XRP Trapped at $1.16 as Institutional Stablecoin Adoption Surges While Liquidations Mount

XRP trades at $1.16, down 38% YTD, as SG-FORGE launches EURCV on XRPL and RLUSD hits $1.8B — yet long liquidations and oversold RSI of 23 signal deep bearishness.

The gap between XRP’s fundamental momentum and its market price has rarely been wider. While Société Générale’s digital arm SG-FORGE is rolling out its euro-denominated stablecoin EURCV on the XRP Ledger and Ripple’s own RLUSD token has ballooned to $1.8 billion, XRP itself is trading at $1.16 — a far cry from its 52-week peak of $3.65.

SG-FORGE’s decision to bring EURCV to XRPL, alongside Ethereum, Stellar and Solana, marks a milestone for institutional adoption of the network. The French bank cited XRPL’s fast settlement speeds, low transaction costs and efficient liquidity management as key draws. Europe’s MiCA regulatory framework provides the legal certainty that makes such moves viable, and EURCV has emerged as the leading euro stablecoin in a market long dominated by dollar-pegged assets. The integration is part of a broader trend of banks shifting real payment flows onto public blockchain rails.

Ripple is doubling down on similar infrastructure in Turkey, where it has launched RLUSD through partnerships with BiLira, Bitexen and Bitlo. The country’s annual crypto trading volume is estimated at roughly $200 billion, making it a strategic battleground for stablecoin adoption. Ripple is also collaborating with Istanbul Technical University on blockchain research and plans to run an XRPL validator on campus — a move that ties the network closer to academic and institutional payment corridors.

Yet all this activity has done little to arrest XRP’s slide. The token has lost 38.19% since the start of the year and 16.61% over the past 30 days. In the last week alone it dropped 11.13%, with Thursday’s session adding another 2.52% to the red. The Relative Strength Index has sunk to 23.0, deep into oversold territory.

The selling pressure has been amplified by a cascade of forced liquidations. Within a 24-hour window, leveraged long positions worth between $14 million and $18 million were wiped out. At one stage the ratio of long to short positions stood at a staggering 1,614%, meaning even modest price declines triggered automatic sell-offs that fed further weakness. Historically, June has been a difficult month for XRP — since 2018 the token has regularly posted negative returns during this period.

Institutional demand, however, tells a different story. XRP spot ETFs have now recorded 16 consecutive days of net inflows through May 29, bringing cumulative inflows since their November 2025 launch to roughly $1.42 billion. In May alone, more than $131 million flowed into these products. That stands in stark contrast to bitcoin ETFs, which bled over $3 billion in outflows over three weeks. Morgan Stanley has disclosed initial XRP ETF positions, though they remain small — around $15,488 per holding.

RLUSD has also gained considerable heft. The stablecoin’s market capitalization has swelled to $1.8 billion, up from $340 million at the end of the first quarter, and its 30-day trading volume now reaches $22 billion. Mastercard is using RLUSD for round-the-clock settlements on the XRP Ledger, adding another layer of institutional validation.

On-chain data reinforces the narrative of expanding usage. Average daily transactions on XRPL jumped 35% quarter over quarter to 2.48 million in Q1 2026, while the market for tokenised real-world assets on the ledger surged 124% to $2.25 billion.

Regulatory clarity may provide the next catalyst. The so-called “Clarity Act” — which passed the Senate Banking Committee and was added to the Senate calendar on June 1 — aims to delineate the jurisdictions of the SEC and CFTC over digital assets, offering Wall Street banks and payment firms a clearer compliance roadmap.

For now, though, XRP remains glued to the $1.20 zone. If it fails to reclaim that level, the next area of support lies between $1.00 and $1.05. The combination of ETF inflows, stablecoin expansion and regulatory progress may eventually outweigh the technical damage — but the immediate picture is one of a token caught between two very different realities.