XRP Whales Control 74% of Supply as Geopolitical Rally Fizzles at $1.30 Wall – But ETF Inflows and XRPL Overhaul Signal Long-Term Momentum

XRP jumped 13% after US-Iran peace reports, but stalled at $1.30 resistance. Whales now control 74.1% of supply, while Ripple rebrands core software to 'xrpld' and XRP ETFs see continued inflows.

A brief ceasefire in geopolitical tensions sent XRP soaring 13% in a matter of hours on June 16, but the rally ran headfirst into a formidable wall at $1.30. The token hit an intraday peak of $1.28 before profit-taking dragged it back to around $1.22 – a level that still leaves it roughly 35% in the red since the start of the year.

The move higher was triggered by reports of a peace agreement between the US and Iran, which rekindled risk appetite across crypto markets. Yet the real story lies beneath the surface: while retail traders sold into the volatility, the largest holders have been quietly accumulating at a pace that now gives them an iron grip on the circulating supply.

On-chain data from Santiment reveals that wallets holding at least one million XRP now control 74.1% of all tokens in circulation – roughly 45.98 billion XRP. These whales have added 1.53 billion tokens to their hoards over the past six months, a pattern that suggests long-term conviction rather than short-term speculation. The concentration does carry a risk: if large positions near key resistance zones begin to unwind, the selling pressure could be severe.

The rally itself was backed by a surge in trading volumes. Spot markets saw over 180 million XRP change hands, while derivatives turnover jumped 133% to $4.26 billion. Short liquidations reached nearly $7 million, catching bears off guard. But the advance stalled precisely where technical resistance was thickest: the $1.30 psychological mark coincides with the 50-day exponential moving average at $1.2831. That dual barrier proved insurmountable for now.

Technicians are watching the Fibonacci retracement level at $1.2440 as a pivot point. If immediate support at $1.20 – reinforced by the 20-day EMA at $1.2094 – fails to hold, a retest of the June low near $1.10 becomes a real possibility. On the upside, a clean break above $1.30 opens the door to targets at $1.38, $1.59, and eventually $2.00.

Amid the price turbulence, Ripple is pressing ahead with its infrastructure overhaul. On June 15, the XRP Ledger activated version 3.2.0, which reduces RAM consumption by 30–40% and introduces the fixCleanup3_2_0 amendment to plug security gaps in single asset vaults, decentralized exchanges, and lending protocols. More symbolically, the core server software has been renamed from rippled to xrpld ("XRP Ledger Daemon") – a deliberate move to distance the network's identity from Ripple Inc., potentially easing regulatory concerns in the US. Validators and node operators are required to migrate to the new version.

Institutional demand continues to flow in despite the token's price weakness. XRP spot ETFs have now recorded six consecutive weeks of net inflows. The cumulative total since their launch in November 2025 stands at $1.44 billion, with the week ending June 12 alone adding $10.68 million. The strongest month so far was May 2026, which brought in $131.94 million.

Ripple's stablecoin RLUSD has also gained traction, reaching a market capitalization of roughly $1.63 billion. About 82% of that supply resides on Ethereum, with the remainder on the XRP Ledger. BNY Mellon acts as custodian for the reserves. Meanwhile, tokenized real-world assets on the XRP Ledger now total $3.7 billion across 293 projects, including energy-backed commodities and tokenized US Treasuries.

The company is also expanding its footprint in Africa. On June 16, Ripple participated in the Series E funding round of Flutterwave, the African payments fintech valued at $3.2 billion. The goal is to integrate RLUSD and the XRP Ledger into Flutterwave's infrastructure, enabling settlement across 34 African markets. The partnership mirrors Ripple's broader strategy of driving utility for the ledger without relying solely on XRP price appreciation.

The immediate catalyst for the next leg comes from the US Federal Reserve. The FOMC meeting concludes Wednesday, and a hawkish surprise could sap risk appetite across crypto, pushing XRP back toward the critical $1.20 support zone. For now, the token sits at $1.22, caught between a whale-backed long-term bullish thesis and a technical landscape that demands a decisive breakout above $1.30 to regain upward momentum.