XRP’s Technical Breakdown Deepens Even as Ripple Secures Japan’s First Stablecoin License
Published on 06/25/2026 at 17:34 | Redaktion boerse-global.de
Ripple marked a regulatory first in Japan on June 25, when the Financial Services Agency (JFSA) approved RLUSD as an electronic payment instrument under the new Type?4 framework of the Payment Services Act. Yet the milestone did nothing to halt XRP’s descent. The token slid to a year low of $1.05 the following day and now changes hands near $1.03, a level that leaves it more than 70% below its 52?week peak of $3.65.
The Japanese green light allows retail and institutional clients of SBI VC Trade to trade the dollar?pegged stablecoin. Individual orders are capped at ¥1 million – roughly $6,200 – and transactions initially run over Ethereum without deposit or withdrawal fees. RLUSD is fully backed by U.S. Treasuries and dollar deposits, with monthly attestations guaranteeing its stability. Ripple’s partnership with SBI Group, which has been in place since 2016, provided the foundation for the rollout.
RLUSD now carries a market capitalization of approximately $1.7 billion. For context, Tether commands $186 billion and USDC $74 billion. Still, a notable shift is underway: the supply of RLUSD on the XRP Ledger has overtaken that on Ethereum, standing at $801.8 million versus $795.6 million, underscoring the growing utility of Ripple’s native network. Beyond Japan, the stablecoin is integrated into Mastercard’s settlement system and communicates with 40 blockchains via the Wormhole standard. Separately, on June 23, Ripple received a provisional MiCA?compliant license in Luxembourg.
Should investors sell immediately? Or is it worth buying XRP?
XRP’s price action tells a different story. The token has lost roughly 45% of its value since the start of 2026, dragged lower by a broad crypto sell?off that has pushed Bitcoin below the $60,000 mark. The weekly Relative Strength Index hovers near 30, a technically oversold reading. XRP has also fallen almost 30% below its 200?day moving average, and chartists now eye the psychologically critical $1.00 support level. A break below that threshold could trigger further liquidation, while overhead resistance clusters around $1.19.
Despite the gloom, some institutional flows remain constructive. XRP spot ETFs recorded net inflows of $2.05 million on June 24, extending a positive streak to seven consecutive weeks at a time when Bitcoin and Ethereum ETFs were bleeding capital. The trajectory of the token may hinge on the upcoming launch of a native lending protocol on the XRP Ledger. After a successful re?audit, the protocol will introduce fixed?term on?chain loans denominated in XRP, RLUSD and USDC – a concrete step toward bringing functional DeFi to the network.
For the moment, however, the weight of the macro environment is overwhelming any incremental tailwinds from the regulatory arena. Japan’s approval of RLUSD is a landmark for Ripple as a company, but it has yet to move the needle for XRP’s bruised market price.
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