The XRP Ledger faces a critical countdown with the fixCleanup3_1_3 protocol upgrade set to activate on May 27. According to Boerse Global, less than half of the network's nodes have updated their software with barely two weeks remaining. The upgrade, published on May 8 under XRPL version 3.1.3, bundles a default-yes fix amendment targeting cleanup tasks including automatic purging of expired NFT offers and more rigorous enforcement of token limits on vault withdrawals. Community director Hussein Zangana warned that only about 40% of nodes had upgraded a week after release, raising concerns about potential amendment blocking that could temporarily disrupt transaction processing. However, the upgrade already enjoys 97.14% validator support, well above the 80% activation threshold required.
According to reports from AMBCrypto, XRP Futures notional trading volume reached $63 billion after one year of launch on the CME Group. This volume equivalent to 28.6 billion XRP tokens traded during the period, with an average daily volume of $238 million. The daily trading activity came from 1.32 million contracts, including micro XRP Futures, as reported by the CME Group. The data reflects growing institutional demand for regulated XRP exposure, with the CME Group's XRP Futures market leading in Open Interest (OI), driving this growth.
As reported by AMBCrypto, whales purchased over 71 million XRP tokens in just one week, pushing their total holdings from 3.71 billion to 3.79 billion tokens. The accumulation activity coincided with increased derivative trading, with long positions rising alongside Open Interest growth. The Open Interest increased from approximately $290 million to $310 million over two days, suggesting potential for a new trend approach. Meanwhile, wallets holding at least 10 million XRP now control over 68% of the supply — a level last seen in May 2018, with the number of wallets with at least 10,000 XRP hitting a record 332,230.
According to Bloomberg Intelligence, seven US-listed XRP ETFs now manage a combined $1.35 billion, holding approximately 881 million tokens. Cumulative net inflows since November stand at $1.36 billion, with 84% flowing from retail investors. JPMorgan has projected first-year inflows between $4 billion and $8.4 billion, though pension funds and large asset managers remain on the sidelines awaiting clearer legal footing. The ETF market growth includes five Spot XRP ETFs now holding approximately 1.34% of total XRP supply, with $97 million worth of XRP ETFs flowing in May alone, led by Bitwise at $345 million in assets under management.
As reported by AMBCrypto, long positions have been rising for derivative traders, with Net Positions data showing significant increases alongside Open Interest growth. The current price remains in a sideways consolidation between $1.34 and $1.38, with the token falling 27.5% year-to-date and trading around $1.37, roughly 19% below its 200-day moving average. The Digital Asset Market Clarity Act passed the Senate Banking Committee by a 15-9 vote and is targeted for White House signing on July 4, 2026, which could unlock institutional settlement use cases. The CME, together with Nasdaq Futures, plans to launch a market-cap-weighted crypto index on June 8 that includes XRP, while the XRPL upgrade activation on May 27 will serve as a real-world stress test for validator coordination.
