The cryptocurrency market continues to plummet, and Ripple (XRP) is no exception to this general trend. In the last four trading sessions, the price of XRP has continuously decreased, hitting a low of $2.0715 on June 13, down 11% from the short-term peak for the week and losing up to 36% from the year's high in early 2025.
Notably, the decline occurs against the backdrop of the XRP Ledger ecosystem continuing to expand. Circle – the company behind the USD Coin (USDC) stablecoin – has recently integrated USDC into this network. Data from Circle shows that the USDC supply on the XRP Ledger has exceeded $2 million since the integration. This is considered a significant step in promoting the liquidity and applicability of this network.
Besides Circle, another major name, Ondo Finance, has also just expanded its tokenized treasuries product to the XRP Ledger through a partnership agreement with Guggenheim Partners – an investment fund managing nearly $350 billion in assets. The participation of large financial institutions further strengthens the potential role of the XRP Ledger in the institutional decentralized finance (DeFi) sector.
However, despite the positive signs of infrastructure expansion, the price of XRP remains in a clear downtrend. Technical analysis shows that XRP is trading below both the 50-day EMA and the 200-day EMA – a sign that the sellers are in control. A descending triangle is forming on the daily chart, with a downward sloping resistance line since January and a horizontal support line at $1.9097 – coinciding with the 50% Fibonacci retracement level.
If the price breaks through this support level, it is highly likely that XRP will slide deeper into the $1 range – a crucial psychological bottom. Conversely, if the price manages to surpass the downward resistance line, a recovery back to the $3.40 range – the year's peak – could return.
Meanwhile, a bright spot attracting attention is the stable growth of Ripple USD (RLUSD) – a new stablecoin issued by Ripple. In just the first two weeks of June, RLUSD's market capitalization has grown from $309 million to $413 million, approaching the $500 million mark. With this growth momentum, RLUSD could reach the half-billion USD milestone as early as June or early July, becoming an important pillar in Ripple's ecosystem going forward.
Additionally, investors are also placing high hopes on the U.S. Securities and Exchange Commission (SEC) approving a spot exchange-traded fund (ETF) for XRP. Current estimates show the probability of approval reaching up to 90%. Notably, the deadline for the SEC to make a decision on Franklin Templeton's XRP ETF proposal is June 16. While it is likely that the SEC will postpone the decision until October, market sentiment still leans towards a positive scenario in the medium to long term.
In summary, XRP is entering a "whirlpool" of significant volatility. Investors need to closely monitor important technical thresholds, while also not overlooking the increasingly prominent role of stablecoin RLUSD as well as policy drivers from the SEC. Whether a big breakout will occur upwards or a collapse will happen will be the central question in the coming weeks.
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