteed, three qualities that make it very different from the direct, immediate boost holders often hope for.

XRP does not become a bank deposit, a stablecoin, or a regulated instrument through any of this. It remains a separate, volatile asset whose demand depends on whether Ripple’s growing institutional infrastructure eventually channels real settlement volume through it.

The competing path is obvious: the same settlement volume could instead keep flowing through RLUSD, which is better suited to settlement precisely because it does not move in price.

The banking build improves the odds that Ripple can win regulated institutional business someday. It does not make that business flow through XRP now, and it does not create token demand on its own.

The bull case within the bank build In fairness to the optimistic view, there is a coherent bull case for XRP buried inside Ripple’s banking transformation, and it deserves a clear statement.

The strongest version goes like this: Ripple is methodically removing every reason an institution might hesitate to build on its rails.

The charter answers the custody and reserve-management question. The master account, if granted, answers the reserve-safety question at the highest possible level.

The acquisitions answer the brokerage, payments, and treasury questions. The licenses answer the regulatory question across jurisdictions.

As those barriers fall one by one, Ripple becomes a place where serious institutions can conduct serious volume. In a world where Ripple is running large-scale regulated settlement, the case for using XRP as the neutral bridge asset between currencies strengthens, because the infrastructure to do it at scale finally exists and is trusted.

Pair that with the token’s other tailwinds, including the regulatory clarity from its resolved legal status, the spot exchange-traded funds gathering assets, and the prospect of federal legislation codifying its commodity classification, and the bull case becomes clearer.

That is where the legislation that could codify XRP fits in. If the CLARITY Act turns XRP’s commodity treatment into durable federal law, it could make institutions more comfortable using the token where it has a genuine settlement role.

In that version of the future, XRP sits inside a maturing, increasingly bank-grade ecosystem at exactly the moment that ecosystem becomes capable of institutional-scale activity.

If even a fraction of the settlement flowing through a fully built-out Ripple touches XRP as a bridge, the demand could be meaningful, and it would arrive on top of a token that has already cleared its regulatory hurdles.

This is a real argument, and it is why the banking build is truly good news for the long-term XRP thesis even though it is not a direct catalyst.

The caveat, as always, is the word “if.” The bull case depends on Ripple choosing and managing to route settlement through the token rather than through the stablecoin, and the entire pattern of 2026 suggests the stablecoin keeps winning that role.

The infrastructure being built is real. Whether XRP is wired into it is the open question.

What XRP holders should watch For a holder trying to judge whether Ripple’s banking transformation will ever translate into token demand, the analysis points to a few specific signals worth tracking, none of which is another charter or acquisition headline.

The first is the Federal Reserve master account decision.

If granted, it would be a landmark for Ripple and the stablecoin, and it would mark the company’s deepest integration into the financial system. Over time, that expands the surface area where XRP could be used.

If denied, a key piece of the institutional thesis stalls.

Either way, it is the most consequential pending item, and its outcome shapes everything downstream.

The second and more important signal is whether XRP actually appears in the settlement flows of Ripple’s bank-grade business, as opposed to the stablecoin doing all the work.

This is the variable that decides the entire question. If Ripple’s institutional settlement increasingly routes through XRP as a bridge asset, generating real, recurring token demand, then the banking build will finally have reached the token.

If, as has been the pattern, the stablecoin carries the settlement while XRP captures only a fee, then the bank is a Ripple and stablecoin story with XRP riding the halo of legitimacy but not the flows.

The third signal is the broader regulatory picture, particularly whether federal legislation codifies XRP’s status, which would compound the legitimacy the banking build provides.

The honest synthesis is that Ripple becoming a bank is a major, genuine achievement that strengthens the company, the stablecoin, and the long-term credibility of the whole ecosystem.

For XRP specifically, it improves the odds without delivering the goods.

The token’s payoff depends on a future choice, to run regulated settlement through XRP, that Ripple has not yet shown it will make.

Until it does, the bank is being built for everything except the token, and the token, as it has all year, waits.

Frequently asked questions Is Ripple actually becoming a bank? Sort of, but with important caveats. Ripple won conditional federal approval to operate a national trust bank and applied for a Federal Reserve master account, and it has acquired prime brokerage, payments, and treasury businesses. But a national trust bank is not a retail bank: it cannot take ordinary deposits, offer checking or savings accounts, or carry federal deposit insurance. It is a specialized institution for custody, fiduciary services, and reserve management. So Ripple is building a bank-grade regulated financial institution, but one focused on custody and stablecoin reserves instead of traditional deposit-taking banking.

What is the Federal Reserve master account and why does it matter? A master account is an account held directly with the central bank, giving direct access to its payment rails and to base money, the same access the largest banks have. For Ripple, it would let the company hold its stablecoin’s reserves directly at the central bank, the safest possible location, eliminating reliance on private banks and boosting institutional confidence in the stablecoin. No crypto-native firm has ever been granted full access of this kind on ordinary terms, the review is stringent, and Ripple’s application is pending with no timeline. Approval would be transformative for the company and stablecoin, though not a direct catalyst for XRP.

Does Ripple’s banking push help XRP? Indirectly and gradually, not directly. The charter and master account primarily benefit Ripple’s stablecoin, whose reserves they would custody and secure. XRP does not become a deposit, a stablecoin, or a regulated instrument. The benefit to XRP runs through legitimacy: a bank-grade Ripple strengthens the whole ecosystem and improves the odds that XRP is eventually used as a bridge asset in regulated settlement. But that is conditional and slow, not the direct demand boost holders often hope for, and Ripple itself has acknowledged the banking progress is unlikely to move the token’s price immediately.

