The heaviest topic in the cryptocurrency market recently has been Ripple's shift in its business structure. Ripple's CEO said the company aims for $1 billion in revenue from its payments and software businesses, excluding XRP. It was a declaration to build an independent revenue base and move beyond the perception of a company reliant on XRP's price.

That move took shape in cooperation with Mastercard. As Ripple joined Mastercard's AI payments network, it was not XRP but the RLUSD stablecoin that moved to the forefront. The strategy puts a fiat-linked payment instrument ahead of tokens and shows Ripple's center of gravity shifting from "coins" to "infrastructure". Ripple also accelerated its expansion even as issuance slowed, burning $55.9 million worth of RLUSD over seven days.

Ripple signaled that broader adoption of cryptocurrencies is imminent, saying, "Banks are already ready." At the same time, Ripple's CEO took direct aim at JPMorgan's business structure over the U.S. Clarity Act, showing no hesitation in a fight for leadership with traditional finance.

• Ripple CEO: "$1 billion revenue goal excluding XRP"...expanding payments and software • Ripple joins Mastercard AI payments network...XRP out, RLUSD takes center stage • Head-on clash over U.S. Clarity Act...Ripple CEO targets JPMorgan business structure • "Banks are already ready"...Ripple cites signals of broader crypto adoption

Market sentiment around XRP's price swung to extremes. Some analyses said that applying the bitcoin cycle suggested XRP could have risen to $24. Others pointed to abnormal signals in three key indicators and raised the possibility of a rebound of as much as 50 percent. The reality was harsh. In a bear market, whale withdrawals surged, with 500 million XRP leaving Binance alone, and market sentiment fell to its lowest level in 2026.

Technical analysis also diverged. Pessimists said XRP could be trapped in a long-term range after moving sideways for 800 days, while others said it could rebound with $1.12 and $1.25 as key thresholds. With transaction fees plunging 91 percent, defensive voices emerged saying it must hold not $1 but even $0.65.

Signals on the fundamentals were positive. A spot XRP ETF posted net inflows for five straight weeks, and Japan-listed Remixpoint disclosed it holds 1.19 million XRP on its balance sheet, extending the trend of institutional adoption. XRP, which had faced criticism as a "financial-sector coin," is being reassessed around an institution-focused strategy.

• "XRP could have risen to $24"...applying the bitcoin cycle • XRP may move sideways for 800 days...long-term range seen despite possibility of $1.15 low • XRP ETF logs net inflows for 5 straight weeks...bitcoin and ethereum see outflows • XRP, criticized as a "financial-sector coin"...institution-focused strategy reassessed

The Clarity Act, a U.S. bill on cryptocurrency market structure, again struggled to move forward this week. A key issue was an ethics provision targeting the Trump family's crypto business. The ethics provision that had been tentatively agreed was withdrawn, putting talks into renegotiation, and the original goal of enactment by July 4, Independence Day, appears effectively in doubt.

• U.S. Clarity Act: tentative agreement on Trump ethics provision withdrawn...renegotiation puts July passage goal in doubt • U.S. Clarity Act delayed as ethics provision deal fails...July 4 enactment goal in doubt

Bitcoin recovered $60,000, but uncertainties remain. The market pointed to $43,000 as a key support level, and Standard Chartered set this cycle's low at $59,000 while leaving room for further declines. Michael Saylor proposed a new "bitcoin per share" formula and advanced a valuation logic, saying, "The key is the shareholders' portion."

There is not only pessimism. Some pointed to the resilience of bitcoin, XRP and Cardano (ADA), saying, "Cryptocurrency is not dead," and a surge in Google searches for cryptocurrency also signaled a possible return of retail investors. Robert Kiyosaki, author of "Rich Dad Poor Dad," reaffirmed his call to buy bitcoin, ethereum and gold, saying, "Cash is trash."

• "Cryptocurrency is not dead"...focus on resilience of BTC, XRP and ADA • Bitcoin recovers $60,000 but uncertainties remain...key support at $43,000 • Google crypto searches surge...signs of retail investors returning • Michael Saylor proposes new "bitcoin per share" formula..."The key is the shareholders' portion"

Investors' attention is gradually shifting to altcoins and new products. Dogecoin was cited as a possible top-five coin by market capitalization by the end of 2026, based on reasons offered by an early developer, and a 3,100 percent rise scenario also emerged by applying past bull-market patterns. Standard Chartered also predicted a "40 times rise" coin as one that could climb more than bitcoin and ethereum.

• Dogecoin to become a "top-five market cap coin" by end-2026?...reasons cited by an early developer • "Rises more than bitcoin and ether"...coin Standard Chartered predicts for a "40 times" gain • T. Rowe Price crypto ETF clears regulatory hurdle...includes Shiba Inu and Dogecoin

Changes were also detected in the ETF market. T. Rowe Price's cryptocurrency ETF cleared a regulatory hurdle and included Shiba Inu and Dogecoin, and CME and Nasdaq launched cryptocurrency index futures spanning bitcoin through XRP.

• Fair Trade Commission seeks views on Dunamu-Naver Financial combination...securities industry says "concerns about entry barriers"

The Fair Trade Commission is collecting opinions from major securities firms during its review of a business combination between Dunamu and Naver Financial. Concerns are being raised that combining simple payments, digital asset trading and an unlisted stock brokerage platform could raise barriers to market entry. The commission plans to use the results of the opinion inquiry in deciding whether to approve the combination.