From Rebrand to Revenue Target: XRP Stays Mired in a Bearish Rut Despite a Flurry of Institutional Tailwinds

XRP price lags near $1.14, 21% below last month, as institutional inflows hit $10.68M for fifth week, XRPL version 3.2.0 rebrands to xrpld, and Ripple targets $1B revenue by 2026.

XRP’s price action has yet to reflect the torrent of positive headlines swirling around its ecosystem. The token languished near $1.14 on Friday, roughly 21% below where it stood a month ago and barely above the $1.05 52-week low struck in early June. The 200-day moving average sits at $1.58, leaving the current price more than 24% beneath that key trend line, while the relative strength index at 35.8 signals an oversold condition.

Yet institutional investors have been voting with their wallets. XRP-linked investment products attracted net inflows of $10.68 million in the week through June 12—the fifth straight week of positive flows. That streak contrasts sharply with the outflows seen from Bitcoin and Ethereum ETFs over the same period, and cumulative net inflows into spot XRP ETFs have now reached $1.44 billion. The divergence between institutional conviction and retail sentiment is stark: social-media chatter around XRP has slumped to an eight-month low.

A major infrastructure overhaul that kicks in this weekend has done little to jolt the spot market. On June 15, version 3.2.0 of the XRP Ledger is scheduled for activation on mainnet. The headline change is a rebranding of the core server software from rippled to xrpld—a move designed to distance the open-source network from Ripple the company. The update also cuts memory consumption by up to 40%, offering node operators and exchanges a clear efficiency gain as transaction volumes climb. The XRP Ledger Foundation has already adopted xrpld in its GitHub repository, formalising the separation.

That infrastructure upgrade arrives as Ripple’s own ambitions scale rapidly. CEO Brad Garlinghouse has set a target of reaching an annualised revenue run rate of $1 billion by the end of 2026—a goal that explicitly excludes any valuation gains from XRP held on the company’s balance sheet. The clearest growth driver is last year’s $1.25 billion acquisition of Hidden Road, a prime brokerage that processes roughly $3 trillion in volume annually. The deal gives Ripple a ready-made platform for institutional credit and clearing services.

Another pillar is Ripple’s dollar-pegged stablecoin, RLUSD, which now commands $1.7 billion in assets under management. Of that, $763 million circulates directly on the XRP Ledger, adding to the network’s settlement activity. The stablecoin boom has been a boon for the ledger: total stablecoin volume on XRPL has nearly doubled and is approaching the $1 billion mark.

The XRP Ledger has also carved out a niche in real-world asset tokenisation. With roughly $4 billion in on-chain assets, it ranks fourth among blockchain protocols for tokenised real-world assets, trailing only Canton, Provenance and Ethereum but ahead of all other networks. That position, combined with the lower memory footprint of version 3.2.0, is meant to accommodate the growing load from institutional payment flows and tokenised instruments.

Technically, XRP remains trapped in a narrow band. Support sits at $1.10, while resistance hovers around the $1.12–$1.13 area. Until the token breaks out of that range, the chart points to neutral-to-weak conditions. The infrastructure update could generate short-term attention if activation is confirmed, but it is unlikely to act as a structural price catalyst.

The wild card that might finally shift the dial is the pending CLARITY Act, which could eliminate much of the regulatory fog that has hung over the token. For now, the gap between institutional accumulation and retail apathy has rarely been wider—and the price has yet to reward either camp.