Key Insights:
- XRP price is showing one of its deepest RSI pullbacks while analysts say the broader chart structure remains intact.
- Spot XRP ETFs recorded a $5.34 million net outflow on June 3, the first negative flow of the month.
- Ripple minted 73 million RLUSD tokens, adding to the stablecoin supply as traders assess the market impact.
XRP price remains under pressure after a sharp drop in momentum on the monthly chart, while spot XRP ETF products posted their first net outflow of June. At the same time, Ripple’s RLUSD stablecoin continues to expand, giving traders another development to watch as the market looks for direction.
XRP Price Sees Deep RSI Pullback While Structure Holds
XRP has entered what some market watchers describe as one of the deepest momentum resets seen in recent years. Crypto analyst Egrag pointed to the Relative Strength Index (RSI) on the monthly chart.
He said the indicator has fallen to levels rarely seen during past XRP price cycles. Even with the drop, he argued that the wider chart structure has not been broken. His view is based on a long-running pattern that he calls the “1-2-3” setup. According to the analyst, that pattern is still visible despite the recent weakness.
He suggested that the latest decline could be acting as a second retest rather than a sign that the trend has completely failed. A key level now being watched is the RSI 44 mark. Egrag said XRP needs to move back above that area before traders can begin talking about stronger momentum returning to the market.
The latest pullback has hurt sentiment. Many traders who expected a faster recovery have been left disappointed by the slow price action. However, the analyst believes the chart still leaves room for a future move higher if support levels continue to hold.
Another market observer, Celal Kucuker, shared a similar reading. Looking at XRP’s monthly chart, he noted that major rallies in 2017, 2021, and 2024 were all preceded by deep momentum resets. He said the same indicator has now returned to a similar zone. That does not guarantee another rally.
Still, it has drawn attention because of how closely current conditions resemble earlier periods that later saw strong XRP price gains.
XRP ETF Flow Turns Negative in Early June
While traders studied the chart, ETF data showed a change in investor activity. Figures from SoSoValue showed that spot XRP ETFs recorded a daily net outflow of $5.34 million on June 3. It was the first net outflow reported since the start of the month.
The withdrawal came after a period of inflows that helped push cumulative net inflows to $1.42 billion. Even with the latest decline, the longer-term total remains firmly positive. Data from the platform also showed total net assets of about $1.03 billion.
One day of outflows does not necessarily signal a lasting trend. Fund flows often move in both directions as investors react to price changes and broader market conditions. Still, the latest figure has attracted attention because it arrived at a time when XRP is already facing pressure on the charts.
Many investors follow XRP ETF activity closely because it can offer clues about market demand. Strong inflows are usually viewed as a sign of growing interest, while outflows can point to caution among market participants. For now, the ETF picture remains mixed rather than clearly bullish or bearish.
RLUSD Supply Grows as Market Watches for Impact
Another development came from Ripple’s stablecoin business. Ripple Stablecoin Tracker reported that 73 million RLUSD tokens were minted at the RLUSD Treasury. The new issuance adds to the growing supply of Ripple’s dollar-backed stablecoin. While the mint caught the market’s attention, its direct effect on XRP remains unclear.
Stablecoin creation is often linked to rising liquidity because the coins can later be used for trading, payments, or transfers across different platforms. However, it is worth noting that a fresh mint does not automatically lead to buying activity in XRP. Instead, traders will likely watch whether RLUSD usage continues to grow in the coming weeks.
For now, XRP price sits between weak momentum, softer ETF demand, and expanding RLUSD supply. How those factors develop could help shape the token’s next move.
