XRP is on course for its strongest monthly gain in more than a year following a recovery from below $1, though a recent pullback and heavy whale activity are testing the rally's durability. Data shows the token trading near $1.40, down about 5% over 24 hours after reaching $1.70 during a broader market surge.
Despite the recent daily retreat, XRP is on track for a roughly 32% gain for the month, marking its best performance since July 2025, when it advanced about 35%. The recovery has been accompanied by increased demand for US spot exchange-traded funds and rising stablecoin activity on the XRP Ledger.
Institutional ETF Inflows Accelerate
Institutional demand persisted following the initial price breakout, with US spot XRP ETFs recording approximately $23.87 million in net inflows. This was the largest daily inflow for the products since May 11 and extended their positive flow streak to nine consecutive trading sessions. These funds have drawn in over $80 million in fresh capital during the month, bringing cumulative net subscriptions to roughly $1.59 billion since launch. Net assets stood at approximately $1.46 billion at the conclusion of recent trading.
Stablecoin Growth on the XRP Ledger
Dollar-denominated activity on the XRP Ledger has also accelerated during the recovery. Ripple's RLUSD stablecoin crossed $2 billion in circulating supply, with nearly half residing on the XRP Ledger and the remainder on Ethereum. Monthly transfer volume across the two networks reached about $11.8 billion.
Data from public company holder Evernorth indicated that RLUSD outstanding on the XRP Ledger increased 39% over several months to approximately $934 million. While this expansion highlights increased stablecoin turnover, analysts note that RLUSD can be issued, transferred, and redeemed without creating direct demand for the native XRP token.
Two-Way Whale Positioning
Large holders have moved substantial amounts of XRP onto and off Binance during the rebound, creating competing signals regarding accumulation and distribution. CryptoQuant data showed daily whale inflows to exchanges reaching roughly 460 million XRP, the highest level since February. Total whale inflows into Binance reached approximately 1.451 billion XRP over a 30-day period.
Conversely, large withdrawals have also been prominent. CryptoQuant analysts noted that large XRP withdrawals from Binance surged to 231 million tokens, representing the highest level in about six months. While large exchange deposits can precede selling or reflect portfolio management, significant withdrawals often reduce immediate sell-side supply and are associated with accumulation or long-term custody.
