XRP News Today: XRP Gains 2.03% in June, Whales Accumulate 310 Million XRP

XRP, the cryptocurrency developed by Ripple Labs, has been gaining attention in the digital asset market, with some analysts speculating about its potential to challenge Ethereum's dominance in the third quarter of the year. Ethereum, renowned for its smart contract capabilities and decentralized applications, has long been a leader in the crypto space. However, XRP's recent developments and strategic partnerships have sparked discussions about its ability to disrupt Ethereum's position.

One of the key factors driving this speculation is XRP's focus on cross-border payments and remittances. Ripple Labs has been actively working with financial institutions to integrate XRP into their payment systems, aiming to provide faster and more cost-effective transactions. This strategic move has positioned XRP as a strong contender in the global payments sector, which could potentially attract more users and investors.

Additionally, XRP's technology and infrastructure have been praised for their efficiency and scalability. The cryptocurrency's consensus algorithm, known as the Ripple Protocol Consensus Algorithm (RPCA), allows for quick transaction confirmations and low fees, making it an attractive option for both individual users and institutional investors. This technological advantage could give XRP an edge over Ethereum, which has faced criticism for its high gas fees and network congestion.

Historically, such reversals in XRP/ETH have preceded periods of relative strength for the former. Take Q1 as an example: ETH ended the quarter with a sharp 45.41% drawdown, while XRP held steady with a flat close. During that stretch, XRP/ETH surged by nearly 83%. It was a clear signal of capital rotation away from ETH into XRP. Naturally, the question now is—could Q3 be setting up for a similar reallocation? Especially with Funding Rates rising, hinting that leveraged bets on XRP are starting to build again.

On the monthly scale, XRP posted a 2.03% gain from its $2.17 open, while Ethereum slipped 2%, despite bouncing off $2,119. Under the surface, XRP’s on-chain dynamics are signaling a shift in power. In June alone, the 10 million–100 million XRP whale cohort added nearly 310 million XRP to their bags. This brings their collective holdings to 8.11 billion XRP, making them the most dominant cohort by supply for the first time this cycle. That’s no trivial move. Naturally, it strengthens the case for a capital rotation, supported by both technical structure and on-chain conviction.

In fact, with Funding Rates climbing and the XRP/ETH rebound intact, both strategic and speculative players seem to be leaning in. If this momentum holds, we could be looking at a setup similar to Q1, where XRP flipped the script on Ethereum. A fresh rotation might just be underway. And this time, XRP’s riding in with serious backing.

However, Ethereum's strong ecosystem and developer community remain significant barriers for XRP. Ethereum's smart contract platform has fostered the growth of numerous decentralized applications (dApps) and decentralized finance (DeFi) projects, creating a robust network effect that is difficult to replicate. Ethereum's upcoming transition to Ethereum 2.0, which aims to address scalability and energy efficiency issues, could further solidify its position in the market.

Despite these challenges, XRP's potential to disrupt Ethereum's dominance cannot be overlooked. The cryptocurrency's strategic partnerships, technological advantages, and focus on cross-border payments make it a formidable competitor in the digital asset space. As the third quarter approaches, it will be interesting to see how XRP performs and whether it can challenge Ethereum's leadership.