Ripple's Valuation Soars, But XRP Token Struggles to Keep Up

Ripple's business is expanding rapidly, with revenue tripling and valuation reaching $50 billion in the first quarter of 2026. However, its native token XRP is lagging behind, trading at a relatively low price of $1.37 and down 27% since the start of the year.

The disconnect between Ripple's success and XRP's performance can be attributed to the structure of its partnerships, which often bypass the use of XRP altogether. For example, Convera's integration of crypto-based treasury tools uses a stablecoin sandwich model that excludes XRP.

Institutional investors are still showing interest in XRP-linked products, with net inflows of nearly $84 million in April and daily volumes jumping 63% on May 3. The SEC's reclassification of XRP as trust property has also enabled the launch of regulated funds, including the first leveraged XRP ETF set to debut on May 7.

The supply dynamics of XRP are shifting, with Ripple releasing 1 billion tokens from its escrow accounts in early May and large holders accumulating for the long haul. On the development front, a native credit protocol aimed at institutional borrowers is being voted on by the XRP Ledger's 34 validators.