XRP cleaned out leverage, now ETF demand has to prove itself
XRP’s late-June selloff removed much of the excess leverage that had raised liquidation risk, leaving a cleaner but still uncertain setup. XRP now trades near $1.08 with a market value around $67 billion, and futures conditions are less crowded than during the washout, when long liquidations spiked and open interest fell. The key question is whether real demand can replace leverage. Spot volume is meaningful, but futures still dominate visible turnover, so a rebound driven only by reduced forced selling may not last. Sustained upside likely needs spot buyers and ETF allocations to keep absorbing supply without a renewed build-up in leveraged positions. Recent ETF flow data shows selective XRP demand even as Bitcoin and Ethereum funds saw heavy outflows. XRP products have posted positive inflows, but at a modest scale. That makes the signal encouraging, not निर्णative. XRP’s next move depends on whether ETF and spot buying persist enough to support price above the relief created by lower liquidation pressure.
