XRP has plenty of momentum on paper. It remains closely linked to Ripple, the company behind its founders’ development. Still, DL News reports that XRP is trading 62% below its $3.65 record high from July, even after Ripple’s recent streak of business and legal progress.
Macro pressure and “flow quality”
DL News quotes Louis De Backer, a crypto trading analyst at Marex, saying XRP is “basically being held back by the same two forces that have capped most large-cap alts in this regime.” The first force is macro noise, driven, per De Backer’s remarks, by the US conflict with Iran and the ripple effects on global risk.
DL News adds that talks between Washington and Tehran are described as at a standstill, pushing oil prices higher, with energy above $114 per barrel. De Backer frames elevated energy costs and divided Federal Reserve messaging as reasons risk budgets stay tight, which pushes investors toward “BTC first, then ETH.” In De Backer’s view, in that environment XRP tends to trade “like beta,” tracking the larger complex while struggling to pull in fresh demand on its own.
Spot liquidity versus derivatives
The second force, De Backer tells DL News, is positioning versus “spot depth.” When spot liquidity is thin and derivatives flows dominate, XRP moves can be sharp and then fade. He argues that durable trend formation needs consistent spot buying, otherwise price action stays “range-bound and reactive.”
For XRP to break out, DL News says De Backer points to the need to clear and hold a higher level than the current trading range. He cites a range of $1.35 to $1.45, and says a rally requires a breakout that holds “for longer.”
Ripple’s wins, but not universal faith
DL News also lists several Ripple developments, including ending its long-running legal fight with the US SEC, and mentions a proposed strategic digital reserve in connection with President Donald Trump. The article further notes a deal with one of South Korea’s biggest insurance companies, plus acquisitions, and reports that in March Ripple achieved a $50 billion valuation.
Even with that backdrop, DL News includes skepticism from Ric Edelman, founder of Edelman Financial Engines, who told the outlet in March that he was not convinced XRP would regain its former stature “in this marketplace.” The article also references Polymarket positioning, where traders give XRP a 13% chance of hitting $3.60 before the end of the year, and a 61% chance of hitting $1 before January 1.
DL News ends with De Backer’s overall framing that XRP “isn’t broken,” but is constrained by a market that trades macro first and favors the deepest, most liquid exposures.