XRP fell 3.74% to $1.39 on March 22, leaving it 62% below its July 2025 peak, as open interest collapsed 75% and leveraged traders exited the market.
The decline comes amid broader macro pressure from the US-Iran conflict, rising oil prices and reduced expectations for Federal Reserve rate cuts, weighing on risk assets.
“Tokenisation models vary significantly in structure and in the rights afforded to holders,”
Analysts said, pointing to fragmentation across emerging financial systems.
Some analysts argue that the rise of bank-issued stablecoins is not competition for XRP but instead increases demand for a neutral bridge asset to connect fragmented liquidity pools.
They say each new stablecoin creates isolated systems that require interoperability, a function XRP was designed to address within cross-border payments infrastructure.
Meanwhile, XRP derivatives activity has weakened, with Binance remaining the only exchange showing meaningful open interest and no clear signs of conviction-driven buying returning.
Evernorth Holdings has filed to go public via a SPAC merger holding 473 million XRP, signalling growing institutional backing even as the token’s price and market participation decline.
At the time of reporting, XRP price was $1.39.