XRP Trading Volume Surges 62% to $1.8B as Price Recovers to $1.15 in Late June

XRP recovered from a late-June low of $1.00–$1.04 to above $1.15, with trading volume surging approximately 62% within a 24-hour window to reach $1.8 billion, according to Coinglass data. The spike in volume signals genuine market re-engagement following a period of subdued activity, with short position liquidations between June 26 and 28 contributing to the initial rally as funding rates plunged into deeply negative territory.

Meanwhile, on-chain supply dynamics show a tightening picture: Binance's XRP reserves have fallen roughly 20% since November 2024, with the Scarcity Index hitting 0.77 this week—its highest reading in over two years, according to CryptoQuant. However, institutional interest has cooled, with net inflows to XRP spot ETFs dropping 55% month-over-month from $132 million in May to $59 million in June.