XRP Price Plunges Despite Ripple's Commercial Success
XRP's price has declined significantly since its peak in July 2025 at $3.65. The token's performance is particularly noteworthy given Ripple, the company behind XRP, is experiencing commercial success. In the second quarter of 2025, Ripple Payments handled $1.3 trillion in transactions and works with over 300 institutions across 55 countries.
However, despite this growth, XRP has captured very little value from it. Four channels could potentially carry significant value across, but all four are small. Transaction fees burn about 27 XRP per day, worth roughly $29 against a $66 billion market cap. The number of active XRPL accounts fell by 51% in the first seven months of 2026.
The decline can be attributed to a precise sequence of events, beginning with the cycle top on July 17, 2025, at $3.65. The SEC case closing in August 2025 failed to boost XRP's price. Instead, XRP fell 41% in under 24 hours following a tariff-driven deleveraging event on October 10 and 11, 2025.
The recent price drop can be linked to the ETF launches. The first ETF, Canary's XRPC, launched on November 13, 2025, with $250 million of day-one inflows and $58 million of day-one volume, beating other ETF launches and Bitcoin and Ethereum debuts. However, this led to a decline in XRP's price.