XRP, despite recent pressure from co-founder Chris Larsen and a 20% price drop, remains above $3, highlighting its resilience.
Sale of Chris Larsen's Tokens
Chris Larsen has sold over 100 million XRP tokens worth around $200 million but still retains nearly 2.58 billion XRP. These large-scale sales have raised concerns among investors; however, analysts believe XRP is still well-positioned due to growing institutional interest.
Growth of RLUSD Stablecoin
Ripple's stablecoin RLUSD has experienced explosive growth, rising over 600% in the past six months to exceed a market cap of $500 million. While 83% of its use is currently on Ethereum, its existence directly benefits XRP. RLUSD trading on the XRPL DEX uses XRP as a bridge asset through auto-bridging, leading to the burning of XRP with each transaction.
Shift in Analysts' Views on XRP
Analysts who were previously skeptical about XRP during its legal battle with the SEC have changed their tune following Ripple's legal wins and strategic growth. They now acknowledge the real-world utility of XRP and its alignment with institutional interests. If Bitcoin hits $150K, they estimate XRP could rise to $5–$9 by 2026.
XRP demonstrates significant resilience in the market despite recent events. Meanwhile, growing institutional interest and the success of the RLUSD stablecoin could positively impact its future.
