Bottom line: Price was rough, but the underlying story is mixed-positive. Institutions kept buying via ETFs, Ripple landed in a huge stablecoin coalition, RLUSD is growing, and network usage is up. The one thing everyone is waiting on — the CLARITY Act — is delayed but not dead.
Price — rough week
XRP hit a 19-month low in late June, briefly touching around $1.01. By July 5 it had climbed back to $1.14. Still, it was down 7% for the week and 19% for the month, sitting about 72% below its July 2025 peak of $3.65. MEXC + 2
Open USD — the big headline
On June 30, a group called Open Standard launched Open USD (OUSD), a dollar-backed stablecoin backed by over 140 companies — Visa, Mastercard, BlackRock, Google, Coinbase, Stripe, and more. Ripple signed on as a day-one integration partner. Sensei
Here's the catch though — Open USD doesn't run on the XRP Ledger. It launches on Solana, Stellar, Base, and Polygon. XRP is not its settlement token. So it's a win for Ripple the company's reputation, not necessarily for XRP the coin directly. sensei
What IS concrete: Ripple's own stablecoin RLUSD surpassed Ethereum for the first time in late June at about $801M vs $795M on Ethereum, and Ripple minted another $225.8M on XRPL in early July. More RLUSD activity = more XRP burned in tiny amounts as fees. sensei
ETF inflows — institutions keep buying despite price drop
XRP ETFs hit 8 consecutive weeks of net inflows, pulling in $22.99M for the week ending June 26. Bitwise led with $11.18M in a single day. Meanwhile Bitcoin ETFs bled $444M in outflows the same period. Total cumulative inflows since the November 2025 ETF launch hit roughly $1.47 billion. BeInCryptosensei
CLARITY Act — stalled
The White House had hoped for a July 4th passage. Didn't happen. Congress went on Independence Day recess. Senators return July 13. The holdup is a fight over an ethics provision — bipartisan talks collapsed over language letting state AGs sue the DOJ. Without that resolved, the 7 Democratic votes needed to hit 60 aren't there. Polymarket odds for 2026 passage dropped from ~74% a month ago to ~48%. sensei
If it passes, XRP gets locked in as a commodity under CFTC — a big deal. But the window is closing fast before the August recess.
Network activity — actually growing
Nearly 5,000 new wallets were created in a single day in late June, the strongest growth spike in three months. Social sentiment hit a 3-month high with roughly 3.7 positive comments for every negative one. Daily active addresses on the XRP Ledger surged 71.7% between June 14–28, going from 23,000 to 39,500. MEXCMEXC