XRP price has fallen from its July highs, but on-chain metrics point to continued network expansion, with active wallets approaching 8 million and daily transactions around 3 million. The price decline contrasts with growing real-world asset (RWA) tokenization activity, suggesting a widening gap between market prices and on-chain/use-case growth.
Evernorth CEO Asheesh Birla told DL News that the XRP network is nearing 8 million active wallets and processes roughly 3 million transactions per day, while Evernorth is portrayed as a $1 billion crypto-t treasury holding XRP. Birla also noted that XRP has accumulated more than $1 billion worth of tokenized raw materials over the past three months, amid a push into real assets. He added that geopolitical tensions – including Israel-Iran dynamics – have spurred demand for real assets backing tokenized markets.
Evernorth is stepping up its capital-market activity, filing an SEC Form S-4 to register new securities as part of IPO preparation. Ripple, the company behind XRP’s development, announced a buyback of up to $750 million from investors and employees, valuing the company at about $50 billion. Previously, Ripple raised $500 million at a $40 billion valuation from investors including Citadel Securities and Fortress Investment Group.
Ripple has deployed billions in M&A, notably acquiring Hidden Road for $1 billion to expand into prime brokerage and stablecoin infrastructure. It is also close to acquiring BC Payments, a subsidiary of Banking Circle, to secure an Australian financial services license, with the deal expected to close in April 2026 and expand Ripple’s payments footprint in that region. This is the second acquisition of the year for Ripple following the Sydney-based Solvexia purchase, underscoring a strategy oriented toward M&A.
Despite these corporate developments, XRP’s price has not recovered. After peaking at $3.65 in July, XRP has trended lower. Spot XRP ETFs drew more than $100 million in new inflows shortly after their November launch, with Canary Capital’s XRP ETF drawing $250 million on its debut. However, cumulative inflows reached about $1.3 billion by January and have since stalled, signaling a potential decoupling between on-chain growth signals and price action amid macro risks.
Market overall remains weak for crypto assets, though the XRP network’s growing activity and rising tokenized asset flows provide a constructive, longer-term narrative for ecosystem use. The lack of renewed ETF inflows and broader risk-off sentiment leave a near-term path for XRP uncertain, with price momentum likely to depend on fresh capital deployment in ETFs and institutional flows.
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