XRP has broken below $1.50 this week, declining more than 7% as the broader cryptocurrency market faces weakness. The total crypto market value has dropped more than 4%, pushing major assets below key support levels.
Despite the price decline, XRP ETF products are recording net inflows while Bitcoin and Ethereum ETFs experience outflows, according to data from SoSoValue. XRP ETFs achieved $67 million in daily trading volume, with Franklin Templeton's offering narrowing the gap with Bitwise, which previously led by a significant margin.
Institutional developments supporting XRP:
- Evernorth completed a SPAC merger with Armada II, bringing approximately 473 million XRP from its treasury and $300 million in gross cash proceeds into the public markets, providing investors with an alternate exposure avenue to XRP.
- The XRP Ledger released an upgrade introducing delegated key controls for banks, stablecoin issuers, and tokenized funds, allowing businesses to grant permission to accounts for approving customers while keeping primary wallet keys offline.
- The XRPL's agentic economy has recorded 13 million transactions with 166,402 merchants, with agentic payments representing approximately 25% of ledger activity.
These developments suggest a divergence between XRP's near-term price weakness and emerging institutional interest. The combination of Evernorth's public market entry, expanding XRPL functionality, and ETF inflows indicate strategic positioning that could support recovery if broader market sentiment shifts to risk-on conditions.
