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Jungle

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<a href="https://www.thestreet.com/crypto/tag/xrp" rel="noopener noreferrer nofollow">XRP</a> has been on a tumultuous journey this June, losing more than 15% of its value in the month.
But as the&nbsp;<a href="https://www.thestreet.com/crypto/markets/millionaires-control-75-of-xrp-supply" rel="noopener noreferrer nofollow">news</a> of the peace deal between the United States and Iran circulated, XRP's price reached $1.29 on June 15. But the enthusiasm faded out, with the price again declining over the next few days.
The U.S. spot exchange-traded funds (ETFs) tied to XRP are also facing a difficult month.
<figure><a href="https://sosovalue.com/assets/etf/us-xrp-spot" rel="noopener noreferrer nofollow"><img src="https://www.thestreet.com/.image/c_fit%2Ch_675%2Cw_1200/MjI0MTk3MTc2NjE4NjU3NzU2/screenshot-2026-06-19-212014.png" height="675" width="795"></a>
 <figcaption>
 Total XRP Spot ETF Net Inflow, Source: SoSoValue
 </figcaption>
</figure>
While the first week saw a net inflow of only $2.62 million, the next two weeks saw the figure rising to $10 million each, as per <a href="https://sosovalue.com/assets/etf/us-xrp-spot" rel="noopener noreferrer nofollow">SoSo Value</a>.
But whales are abandoning XRP.
<a href="https://www.thestreet.com/crypto/markets/1-7t-wall-street-giant-eyes-turning-dividends-into-bitcoin" rel="noopener noreferrer nofollow">Related: $1.7T Wall Street giant eyes turning dividends into Bitcoin</a>
<h2 id="whales-dump-30-million-xrp-in-5-days">Whales dump 30 million XRP in 5 days</h2>
As per the <a href="https://x.com/alicharts/status/2067833754270286181" rel="noopener noreferrer nofollow">Santiment data</a> shared by the crypto analyst Ali Martinez, XRP whales have dumped more than 30 million tokens during June 12-17.
As a consequence, the number of XRP tokens held by whales has declined to 3.78 billion on June 17.
<figure><a href="https://x.com/alicharts/status/2067833754270286181" rel="noopener noreferrer nofollow"><img src="https://www.thestreet.com/.image/c_fit%2Ch_675%2Cw_1200/MjI0MTk3MzE0MDU3NjExMjI4/hlfalmpxyaaxici.jpg" height="675" width="540"></a>
 <figcaption>
 XRP held by whales, Source: Santiment via Ali Martinez
 </figcaption>
</figure>
<a href="https://www.thestreet.com/crypto/markets/millionaires-control-75-of-xrp-supply" rel="noopener noreferrer nofollow">As reported earlier</a>, wallets&nbsp;holding at least 1 million XRP tokens hold around 75% of the entire supply. But even large holders are dumping the cryptocurrency amid the price plunge.
<h3 id="popular-on-thestreet-roundtable">Popular on TheStreet Roundtable:</h3>
<ul>
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 <li><a href="https://www.thestreet.com/crypto/markets/cathie-wood-predicts-bitcoin-to-1-25-million-as-supply-vanishes" rel="noopener noreferrer nofollow">Cathie Wood predicts Bitcoin to $1.25 million as supply vanishes</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/michael-saylor-reveals-key-reason-for-bitcoins-crash" rel="noopener noreferrer nofollow">Michael Saylor reveals key reason for Bitcoin's crash</a></li>
</ul>
<h2 id="analyst-blames-sec-lawsuit-for-xrp-s-fate">Analyst blames SEC lawsuit for XRP's fate</h2>
An analyst, known as Jungle Inc on X, recently <a href="https://x.com/jungleincxrp/status/2065485970913493026" rel="noopener noreferrer nofollow">blamed</a> the <a href="https://www.sec.gov/newsroom/press-releases/2020-338" rel="noopener noreferrer nofollow">lawsuit</a> brought by the&nbsp;Securities and Exchange Commission (SEC) against <a href="https://www.thestreet.com/crypto/investing/ripple-reveals-shocking-new-750m-share-buyback" rel="noopener noreferrer nofollow">Ripple</a> in December 2020 for&nbsp;selling unregistered securities via the sale of XRP tokens.
The landmark lawsuit became the rallying cry for the entire crypto industry in the U.S.
The case went on for years until a ruling in July 2023 concluded that XRP isn't a security when sold to retail investors via&nbsp;programmatic sales on crypto exchanges, but it's a security when sold to&nbsp;institutions.
Both parties appealed the order and kept clashing for years until they decided to dismiss their appeals and <a href="https://www.thestreet.com/crypto/policy/sec-and-ripple-case-is-officially-over" rel="noopener noreferrer nofollow">settle the matter</a>&nbsp;in August&nbsp;last year.
As per&nbsp;Jungle Inc's analysis, XRP would be trading at&nbsp;$24.50 if not for the lawsuit.
<figure><a href="https://app.decibel.trade/trade/XRP-USD" rel="noopener noreferrer nofollow"></a>
 <figcaption>
 XRP/USD, Source: Decibel
 </figcaption>
</figure>
XRP was trading at $1.13 at press time, <a href="https://app.decibel.trade/trade/XRP-USD" rel="noopener noreferrer nofollow">as per Decibel</a>.
<a href="https://www.thestreet.com/crypto/markets/nobel-winning-economist-has-stark-bitcoin-warning-for-spacex-bulls" rel="noopener noreferrer nofollow">Related: Nobel-winning economist has stark Bitcoin warning for SpaceX bulls</a>

Whales dump XRP worth millions

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