NEW YORK, June 24, 2026, 11:20 (EDT) – XRP extended its decline on Wednesday, dropping roughly 2.4% to $1.07 and trading near session lows. The digital asset's slide came as the U.S. dollar strengthened for a third consecutive session, reaching a year-to-date high amid rising expectations for a Federal Reserve rate hike. Broader cryptocurrency markets also weakened, with Bitcoin falling 2.2% to $60,857 and Ether slipping 0.8% to $1,640.
ETF Data Reveals Mark-to-Market Drag
Data from U.S. spot XRP exchange-traded funds (ETFs) underscored the pressure on the token. As of June 22, these funds held $993 million in net assets, compared with total cumulative net inflows of $1.452 billion. That left net assets $459 million—or 31.6%—below the sum of all money invested, reflecting a significant mark-to-market loss on capital deployed through the ETFs.
On the same day, the ETFs attracted an additional $5.31 million in net inflows, according to SoSoValue data. However, this fresh capital represented just 0.36% of XRP's $1.49 billion in 24-hour trading volume and less than 0.01% of its $66.7 billion market capitalization. The relatively modest inflow was insufficient to offset selling pressure from other market participants, highlighting the limited impact of ETF buying on the token's price amid broader market weakness.
Weekly Performance Lags Broader Market
XRP's recent underperformance has been stark. Over the past week, the token dropped 10.6%, more than double the 4.4% decline in the global cryptocurrency market. Bitcoin and Ether fell 6.4% and 6.9%, respectively, during the same period. Since the start of June, XRP has lost approximately 19.6% from its opening price of $1.331, compared with declines of 17.3% for Bitcoin and 18.2% for Ether.
Despite the price weakness, demand for XRP-focused investment products remains robust. Bitwise CEO Hunter Horsley noted on X (formerly Twitter) that the company's U.S. and European XRP products have attracted "over $200,000,000 of inflows year to date." This figure encompasses Bitwise offerings from both regions, though it does not represent the full U.S. ETF market.
Regulatory Development in Europe
In a separate development, Ripple announced it had received preliminary approval for a crypto-asset service provider license in Luxembourg under the European Union's Markets in Crypto-Assets (MiCA) regulation. Final authorization is still pending. If granted, the license would allow Ripple to offer services to clients across the European Economic Area's 30 countries. Cassie Craddock, Ripple's managing director for Britain and Europe, stated, "We are seeing that demand accelerate across the region." The license applies to Ripple's services and does not directly cover XRP itself.
Market Outlook and Technical Levels
The combination of faster ETF inflows and a weaker U.S. dollar could provide support for XRP. Traders currently view the $1.05–$1.10 range as a key support zone. A break below $1.05 would likely open the path toward the $1.00 psychological level, while a move above $1.18 could alleviate near-term selling pressure and signal a potential reversal.
As the broader crypto market continues to grapple with macroeconomic headwinds, including a strengthening dollar and shifting Fed rate expectations, XRP's near-term trajectory will depend on whether ETF buying can eventually outweigh the persistent selling from other sources.
