Ripple’s Japan Milestone and an ETF Reverse Split Fail to Lift XRP from Its Slump
Veröffentlicht: 27.06.2026 um 06:21 Uhr, Redaktion boerse-global.de
Two distinct developments unfolded for XRP in the final week of June — one a regulatory breakthrough in Japan, the other a mechanical adjustment to a leveraged ETF — yet neither has managed to jolt the token out of its deepening trough. The digital asset hovered near $1.04, a whisker above its 52-week low of $1.01 touched on June 26, and has now surrendered more than 44% of its value since the start of the year. At its 2025 peak of $3.65, the decline stands at roughly 71%.
The Teucrium 2x Long Daily XRP ETF, listed under the ticker XXRP on NYSE Arca, is executing a 10-for-1 reverse share consolidation after the market close on June 26, 2026. From June 29, each existing unit will be replaced by a single share with a net asset value roughly ten times higher. The total value of any holding remains unchanged, but fractional entitlements — which the exchange does not accommodate — will be cashed out to affected investors, a process that could trigger tax liabilities. The ETF tracks twice the daily move in XRP via derivatives, not the underlying token directly, meaning its long-term performance can deviate sharply from the aimed 2x factor.
On the same day, Ripple celebrated a separate milestone: its RLUSD stablecoin went live on SBI VC Trade, Japan’s crypto platform backed by the financial conglomerate SBI Holdings. The stablecoin carries a market capitalisation of approximately $1.7 billion, is fully collateralised by US Treasuries and cash reserves, and has been designated Japan’s first Type 4 digital currency under local regulations. Trading is commission-free and runs around the clock, though strict caps apply — maximum order volume and account holdings are each limited to ¥1 million (about $6,900). Large transactions may also require additional processing time, particularly on weekends and holidays.
Should investors sell immediately? Or is it worth buying XRP?
Yet for all the fanfare, the integration stops short of plugging into XRP’s own network. SBI VC Trade currently supports RLUSD deposits and withdrawals only via the Ethereum blockchain; connectivity to the XRP Ledger is promised but not yet implemented. Until that link is live, the stablecoin’s launch does little to drive demand for XRP itself, even as it expands Ripple’s regulated infrastructure in Asia.
On-chain data, meanwhile, paint a somewhat more complex picture. Holdings of XRP on Binance slipped from 2.78 billion tokens in mid-May to roughly 2.68 billion by the end of June, with net outflows recorded for seven consecutive days. Similar drawdowns appeared at Upbit and Bybit. The withdrawals suggest that a portion of holders is moving tokens off exchanges into private wallets — a pattern that typically signals accumulation or long-term positioning rather than panic selling, even as the spot price falters.
The relative strength index for XRP now stands near 31, deep in technically oversold territory, but no meaningful rebound has materialised. The reverse split itself alters nothing about XRP’s supply or its protocol; it is purely an operational fix for an ETF that has seen its share price compressed by sustained declines. That such a step was necessary, however, underscores how a prolonged downturn can warp the mechanics of leveraged crypto products, regardless of the headline news from corporate or regulatory fronts.
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