Ripple’s EU Win and XRPL’s DeFi Leap Countered by Whale Exodus and 44% YTD Sink
Published on 06/24/2026 at 19:55 | Redaktion boerse-global.de
XRP is clinging to the $1.06 mark, barely above its 52-week floor of $1.05, as a landmark regulatory victory in Europe and a long-awaited upgrade to its native ledger fail to arrest a brutal slide. The token has shed 44% since the start of the year and sits more than 70% below the $3.65 peak reached 12 months ago.
On 23 June, Luxembourg’s financial watchdog CSSF granted Ripple a preliminary CASP license under the MiCA framework. The approval lets the firm prepare for passporting – the mechanism that allows a licensed entity in one EU member state to offer services across all 30 EEA countries. The license remains provisional, and the clock is ticking: the MiCA transition period expires on 1 July 2026, after which any unlicensed crypto service provider in the EU must cease operations. Ripple already holds an e-money institution license in Luxembourg and intends to combine the two authorisations to offer regulated payment infrastructure to banks and fintechs across the bloc. Its Ripple Payments network has already processed over $100 billion in volume across more than 60 markets.
The news did little for the spot price. On the day of the announcement, XRP fell nearly 4% to around $1.09, and has since slipped further. The broader market added pressure – Bitcoin dropped towards $62,000 at the same time, triggering $550 million in liquidations across the crypto space within 24 hours.
Network upgrades advance while RLUSD supply shrinks
Beneath the market gloom, the XRP Ledger’s infrastructure is undergoing its most significant expansion in years. Version 3.2.0, released on 22 June, paved the way for two protocol amendments: XLS-66, which enables fixed-rate, unsecured loans from pooled liquidity, and XLS-65, which introduces a single-asset vault model that aggregates deposits for decentralised lending markets. The features have yet to be activated, but the regulated yield protocol SOIL is already preparing to become the first application to use the native credit infrastructure.
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Ripple has also been scaling back the circulating supply of its stablecoin RLUSD. Over the past 30 days, roughly $539 million worth of RLUSD was burned, while new issuance totalled $129 million less than the amount destroyed. Analysts view the move as a strategic liquidity realignment, with Ripple concentrating on its integrated payment business. Regulatory progress in Europe accompanied these steps, but the native XRP token has so far suffered “sell-the-news” reactions rather than genuine demand.
Whales exit exchanges en masse
Investor behaviour tells a conflicting story. On 23 June, outflows from Binance accounted for 53.8% of all XRP-related transactions on the exchange – the highest ratio since June 2024. Inflows fell to 46.1%, their lowest in roughly two years. The pattern has persisted for seven consecutive days, with similar divergences recorded on Coinbase and Bybit. Over that period, large holders – so-called whales – withdrew a net 425 million XRP, worth approximately $476 million, from Binance alone. Whether this signals a shift to self-custody, institutional custody, or looming sales remains unclear.
Institutional inflows build a counterweight
Institutional appetite for XRP exposure continues to grow, even as the spot price languishes. Cumulative net inflows into spot XRP ETFs have surpassed $1.45 billion, according to the most recent data. In the United States, the CLARITY Act – which formally classifies XRP as a digital commodity – has passed the Senate Banking Committee. Analysts estimate that full ratification could unlock an additional $4 billion to $8 billion in ETF inflows by the end of the year.
Further down the institutional pipeline, Ripple Prime – the brokerage unit created through the acquisition of Hidden Road – has joined the DTCC’s tokenisation initiative, a $114 trillion project whose participants include BlackRock and JPMorgan. Live trades of tokenised equities, ETFs and US Treasuries are slated to begin in July 2026.
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Technical support under pressure
From a technical perspective, XRP is testing a support zone between $1.05 and $1.10. The relative strength index sits at 32.6, deep in oversold territory. The 200-day moving average of $1.53 is roughly 31% above the current price, underscoring the magnitude of the downtrend. Macro conditions add to the headwinds: markets now price a 70% probability of a Federal Reserve rate hike in September after April inflation data came in at 4.2% annualised.
For now, the $1.00 psychological level – last breached in late 2024 – is growing closer. Whether the network upgrades and regulatory progress can eventually ignite user demand and stabilise the token depends on the timely activation of XLS-65 and XLS-66, the finalisation of the CASP license, and the passage of the CLARITY Act. Until then, XRP remains caught between a building foundation and a persistently bearish market.
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