XRP Tumbles to $1.14 as Whale Moves and Market Rout Eclipse Mastercard Deal and RLUSD Boom

XRP falls to $1.14 as $1.6B crypto liquidation wave hits; whale transfers, ETF outflows, and deep oversold RSI contrast with Mastercard RLUSD integration and tokenized asset surge.

The divergence between XRP’s on-chain fundamentals and its spot price has rarely been starker. While the XRP Ledger processes record tokenized asset volumes and RLUSD gains institutional traction via Mastercard, the token itself sank to a fresh four-month nadir on Friday, touching $1.14 — within a whisker of its 52-week low.

The trigger was a market-wide liquidation cascade. Across the crypto sector, over $1.6 billion in leveraged positions were wiped out in 24 hours on June 4, dragging total market cap from $2.31 trillion to $2.18 trillion in a single day. XRP bore the brunt: roughly $30 million in leveraged XRP positions were liquidated, and the asset’s market value slipped below $75 billion, allowing USDC to overtake it in the rankings by market capitalization.

Whale-driven supply overhang

Analyst Ali Martinez, citing Santiment data, flagged a movement or redistribution of 60 million XRP from whale wallets in the first week of June. Such transfers do not automatically represent sales, but they intensify scrutiny of potential overhead supply zones — especially when the broader market is already risk-off. Trading volume hovered near $2.9 billion, suggesting elevated activity met a fragile bid.

The technical damage had started earlier. XRP failed to reclaim the $1.55 resistance zone roughly three weeks ago. Since then, attention has shifted from breakout targets to lower supports. The token now trades about 30% below its 200-day moving average, and the relative strength index (RSI) stands at 21.4 — deeply oversold territory.

Institutional flows flip negative at the worst moment

June 3 brought a major milestone: Mastercard announced it would integrate Ripple’s RLUSD stablecoin into its global settlement network, enabling round-the-clock on-chain clearing for card transactions across multiple blockchains including XRPL. The first phase will involve financial institutions and payment providers in the U.S. and Latin America. Parallel to that, Ripple launched RLUSD in Turkey through partnerships with BiLira, Bitexen and Bitlo — a market that processes roughly $200 billion in crypto turnover annually.

Yet the very same day, U.S. spot XRP ETFs recorded a net outflow of $5.34 million — the first negative print after 21 consecutive days of inflows. That reversed a bullish trend that had seen ETFs attract $131.94 million in net inflows during May. The timing was no coincidence: the broader liquidation wave simply overwhelmed the positive headlines.

Evernorth CEO Asheesh Birla, speaking at the XRP Las Vegas conference on June 4, revealed that RLUSD transaction volume had reached nearly $22 billion in the first quarter of 2026. The stablecoin’s complementary role to XRP was reiterated by Evernorth’s chief business officer Sagar Shah: RLUSD as a regulated dollar-pegged vehicle for fiat settlements, XRP as a neutral bridge asset for tokenized asset trading.

Tokenized assets surge on XRPL

Beyond payment rails, the XRP Ledger’s real-world asset (RWA) tokenization business is booming. The value of tokenized assets on XRPL hit $3.68 billion, up 13.79% over 30 days. That represents a staggering jump from roughly $900 million just five months ago. Key contributors include Justoken’s energy-based JMWH token — representing over $2 billion in electricity, each token backed by a megawatt-hour of power — as well as Ondo (tokenized Treasury bonds), VERT Capital, Guggenheim Treasury products, and Société Générale’s stablecoin operations.

The growth in infrastructure demand, however, is not yet translating into spot price support. With large holders redistributing tokens and the crypto market still in risk-off mode, any relief rally is likely to face a stiff liquidity test until spot demand proves strong enough to absorb the whale distribution. For now, XRP’s fundamentals are running ahead of its price — and the market’s patience is wearing thin.