- XRP has pulled back nearly 15% from its yearly high, but key technical support remains intact
- Stablecoin supply on the XRP Ledger has surged past $400 million, signaling growing network usage
- A rebound toward $2.41 and potentially $3.00 remains possible if momentum stabilizes
XRP has hit a rough patch over the past few days. After riding the broader crypto rally higher, the token reversed sharply and posted four straight days of losses as momentum across the market began to fade. By Friday, January 9, XRP had slipped to around $2.09, nearly 15% off its yearly high, shaking out some short-term optimism along the way.
That pullback looks uncomfortable on the surface, but it hasn’t erased the broader setup. Underneath the price action, a few quieter metrics are still moving in XRP’s favor, hinting this dip may be more of a pause than a full trend break.
Stablecoin Growth on XRPL Hits a New Milestone
One of the more interesting developments is happening on the XRP Ledger itself. According to DeFiLlama, the total supply of stablecoins on XRPL has now crossed $406 million, marking a 33% jump in just the past week. For context, that figure sat closer to $93 million during the same period last year, which shows how quickly activity is scaling.
Most of that growth is coming from Ripple USD, which has seen its supply surge roughly 42% over the last 30 days to about $332 million. Other stablecoins like OpenEden Tbill, USD Coin, and EURQ are also contributing, but RLUSD is clearly doing the heavy lifting for now.
Stablecoins continue to play a central role in global payments, and with more than $308 billion in circulation across all chains, their footprint keeps expanding. Ripple USD, launched back in December 2024, has already grown into a $1.4 billion asset overall, with the majority of supply still sitting on Ethereum. That could change over time as Ripple extends RLUSD to additional networks like Base and Optimism.
ETF Flows Suggest Demand Hasn’t Vanished
Beyond on-chain data, XRP is still seeing interest from US-based investors. On Thursday alone, American investors added roughly $8.7 million worth of XRP ETFs, reversing part of the $40 million outflow seen the previous day. Total inflows across XRP ETFs have now climbed to about $1.21 billion, while net assets stand near $1.49 billion.
That kind of activity suggests investors aren’t abandoning the asset, even during pullbacks. Instead, demand appears selective and reactive, stepping in as price cools rather than chasing highs.
XRP Price Structure Still Leans Constructive
From a technical standpoint, the recent drop hasn’t done major damage yet. On the daily chart, XRP has fallen from its January 6 high near $2.415 down to current levels, but it remains above its 50-day exponential moving average. That’s generally a sign the broader trend hasn’t flipped bearish.
XRP is also holding above the Supertrend indicator and continues to trade above the upper boundary of a falling wedge pattern. That structure is often associated with bullish reversals once selling pressure runs its course. If that pattern plays out, XRP could attempt a rebound toward its year-to-date high around $2.41, roughly 15% above current levels.
A clean break above that zone would likely open the door to a larger move. From there, the $3.00 level becomes the obvious psychological target, sitting about 42% higher than where XRP is trading now. Whether price gets there quickly or not will depend on broader market conditions, but structurally, the path isn’t closed.
