According to Invezz, XRP’s price has retreated in recent months and remains entrenched in a technical bear market as investor demand wanes. The Ripple token was around $1.3115 on Friday, off more than 60% from its all-time high near $3.60, underscoring a persistent bid-ask gap between news of company progress and market appetite.
What drove the move
Ripple Labs has pursued a broader push to integrate fiat and crypto assets through a unified treasury system, anchored by Ripple USD (RLUSD). The new platform connects with more than 13,000 global banks and ties on-chain assets into corporate treasuries as part of Ripple’s G-Treasury strategy. The initiative followed Ripple’s 2025 acquisition of G-Treasury for about $1.2 billion, which was subsequently rebranded as Ripple Prime. Early adopters reportedly include Rubix, Volvo Cars, Goodyear, and Canadian Tire, illustrating the plan to embed Ripple’s technology in large corporate treasuries.
In a separate development, Ripple formed a partnership with Convera to offer crypto-enabled payment and treasury solutions for businesses. The collaboration aims to speed and stabilize cross-border payments by combining Convera’s global payment infrastructure with stablecoin-powered settlements. Aaron Slettehaugh, a senior executive at Ripple, said, “By partnering with Convera, we’re combining a trusted global payment infrastructure with stablecoin-powered settlement to give businesses more control over how and when they move value across borders.”
Market reaction
Despite these developments, demand for XRP has cooled. Data on spot XRP ETFs show outflows in March topping $30 million, while the funds have accumulated a substantial overall position, with cumulative net inflows near $1.21 billion and total assets around $916 million. In the spot market, daily volume has contracted to about $1.9 billion, well below prior periods when daily turnover occasionally exceeded $10 billion.
Analytic indicators point to a broader softness in the XRP complex. Futures open interest has plunged to about $2.4 billion from a high above $11 billion last year, with liquidations that surged to more than $20 billion on October 10 as liquidity tightened. The retreat in derivatives and spot liquidity aligns with a more cautious stance toward altcoins amid shifting risk sentiment.
Technical picture and near-term outlook
On the chart, XRP has fallen from a peak near $3.60 last July to roughly $1.31 today. A death cross formed on March 2 as the 50-day and 200-day moving averages crossed, reinforcing the downtrend. The price has since appeared to settle within a bearish flag pattern, remaining below the Supertrend indicator and the Ichimoku cloud. Taken together, the setup points to continued downside pressure, with a common near-term target around $1 — about 23% below current levels.
Bigger picture
The bear market for XRP sits at the intersection of company-specific catalysts and broader crypto-market dynamics. Ripple’s treasury-and-payments push signals strategic use cases for the token, but market depth, risk appetite, and regulatory considerations continue to weigh on price. The combination of shrinking spot and derivatives liquidity, coupled with persistent demand challenges for XRP ETFs, suggests that outsized price rallies will remain unlikely without a material shift in macro or regulatory environment.
What to watch next
Investors will be watching how Ripple’s RLUSD integration and the Convera partnership evolve in real-world treasury operations and cross-border settlements. Regulatory developments affecting stablecoins and crypto-treasury products, along with broader crypto market liquidity, could influence XRP’s trajectory. Next updates to Ripple Prime’s client roster and any new bank connections would be material for assessing whether the current bear market can sustain or ease in the coming quarters.
