The numbers tell two sharply conflicting stories for XRP. While the token has shed nearly 38% of its value since the start of the year and sits at $1.17 — a staggering 68% below its July 2025 peak of $3.65 — institutional money is pouring in at a pace not seen in 2025. Exchange-traded products dedicated to XRP attracted $132 million in May alone, making it the strongest month of the year. During the same period, Bitcoin and Ethereum funds suffered heavy redemptions, underscoring a selective appetite for digital assets.
That institutional conviction is mirrored on-chain. After an initial wave of panic that saw roughly 23 million XRP rushed onto centralized exchanges, the pattern reversed abruptly. More than 25 million tokens have since been withdrawn from trading platforms, a move typically associated with accumulation by deep-pocketed holders. Long-term investors expanded their positions by 22% in late May, signalling they view the current price territory as an entry point rather than an exit.
A rebranded ledger arrives on June 15
Amid the market turbulence, the XRP Ledger is preparing a technical milestone. On June 15 the network will activate version 3.2.0 of its core software, which comes with a symbolic and practical overhaul. The software, previously known as “rippled,” has been renamed “xrpld” to underscore that the ledger is an open protocol independent of Ripple Inc. Roughly 84% of XRPL nodes already run version 3.1.3, so the upgrade path is largely clear.
The new release promises a 40% reduction in server storage requirements, allowing nodes to operate more efficiently under heavier transaction loads. That efficiency is becoming critical as the network expands into DeFi applications, tokenization of real-world assets, and stablecoin settlements. Separately, the XRP Ledger Foundation published a draft proposal in late May for so-called AMM Swappable Curves, which would let liquidity providers choose among pricing formulas such as StableSwap or concentrated liquidity models. The aim is lower slippage and better capital efficiency, especially for stablecoins and tokenized assets. The proposal remains in draft form and requires validator approval — a process that can take months.
Should investors sell immediately? Or is it worth buying XRP?
Price action trapped between support and resistance
Technically, XRP is in a precarious position. The token trades well below its 50-day moving average of $1.36 and near a critical support level at $1.03. A break below that floor would open the door to a test of the psychologically important $1.00 mark. On the upside, reclaiming $1.36 with conviction would require a meaningful pick-up in volume.
The current correction has lasted roughly 350 days. Historical XRP bear phases have stretched between 400 and 790 days and produced drawdowns of 85% to 90%. The present 70% decline is comparatively mild, which some analysts interpret as a sign of a maturing market structure. The relative strength index sits at 34.5, deep in oversold territory, suggesting the selling pressure may be exhausting itself.
Washington looms as the next catalyst
Broader macro forces are adding headwinds. Geopolitical tensions in the Middle East and rising oil prices have sapped risk appetite across crypto markets, and XRP has been unable to decouple from Bitcoin’s weakness. The most anticipated potential catalyst now is the CLARITY Act, which passed the US Senate Banking Committee in May. A full Senate vote has yet to be scheduled. Analysts at Standard Chartered see a near-term price target of $2.80 and project double-digit levels in the coming years, contingent on the bill becoming law.
The disconnect between XRP’s flagging spot price and the pace of institutional accumulation is striking. The ledger upgrade on June 15 provides a concrete, measurable improvement, but whether it can act as a catalyst in a market beset by geopolitical unease and regulatory uncertainty remains an open question. For now, the token’s fate may hinge less on its own technical progress and more on the calendar in Washington.
Ad
XRP Stock: Buy or Sell?! New XRP Analysis from June 9 delivers the answer:
The latest XRP figures speak for themselves: Urgent action needed for XRP investors. Is it worth buying or should you sell? Find out what to do now in the current free analysis from June 9.
XRP: Buy or sell? Read more here...