XRP held near $1.10 after a sharp drop, as bearish signals and broader market pressure weighed on sentiment while long liquidations amplified losses. At 12:44 p.m. EDT on June 23, XRP traded at $1.09976, down 3.22% over the past 24 hours. The token remained close to the session low of $1.09084 after retreating from a 24-hour high of $1.14288.

Ether is trading around $1,664, with the downtrend still in control and the June 5 low near $1,575 emerging as the next key test. Even as the price weakens, active-address readings have surged, diverging from the pattern seen in the 2023 bear market. Separately, the Ethereum Foundation is cutting its 2026 budget by roughly 40% as it shifts toward a longer-horizon spending model.

Ripple has secured preliminary approval for a MiCA Crypto Asset Service Provider (CASP) license from Luxembourg’s financial regulator, the CSSF. Once finalized, the license can be passported across all 30 EEA countries. The company said the preliminary approval is a “Green Light Letter” and is not yet full authorization.

Glassnode’s Altcoin Cycle Signal is at 86, a level typically associated with altcoin season. CoinMarketCap’s Altcoin Season Index, however, is at 45, which still points to a Bitcoin-led market. The divergence reflects different methodologies: alts are “outperforming” mainly because they are falling less than Bitcoin, not because they are rising.

The widening gap between app-level revenue and token performance is becoming harder to overlook. In some cases, strong network activity is not translating into direct value for token holders.

Institutional demand for Ripple-linked token XRP is accelerating despite broader bearish market conditions.

Arcium ($ARX) surged 241% to $0.4437 following its highly anticipated Token Generation Event (TGE) and immediate tier-1 exchange listings. Powered by its Cerberus MPC protocol on Solana and a massive 14M institutional backing from Jump Crypto and Coinbase Ventures, ARX is emerging as the premier decentralized confidential computing layer for Web3 and AI.

Five former Ethereum Foundation researchers have launched Ethlabs, an independent nonprofit R&D group backed by Ethereum co-founder Joe Lubin and major ETH treasury firms. The move signals that some core Ethereum research is shifting into independently funded organizations outside the Ethereum Foundation. The shift could influence how Ethereum evolves as more institutional capital moves on-chain.