Network Boom Meets Price Bust: XRP Daily Transactions Triple While Token Hits Four-Month Low

XRP trades near $1.17 as network transactions triple and Mastercard integrates RLUSD, but geopolitical jitters and ETF outflows trigger a 96% long liquidation event.

The XRP Ledger is humming with record-level activity: daily transactions have tripled to roughly three million from the one million seen in mid-2025, and Mastercard just plugged Ripple’s regulated stablecoin RLUSD into its 24/7 on-chain settlement system. Yet the token itself is trading near a four-month low of $1.14, currently hovering around $1.17 — a stark disconnect between fundamental growth and market sentiment.

The slide accelerated on June 3 amid a broad risk-off event triggered by geopolitical tensions, including reports of drone strikes on Kuwait’s airport that sent Bitcoin below $63,000. Within a single day, XRP saw over $25 million in liquidations, with an overwhelming 96% of those being long positions. The crucial $1.25 support gave way, and the token hit $1.14 — a level now watched as make-or-break. A decisive break beneath it could open the door to $1.10 or lower.

Institutional enthusiasm, meanwhile, has taken a step back. After 21 consecutive days of inflows, US spot XRP ETFs recorded net outflows of $5.34 million on June 3. The Bitwise XRP ETF bled the most, losing roughly $4 million, while the Grayscale product shed another $700,000. Combined with the broader crypto correction that has pulled more than $1.5 billion out of digital asset products in recent days, the turnabout is notable. Since the ETFs’ launch in November 2025, cumulative net inflows still stand at a healthy $1.41 billion.

Large holders are also sitting on their hands. Over the past 30 days, so-called whales transferred just 978 million XRP from Binance to private wallets — the lowest monthly tally since 2021. That passivity was compounded by sales or rebalancing of around 60 million XRP in the past week alone, adding to price pressure.

Technically, the picture is decidedly bearish. The relative strength index on the daily chart sits at 23 — firmly in oversold territory, which historically has preceded bounces. But a “death cross” between the 20- and 50-week moving averages, coupled with declining open interest in futures markets, weighs heavily on sentiment. The price is also trading below both the 50-day and 200-day moving averages, confirming the downtrend.

Yet beneath the surface, accumulation appears to be underway. On Coinbase, buy orders outnumber sell orders by a margin of 7 to 1, a pattern some market observers interpret as institutions quietly building positions through automated limit orders. The XRP Ledger’s network activity reinforces that long-term view: the volume of tokenized assets on the chain has soared 340% since January 2026 to reach $3.68 billion, driven by platforms such as Justoken (energy assets) and Ondo Finance (tokenized treasuries). Evernorth, a Ripple partner that holds over 473 million XRP, is reportedly pursuing a SPAC listing.

On the regulatory front, the CLARITY Act — a US bill that could reduce legal uncertainty for XRP — has been flagged by SBI Holdings CEO Yoshitaka Kitao as a potential catalyst. Meanwhile, Société Générale is issuing its euro-denominated stablecoin EURCV on the XRP Ledger, and Ripple’s own RLUSD now flows through Mastercard’s real-time settlement infrastructure, with initial partners including Cross River Bank, Lead Bank, and Nuvei.

The contrast could hardly be sharper: the ecosystem is building at full tilt, but the token price remains trapped near multi-month lows. Whether the $1.14 floor holds or breaks will likely determine the next leg for XRP.