Why does the stablecoin benefit more than XRP? Because the entire banking build is designed around the stablecoin. The trust charter exists mainly to custody and manage stablecoin reserves. The master account, if granted, would let those reserves sit at the central bank. The acquisitions build a settlement business in which the stablecoin is the natural cash leg. A stablecoin is suited to settlement precisely because it holds a steady value, while XRP’s volatility makes it less suitable for that role. So Ripple’s regulated infrastructure naturally channels value to the stablecoin, with XRP benefiting only as part of the broader, more credible ecosystem.

What is the bull case for XRP in all this? The bull case is that Ripple is methodically removing every reason an institution might hesitate to use its rails, through the charter, the master account bid, the acquisitions, and the licenses. As those barriers fall, Ripple becomes capable of large-scale regulated settlement, and the case for using XRP as a neutral bridge asset between currencies strengthens because the trusted infrastructure to do it finally exists. Combined with XRP’s regulatory clarity, its ETFs, and possible federal legislation, the bull case is that XRP sits inside a maturing, bank-grade ecosystem just as that ecosystem becomes capable of institutional-scale activity. The caveat is whether settlement actually routes through XRP instead of the stablecoin.

What should XRP holders watch next? Three things. First, the Federal Reserve master account decision, which would mark Ripple’s deepest integration into the financial system and expand where XRP could be used, or stall a key part of the thesis if denied. Second, and most important, whether XRP actually appears in the settlement flows of Ripple’s institutional business, generating real token demand, as opposed to the stablecoin doing all the work. Third, the broader regulatory picture, especially whether federal legislation codifies XRP’s commodity status. The token’s payoff depends on Ripple choosing to route regulated settlement through XRP, a choice it has not yet shown it will make.

This article is information, not investment advice. Cryptocurrency is volatile, and regulatory approvals, corporate plans, and figures reflect reporting available as of June 26, 2026, which can change quickly. Verify current data from primary sources before making any decision.

The XRP Ledger (XRPL) is poised to welcome a new generation of lending and yield products as its decentralized finance (DeFi) ecosystem continues its rapid expansion. 

Ripple executive J. Ayo Akinyele has provided a detailed clarification regarding the upcoming Lending Protocol v1.1. 

Akinyele explicitly stated that v1.1 is an enhancement to the existing protocol, rather than a replacement for v1.0, and emphasized that developers have no reason to hold off on utilizing v1.0 today.

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"The protocol works as designed," Akinyele noted, explaining that the v1.1 update simply introduces refinements and added flexibility driven by feedback from the ecosystem and the long-term vision for lending on the XRPL.

Version 1.1 will ship as a separate amendment that extends the existing protocol. The previous will not be deprecated, meaning supporting it now allows institutions and developers to deploy lending applications and use cases directly on the mainnet.

"The protocol works as designed. v1.1 enhances it: refinements and added flexibility driven by ecosystem feedback and where we want lending on XRPL to go. It ships as a separate amendment that extends the existing protocol. v1.0 will not be deprecated, and supporting it now will enable institutions and developers to deploy lending applications and use cases on mainnet," he said. 

The activation of v1.1 will follow the standard amendment process, meaning there is no dependency requiring users to wait for it before acting on v1.0. Each amendment will be reviewed on its own merits by validators on their normal cadence.

SOIL eyes first application After the news of the protocol's development, another Ripple executive confirmed that a new wave of lending and yield products is officially coming to the network.

SOIL, a prominent protocol known for offering institutional lending services using USDC, RLUSD, and XRP, has officially announced its plans to integrate the XRPL Lending Protocol alongside SAV. The firm is positioning itself to become the first application to leverage these native features, which could potentially introduce an entirely new category of yield-generation products directly to the XRP Ledger.

To facilitate this new phase of lending services, the firm has proposed the activation of specific technical standards in the near future. Most notably, this includes the XLS-65 and XLS-66 standards, which are expected to be activated as soon as possible to ensure the lending upgrade is effectively deployed across the network.

TLDR: Binance’s XRP Perpetual-Spot Volume Imbalance Z-Score sits near neutral at 0.17, within normal historical range. XRP dropped over 3.3% in 24 hours to $1.049 as tech stock declines triggered over $1 billion in crypto liquidations. Ripple’s RLUSD stablecoin launched on SBI VC Trade in Japan, becoming the first regulated listing with zero fees. Spot XRP ETFs recorded $31.32 million in June net inflows, well below May’s record high of $132 million. Binance’s XRP Perpetual-Spot Volume Imbalance Z-Score is holding near neutral at approximately 0.17, according to the latest on-chain data.

The reading reflects that the gap between perpetual and spot trading volumes remains within a historically normal range.

XRP is trading near $1.02 as of this writing, down over 4.4% in 24 hours amid a broad crypto market selloff. Despite the price drop, derivatives market activity has not shown signs of excessive speculative buildup.

Z-Score Stability Points to Measured Derivatives Positioning The Volume Imbalance indicator on Binance measures the difference between perpetual and spot trading volumes for XRP.

The current reading stands at approximately 0.51, with the 30-day Z-Score sitting near 0.17. That figure places the current imbalance well within the range of normal activity relative to the past month.

Source: CryptoQuant

Perpetual trading continues to dominate XRP market activity, but the margin of dominance remains unremarkable.

