XRP Hits $1.14 as Mastercard Deal, RLUSD Turkey Launch Fail to Halt Selloff

XRP plunges to $1.14, down 37% YTD, as institutional outflows and liquidations overshadow Ripple’s Mastercard integration and tokenization boom.

Ripple is stacking operational wins at a furious pace, yet the market is selling the token with equal intensity. XRP tumbled to a fresh 52-week low of $1.14 on Thursday, extending its year-to-date drawdown to nearly 37%. Positive developments — from a Mastercard integration to a Turkish stablecoin rollout — have been met with what can only be described as a brutal indifference from traders.

The payments giant Mastercard has incorporated Ripple’s new stablecoin RLUSD into its global clearing system, enabling end-to-end settlement of card transactions with the XRP Ledger serving as one of the core blockchains. The move complements Ripple’s push into Turkey, where RLUSD went live on June 4. Local platforms now offer the digital dollar for payments and tokenization in a market that processes an estimated $200 billion in annual crypto volume.

Beyond stablecoins, the XRP Ledger’s tokenization business is on a tear. The network celebrated its 14th anniversary just as the total value of tokenised real-world assets hit $3.68 billion in early June — a 344% surge since the start of the year. That growth rate outpaces Ethereum’s in this segment, with institutions such as Societe Generale and Ondo Finance already active on the ledger. Since its inception, the network has processed more than 4.4 billion transactions.

None of this has stopped institutional capital from fleeing. US spot XRP ETFs posted net outflows of $5.34 million on Wednesday, led by the Bitwise XRP ETF, interrupting what had been weeks of inflows. Cumulative net inflows across the product class remain at $1.42 billion, but the tide is clearly turning. Open interest in the futures market also shrank by nearly $400 million, a further sign that leveraged bulls are throwing in the towel.

The forced unwind has been brutal. Exchanges liquidated roughly $26 million in XRP positions within 24 hours, virtually all of them long. The token now trades some distance below both its 50-day and 200-day moving averages. The relative strength index (RSI) has plunged to 25, deep in oversold territory — a level that has historically preceded sharp bounces. Still, the immediate technical picture is precarious. If the $1.14 support level gives way, the next floor could lie near $1.11, with some analysts eyeing a test of parity.

External shocks are amplifying the pain. Rising oil prices on geopolitical tensions in the Middle East have investors shunning risk assets. Bitcoin slipped below $63,000, stoking a climate of extreme fear across crypto markets. For XRP, each progressive fundamental milestone is being treated as an opportunity to sell rather than a reason to buy. The question now is whether the oversold condition can trigger the snap-back that history suggests is possible — or whether the selling has further to run.