XRP slides to $1, its lowest since Nov 2024, amid rising on‑chain

XRP fell to about $1 on June 27, 2026 – its weakest level since November 2024 – as the token’s price slipped more than 50 % over the past year despite growing on‑chain usage and institutional inflows [1].

Price pressure meets network growth

The drop to $1 comes as the broader crypto market remains depressed, with Bitcoin hovering near $60,000 [1]. Yet Ripple’s ecosystem is expanding: the XRP Ledger’s liquidity pools have more than tripled this year, and the proposed XRPL Lending Protocol – a dual upgrade (XLS‑65/66) that would let institutions lend and borrow assets on‑chain – entered testing on Monday [3]. Despite these advances, the token’s price has not benefited, largely because Ripple’s own dollar‑pegged stablecoin, RLUSD, now holds roughly $800 million on the ledger and accounts for about 82 % of its supply in ten large addresses [1]. This shift directs payment volume to RLUSD rather than XRP, limiting price upside.

Supply dynamics and institutional demand

Ripple still controls around 33 billion XRP in escrow, releasing roughly 1 billion each month on a fixed schedule [1]. With about 62 billion of the eventual 100 billion supply already circulating, the fully‑diluted market cap sits near $102 billion versus a current market cap of roughly $63 billion [1]. Meanwhile, XRP ETFs have attracted $1.47 bn in inflows, sustaining demand even as the token slides [1]. Analysts at Standard Chartered maintain a $28 target for 2030, a 27‑fold rise from today’s price, but that forecast hinges on XRP capturing a larger share of Ripple’s cross‑border payment volume [1].

Outlook and price targets

Bitwise’s valuation model shows a wide range for 2030, from $29.32 at the high end to $0.13 at the low, reflecting divergent assumptions about XRP’s role in settlement traffic [1]. More modest forecasts place XRP between $8 and $12 by 2030, suggesting a gradual grind rather than a rally [1]. The key uncertainty is whether the upcoming CLARITY Act, which would permanently classify XRP as a commodity, passes before the Senate recess, potentially unlocking larger institutional inflows [1].

What to watch

• $1.10‑$1.20 resistance – a decisive break above this band could signal a recovery, per on‑chain analysts [2].
• CLARITY Act progress – legislative movement before the summer Senate recess could affect institutional flows [1].
• XRPL Lending Protocol approval – validator sign‑off on XLS‑65/66 would enable on‑chain credit, potentially boosting XRP utility [3].

XRP’s price is now decoupled from its network’s expanding activity, leaving investors to weigh whether upcoming regulatory clarity and on‑chain lending features can translate into higher token demand or if the stablecoin‑centric model will keep XRP sidelined.