XRP Derivatives Bloodbath Hits $43M as Ripple Pushes into European and Asian Markets
28.06.2026 - 06:42:35 | boerse-global.de
XRP’s price slide intensified on June 26 as forced liquidations wiped out $43 million worth of long positions, accounting for 97% of all XRP derivatives unwound that day. The token currently trades at $1.04, a stone’s throw from its 52-week low and 71% below the July 2025 peak of $3.65. The previous day had already seen over $40 million in long liquidations, making it a two-day rout that ranks among the most severe in recent months.
The carnage in the derivatives market is underscored by a sharp decline in open interest, which has fallen from $1.18 billion to $1.04 billion over the past month, a drop of roughly 11%. Funding rates have turned deeply negative as leveraged bulls were forced out. On the spot side, the relative strength index sits at around 31, pointing to deeply oversold conditions.
Yet while leveraged traders were hammered, institutional money continued to flow into XRP spot ETFs. Since their launch in November 2025, these products have attracted net inflows of $1.47 billion. June alone saw $46.5 million enter the funds, including $15.6 million on the very day of the liquidation wave, with the Bitwise XRP ETF drawing $11.7 million. This apparent divergence between derivatives-dominated selling and ETF accumulation suggests a bifurcated market.
On-chain data reinforces the accumulation narrative. The number of wallets holding at least 10,000 XRP hit a record 332,230 in May 2026. Additionally, more than 25 million XRP have been withdrawn from exchanges recently, a move often interpreted as a shift to cold storage and a reduction in near-term selling pressure.
Should investors sell immediately? Or is it worth buying XRP?
Behind the price action, Ripple’s regulatory expansion continues at pace. On June 23, the company secured a provisional CASP license from Luxembourg’s CSSF, just days before the EU’s July 1 deadline for unlicensed crypto firms to cease operations. Together with an existing e-money license, Ripple can now offer regulated services for XRP and its RLUSD stablecoin across all 30 countries of the European Economic Area. In Japan, RLUSD launched on June 24 in partnership with SBI VC Trust after receiving approval from the JFSA as an electronic payment method. In Singapore, a pilot under the MAS sandbox is testing automated trade finance on the XRP Ledger. RLUSD’s market capitalization has reached around $1.7 billion.
Meanwhile, Ripple’s developers are preparing a major upgrade to the XRP Ledger aimed at decentralized finance. Two new protocols would enable direct lending on the network, allowing users to deposit XRP into liquidity pools and earn yields, while borrowers can access fixed-rate loans without relying on external smart contracts. The proposal has drawn broad community support.
The next catalyst for XRP lies in Washington. The Digital Asset Market Clarity Act, which would classify digital assets like XRP as commodities, remains in play. The White House is pushing for a vote before July 4, but the Senate calendar is tight and likely to push deliberation into the July 13 to August 4 window. Galaxy Research puts the odds of passage at just 50-50, citing limited floor time. If it does pass, Standard Chartered analysts expect a wave of new ETF investments ranging from $4 billion to $8 billion, which could abruptly reverse the current downtrend.
XRP at a turning point? This analysis reveals what investors need to know now.
On the charts, XRP faces immediate resistance at $1.10. If support at the psychological $1.00 mark holds, continued accumulation by large holders could lay the groundwork for a stabilization rally — provided regulatory clarity from Washington arrives in time. But with the derivatives bloodbath still fresh and oversold conditions building, the token’s next move will likely hinge on the political calendar.
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XRP Stock: New Analysis - 28 June
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