XRP Dips but Regulatory and On-Chain Strengths Grow

XRP’s price is down 0.11% over the past 24 hours, trading at $1.50 as of October 6, 2026. Despite the short-term dip, the token has gained 6.1% over the past 30 days, showing a more positive long-term trend.

A significant regulatory development has also emerged. CFTC Chairman Michael Selig reaffirmed XRP’s status as a digital commodity during a speech at the Fordham Law Blockchain Regulatory Symposium on October 5. The classification aligns with a joint interpretation by the CFTC and SEC, which includes XRP alongside Bitcoin and Ether as assets that derive value from supply-and-demand dynamics rather than managerial efforts.

On the XRP Ledger, stablecoin supply has surged to $1.32 billion, a 14.6% increase in just seven days. Ripple’s RLUSD stablecoin accounts for over 93% of this growth, putting the XRP Ledger in close competition with Plasma and Avalanche, which hold $1.36 billion and $1.39 billion in stablecoins, respectively.

While the short-term price movement may not reflect the broader trends, the combination of regulatory clarity and on-chain activity suggests a stronger underlying momentum for XRP. However, the durability of these developments remains uncertain and will depend on continued momentum in both regulation and stablecoin adoption.