XRP Price Holds at $2.15 as RLUSD Metric Surges 56% Amid Bear Market
In the face of a persistent technical bear market, XRP is demonstrating resilience, trading at $2.15 on Nov. 26. This price point represents a modest recovery from the month's low of $1.8173, even as the token remains approximately 40% below its yearly peak. The current market dynamic for Ripple’s native token is a study in contrasts: while technical charts paint a bearish picture, fundamental metrics related to its ecosystem are flashing green. Most notably, the Ripple USD (RLUSD) stablecoin is experiencing explosive growth, with its 30-day adjusted transaction volume surging by 56% to $3.5 billion, providing a crucial tailwind for the XRP Ledger.
RLUSD Stablecoin Emerges as a Powerhouse in the GENIUS Act Arena
The most compelling bullish catalyst for the XRP ecosystem is the rapid ascent of its native stablecoin, Ripple USD (RLUSD). Data from Artemis reveals a stablecoin in a phase of robust expansion across several key metrics. The total supply of RLUSD in circulation has increased by 28% over the past 30 days, reaching a substantial $1.2 billion. This growth trajectory has firmly positioned RLUSD as the third-largest GENIUS Act-compliant stablecoin in the market, trailing only behind established giants USDC and PayPal’s PYUSD.
Beyond mere supply, usage metrics indicate deepening adoption. The number of individual RLUSD transactions has risen by 17% in the same period to 443,000. However, the most staggering figure is the 56% surge in the adjusted transaction volume, which now stands at $3.5 billion. This metric is a critical indicator of economic activity, signifying that RLUSD is being actively utilized for transfers and settlements rather than sitting idle in wallets.
XRP Ledger Sees Accelerating RLUSD Integration
A deeper dive into the RLUSD distribution reveals a strategic trend with long-term implications for the XRP Ledger (XRPL). While a majority of the RLUSD supply currently resides on the Ethereum network—a common strategy for initial liquidity and interoperability—the version native to the XRPL is witnessing accelerated growth. The supply of RLUSD on the XRP Ledger has climbed to nearly $300 million over the past few months.
This migration and growth within the native ledger are significant. It suggests that developers and users are increasingly leveraging XRPL's features, such as its low transaction costs and high speed, for stablecoin operations. A growing stablecoin ecosystem directly enhances the utility of the underlying ledger, potentially driving demand for XRP for transaction fees and other on-chain activities. This organic growth within its own environment provides a fundamental strength that is somewhat detached from XRP's short-term price volatility.
XRP ETF Inflows Defy Broader Market Sentiment
Parallel to the stablecoin narrative, another powerful force is at work: unwavering institutional interest through Exchange-Traded Funds (ETFs). According to data from SoSoValue, XRP-focused ETFs have consistently attracted capital, without recording a single day of outflows. The cumulative inflows into these funds have now jumped to over $622 million, with total net assets under management standing at $644 million.
This consistent inflow is particularly notable given the token's bearish price action, suggesting that institutional investors may be viewing current price levels as accumulation opportunities based on long-term conviction. When compared to other major crypto assets, the scale of this institutional adoption highlights both its success and its potential for future growth. XRP ETF assets currently account for about 0.50% of XRP's total market capitalization.
This penetration rate is significantly lower than that of its peers. For context, Ethereum ETF assets represent approximately 5.5% of its market cap, while Bitcoin ETF assets account for a substantial 6.54%. This disparity indicates that if institutional adoption of XRP continues to follow a similar trajectory, there is considerable room for further capital inflows into these dedicated funds, which could act as a stabilizing or appreciating force on the price.
Technical Analysis Suggests Near-Term Price Challenges Persist
Despite these strong fundamental tailwinds, a technical analysis of the XRP price chart presents a more cautious near-term outlook. The token's price action remains firmly within a bearish technical structure. A key indicator of this trend is that XRP has consistently traded below its 100-day Exponential Moving Average (EMA), a level often viewed as a benchmark for medium-term momentum.
Furthermore, the price has crashed below the Supertrend indicator, which is designed to identify the prevailing directional trend and has now flipped to signal a downtrend. The most telling pattern on the chart is the formation of a series of lower lows and lower highs. This is a classic characteristic of a bear market, where each rally fails to reach the height of the previous one, and each decline falls to a new low. This pattern explains why recent attempts at a rebound have lost momentum.
Based on this technical structure, analysts note that the path of least resistance appears to be downward. The initial forecast points toward a retest of the key support level at $1.8173, which represents the lowest point reached this month and in October. A move to this level from the current price would constitute a decline of roughly 16%.
Strategic Conclusion: A Clash of Fundamentals and Technicals
The current state of XRP presents a complex picture defined by the tension between strengthening fundamentals and weakening technicals. On one hand, the ecosystem is demonstrating undeniable vitality. The meteoric rise of RLUSD, both in overall volume and its specific growth on the XRP Ledger, lays a foundation for increased utility and network effects that are critical for long-term value. Simultaneously, the steadfast accumulation by XRP ETFs signals that sophisticated market participants see value beyond short-term price fluctuations.
On the other hand, technical analysis cannot be ignored; it clearly depicts an asset struggling to overcome selling pressure and establish a sustained uptrend. The pattern of lower highs and lows suggests that bearish sentiment still dominates daily trading activity.
For professional crypto readers and investors, this environment demands a focus on monitoring specific catalysts. Key metrics to watch include whether RLUSD's growth can maintain its current pace and how quickly its presence on the XRPL expands relative to other networks. Regarding ETFs, any significant acceleration in inflows that begins to close the gap with Ethereum and Bitcoin's adoption rates would be a profoundly bullish signal.
Ultimately, while technicals may dictate the short-term trajectory toward the $1.8173 support level, the robust growth in RLUSD volume and steady ETF inflows provide compelling evidence that XRP's underlying ecosystem health is improving—a factor that may ultimately realign price with fundamentals when broader market sentiment shifts.