Ripple News and XRP Price Update Today: July 1
Ripple stays one of the crucial mentioned topics within the crypto house as the corporate continues to advance its ecosystem and take part in main initiatives.
However, XRP has confronted heavy stress within the prolonged bear market, struggling to keep up momentum and maintain above the $1 psychological barrier.
Joining the Giants
Several hours in the past, Ripple announced that it’s “proud to hitch” Open USD as a “day-one integration accomplice,” reinforcing its dedication to multichain infrastructure supporting institutional adoption throughout the crypto house.
Open USD (OUSD) is a brand new stablecoin designed for large-scale world funds. It is built by the impartial group Open Standard and goals to deal with a number of points companies face when utilizing such monetary merchandise. OUSD is predicted to go stay later in 2026, and outstanding backers embody BlackRock, Visa, Mastercard, American Express, Coinbase, and others.
Just a couple of days in the past, Ripple received approval from the Japanese Financial Services Agency (JFSA) to launch its personal stablecoin (known as RULSD) within the nation. Shortly after, it revealed that final 12 months it had dedicated $25 million in RLUSD to assist underserved US small enterprise house owners and profession applications for navy veterans.
Despite these efforts, the stablecoin has misplaced some steam recently. Its market capitalization has dropped to roughly $1.4 billion, making it the Forty ninth-biggest cryptocurrency.
The ETFs
The institutional curiosity in XRP stays strong. Over the previous a number of weeks, ETF inflows have far exceeded outflows, signaling that pension funds, hedge funds, and different conservative market individuals proceed to extend their publicity to the asset.
Since day one, these merchandise have generated a cumulative whole web influx of just about $1.5 billion. Recall that the primary firm to launch a spot XRP ETF within the USA was Canary Capital, whereas shortly after, Bitwise, Franklin Templeton, 21Shares, and Grayscale adopted go well with.
It is necessary to notice that such funding automobiles with BTC and ETH as underlying belongings have been bleeding closely in current months, underscoring a transparent decline in institutional urge for food.
XRP Price Outlook
Despite the aforementioned developments, XRP continues its combat to remain above $1. As of press time, it trades at round $1.04, representing a 20% plunge on a month-to-month scale.
Earlier this week, analyst Ali Martinez revealed that the Tom DeMark Sequential Indicator has flashed a purchase sign on XRP and outlined the rising community exercise. At the identical time, although, he famous that whales have lowered their publicity to the asset, which could be interpreted as a bearish issue.
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