XRP Price Drops 27% as XRPL Activity Jumps 35% on Tokenized RWAs
XRP is down 27% this quarter (around $1.13), but XRPL on-chain data shows accelerating usage. Daily transactions on the XRP Ledger have risen 35% to 2.48 million, suggesting growing engagement despite weaker price sentiment.
A major driver is tokenized real-world assets (RWAs). The value of RWAs issued on XRPL has surged 124% to a record $2.25B. Broader RWA figures tied to the ecosystem reportedly expanded from about $147M a year ago to roughly $4.18B (an estimated 28x increase in 12 months).
Meanwhile, Ripple’s dollar-backed stablecoin RLUSD is also gaining traction, with market cap up 45% to $340M. Together, these developments point to stronger settlement and liquidity activity on XRPL, even as XRP’s market price lags.
Traders appear cautious, with XRP investor confidence reportedly at an 8-month low while waiting for a clearer catalyst. The key takeaway for market participants: XRPL fundamentals are strengthening faster than XRP’s chart in the short term, which could set up a valuation reset if adoption momentum persists.
Neutral
This is a mixed-signal story for trading. XRP price is falling (down 27%), which typically pressures sentiment and can keep short-term sellers active. However, XRPL network activity is rising (daily transactions +35%), while tokenized RWAs (+124% to a record $2.25B) and RLUSD adoption (+45% market cap to $340M) suggest improving real usage and liquidity.
In past crypto cycles, similar “fundamentals up while price lags” periods often mean the market is waiting for confirmation—either a broader risk-on environment or a direct catalyst that converts adoption into demand for the native asset. If on-chain momentum continues, a bullish rerating can follow (higher probability of breakouts or mean reversion). If price weakness persists despite strong activity, the divergence can widen and keep traders in a cautious, range-bound posture—especially if macro conditions remain unfavorable.
Net effect: near-term volatility risk remains because XRP is still underperforming, but the fundamental trend provides a constructive floor. Traders may favor monitoring XRPL transaction growth, RWA issuance, and RLUSD inflows/outflows for clues on when the gap between XRP price and network fundamentals starts to close.