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XRP has failed to make holders rich like bitcoin and ether. Here’s why
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- DeepHorus
XRP remains stuck below its 2017-cycle high, leaving long-term holders far behind bitcoin and ether investors. The token trades near $1.33, about 62.5% below its January 2018 peak of $3.55. It briefly reached $3.66 in July 2025 but failed to sustain the breakout.
Analysts first cite supply growth. Nansen's Nicolai Sondergaard said XRP's circulating supply rose 63%, from 38.7 billion in 2017 to 63.1 billion, while total market value fell only 3%. More tokens mean each XRP represents a smaller share of roughly the same value.
Demand has also weakened. U.S.-listed XRP ETFs have attracted just $1.80 billion since debuting nearly a year ago, according to SoSoValue, while bitcoin ETFs often pull in over $1 billion in a single day. Nansen data shows XRP spot volume down 53.5%, perpetual futures volume down 44%, and active addresses down 10.7%.
Ripple's focus has shaped XRP's trajectory. The company prioritized cross-border payments, RLUSD, and trade-financing products rather than DeFi, AI, or memecoins, which drew capital and traditional-finance integration. Wincent's Paul Howard said this focus diverted attention from core XRP.
Regulatory uncertainty added pressure. The SEC sued Ripple, and the years-long case weighed on institutional demand and market confidence. XRP still lacks the broad ETF inflows and network activity seen in leading assets.
Looking ahead, XRP's recovery may depend on stronger ETF adoption, increased ledger usage, and Ripple's payment products gaining traction. Without those catalysts, the token could continue to lag bitcoin and ether. For buyers from the 2018 peak, the wait for a new all-time high remains costly.
