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XRP remains around $1.33, or 62.5% below its January 2018 peak of $3.55, as rising circulating supply and weak investment demand have weighed on the token, CoinDesk reported.
Nansen chief analyst Nikolai Sondergaard said XRP’s circulating supply rose 63% to 63.1 billion from 38.7 billion in 2017, while its market capitalization slipped only about 3%, leaving the per-token price lower as supply increased. On the demand side, Paul Howard, senior director at market-making firm Wincent, said Ripple has focused on payment infrastructure and stablecoins rather than more popular sectors such as DeFi, and ETF inflows have also lagged those for BTC and ETH. Oliver Cading, head of marketing at digital asset manager Tesseract Group, said Ripple’s long-running legal battle with the U.S. SEC was also one reason XRP failed to reclaim its previous high during the 2021 bull market, adding that if underperformance versus BTC persists even as supply growth slows, it could signal weakening demand.