XRP Price Stagnant Amid RLUSD Launch and Weak Futures Data

The price of XRP remained stagnant despite positive catalysts in the market. According to MEXC, Ripple's partnership with SBI Group has led to the launch of RLUSD in Japan, giving users access to regulated U.S. dollar-backed stablecoins.

However, the token's price showed little reaction to this announcement, trading near $1.06 after a weekly decline of nearly 5%. This is due to weak futures data and short sellers retaining control over derivatives markets.

The long-to-short ratio on CoinGlass stood at 0.95, indicating that traders were leaning towards downside exposure across derivatives markets. The funding rate turned negative at -0.0020%, with short traders paying long traders, further limiting any potential recovery attempt.

Despite the lack of immediate reaction to RLUSD's launch, XRP ETF inflows showed steady institutional interest, with DustyBC Crypto reporting $2.05 million worth of buys on June 24. However, this demand did not shift market structure, and derivatives positioning remained a dominant factor in determining short-term price movement.