300 Banks Use RippleNet, But XRP Transaction Volume Is Falling: What Gives?

"XRP's ( ) adoption story looks strong on paper. Ripple works with more than 300 banks, its payment network keeps expanding, and regulatory conditions are clearer than they've been in years. XRP ETFs from Canary Capital , Franklin Templeton , and Grayscale launched in November, giving institutions regulated access that didn't exist before. Yet XRP's transaction volume keeps slipping, even as RippleNet grows. The network's getting bigger, but activity on the ledger isn't matching the headlines."

"XRP's last six months show sharp optimism followed by steady cooling. July opened with a strong push toward $3.57 as traders positioned ahead of expected ETF launches. Volume jumped, positioning turned bullish, and XRP held near $3 through late August. Through September and October, whale selling pushed XRP down to the mid-$2 range. Attempts to reclaim strength faded as liquidity thinned."

"November brought three major XRP ETF launches. Canary Capital debuted November 13 with record $59 million first-day volume and $245 million in assets. Franklin Templeton and Grayscale followed November 24, adding credibility but not immediate demand. Inflows moved quietly through adviser channels, and XRP stayed between $2.00 and $2.40. Strong headlines continue appearing, but on-chain activity hasn't followed. Why RippleNet's 300 Banks Aren't Boosting XRP Volume keeps expanding, but that growth hasn't lifted XRP's activity."

Ripple works with over 300 banks and RippleNet continues to expand, while regulatory clarity has improved. Canary Capital, Franklin Templeton, and Grayscale launched XRP ETFs in November, providing regulated institutional access. XRP transaction volume has declined despite expanding RippleNet and ETF launches. Price rallied in July toward $3.57, then cooled as whale selling pushed XRP to mid-$2s and liquidity thinned. Canary's ETF opened with $59 million first-day volume and $245 million assets; Franklin Templeton and Grayscale added credibility but not immediate demand. Many institutions use RippleNet's messaging and settlement tools without touching XRP, and On-Demand Liquidity often moves XRP only for seconds before conversion.

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