XRP has recently struggled to surpass the psychologically important $2 threshold, trading around $1.90 and showing a decline of approximately 4% over the past seven days. This price movement is accompanied by a decrease in open interest, which has dropped to $3.26 billion, marking its lowest level since December 31, 2025.
In comparison to broader cryptocurrency benchmarks, Bitcoin stands at roughly $87,917 with a 5.5% weekly decrease, while Ethereum's price has fallen nearly 9.8% to $2,904. XRP's market capitalization is positioned at approximately $116.05 billion.
Technical analysts have noted the significance of current price levels. Crypto Tony points out that XRP is situated at a critical juncture; reclaiming the $1.89 price mark could indicate renewed momentum and potentially open a pathway for a sustained upward movement toward higher price targets.
Further insight from Cryptoinsightuk highlights that XRP has revisited a prior breakdown point, which on the surface suggests bearishness. Yet, the price continues to close within a substantial support band, preserving the overall technical structure. According to this analysis, while some near-term liquidity below the current price might be absorbed, the broader bullish framework remains intact. Medium to long-term targets are suggested near $4.20, with an extended cycle target ranging from $8 to $12.
From an Elliott Wave perspective, analyst XForceGlobal identifies an approaching key inflection zone for XRP. Strong support is expected in the $1.40 to $1.50 range, where maintaining that level could facilitate a larger rally, potentially pushing prices above $5. This would signal a transition in the price pattern from an impulsive move to a flat consolidation phase, which can precede substantial upward momentum.
Additional market data from Coinglass also reflects the contraction in market activity with open interest showing a notable decline. On the institutional front, U.S. XRP spot exchange-traded funds (ETFs) have recorded daily net inflows amounting to $3.43 million as of January 23, indicating some degree of continuing investor interest despite the price pullback.
Corporate developments highlight strategic progress for Ripple, the primary entity behind XRP. Reece Merrick, Ripple's Managing Director for the Middle East and Africa, announced a key partnership with Jeel, the innovation division of Riyad Bank. The collaboration aims to support Saudi Arabia's Vision 2030 initiative by exploring avenues such as cross-border payment solutions, digital asset custody, and tokenization projects.
On the regulatory front, Japan is preparing to formally recognize XRP as a regulated financial asset under its Financial Instruments and Exchange Act, expected by the second quarter of the current year. This reclassification will treat XRP as an investment product, enhancing regulatory clarity and investor protection. Moreover, it is anticipated to facilitate improved institutional access and underline the XRP Ledger's role as a foundational technology for Japan’s envisioned tokenized economy.
Overall, XRP's pricing dynamics show a complex interplay of technical pressures, evolving market interest, and significant regulatory and strategic developments. The immediate future remains uncertain, though certain technical patterns and institutional activity provide framework for potential scenarios.