XRP price stays near $1.37 as on‑chain activity spikes but demand

XRP hovered at $1.37 on May 22, 2026, roughly 62 % under its late‑2025 high of $3.65, even as the XRP Ledger recorded a record 2.7 million daily payments and nearly 27 000 active AMM pools [2].

Why price lags despite record usage

The ledger’s activity surged: daily successful payments climbed from about 1 million in late 2025 to over 2.7 million, and AMM pools exploded to nearly 27 000, supporting more than 16 000 unique tokens [2]. Tokenized real‑world assets on XRPL grew 35 % to $461 million in the last 30 days, and stablecoin transfers hit $1.19 billion [2]. Yet XRP’s market cap remains around $84 billion, and its price stayed flat, down 26 % year‑to‑date [2]. The disconnect stems from the token’s role as a transient bridge; funds move through XRP in seconds and are quickly sold, generating little lasting demand [2].

Supply dynamics and price ceiling

Ripple releases roughly 1 billion XRP from escrow each month, relocking 60‑80 % of that amount, leaving an effective net addition of 300‑400 million XRP per cycle [1]. This steady supply inflow dampens upward price pressure. Moreover, Glassnode data show about 60 % of holders bought near $1.44‑$1.46, creating a supply wall at that level; any breakout must first absorb these break‑even sellers [1]. The combination of continuous supply and a concentration of cost‑basis holders limits the token’s ability to rally despite growing network usage.

Market expectations vs. realistic targets

Analysts note that a $1,000 price would require a market cap of roughly $61 trillion—more than double the U.S. economy—making such a target unrealistic without a fundamental shift in XRP’s utility [1]. More modest forecasts place XRP at $5‑$10 if the CLARITY Act clears Congress after its May 14 Senate Banking Committee approval [1]. The key catalyst for any substantial price move would be a Federal Reserve master account that forces banks to settle directly in XRP, a proposal still under review with no public timeline [1].

What to watch

• $1.44‑$1.46 resistance – a break above could signal the first major supply‑side test.
• Monthly escrow release – 300‑400 million new XRP entering circulation each month may cap price upside.
• Regulatory milestones – the outcome of the CLARITY Act (Senate Banking Committee vote on May 14) and any decision on Ripple’s Federal Reserve master account application.

The stark gap between record‑setting on‑chain activity and a stagnant price underscores that XRP’s current value is driven more by speculative positioning and ETF expectations than by the token’s own utility. Whether future regulatory approvals or a shift in how banks treat XRP will finally align usage with price remains an open question.