XRP Holds $1.10 as Whales Net 1.53B Tokens While Derivatives Bets Split on CLARITY Act

XRP News

Ripple has cleared another hurdle in its push to expand across Europe. Under the EU’s Markets in Crypto-Assets framework (MiCA), the company secured pre-approval from Luxembourg’s financial regulator, the CSSF, for a Crypto-Asset Service Provider (CASP) license. Speaking at a quarterly seminar on 22 June, Ripple Prime International CEO Mike Higgins said institutions are increasingly demanding round-the-clock capital mobility, noting that the Ripple USD stablecoin RLUSD and XRP are already being used as collateral. Higgins added that the underlying infrastructure is now ready and that more steps will follow this year. For a network built around cross-border payments, the development reinforces expectations that regulatory clarity could speed up institutional adoption.

The regulatory agenda in the United States is keeping expectations alive as well. The House Financial Services Committee will hold a hearing on 17 July titled “Building the Future of Finance: How the CLARITY Act Paves the Way for Innovation.” At the heart of the bill is a clearer framework for determining which digital assets count as securities and which qualify as commodities. That distinction is seen as critical for banks, asset managers and payment firms that have long stayed cautious amid rulebook uncertainty. Market watchers suggest the quickening legislative pace could yield tangible progress by August. With its positioning in cross-border payments and liquidity management, XRP is highlighted as one of the assets best placed to benefit from clearer rules.

On-chain, accelerating exchange outflows are drawing attention. On-chain data shows XRP withdrawals on Binance climbed to 53.8% of total flows, while deposits sat at 46.1% — meaning more tokens are leaving the platform than entering it. Similarly, a wallet tagged “ALLHEART” pulled 16.38 million XRP (about $18 million) off Kraken in a single transaction. Transfers of this size are typically associated with large holders or institutional participants. The drawdown in reserves is being read less as an intent to sell and more as a sign of long-term holding and a possible supply squeeze. Even so, analysts caution that flow data alone does not confirm price direction, since custody-related transfers can also distort the picture.

On the ecosystem side, the XRP Ledger is preparing for native lending. Regulated yield protocol SOIL announced it is focusing on the XLS-65 and XLS-66 proposals to build the network’s first native credit application. XLS-65 defines a Single Asset Vault structure that lets different users pool the same asset in a shared vault, while XLS-66 aims to connect that liquidity to lending markets. The work follows the network’s v3.2.0 mainnet upgrade, though the features require the amendments to be approved by the network before they go live. If ratified, the changes could open a new chapter for yield products, credit markets and automated market maker (AMM) liquidity pools on the XRPL. A demo shared by SOIL offered an early look at how the system could function on testnet.

Meanwhile, close Ripple partner SBI Holdings has launched its Japanese-yen-backed JPYSC stablecoin on the Ethereum network. Opened to SBI VC Trade customers and issued by SBI Shinsei Trust Bank, the token claims to be Japan’s first trust-bank-based “trust-type” stablecoin. Startale Group handled the project’s blockchain integration. SBI Holdings CEO Yoshitaka Kitao said the migration of financial functions on-chain has become irreversible. For now, JPYSC can only be used within SBI VC Trade; moving to external wallets and public-chain transfers awaits regulatory approval. Differing from the classic algorithmic stablecoin model, the design targets institutional use for foreign-exchange liquidity pools and cross-border transfers.

On the price front, XRP is trying to hold a critical technical level amid a broad sell-off. As Bitcoin slid to a 21-month low, pressure spread across major altcoins including Ethereum, Solana and Dogecoin, pushing XRP toward the $1 threshold. Analyst Diana frames the 0.786 Fibonacci retracement zone near $1.09 as the key near-term line of defense. If that level holds, a relief rally toward $1.11 and then $1.18 looks possible. Should support give way, an Elliott Wave-based scenario suggests price could pull back into the $0.90–$0.87 range, a zone that could act as a final flush-out area. Broad weakness in risk appetite, meanwhile, is feeding bear market concerns.

(as of 06:43 UTC) According to COINOTAG’s 42-indicator composite support/resistance scoring engine (as of 06:41 UTC), the $1.0993 resistance stands out as the strongest barrier at 69/100, drawing strength from the convergence of HVN 4, R2-R3 and the prior day’s high. Below, the $1.0371 support scores 68/100 via the ATR Lower and Donchian Lower sources, while $1.0741 scores 63/100 on S1 and BB Lower. Derivatives data are mixed: the funding rate is mildly negative at -0.0038%, open interest is $708 million, and the long/short account ratio is 3.00 (75% long). An RSI of 36 and a negative MACD signal confirm the downward bias, while the Fear and Greed Index sits at 12 in “Extreme Fear” territory. Holding above $1.0993 would open the bullish case, whereas losing $1.0371 invalidates the thesis; the asset’s distance from its all-time high (ATH) keeps the risk in play.