The cryptocurrency market has experienced significant fluctuations over the past five years, and XRP is no exception. The token's price has risen and fallen in response to various events, including the passage of regulatory bills. In particular, the CLARITY Act could potentially have a major impact on XRP's value if it passes.
However, there are several factors that suggest XRP's relationship with its stablecoin RLUSD may be more complex than initially thought. Despite RLUSD's growing market cap and increasing use in transactions, XRP's price has not seen significant gains. In fact, the token has lost value over the past year, suggesting that investors may need to reevaluate their expectations for XRP.
One possible explanation for XRP's lack of growth is its limited role in RLUSD's transactions. While RLUSD handles the majority of settlements on the XRP Ledger, XRP's primary function appears to be collecting transaction fees. This raises questions about whether XRP truly has a significant impact on the cryptocurrency market.