CoinDesk
XRP trades around $1.33, down 62.5% from its January 2018 peak of $3.55. Bitcoin, Ether and several other major cryptocurrencies have moved above their previous highs, while XRP remains below its own. It briefly topped the old record at $3.66 in July 2025 before falling back.
Why it matters
The price gap reflects more than market performance. XRP’s circulating supply grew 63%, from 38.7 billion in 2017 to 63.1 billion, while its total market value fell about 3%. That means each XRP represents a smaller share of a broadly similar pool of value. Tesseract’s Oliver Carding said the token’s price would be roughly 39% lower at the same circulating market value because more XRP is now in circulation.
Demand indicators have also weakened. XRP spot volume fell 53.5%, perpetual futures volume dropped 44% and active addresses declined 10.7%. XRP funds have attracted $1.80 billion since launching nearly a year ago, far behind the billions drawn by Bitcoin and Ether funds.
Market impact
Ripple’s focus on payments, RLUSD and trade finance has left XRP less exposed to sectors such as DeFi, AI and memecoins that have drawn capital and integrations. Regulatory uncertainty added pressure: the SEC sued Ripple in 2020, and the case ended in August 2025 after both sides dropped their appeals. A federal judge had ruled that public-exchange XRP sales were not securities offerings, while institutional sales were; Ripple was ordered to pay a $125 million penalty in 2024.
Carding said investors should watch XRP against Bitcoin, monthly net distribution after escrow releases and changes in fund holdings. Persistent underperformance as distributions slow would point to weaker demand. XRP is not alone below its January 2018 levels, but the combination of supply growth and softening activity gives investors specific measures to track.
Frequently asked questions
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How far is XRP below its January 2018 peak?
XRP trades around $1.33, about 62.5% below its January 2018 peak of $3.55. It briefly reached $3.66 in July 2025 before falling back.
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How much did XRP's circulating supply grow?
Circulating supply increased 63%, from 38.7 billion XRP in 2017 to 63.1 billion. The article says each token consequently represents a smaller share of the total value.
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What happened to XRP trading and network activity?
XRP spot volume fell 53.5%, perpetual futures volume dropped 44% and active addresses declined 10.7%.
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How do XRP fund inflows compare with Bitcoin and Ether funds?
XRP funds have attracted $1.80 billion since debuting nearly a year ago. Bitcoin and Ether funds have drawn billions, and Bitcoin ETFs can attract more than $1 billion in a single day.
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What indicators could show whether XRP demand is improving?
Investors can track XRP against Bitcoin, monthly net distribution after escrow releases and changes in fund holdings. Persistent relative weakness as distributions slow would point to weaker demand.
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