XRP has a lot going for it. So why is it still trading 60% below its all-time high?

What exactly is holding back XRP’s price?

On paper, the cryptocurrency created by Ripple has a lot going for it. The company behind the digital asset ended its long-running legal dustup with the Securities and Exchange Commission in 2025, and is increasingly expanding its business.

At the same time, investors are pouring millions into US XRP exchange-traded funds, and the crypto industry has a key ally in the White House.

And yet, XRP is trading 64% below the record price set in July.

“I’m just not convinced that in this marketplace, XRP is going to succeed at regaining the stature that it once had, which is sad and unfortunate,” Ric Edelman, founder of Edelman Financial Engines, told DL News.

He argued that the asset’s reputation was hurt badly after the SEC targeted Ripple in its lawsuit in 2020.

However, not everyone agrees with that bearish sentiment.

So, what’s likely to drive the price of XRP?

ETF inflows

Despite the market downturn, the seven XRP exchange-traded funds manage around $1.1 billion in assets, according to CoinShares data. Bitwise’s product is the most successful, taking in the lion’s share of trading volume.

Bitwise Asset Management’s chief investment officer, Matt Hougan, told DL News that despite market conditions, the fund didn’t experience outflows until March.

“The fact that it has all those flows despite XRP’s price being down is a good sign,” Bloomberg senior ETF analyst Eric Balchunas told DL News. 

He noted that, while these numbers are “pretty small compared to Bitcoin” funds which pulled in $107 billion in fresh cash in their first year, they are very good compared to most other ETFs.

“You just can’t compare them to Bitcoin [ETFs],” he added. “Which is a freak of nature.”

Edelman rejects that sentiment. He argues that the reason why people are investing into the XRP ETFs are the same people who believe that it will somehow return to its former glory.

He says that’s unlikely.

“Let’s be honest, the flows are positive but they’re really low — will it in the end matter?” Edelman said.

Donald Trump effect

Still, things are in place to work in XRP’s favour. US President Donald Trump is one of them.

As part of his mission to make the country the “crypto capital of the world”, Trump included XRP in the government’s strategic digital asset reserve announcement in March 2025.

Ripple donated to the Trump campaign and the financial services company’s chiefs have attended events at the White House — including ones aimed at shaping crypto policy.

In February, Ripple’s Chief Legal Officer, Stuart Alderoty, joined other crypto bigwigs in the White House to negotiate with banking chiefs on how to get the crypto market structure bill through.

Trump sided with the crypto industry this month when he demanded the bill get passed.

Market woes

But like many other cryptocurrencies, XRP will likely only reach new highs when Bitcoin makes a comeback.

The leading cryptocurrency is now nearly 50% below the all-time high it notched in October. Investor fears around the Federal Reserve keeping interest rates high, the ongoing war in Iran aren’t helping risk-on assets like digital assets.

“What XRP probably needs is for Bitcoin to come back,” Balchunas told DL News. 

“And then probably need some more good news, some more adoption. But it’s a thing that exists in the ecosystem; it’s one of the top tokens, and the ETFs have been pretty successful,” he continued, adding that the coin is “one to watch” among the altcoins — it could experience a big run if Bitcoin breaks new highs.

Polymarket punters aren’t currently feeling confident, though: the crypto-powered betting site puts odds that the coin will drop below $1 at 76%.

Ripple wins

Yet, in the midst of all those woes, Ripple keeps growing.

While the fintech company and the coin are separate entities, good things for Ripple tend to mean good things for the price of XRP.

And the firm, hoping to go public this year, hit a valuation of $50 billion, according to reports. That’s more than double that of stablecoin giant, Circle.

The company, while distancing itself from the coin, has debuted a stablecoin, has its flagship blockchain and ledger, and has made a number of top acquisitions.

All of which could end up pumping the price of the fifth biggest cryptocurrency. Eventually.

Mathew Di Salvo is a news correspondent with DL News. Got a tip? Email at [email protected].