XRP tumbles to 2026 low as whale selling overwhelms ETF demand
In brief
- XRP trading at $1.11, down 17% from June opening and hitting 2026 lows
- Glassnode data shows 90-day profit-to-loss ratio fell to 0.38, signaling capitulation
- Seven US spot ETFs hold 923.7M XRP with $1B combined AUM; cumulative inflows near $1.45B
- Large whales dumping: 91.4% outflow dominance on Binance, XRP Ledger fees collapsed 91.5%
- Wallets holding 10M+ XRP now control 45.83B tokens, most since May 2018
Profit-taking and realized losses drive the correction
Glassnode's June 9 data shows loss realization as the primary pressure on XRP's price, with the token's 90-day realized profit-to-loss ratio falling to 0.38. The firm described the current reading as intense capitulation, with XRP's aggregate realized price sitting near $1.48, placing the average holder underwater at current prices.
This marks a dramatic reversal from the speculative peak in 2025, when XRP's 90-day realized profit-to-loss ratio reached 50, with gains outpacing losses by 50 to 1. The swing underscores how quickly retail and institutional conviction can evaporate.
On the XRP Ledger itself, the picture looks bleaker. The 90-day average of total fees paid fell from 5,900 XRP in February 2025 to 500 XRP by June 9, a 91.5% decline. Glassnode attributed this collapse to a near-total contraction in organic transaction demand since the prior speculative phase ended.
Whales dumping across exchanges
CryptoQuant's exchange flow analysis shows XRP whale outflow dominance reached 91.4% on Binance and 90.5% across centralized exchanges. The dominance of outflows over inflows suggests large holders are liquidating positions aggressively.
Yet large-holder accumulation patterns tell a different story. Santiment's May data noted that wallets holding at least 10 million XRP controlled 45.83 billion XRP, the most since May 2018. Meanwhile, the number of wallets holding at least 10,000 XRP reached an all-time high of 332,230. These metrics suggest some whales are buying the dip, but not at a pace sufficient to absorb the selling pressure.
ETF inflows persist despite price collapse
Regulated demand for XRP hasn't stopped. Seven US spot XRP ETFs are now live, holding approximately 923.7 million XRP in custody as of June 10, with combined AUM near $1 billion. Cumulative net inflows to XRP ETFs since the November 2025 launch have approached $1.45 billion.
May's $131.94 million monthly inflow was the strongest since December and ran for 20 consecutive days before a $5.34 million outflow on June 3 broke the streak. The shift signals that ETF buying power, while substantial, is being absorbed by spot-market selling without producing a sustained rebound.
One bright spot: CryptoQuant framed declining XRP inflows to Binance as a possible sign of growing whale confidence, suggesting some large holders may be moving coins off exchange in anticipation of a recovery.
Regulatory tailwinds on the horizon
Longer-term, regulatory clarity could shift the dynamics. Standard Chartered has projected $4 billion to $8 billion in XRP ETF inflows for 2026 if the CLARITY Act passes. Polymarket currently prices at a 47% likelihood of passing in 2026.
For now, though, the near-term price action is dictated by loss realization and whale selling. Whether the accumulation by smaller holders and ETF inflows can form a floor remains the open question.