The Z-Score has moved through notable swings over the past several months. During price rallies in April and May, perpetual volumes expanded sharply, widening the gap above spot market activity on several occasions.

As XRP’s price retreated and speculative interest eased, the indicator pulled back toward balanced levels. The 30-day Z-Score then stabilized near zero before settling at its current modest positive reading.

A Z-Score of 0.17 indicates the present level of perpetual dominance is not exceptional. It falls broadly in line with average derivatives activity recorded over the past month.

There is no evidence of the kind of leverage buildup that typically precedes sharp price swings or large-scale liquidation events. At the same time, the reading does not suggest any notable drop in trader participation across derivatives markets.

The data paints a picture of cautious, measured positioning in XRP derivatives at this stage. Traders appear to be adjusting exposure gradually rather than piling into directional bets.

That behavior is consistent with a market navigating a broad selloff without taking on outsized risk. The Z-Score’s proximity to neutral reflects that restraint across Binance’s XRP derivatives market.

Market Context: Selloff and Ecosystem Developments XRP’s decline of over 4.4% in 24 hours came alongside a broader crypto market selloff driven by falling technology stocks.

Over $1 billion in crypto positions were liquidated during the period across the market. The price pressure pushed XRP to approximately $1.02, compounding recent weakness in the token.

Despite the turbulence, Binance’s derivatives data has not shown a corresponding spike in speculative activity.

Ripple’s RLUSD stablecoin launched in Japan through SBI VC Trade, the first Japanese exchange to list the asset. The listing is fully regulated and carries zero fees, going live immediately upon approval.

X Finance Bull noted on X that the Japan listing continues opening regulatory doors for the broader Ripple ecosystem.

JUST IN 🚨 RLUSD on Japan now.

Is $XRP for settlement next?

SBI VC Trade became the first Japanese exchange to list Ripple's stablecoin, fully regulated, zero fees, live today.

Japan keeps opening doors for the Ripple ecosystem one piece at a time.pic.twitter.com/IT9nYBpz1g https://t.co/SfemaHq3N2

— X Finance Bull (@Xfinancebull) June 24, 2026

RLUSD also surpassed Ethereum in circulating supply, adding to the milestone’s weight despite subdued XRP price action.

Spot XRP ETFs recorded $31.32 million in net inflows during June, per SoSoValue data. That figure trails May’s record of $132 million in net inflows by a wide margin.

Still, the ongoing institutional interest reflected in ETF flows contrasts with the short-term price weakness. Cumulative inflows into spot XRP ETF products have exceeded $1.43 billion since their November 2025 launch.

The combination of a neutral Z-Score, modest ETF inflows, and active ecosystem expansion gives a layered picture of XRP’s current market state.

Price performance has weakened amid macro-driven selling pressure. However, derivatives positioning on Binance remains measured, and the broader Ripple infrastructure continues to grow.

The Z-Score’s stability near 0.17 suggests traders are not amplifying the selloff through excessive leveraged exposure.

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 on-chain map points to $0.51: Key support at $1.06 holds 830M+ coins; a breakdown targets $0.80, $0.62, and $0.51 where 1.06B XRP cost basis is concentrated.Dormant 2024 whale moves $2.5 million in SHIB: 600 billion tokens routed through OTC-linked smart contracts; over $20M moved via similar channels in the past month amid a 23% price drop.Singapore adds Hyperliquid to investor alert list: Project insists no rules were broken; Multicoin's Kyle Samani accuses the team of misrepresenting decentralization; Bitwise CEO backs its fundamentals.Bitcoin tests $58,000 as Q2 concludes: $900 million in liquidations, seven weeks of ETF outflows at $1.34B, hawkish Fed wipes out Q3 rate cut hopes.On-chain roadmap plots XRP trajectory down to $0.51As the crypto market tries to find solid ground, well-known analyst Ali Martinez shared fresh Glassnode on-chain data on XRP, clearly showing where buyers are hiding and what traders should prepare for. Through the URPD metric, or realized price distribution, he effectively drew a roadmap for the market that, in the event of a decline, leads straight to the $0.51 mark.

Right now, the coin is undergoing a tough strength test, attacking a major volume block at $1.06. Investors should watch this level closely: more than 830 million XRP changed hands there in the past, so this threshold may define the trend for the coming weeks. If it holds, XRP may move higher; a close below it would open the door to a prolonged correction.

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XRP's UTXO Realized Price Distribution (URPD), Source: Ali Martinez citing GlassnodeIf bears do manage to break through this defense, the transaction history chart points to three main zones where billion-scale volumes were previously accumulated and where the price is likely to be bought most aggressively:

$0.80 — the first stop on the way down, where 923 million XRP was historically traded.$0.62 — the densest liquidity node, with an impressive turnover of 1.16 billion XRP.$0.51 — the final and strongest support target, which could become an ideal bottom. The cost basis of 1.06 billion coins is concentrated here, making this level a key reference point for smart money.Bottom line: the blockchain shows a clear picture — major players have already marked their price interests with real capital. XRP's next move will depend on whether the market has enough liquidity to hold the current psychological barrier or whether a gradual descent toward long-term accumulation levels is ahead.

2024 whale awakens: $2.5 million in SHIB on the moveAt the same time, on-chain monitoring recorded a large movement of funds on the Shiba Inu network. A major holder that had been inactive since 2024 transferred 600 billion SHIB tokens worth $2.51 million, as Arkham data indicates.

