The Crypto Basic

The XRP ecosystem has welcomed about $1 billion in tokenized asset-backed credit so far in 2026, already outpacing the total from the previous year.

This trend comes as the XRP Ledger (XRPL) continues to witness an increase in tokenized asset value this year amid the growing attention that has enveloped the narrative. For instance, BlackRock CEO Larry Fink argued in January that the tokenization of RWA is inevitable.

According to RWA.xyz, a leading provider of tokenized RWA data, the tokenized asset-backed credit market has grown to a total value of $42.78 billion from just $9.35 billion at the beginning of last year, 2025. Essentially, the market has added over $33 billion in less than two years.

XRP Adds $1B in Asset-Backed Credit

Amid the uptrend, the XRP Ledger appears to be making a massive contribution. Notably, the XRP ecosystem currently boasts $1.5 billion worth of tokenized credit. This represents a 3.61% market share when considering total credit, and a 22% share in terms of represented credit value.

Interestingly, at the start of this year, XRP only hosted $552 billion worth of tokenized credit. The latest figure indicates that the network has added about $1 billion in asset-backed credit over the past seven months of this year.

This is an incredible boost from the growth recorded last year. Specifically, the XRPL only saw an increase of over $500 billion worth of credit throughout 2025. The most recent growth shows that the ecosystem has already doubled its 2025 growth this year, with five more months to go.

For the uninitiated, tokenized asset-backed credit represents debt that issuers convert into digital tokens and back with a pool of real financial assets instead of unsecured loans. These assets can include consumer loans, mortgages, and other income-generating financial assets that serve as collateral for the debt.

Overall RWA Growth

Besides tokenized credit, the XRP ecosystem has also continued to record impressive growth in other RWA areas, especially commodities, stablecoins, corporate credit, and U.S. Treasury Debt. 

For instance, tokenized commodities on the XRP Ledger have grown to a whopping $2.5 billion, representing nearly 61% of the total RWA value resident on the network at $4.1 billion. Most of this commodity value comes from the JMWH product from Justoken, worth more than $2.2 billion.

Meanwhile, the growth of the Ripple stablecoin, RLUSD, on the XRPL has contributed to a massive uptick in stablecoin value across the ecosystem. With $877 million worth of RLUSD now residing on the network, the XRPL currently hosts a total of $968 million in overall stablecoin market cap, already close to the $1 billion milestone.

XRP selling pressure is dwindling, suggesting bearish exhaustion, as prices sit at an extreme opportunity buy zone on the daily chart.

XRP has spent nearly a year moving through a deep corrective phase after reaching its cycle high in mid-July 2025. Looking at the chart structure today, recent price action suggests that the downtrend is approaching its final stages.

XRP Selling Pressure Has Faded Significantly

Chart analysis suggests that XRP is no longer behaving like an asset trapped in a strong bearish trend. Instead, it appears to be building a base near historical levels for the next uptrend phase.

One of the notable confirmations of this is how selling pressure has declined through the ongoing corrective phase. Data shows that the most aggressive selling volume appeared immediately after XRP reached its all-time high of $3.66 on July 18, 2025.

The volume spike marked the beginning of the broader correction and reflected heavy distribution from market participants. However, recent market activity tells a very different story. 

As XRP approached its lowest levels in years during the June 26 drop to $1.009, bearish trading volume had fallen dramatically. The peak bearish volume recorded was 421,000 XRP. Days before the June dip, the trading volume had dropped to 105,000 XRP, which is roughly four times lower than what was seen during the initial stages of the downtrend.

Notably, this shift matters because sustained selling pressure usually accompanies strong bear markets. In XRP’s case, the opposite is happening. Prices continued to make new lows while selling momentum declined substantially, signaling gradual exhaustion.

XRP at Extreme Opportunity Buy Zone

Further analysis suggests that XRP completed the steepest part of its correction months ago. Since the July 2025 peak, the coin has traded within a falling wedge, persistently making lower highs and lower lows.

However, since the broader crypto market crash in February, XRP has largely consolidated, reflecting a market that is no longer dominated by aggressive sellers. Price action has remained in a range, suggesting that the earlier distribution is nearing its completion.

At current levels, XRP has entered an extreme opportunity zone from a long-term perspective. Here the risk-to-reward ratio looks very appealing, with long-term holders already taking advantage of this rare chance to buy at a very low price.

It bears mentioning that the longer XRP spends consolidating around the current levels, the more significant the eventual breakout would be once momentum returns.

Possible Recovery Targets

When momentum starts to return, the result could be notable for XRP. One of the possible recovery targets is the level around $3, a 165% increase from the current price of $1.135.

A sustained hold above this level opens the path for a 224% rally to retest the all-time high of $3.66. Notably, these are long-term targets and would require broader market recovery momentum to come to fruition.

Interestingly, XRP is not moving in isolation from the broader crypto market. Comparing its current structure with other major digital assets such as Bitcoin and Ethereum shows similar signs that the bearish phase is nearly complete. This suggests the market is simply gearing up for the next breakout to higher levels.

XRP remains under pressure as its downtrend continues, but new derivatives data suggests that leveraged trading activity is picking up again. 

While bulls continue to wait for a relief rally, the latest figures show that traders are becoming more active in the futures market, and this change could influence XRP’s next move.

In a recent disclosure, CryptoQuant analyst Arab Chain reported that the 30-day Open Interest (OI) Z-Score for XRP futures on Binance has risen to about 1.60. 

The analyst also confirmed that total open interest has climbed to roughly 440.6 million XRP, compared with a 30-day moving average of 418.5 million XRP. 

In addition, XRP’s standard deviation has reached about 13.8 million tokens, and this indicates that participation in the derivatives market has increased over the past month.

More Traders Return as Open Interest Moves Higher

According to Arab Chain, the higher Z-Score means that open interest now sits above its 30-day historical average. This suggests that the XRP futures market is witnessing a quicker return of leveraged trading and stronger participation.

However, the analyst stressed that current activity remains far below what the market recorded during XRP’s 2025 peak. 

At that time, open interest climbed above 1 billion XRP, and XRP also enjoyed a strong price rally. Although trader participation has improved, it still has a long way to go before reaching those earlier levels.

Arab Chain believes that if the price and open interest continue to rise together, it could show growing confidence among traders and support a stronger bullish trend.

On the other hand, the analyst warned that rising open interest without a matching increase in price could indicate that traders are taking on more leveraged speculative positions. 

If this happens, the market could become more vulnerable to large liquidation events, leading to sharper price swings in either direction.

XRP Remains Stuck in a Tight Trading Range

Meanwhile, data from the XRP daily chart shows that the token is still waiting for a clear breakout. At the time of the report, XRP traded near $1.13, with buyers and sellers remaining evenly matched.

XRP trades above the 20-day Exponential Moving Average (EMA20) at $1.11 but remains below the 50-day Exponential Moving Average (EMA50) at $1.1448. The longer-term 200-day Exponential Moving Average (EMA200) stands at $1.43, showing that the trend still faces strong resistance.

Further, the Relative Strength Index (RSI) stands at 55.24, staying above the midpoint but without showing strong momentum. At the same time, the MACD remains almost flat, with the MACD line at 0, the signal line at -0.01, and the histogram at just +0.01.

Notably, XRP now faces two possible paths. A daily close above $1.15 alongside stronger trading volume could open the door to $1.16 and later the $1.25-$1.30 range. However, if XRP falls below $1.11, the next downside target could be $1.06, with $1.00 acting as the final major support.