XRP Tests $1.07 Floor as Developers Strip 'Ripple' from Core Software and Target Wall Street Assets

XRP drops to $1.07, erasing two-thirds of its value, while the XRP Ledger undergoes a critical rebranding and tokenization overhaul; the Clarity Act vote could reshape its future.

The XRP token has tumbled to a 52-week low of $1.07, erasing more than two-thirds of its value from the July 2025 peak of $3.65 and leaving traders nursing a 38% year-to-date loss. Yet even as the market pushes the cryptocurrency lower, the underlying ledger is quietly undergoing one of its most consequential infrastructure overhauls in years — a transformation that goes well beyond the software.

On June 4, XRP Ledger Operations announced that version 3.2.0 is heading to the mainnet and with it comes a symbolic yet operationally significant change: the core server software, long known as rippled, will be rebranded to xrpld. The name shift is no mere cosmetic touch. Validators, node operators, and infrastructure providers must upgrade their systems to remain in consensus, and a migration guide is being prepared. The update follows the activation of the 3.1.3 maintenance cycle on May 27, which delivered fixes for NFTs, Permissioned Domains, Vaults, and the native lending protocol at ledger index 104,507,137.

The architectural ambition extends further. Ripple CTO David Schwartz has outlined a vision to evolve the XRP Ledger from a pure payment rail into an institutional-grade tokenization platform. Planned integrations include tokenized repos, money market funds, corporate loans, and publicly traded equities — all living directly on the ledger. The network already hosts roughly $3.5 billion in tokenized assets as of 2026, and the RLUSD stablecoin is being connected to Wormhole's NTT framework, allowing seamless asset movement between the XRP Ledger and Ethereum's DeFi ecosystem without the need for wrapped tokens.

Meanwhile, the spot market tells a different story. XRP was trading near $1.17 late this week after briefly touching its low on Friday. The relative strength index stands at 23, deep in oversold territory. Compounding the pressure, whale activity spiked: roughly 50 million XRP were moved or sold from large addresses within 24 hours, pushing daily trading volume up 22% to $3.66 billion. The broader crypto sell-off added to the headwinds, with Bitcoin slipping under $60,000.

For mid-term believers, the most potent catalyst sits not in the code but in Washington. The Clarity Act, pending a vote in the US Senate, would formally classify XRP as a digital commodity and shift oversight to the Commodity Futures Trading Commission. Many market participants view the legislation as the final step to resolving the regulatory cloud that has dogged the token since 2020. How the Senate votes will likely move the price more than any software update — but for now, the infrastructure upgrades continue while the price searches for a floor.