Behind this transfer is a chain of several addresses. The original wallet, "0x34596…", sent a tranche of 486.98 billion SHIB through an intermediate address to the "0x3Ece6…" hub, where the funds were merged with other flows and redirected to the final address, "0x9999f…". As a result, the recipient's balance accumulated more than $3.24 million in SHIB and stablecoins.

Shiba Inu (SHIB) from 2024 whale being tunneled through the chain of unidentified wallets, Source: ArkhamThe transaction structure itself points to the involvement of large players rather than retail traders. The sending hub regularly processes billion-token blocks, from 113 billion to 1.25 trillion SHIB, through ForwarderV4 smart contracts. This node can be linked to the infrastructure of over-the-counter, or OTC, desks or market makers providing liquidity for Binance and OKX.

This transfer fits into the broader trend of large holders locking in positions. Over the past month alone, more than 3.8 trillion SHIB, or about $20 million, has been moved through similar on-chain channels. The capital movement is taking place against the backdrop of a local decline in the meme token's value: over the past 30 days, SHIB has lost about 23% of its value and is trading near $0.0000042.

The use of OTC channels allows large players to move volume without direct pressure on exchange order books. However, the trend of funds being moved out still forces the market to remain cautious.

Singapore takes aim at HyperliquidAn even bigger surprise, however, was the decision by Singapore's regulator, MAS, to add the DeFi protocol Hyperliquid to its Investor Alert List, or IAL, which is designed to protect consumers from unlicensed entities.

The Hyperliquid team quickly clarified the situation and tried to calm the market. There is no panic, because inclusion on this list does not mean a ban, enforcement action, or identified violations. The project was originally created as open, permissionless infrastructure and never claimed to be authorized by MAS, so users still retain full self-custody, while all transactions continue to pass transparently through the blockchain as usual.

Moreover, Hyperliquid emphasized its willingness to work constructively with regulators around the world to help create clear rules for on-chain finance.

Nevertheless, the platform's public statement triggered criticism from professional market participants over its terminology. Well-known investor Kyle Samani of Multicoin sharply criticized the platform's statement and directly accused the team of gaslighting the industry. 

Hyperliquid is not permissionless. Stop gaslighting the public

Being permissionless would require, at the very least

1) being open source
2) mainnet validators operating around the world as opposed to in a single building

— Kyle Samani (@KyleSamani) June 26, 2026 According to him, Hyperliquid simply has no right to call itself "permissionless" while the project's source code is closed and its mainnet validators are physically located almost in the same building instead of being distributed around the world.

Against this wave of criticism, Bitwise CEO Hunter Horsley unexpectedly came to the defense of the protocol's business model, urging skeptics to look at the situation more broadly. 

Horsley believes the era of tying value to the relative market capitalization of Bitcoin or Ethereum has passed. A new generation of platforms is emerging, where real products, revenue, fees, and the volume of tokens held by users matter. By these fundamental metrics, Hyperliquid has enormous value.

Crypto market outlook: Bitcoin holds the line at $58,000 as Q2 pressure peaksBitcoin is testing the psychological $58,000–$60,000 zone as the market remains overloaded with selling pressure. Quarter-end positioning, ETF loss-taking, and tough U.S. macro data have all converged. Excessive margin leverage has been washed out by a wave of liquidations, sentiment has moved into deep risk-off mode, but the technical removal of the derivatives overhang opens a window for stabilization.

Key checkpoints:

Bitcoin price: Bitcoin is testing a local low at $58,100. The current spot range is trapped within a daily decline of 5.81%. A sustained move below $58,000 would open the way to a strong order block at $54,000.ETF outflows at $1.34 billion: Funds are recording their seventh week of net outflows. BlackRock's IBIT saw $265.2 million withdrawn in one day. The secondary hit is coming from Ethereum ETFs, which have been losing liquidity for six consecutive days, with $81.87 million in outflows as of June 25.Liquidations at $900 million: A cascade of forced long-position closures occurred as the price was squeezed toward $58,000. The derivatives market has been fully cleared of speculative leverage, and open interest has fallen to multi-month lows.Macro and PCE inflation: The U.S. Personal Consumption Expenditures index exceeded the Federal Reserve's 2% target. Hawkish rhetoric from the Fed's new leadership wiped out the chances of a rate cut in Q3, triggering a capital shift into U.S. Treasuries.$10.6 billion options expiry: Quarterly Deribit options expired today at 16:00 UTC+4. Around 80% of call positions expired out of the money, as the price remained far from the maximum pain point of $72,000. Market makers completed their hedging.MiCA on June 30: Four days remain before strict EU rules come into force. Binance is reducing operations in Greece and several eurozone countries. A local sell-off in altcoins and unauthorized stablecoins by European retail investors is being observed. You Might Also Like

XRP is facing fresh selling pressure, with its price dropping close to the $1 psychological level and sparking a long liquidation frenzy.

XRP has continued to slide lower in the past 24 hours. It fell deeper than Bitcoin and other large-cap altcoins during this period, except for Ethereum.

The asset is down 4%, only lower than Ether’s 5.4% in the top 10 cryptocurrencies by market cap. XRP slumped to a low of $1.008 before buyers stepped in to spark a rebound to $1.036. Now, bulls are fighting to keep the $1 psychological price mark, as the dip is the closest XRP has come to breaking below this level.

