Ripple Files U.S. Trademarks as XRP Traders Record 47% Losses

Ripple filed trademark applications in the United States listing services that include treasury operations, prime brokerage, hedge fund management, securities lending, financial clearinghouse services and digital asset management. The company has been expanding institutional products such as Ripple Prime, an institutional trading desk; Ripple Custody, an asset custody service; and Ripple Payments, a cross‑border settlement layer. Ripple operates the RLUSD stablecoin for liquidity and treasury workflows across those units.

Blockchain analytics firm Santiment reported that the average trader active over the past 30 days held about 47% unrealized losses. Santiment also reported that XRP’s 30‑day market‑value‑to‑realized‑value (MVRV) ratio fell to its lowest level since December 2020 and that the token’s positive‑to‑negative commentary ratio compressed to roughly 1.1 bullish remarks for every bearish one.

Derivatives and spot exchange data show a divergence in trading behavior. CryptoQuant data indicate that on May 22 Binance added about 25.6 million XRP to open interest and Bybit added about 54 million XRP, a combined increase near 79.6 million XRP with a notional value around $107 million at the time. On May 26 Binance added another 28.9 million XRP and Bybit added 42.9 million XRP, equal to roughly $96 million in new positioning at an average price near $1.34.

The cumulative volume delta for Binance perpetual futures reached a record negative reading of about -$641.9 million, indicating dominant short selling in the perpetual market. Estimated spot cumulative volume delta across centralized exchanges rose to about $397.3 million, surpassing a $380 million level set in late April. Those figures reflect increased leveraged shorting on derivatives venues while estimated spot volumes show net buying on spot venues.

U.S.-listed spot XRP exchange‑traded funds recorded recent inflows that data tracked by SoSoValue put at about $117 million in May. The ETFs extended a positive streak to 13 consecutive trading sessions and pushed cumulative ETF inflows above $1.12 billion.

On‑chain metrics showed a spike in XRP Ledger transaction counts in April 2026. CryptoQuant highlighted that prior vertical surges in XRPL activity-November 2019 and July 2024-occurred before substantial price increases in later months. After the April 2026 transaction surge, XRP traded mostly in a consolidation range between about $1.30 and $1.50.

Some market participants project theoretical cycle targets in the $7.50 to $8.00 range, and they describe those projections as speculative and dependent on future market developments. Market data presented here include trademark filings, product builds, derivatives positioning, spot volumes, ETF inflows and on‑chain transaction counts.