While RLUSD Flips Ethereum, XRP’s Retail Traders Get Flushed Out
Published on 06/29/2026 at 09:31 | Redaktion boerse-global.de
Ripple’s stablecoin RLUSD has quietly overtaken a major rival, yet the price of XRP remains stuck in the mire. On the XRP Ledger, RLUSD now circulates with a supply of 810 million US dollars, surpassing the 760 million US dollars parked on Ethereum’s blockchain. Total RLUSD circulation across all chains stands at roughly 1.6 billion dollars, but the ledger shift is a clear signal that Ripple’s infrastructure is gaining traction. Daily active addresses have jumped to 39,500, and the aggregate open interest for XRP futures has surged back above the $1 billion mark. Network activity is alive and well.
In stark contrast, the cash-and-carry crowd is taking a beating. On June 27, XRP slid to $1.02, the lowest print since February 2026, triggering the biggest cascade of stop-loss orders since 2022. Long positions worth around $9 million were forcibly closed on June 25 alone. On Binance, open interest in XRP futures has sunk to $205 million, while total futures trading volume has slumped 90% year-on-year. With a Sharpe ratio of minus 0.29, the risk-adjusted returns are miserable. Roughly 60% of all XRP holders are sitting on losses.
Yet a very different story is unfolding in the institutional realm. Spot XRP exchange-traded funds have recorded net inflows for eight consecutive weeks, with the week ending June 26 adding $22.99 million. Bitwise led that charge with $14.07 million. Since May — which produced the strongest weekly inflow of $60.5 million — cumulative ETF inflows have reached approximately $1.42 billion. The total assets under management in XRP ETFs sit just shy of $1 billion, representing 959 million XRP tokens, or 0.96% of the entire supply.
Should investors sell immediately? Or is it worth buying XRP?
Ripple has also been busy shoring up its European credentials. On June 23, the company received a preliminary licence from Luxembourg’s CSSF under the upcoming MiCA framework. The final sign-off still depends on proof of capital and staffing, but the timing is deliberate: the MiCA transition period ends on July 1, after which unlicensed firms lose market access. CEO Brad Garlingstone stated on June 28 that the ultimate goal is to position XRP as the central settlement layer for global payments — a market he values at $16 trillion annually. The stablecoin RLUSD, now at $1.6 billion in total supply, is already part of that playbook.
Technicals, however, remain a worry. XRP trades around $1.04 to $1.05, dangerously close to its 52-week low. The RSI hovers in the low 30s, approaching oversold territory. Price sits well below both the 50-day moving average at $1.25 and the 200-day moving average at $1.51. If the psychological $1.00 barrier cracks, chart-based support appears thin until the $0.80 area.
The disconnect between swelling on-chain activity and deteriorating price action has rarely been this pronounced. Institutional buyers are accumulating ETFs, regulators are granting licences, and RLUSD is winning market share. But retail traders keep selling into every bounce, and the derivatives market is flashing caution. Whether the dollar floor holds may determine whether this infrastructure build eventually pulls the token higher — or whether selling pressure overwhelms the optimists.
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