XRP Correction Spikes Long Liquidation As expected, leveraged long positions suffered severe losses. Amid the 4% drop, $43.18 million worth of XRP bull bets were liquidated from the market. This accounted for 97% of the total XRP positions forced to exit the market in the past 24 hours.

The total figure is $44.3 million, with XRP short positions accounting for just $1.13 million.

Notably, this trend temporarily changed in the past 4 hours, as shorts dominated XRP liquidations. Out of the $398,100 leveraged positions wiped out, $325,470 were shorts, and just $72,620 belonged to longs. This change aligned with the period where XRP rebounded from the intraday low to its current price, wrecking late shorts.

XRP Liquidations/Coinglass Meanwhile, in the past hour, the market has returned to hunting long positions as they top the liquidation chart again. Specifically, $56,510 in long liquidations of the total $56,530 tells the whole story.

The XRP liquidation is just a fraction of the total positions wiped out from the broader crypto market. Over the past 24 hours, $1.09 billion worth of positions have been forcefully closed, with $846 million being long positions and $244 million short positions.

XRP Dip Buying Efforts Amid the dip, market users appear to be accumulating. The Coinglass XRP spot flows show that outflows have surpassed inflows to exchanges, indicating withdrawals from platforms where XRP is easily sold to third-party and self-custody wallets.

Inflows stood at $159.9 million and outflows at $167.8 million. This means that a net of $7.85 million left crypto exchanges in the past 24 hours, culminating in about 7.62 million XRP tokens at the current market price.

XRP Spot Flows/Coinglass Nonetheless, the dip buying is not supported by futures enthusiasm. The growing liquidation has forced a cautious stance among derivative traders, with open interest dropping 8.7% to $2.3 billion. Futures flows also reflect this trend, with outflows surpassing inflows by $44 million in the past 24 hours.

Key Supports as $1 Grip Is Loosening With bears consistently testing the $1 support, their persistence could pay off, especially if the current market conditions endure. Per the UTXO Realized Price Distribution (URPD), XRP recently broke the $1.06 support, where over 830 million XRP changed hands.

For the uninitiated, the URPD metric measures the amount of an asset’s supply last moved at a particular price. The higher the volume moved, the more significant a level becomes, offering either support or resistance, depending on the price direction.

According to the URPD, the next core support level is $0.80, where wallets transacted 923 million XRP. After this is the $0.62 level, with 1.16 billion XRP moved there. A deeper correction could take XRP to $0.51, where 1.06 billion XRP changed hands.

XRP URPD Supports per Ali Martinez 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.

Ethereum has been striving to hold its ground in the crucial support zone between $1,584 and $1,683 in recent days. Market analysts note that if ETH manages to sustain this level, bullish momentum could strengthen. On the other hand, a break below this band may pave the way for further selling pressure and deepen the correction.

Attention fixed on a key support zoneApproximately 4 million ETH changed hands in the spotlighted price range, turning this area into a technically significant support region. If Ethereum posts a daily close above $1,683, buyers could gain the upper hand, setting their sights on the next supply zones—$1,980 and $2,079.

A daily close above $1,683 could bolster the bullish outlook and lift the price toward the $1,980 to $2,079 range.

Conversely, a dip below $1,584 could undermine the existing technical structure, drawing attention to lower demand areas near $1,237 and $1,089. In this scenario, the market could once again focus on the psychologically significant $1,000 region.

In the short term, daily closes are expected to serve as the key indicator of direction. Whether buyers can defend this high-activity zone, or sellers seize control, will play a crucial role in determining the next move for ETH’s price.

Long term resistance remains a hurdleAt the time of reporting, ETH traded close to $1,573, remaining within the broader accumulation range between $1,400 and $1,700. Despite this, Ethereum still lingers below the long-term descending resistance line, keeping the overall trend under downward pressure.

Analysis points out that the pullback, which commenced after the 2025 peak, has added importance to this region. If buyers fail to protect the current zone, the bearish pattern could not only persist but potentially intensify. In that case, the $1,200 mark may again come into play.

As one of the largest blockchain networks for smart contracts and decentralized applications, Ethereum’s sharp price movements capture the attention of both the ETH market and a wider set of altcoin investors.

Ethereum continues to trade below both the long-term descending resistance line and the strong moving average resistance near the $2,332 level.

The main moving average resistance around $2,332 stands out as one of the most significant barriers to upward movement. According to market observers, overcoming the descending trend line and reclaiming this level could open the door to a more robust recovery for Ethereum.

For the time being, technical indicators suggest that caution still prevails. As long as ETH fails to rise above long-term resistance levels, broader macro pressures persist and downside risks in the market have not been eliminated.

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 Sinks Deeper as the Psychological $1 Mark Comes Into Play

Trading of the DRAM memory ETF is now available on the Solana blockchain, with its holdings covering Samsung, SK Hynix, Micron, and SanDisk.

Jupiter official announcement: Trading of Roundhill Memory ETF (ticker: DRAM) is now supported on the Solana blockchain, with its holdings covering Samsung, SK Hynix, Micron, and SanDisk.

2 minutes ago

At the opening of US stock markets, AI application software stocks rose against the trend, with ServiceNow and Figma climbing more than 5%.

According to Bitget market data, AI software stocks in the US market rose against the trend at opening. ServiceNow (NOW.US) and Figma Inc (FIG.US) jumped more than 5%, while Palantir (PLTR.US), Adobe (ADBE.US), Workday (WDAY.US), Salesforce (CRM.US), and Datadog (DDOG.US) gained over 3%, and Microsoft (MSFT.US) rose by more than 2%. Microsoft has hiked Xbox prices three times in 13 months, and stated that storage component costs will double next year.

