XRP Ledger hosts $3.5B in tokenized assets, yet XRP remains stagnant under $1.50. The CLARITY Act may reclassify it as a commodity, sparking institutional demand.
The XRP Ledger is swelling with institutional adoption. Nearly $3.5 billion in tokenized assets now sit on the network, while banks such as Deutsche Bank, JPMorgan and Mastercard have signed on as clients. Yet the native token is struggling to escape a tight range, down roughly 21% year-to-date at $1.48 — a modest 7% weekly gain that has failed to spark sustained momentum.
A key technical barrier continues to hold. The price has bounced off the $1.50 mark four times this year, each rejection reinforcing a wall of supply. Sellers just below that level are largely investors looking to break even, leaving the token unable to reclaim its 200-day moving average near $1.72. The recent push above the 50-day line at $1.39 offers some breathing room, but traders remain cautious as long as the $1.50 ceiling holds.
The disconnect between network growth and token performance stems from the structure of Ripple’s partnerships. Most institutional clients use the XRP Ledger for asset tokenization but settle transactions in fiat currencies or the RLUSD stablecoin. XRP is only required to cover minimal network fees, so the token sees little direct demand from these deals. A recent $200 million credit line secured by Ripple for its Prime platform underscores the company’s focus on infrastructure, not XRP trading.
Should investors sell immediately? Or is it worth buying XRP?
Enter the CLARITY Act. The U.S. Senate Banking Committee approved the bill in mid-May with bipartisan support, setting the stage for a formal classification of XRP as a commodity under federal law. If the full Senate and House follow suit, banks would gain the legal clarity needed to use XRP directly for settlement. That prospect is already attracting capital: weekly inflows into XRP spot ETFs hit $60 million, the strongest since late 2025, pushing total fund assets to $1.37 billion. The Canary XRP ETF alone holds $300 million in token exposure.
Network activity is also accelerating. Active addresses climbed to a two-month high of over 48,000, while the number of wallets holding more than 10,000 XRP reached a record. On the development side, the next ledger upgrade will introduce native credit markets with fixed-term loans and automatic repayments. Separately, a four-phase plan aims to make the ledger quantum-resistant by 2028, allowing users to swap out vulnerable cryptographic keys without altering their accounts or assets.
For now, the path to a real breakout runs through Washington. The CLARITY Act remains a draft until the final congressional vote, and until it passes, the institutional appetite for XRP itself will stay tempered. The infrastructure is in place, the money is circling — but the token’s fate hinges on a legal green light that has yet to arrive.
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