XRP logged a third straight month of ETF inflows in June, pulling in $59.4 million even as the token traded near its lowest level in over a year. Beneath the price, leveraged bets have been flushed out to a one-year low while large wallets keep buying — a cleaner base, but still without a catalyst to lift the price.
XRP drew $59.4 million into its ETFs in June, the fund’s third straight positive month even as the token traded near its lowest level in more than a year. XRP and Hyperliquid funds were the only crypto ETFs taking in money during the month. Over the same stretch, Bitcoin ETFs bled a record $4 billion. Ethereum ETFs lost $528.99 million on top of that.
Leverage flushed out to a one-year low
Most of XRP’s slide toward $1 came not from investors selling but from leverage getting flushed out. Open interest collapsed from about $1.3 billion to under $150 million, its lowest in a year. Long liquidations spiked more than 800% above their normal level during the drop. A single burst wiped out about $6.7 million, and funding rates turned negative.
With fewer leveraged positions left, price moves are now driven more by actual buying and selling than by borrowed money amplifying every swing. That is a cleaner base to build from, though it does not lift the price on its own.
Whales and institutions keep accumulating
Large wallets now hold roughly 74% of the XRP supply, buying even as smaller holders sold into fear. They got there after adding around 1.53 billion tokens over the past six months. Over a few days in late June, coins moving off exchanges jumped from about 40 million to roughly 123 million XRP, a pattern that usually signals holders shifting coins into private wallets to hold. Institutional flows echoed the trend, with spot XRP ETFs logging their eighth straight week of inflows. That streak pushed cumulative net flows to roughly $1.48 billion.
Still waiting on a catalyst
XRP rose 1.41% to $1.0613 in the session ending July 2, but it underperformed the broader crypto market by 1.27%, keeping the move modest. The token remains below every major moving average, with the nearest resistance around $1.11. The next level sits near $1.20.
The clearest potential trigger is the CLARITY Act, which would classify tokens like XRP as commodities, but talks recently broke down and the Senate does not return until July 13. XRP also still tends to track Bitcoin, so with Bitcoin stuck around $60,000, that pressure is overriding the on-chain positives. Some analysts have flagged early reversal signals, though those only hint at a possible bottom rather than confirm one.
Sources: Benzinga, 24/7 Wall St., CoinDesk
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