2 minutes ago

At the opening of the U.S. stock market, most space-themed concept stocks rose, while SpaceX declined 0.75%.

According to Bitget market data, most US space concept stocks advanced at the opening of US stock trading. Specifically: SpaceX (SPCX) slipped 0.75% to $151.8; Virgin Galactic (SPCE) gained 8%; AST SpaceMobile (ASTS) rose 3.45%; Rocket Lab (RKLB) added 4%; Redwire (RDW) gained 1.9%.

2 minutes ago

At the opening of US stock markets, optical communication concept stocks fell broadly, with MRVL, AAOI, and LITE down more than 6%.

According to Bitget market data, US stocks opened with broad declines in optical communication concept stocks, including: Pure Photonics ETF (FOTO) fell 5.7%; Marvell Technology (MRVL) — a stock NVIDIA CEO Jensen Huang previously touted as the next trillion-dollar market cap company — dropped 6.1%; AAOI (Applied Optoelectronics) fell 7.1%; LITE (Lumentum Holdings) dropped 8.86%; COHR (Coherent Corp.) declined 8.4%; and CIEN (Ciena Corporation) fell 4.75%.

2 minutes ago

US stocks opened with all three major indices in the red, with semiconductor and storage sectors plunging; Micron and SanDisk fell more than 5%.

According to Bitget market data, the three major US stock indexes all fell at opening: the Dow Jones Industrial Average dropped 0.44%, the S&P 500 declined 0.67%, and the Nasdaq Composite fell 1.1%. The semiconductor and storage sectors saw broad declines, with individual stocks performing as follows: NVIDIA (NVDA) dropped 1.56%; Intel (INTC) fell 3.5%; Broadcom (AVGO) declined 2.5%; Qualcomm (QCOM) fell 0.4%; Seagate Technology (STX) dropped 5.78%; Western Digital (WDC) fell 7%; SanDisk (SNDK) declined 7.5%; Micron Technology (MU) dropped 5.4%.

2 minutes ago

@BlackRock has deposited an additional 4,577 $BTC and 41,996 $ETH into Coinbase Prime, valued at approximately $337.2 million, continuing a notable pattern of large crypto transfers to the institutional platform.

Part of a Larger Wave of Transfers The latest deposit follows a significant $611 million liquidity transfer executed earlier in the week. Over that prior 48-hour period, BlackRock moved a total of 7,160 $BTC and 98,850 $ETH to wallet addresses on Coinbase Prime, with a combined value of approximately $611 million based on asset prices at the time. Those earlier tokens were transferred across multiple wallet addresses in three separate batches of large $BTC transfers and a single transfer carrying over 51,000 $ETH.

The market is interpreting the activity as tied to ETF fund flows and is watching future net inflows and outflows closely. The moves have sparked mixed reactions among investors, though the pattern has become familiar and is often expected during periods when BlackRock's ETF products are witnessing net outflows.

What the Transfers May Signal While the deposits have fueled speculation about possible sell activity, analysts noted that transfers to institutional trading platforms do not automatically confirm direct liquidation of Bitcoin or Ethereum holdings. Coinbase Prime supports institutional custody and settlement services, meaning wallet transfers alone cannot establish whether any sale occurred.

When an institutional investor like BlackRock deposits Bitcoin to Coinbase Prime, it often precedes a specific action within the ETF ecosystem, such as creating new shares or settling redemptions. BlackRock has not confirmed any sales or disclosed the purpose of the transfers, leaving open the possibility that the movements relate to institutional custody or settlement services rather than immediate trading activity.

The scale and frequency of the transfers nonetheless reinforce BlackRock's position as one of the most active institutional participants in the digital asset space, with on-chain trackers continuing to flag each new movement as a key data point for market participants.

Sources:
BlackRock Sends $217M in Bitcoin and Ethereum to Coinbase Prime, Blockonomi
BlackRock Transfers Over $600 Million in BTC and ETH to Coinbase, Digital Today
BlackRock Extends Bitcoin and Ethereum Transfers With Massive $217M Move, Crypto Economy

BlackRock just shifted 4,577 BTC and 41,996 ETH to Coinbase Prime, a combined transfer worth approximately $336 million.

The Bitcoin portion alone was valued at roughly $271 million, while the Ethereum tranche came in at around $65 million. On-chain tracking firms including Onchain Lens and Arkham flagged the transactions, which are linked to BlackRock’s management of its iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA).

What’s actually happening here Coinbase Prime serves as BlackRock’s custody, trading, and operational partner for its crypto ETF products. These transfers are the plumbing behind ETF share creation, redemption, and portfolio rebalancing. When new ETF shares are created because investor demand is high, the underlying crypto needs to move to the right custodial accounts. When shares are redeemed, the process reverses.

On-chain analysts have broadly characterized this transfer as consistent with standard ETF-related flows rather than any directional market bet. The absence of meaningful price movement in either Bitcoin or Ethereum following the deposit reinforces that interpretation.

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In January 2026 alone, BlackRock has transferred over $300 million in cryptocurrency to Coinbase Prime. Throughout 2025 and into 2026, similar transactions regularly exceeded $100 million per event.

BlackRock has not issued any official commentary on the transfer.

The bigger picture for crypto ETFs The fact that these transfers have become routine, happening regularly and in increasingly large sizes, signals that institutional infrastructure for crypto has matured well past the experimental phase.

