XRP Stablecoin Surpasses $5 Billion as Whales Hoard Tokens Near Key Support

XRP's network adoption surges with RLUSD volume hitting $5.08B and exchange outflows tripling, yet price remains near $1.11 amid ETF outflow reversal and delayed CLARITY Act vote.

The XRP ecosystem is flashing deeply split signals. While the token itself struggles to hold above $1.10, the underlying network just crossed a milestone that underscores how far institutional adoption has come — and how disconnected that progress is from the current price action.

Ripple’s stablecoin RLUSD has reached a settlement volume of $5.08 billion on the XRP Ledger, up from just $68 million 18 months ago — a 75-fold explosion. Perhaps more telling, the XRP Ledger now hosts 51% of the total RLUSD supply, overtaking Ethereum as the primary home for the stablecoin. Institutional holders currently own $800 million worth of RLUSD on the blockchain, a base of liquidity that banks are tapping for cross-border payments and tokenized US Treasury products.

At the same time, large token holders are pulling supply off exchanges at an accelerating pace. On June 22, exchange outflows stood at around 40.7 million XRP. That figure has since tripled to roughly 123 million XRP — a roughly 200% surge in just a few days. The pattern suggests conviction buying from long-term oriented players who are moving their holdings into self-custody.

Yet the price remains pinned near multi-month lows. XRP changed hands at $1.11 at last check, up 5.49% on the day and 6.52% over the past week, but still down 8.15% over the last 30 days. The 52-week low of $1.01 was touched just days ago, and the token has shed nearly half its value since the start of the year. Measured from the July 2025 record high of $3.65, the decline is nearly 70%.

The institutional demand channel that had been propping up sentiment has also hit a speed bump. XRP spot ETFs had recorded net inflows for eight consecutive weeks, with nearly $23 million flowing in during the week ending June 26 alone. Cumulative net inflows since launch stand at roughly $1.47 billion. But that streak snapped on June 30, when the funds posted their first net outflow, coinciding with the end of the second quarter. Institutional and retail behavior are now moving in opposite directions while the token treads water.

A potentially significant regulatory catalyst is also slipping further into the future. The CLARITY Act, which cleared the Senate Banking Committee on May 14 with all Republican votes plus two Democrats, had been expected to reach the floor around July 4. That timeline has shifted. The Senate returns from recess in mid-July, making a full vote more likely in late July or early August. The delay removes a potential short-term trigger from the current accumulation phase.

Technicians see a narrow band of resistance overhead. The 0.382 Fibonacci retracement at $1.178 is the first hurdle, with the 20-period EMA around $1.22 and the 50-day moving average at $1.21 clustering just above it. A cost-basis heatmap reveals that roughly 22.8 million XRP were purchased between $1.18 and $1.19, and another 27.4 million between $1.21 and $1.22 — clusters that would need to be absorbed on any sustained breakout. To the downside, the psychological $1.00 mark has held so far, but a clean break could open the door to the $0.85–$0.90 zone.

Still, there are glimmers of a technical turn. XRP has broken a falling trendline that had capped the price for over a month, and the next resistance level sits at $1.12. The relative strength index at 47.1 signals neither overbought nor oversold conditions. Meanwhile, Binance’s XRP reserves have dropped to around 2.68 billion tokens, the lowest since March, with withdrawals exceeding deposits for seven consecutive days — a pattern that historically points to waning selling pressure and growing long-term positioning.

The technology layer is also evolving. The XRP Ledger is planning an "AMM Swappable Curves" upgrade that will introduce concentrated liquidity and StableSwap designs, aimed at improving capital efficiency for institutional trading pairs and stablecoin corridors. And the XRP Ledger Foundation has partnered with VS1 Finance to build an open-source, compliant lending application that embeds identity verification and compliance checks directly into the protocol, giving banks a regulated on-ramp to decentralized finance.

For now, the market is stuck in a standoff. Whale accumulation and network growth argue for patient conviction, while stalled ETF inflows, a delayed Senate vote, and a price stuck near $1.10 keep the near-term picture murky. Whether fresh ETF inflows or a concrete Senate calendar can break the deadlock will likely determine XRP’s direction in the weeks ahead.