XRP Bounces on SWIFT Pilot News Despite Institutional Outflows

The pilot includes major financial players like Standard Chartered and UBS, both of which maintain existing ties to Ripple’s infrastructure. This development builds on Ripple Treasury’s entry into the SWIFT Certified Partner Program earlier in April 2026. However, market observers warn that the project’s reliance on tokenized deposits as a bridge asset may decouple the initiative from the XRP token itself, limiting its utility as a layer-1 gas token.

Institutional data suggests a more cautious outlook. Spot XRP exchange-traded funds saw $7.29 million in net outflows on July 8, marking the largest single-day withdrawal since March 2026. Derivatives markets mirror this hesitation, with the long-to-short ratio dipping to 0.96 and open interest contracting to $2.33 billion. Technical indicators further complicate the picture, as the token struggles to reclaim resistance near $1.094. With the MACD histogram showing fading momentum, traders are watching the psychological $1 support level as the primary defense against further downside.