The Ethereum side of the equation is worth noting separately. ETHA, BlackRock’s Ethereum ETF, has operated in the shadow of IBIT since launch. The 41,996 ETH transfer, while smaller in dollar terms, still represents meaningful operational activity. At roughly $65 million, the ETH deposit suggests that Ethereum ETF flows remain active.

What this means for investors When $336 million in crypto moves from the world’s largest asset manager to an exchange and nothing happens, it tells you something about where we are in the institutional adoption cycle. The market has learned to distinguish between operational custody transfers and actual buy or sell pressure.

The pattern is now well-established: large deposits to Coinbase Prime from BlackRock wallets are overwhelmingly associated with ETF mechanics, not market positioning.

Over $300 million in transfers in a single month suggests that ETF inflows and redemptions are running at a healthy clip. Sustained ETF activity of this magnitude acts as a structural demand source for both Bitcoin and Ethereum, providing a floor of institutional liquidity that didn’t exist before 2024.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Trading of the DRAM memory ETF is now available on the Solana blockchain, with its holdings covering Samsung, SK Hynix, Micron, and SanDisk.

Jupiter official announcement: Trading of Roundhill Memory ETF (ticker: DRAM) is now supported on the Solana blockchain, with its holdings covering Samsung, SK Hynix, Micron, and SanDisk.

2 minutes ago

At the opening of US stock markets, AI application software stocks rose against the trend, with ServiceNow and Figma climbing more than 5%.

According to Bitget market data, AI software stocks in the US market rose against the trend at opening. ServiceNow (NOW.US) and Figma Inc (FIG.US) jumped more than 5%, while Palantir (PLTR.US), Adobe (ADBE.US), Workday (WDAY.US), Salesforce (CRM.US), and Datadog (DDOG.US) gained over 3%, and Microsoft (MSFT.US) rose by more than 2%. Microsoft has hiked Xbox prices three times in 13 months, and stated that storage component costs will double next year.

2 minutes ago

At the opening of the U.S. stock market, most space-themed concept stocks rose, while SpaceX declined 0.75%.

According to Bitget market data, most US space concept stocks advanced at the opening of US stock trading. Specifically: SpaceX (SPCX) slipped 0.75% to $151.8; Virgin Galactic (SPCE) gained 8%; AST SpaceMobile (ASTS) rose 3.45%; Rocket Lab (RKLB) added 4%; Redwire (RDW) gained 1.9%.

2 minutes ago

At the opening of US stock markets, optical communication concept stocks fell broadly, with MRVL, AAOI, and LITE down more than 6%.

According to Bitget market data, US stocks opened with broad declines in optical communication concept stocks, including: Pure Photonics ETF (FOTO) fell 5.7%; Marvell Technology (MRVL) — a stock NVIDIA CEO Jensen Huang previously touted as the next trillion-dollar market cap company — dropped 6.1%; AAOI (Applied Optoelectronics) fell 7.1%; LITE (Lumentum Holdings) dropped 8.86%; COHR (Coherent Corp.) declined 8.4%; and CIEN (Ciena Corporation) fell 4.75%.

2 minutes ago

US stocks opened with all three major indices in the red, with semiconductor and storage sectors plunging; Micron and SanDisk fell more than 5%.

According to Bitget market data, the three major US stock indexes all fell at opening: the Dow Jones Industrial Average dropped 0.44%, the S&P 500 declined 0.67%, and the Nasdaq Composite fell 1.1%. The semiconductor and storage sectors saw broad declines, with individual stocks performing as follows: NVIDIA (NVDA) dropped 1.56%; Intel (INTC) fell 3.5%; Broadcom (AVGO) declined 2.5%; Qualcomm (QCOM) fell 0.4%; Seagate Technology (STX) dropped 5.78%; Western Digital (WDC) fell 7%; SanDisk (SNDK) declined 7.5%; Micron Technology (MU) dropped 5.4%.

2 minutes ago

Trading of the DRAM memory ETF is now available on the Solana blockchain, with its holdings covering Samsung, SK Hynix, Micron, and SanDisk.

Jupiter official announcement: Trading of Roundhill Memory ETF (ticker: DRAM) is now supported on the Solana blockchain, with its holdings covering Samsung, SK Hynix, Micron, and SanDisk.

2 minutes ago

At the opening of US stock markets, AI application software stocks rose against the trend, with ServiceNow and Figma climbing more than 5%.

According to Bitget market data, AI software stocks in the US market rose against the trend at opening. ServiceNow (NOW.US) and Figma Inc (FIG.US) jumped more than 5%, while Palantir (PLTR.US), Adobe (ADBE.US), Workday (WDAY.US), Salesforce (CRM.US), and Datadog (DDOG.US) gained over 3%, and Microsoft (MSFT.US) rose by more than 2%. Microsoft has hiked Xbox prices three times in 13 months, and stated that storage component costs will double next year.

2 minutes ago

At the opening of the U.S. stock market, most space-themed concept stocks rose, while SpaceX declined 0.75%.

According to Bitget market data, most US space concept stocks advanced at the opening of US stock trading. Specifically: SpaceX (SPCX) slipped 0.75% to $151.8; Virgin Galactic (SPCE) gained 8%; AST SpaceMobile (ASTS) rose 3.45%; Rocket Lab (RKLB) added 4%; Redwire (RDW) gained 1.9%.

