While Bitcoin and Ethereum have established new all-time highs driven by halving cycles and institutional ETF adoption, XRP remains stagnant. XRP trades near $1.07, far below its 2018 peak of $3.84. This divergence is driven by a near-doubling of XRP's circulating supply to 63 billion tokens and Ripple's commercial preference for its RLUSD stablecoin over XRP for institutional settlements. Meanwhile, a proposed XRP Ledger lending protocol remains stalled, awaiting validator approval.
XRP price stagnation history
- ▪XRP reached its all-time high price of $3.84 on January 4, 2018, and traded at approximately $1.07 on August 5, 2026.
- ▪The SEC lawsuit against Ripple, which claimed XRP was an unregistered security, closed in August 2025.
Bitcoin halving cycle peaks
- ▪Bitcoin reached peak prices of $1,130 on November 30, 2013, $19,700 on December 16, 2017, $69,000 on November 10, 2021, and $126,000 on October 6, 2025.
- ▪Bitcoin price peaks historically occur 12 to 18 months after a halving event, which reduces the reward paid to miners.
Ethereum institutional adoption growth
- ▪Spot Ethereum ETFs launched in July 2024, contributing to corporate treasuries purchasing the asset and driving Ethereum to a record $4,950 on August 24, 2025.
- ▪BNY Mellon partnered with Galaxy Digital to integrate proof-of-stake capabilities into BNY Mellon's Digital Asset Custody system, allowing institutional clients to earn staking rewards.
XRP circulating supply inflation
- ▪Ripple releases up to one billion XRP from escrow every month, subsequently locking most of it back.
- ▪The circulating supply of XRP grew from approximately 34 billion coins during its 2018 peak to about 63 billion coins by August 2026.
Ripple RLUSD stablecoin settlement
- ▪Ripple holds a conditional U.S. national trust bank charter to maintain RLUSD reserves under federal supervision, utilizing BNY Mellon as custodian.
- ▪Ripple's RLUSD stablecoin has surpassed a market capitalization of $1.5 billion since its launch in December 2024.
XRP Ledger lending protocol
- ▪The XRP Ledger's proposed lending protocol would allow holders to lock XRP into vaults to fund fixed-term loans.
- ▪The XRP Ledger lending protocol has been awaiting validator approval since January 2026, securing backing from only about one-fifth of trusted validators.
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