XRP's Decline: Is Ripple's Growth Outpacing Its Own Cryptocurrency?

The idea that XRP can replace SWIFT in cross-border payments has been gaining traction in the crypto world. However, recent developments suggest that this notion may be unlikely to become a reality.

XRP's price has dropped 58.9% from its peak of $3.65 in July 2025, while Ripple's RLUSD stablecoin has seen an impressive 88% growth in 2026, bringing its market cap to $2.52 billion.

This growth in RLUSD raises questions about the role of XRP in Ripple's business model and whether banks are holding onto XRP as a neutral asset or using it for transactions.

Ripple promotes XRP as a solution for banks to move parked money, but this process assumes the risk of XRP's price fluctuations. In contrast, stablecoins like RLUSD can move quickly without losing value, making them a more attractive option for banks.

The launch of SWIFT's own blockchain ledger and the creation of bank-issued stablecoins by firms like SoFi Technologies further reduce XRP's utility in cross-border payments.