2 minutes ago

At the opening of US stock markets, optical communication concept stocks fell broadly, with MRVL, AAOI, and LITE down more than 6%.

According to Bitget market data, US stocks opened with broad declines in optical communication concept stocks, including: Pure Photonics ETF (FOTO) fell 5.7%; Marvell Technology (MRVL) — a stock NVIDIA CEO Jensen Huang previously touted as the next trillion-dollar market cap company — dropped 6.1%; AAOI (Applied Optoelectronics) fell 7.1%; LITE (Lumentum Holdings) dropped 8.86%; COHR (Coherent Corp.) declined 8.4%; and CIEN (Ciena Corporation) fell 4.75%.

2 minutes ago

US stocks opened with all three major indices in the red, with semiconductor and storage sectors plunging; Micron and SanDisk fell more than 5%.

According to Bitget market data, the three major US stock indexes all fell at opening: the Dow Jones Industrial Average dropped 0.44%, the S&P 500 declined 0.67%, and the Nasdaq Composite fell 1.1%. The semiconductor and storage sectors saw broad declines, with individual stocks performing as follows: NVIDIA (NVDA) dropped 1.56%; Intel (INTC) fell 3.5%; Broadcom (AVGO) declined 2.5%; Qualcomm (QCOM) fell 0.4%; Seagate Technology (STX) dropped 5.78%; Western Digital (WDC) fell 7%; SanDisk (SNDK) declined 7.5%; Micron Technology (MU) dropped 5.4%.

2 minutes ago

THE BLOCK: Ethereum OG wallets finally sell after 8 years, locking in estimated $27M profit after $150M unrealized peak: onchain analysts

The Dogecoin project's official social account has a sense of humour about its own price chart. As $DOGE shed roughly 26% of its value over the past month, the team posted a quip about "downward dog" charts, the yoga pose that apparently doubles as a candlestick pattern these days.

"somebody needs to tell the charts to stop doing the downward dog," the official Dogecoin account wrote, timing the post to coincide with what has been a sustained slide across multiple timeframes.

DOGE Sinks as Broader Market Takes a Hit Dogecoin fell to a low of $0.072 during Wednesday's session before partially recovering. At the time of writing, it was still in the red, down 3.14% in the prior 24 hours to around $0.076. Since June 14, Dogecoin has closed lower in 7 of the past 10 trading days, reflecting a steady deterioration in price momentum.

The dog-themed meme coin had fallen roughly 9% in a week and nearly 24% in a month as selling pressure continued to mount. A broader drop in investor sentiment across the cryptocurrency market appears to be reflected in Dogecoin, a leading meme coin. Macroeconomic uncertainty has overlapped with internal industry issues, and market liquidity is also falling as investor money shifts to artificial intelligence-related stocks, large initial public offerings and prediction markets.

$1 Billion Wiped in Liquidations Digital assets saw roughly $1 billion in positions liquidated across the crypto market in a single 24-hour window, according to CoinGlass data. The decline triggered about $778 million in long liquidations, with short liquidations accounting for the remainder.

Bitcoin briefly slipped below the psychological $60,000 level toward $59,000, triggering a leverage-driven liquidation cascade that pushed crypto futures liquidations above $1 billion, according to CoinGlass. The liquidation data suggests that leverage, rather than spot selling alone, played a major role in the speed of the move. When heavily margined long positions are clustered around obvious support levels, a break can force automatic selling into already thin liquidity.

For now, the joke may be on the charts. But with Dogecoin trading near key technical support and broader market sentiment still fragile, the real punchline remains to be seen.

Sources:
U.Today: Dogecoin X Issues 'Downward Dog' Remark Amid $1 Billion Market Selloff
Crypto Briefing: Over $1B in Crypto Positions Liquidated in 24 Hours
CryptoRank: Bitcoin Flushes Below $60,000 as Crypto Liquidations Top $1 Billion

Strategy founder Michael Saylor, known as a big bull in the market, had been silent on his platform for two days since the Bitcoin price sharply dropped below $60,000.

But she finally broke the silence and made a new post.

Despite the setbacks, Saylor vowed to continue adhering to his current Bitcoin strategy.

Michael Saylor stated that market volatility will test all capital structures, and that his company will continue to focus on Bitcoin’s prudent capital allocation, creditworthiness, and long-term value creation.

Thanking the investors, Saylor emphasized that Strategy will continue to implement its current strategy with transparency and determination.

“Volatility tests every capital structure. The strategy remains committed to a focus on Bitcoin, disciplined capital allocation, credit quality, and long-term value creation. We are grateful to our investors and will continue to implement with transparency and determination.”

Saylor, known in the cryptocurrency community for posting pro-Bitcoin content daily on her X account, drew attention to the community by taking a break from her posts.

Saylor, who last posted on June 24th, has been unusually silent, leading some in the community to say that the decline has managed to silence even her.

With the decline in Bitcoin, Strategy’s unrealized loss has reached $13 billion. At this point, according to the latest analyses, Strategy’s unrealized loss in Bitcoin assets has exceeded Dogecoin’s market value.

While the company’s paper losses are approximately $13 billion, Dogecoin’s market capitalization is around $11.5 billion.

In this state, the company’s losses have also exceeded the market capitalization of other major altcoins such as Cardano, XMR, Chainlink, Bitcoin Cash, Litecoin, UNI, and NEAR.

Strategy currently holds approximately 844,000 BTC, with an average purchase price of around $75,600.

*This is not investment advice.

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