XRP fell more than 4.4% over the past 24 hours, slipping to about $1.02. Earlier in the day, the token traded near $1.049, before settling into a $1.02 to $1.05 range. The move came during a broader crypto selloff linked to weakness in technology stocks. Over the same stretch, total market liquidations climbed to more than $1 billion.
Binance derivatives readings stayed close to historical norms
One of the indicators highlighted in the source tracks the gap between XRP perpetual futures volume and spot trading volume on Binance. The latest reading showed a volume difference of about 0.51, while the 30-day Z-Score came in at 0.17. That level suggests the imbalance between derivatives and spot activity is still within a normal range when measured against the past month.
The Z-Score is a statistical measure of how far a data point sits from its historical average. Values near zero usually point to relatively stable behavior. Large positive or negative readings tend to show that market positioning has moved well away from recent norms. In XRP’s case, perpetual futures are still more active than spot markets, but not at an extreme level.
Earlier momentum in April and May did not carry into this decline
The report noted that in April and May, sharp gains in XRP were accompanied by stronger perpetual futures activity, at times widening the gap with spot trading. That pattern has eased. As prices pulled back, speculative interest also appears to have cooled, bringing the indicator back toward a more balanced level.
That matters because the data did not show the kind of aggressive leverage loading often seen before sharp market moves. At the same time, there was no sign of a broad retreat from the XRP derivatives market. Positioning looked more restrained, not absent.
RLUSD launches on a Japanese exchange as ETF inflows slow in June
Beyond price action, the source pointed to two Ripple-related developments. Ripple’s stablecoin RLUSD was listed by SBI VC Trade in Japan, making it the first Japanese exchange to offer the asset. The article cited X Finance Bull as saying the listing opens new regulatory channels for the Ripple ecosystem and described RLUSD as fully compliant with zero fees.
Spot XRP ETF flows also remained positive, though at a slower pace. Net inflows totaled $31.32 million in June, down from $132 million in May. Since launch in November 2025, spot XRP ETF products have brought in more than $1.43 billion in cumulative inflows. The price decline, based on that data, has not erased institutional demand for XRP products.