The host of The Coin Bureau has released a stark breakdown of XRP’s current predicament: the token is “in the toilet,” yet large holders are buying more aggressively than at any point since 2018.
In a new YouTube video, the analyst argues that XRP is now defined by a sharp split between a collapsing price chart and rapidly improving institutional, regulatory, and technical fundamentals.
Record Crypto Whale Accumulation As Price Breaks Down
XRP’s price is down over 39% in 2026, trading roughly 70% below its $3.65 all-time high and almost 30% under its 200-day moving average around $1.59.
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The 14-day RSI hovers near technically oversold levels at 31.7, while the broader crypto market sits in “extreme fear” and Bitcoin has fallen below $60,000.
Despite that backdrop, on-chain data shows large wallets steadily adding to their positions. Addresses holding at least 10,000 XRP have reached an all-time high of 332,230 and have been climbing since mid-2024.
Crypto wallets with over 1 million XRP added 1.2 billion tokens in Q1 2026, the heaviest quarterly accumulation since 2023.
Mega-whale wallets with more than 10 million XRP now control about 45.83 billion tokens—68.5% of circulating supply—while over 25 million XRP left exchanges when price touched $1.09, according to the host.
Ripple’s Bank Charter, RLUSD Push & Regulatory Gambit
In the background, Ripple has quietly secured a conditional national trust bank charter from the OCC, with the rule activating in April 2026.
The charter, while not a full commercial banking license, gives the firm a federally supervised platform for custody and oversight of its RLUSD stablecoin. Ripple is also pursuing a Federal Reserve master account, though decisions are paused until the end of 2026.
RLUSD itself has grown to about $1.7 billion in market cap, making it the eighth-largest stablecoin and now live on more than 40 networks. MasterCard added RLUSD to its 24/7 on-chain settlement stack in June alongside USDC and PYUSD.
In May, Ripple, JPMorgan’s Konexus, MasterCard and Ondo Finance used the XRP Ledger to redeem a tokenized US Treasury fund in under five seconds—exactly the institutional settlement use case XRP supporters have long touted.
The XRP Ledger is evolving in parallel. A June upgrade to version 3.2.0 formally renames the core server software from “Ripple” to “XRPLD,” a symbolic break meant to emphasize the network’s independence from the company.
The Coin Bureau update cuts node memory requirements by 30–40%, and upcoming standards such as XLS-66 (fixed-term lending) and X402 (AI agents paying autonomously in XRP and RLUSD) are moving through development. The analyst cites roughly $3.5 billion in tokenized real-world assets on XRPL and record active addresses around 8.35 million.
Clarity Act As Binary Catalyst.. Or Another Delayed Risk
Legislation is framed as the true swing factor. The SEC’s case against Ripple is over, with a 2025 settlement confirming XRP is not a security when sold on public exchanges and reducing Ripple’s penalty to $50 million. Both the SEC and CFTC currently signal they treat XRP as a digital commodity, but that status remains vulnerable to a change in administration.
The Clarity Act would lock XRP’s commodity classification into federal law. It has already passed the House (294–134) and cleared the Senate Banking Committee (15–9).
If it gets fully approved by the Senate and XRP ETFs attract $10 billion in cumulative inflows, Standard Chartered reportedly pegs a conditional price target near $8 per XRP.
Prediction markets, however, now see the bill as close to a coin flip, and if it misses the pre-August window, the next realistic chance may not come until 2030.
Risks are significant. Ripple still releases around 1 billion XRP from escrow each month, typically re-locking most but still adding an estimated $150–$222 million in potential monthly sell pressure at current prices.
RLUSD could also be cannibalizing XRP’s role: roughly 80% of the stablecoin circulates on Ethereum, and several of Ripple’s most prominent 2026 deals appear to settle in RLUSD rather than XRP.
Meanwhile, Goldman Sachs has fully exited its roughly $154 million XRP ETF exposure while retaining about $700 million in Bitcoin positions, which the host reads as a vote of relative conviction.
For now, XRP ETF flows remain positive—about $132 million in net inflows in May—with new institutional names such as UBS and Bank of America taking positions.
The Coin Bureau YouTube show host argues that the bear case is already visible on the chart, while the bull case depends on a legislative binary event that has not yet occurred.
Traders are left watching three fault lines: the $1 price level, continued whale accumulation, and whether Ripple’s future deals settle in XRP or RLUSD.
For crypto investors, XRP has become a test of whether legal clarity and tokenized finance infrastructure can outweigh dilution risk and the gravitational pull of a successful, chain-agnostic stablecoin.
The market will likely get an answer not from a new partnership announcement, but from the U.S. Senate calendar.
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A 2025 settlement confirmed XRP is not a security when sold on public exchanges, and regulators currently treat it as a digital commodity, though that stance is not yet enshrined in law.
The analyst points to the Clarity Act, which would codify XRP’s commodity status and potentially unlock larger ETF inflows if it passes the Senate.
Because many of Ripple’s new deals appear to use RLUSD rather than XRP, there is concern that the stablecoin could capture most of the economic value while XRP holders see limited direct benefit.
XRP ETFs saw record inflows in May and new institutional entrants, even as Goldman Sachs fully exited its XRP exposure, highlighting a split in institutional views.
