Businesses warm up to XRP, but wider adoption remains elusive: Here’s why
XRP is one of the first cryptocurrencies created with broad adoption and partnerships with banks and other institutions in mind. Over 10 years later, it is possible to pay for various goods and services with XRP, but today’s stablecoins pose a tough test for Ripple.
High hopes and tough challenges
In 2018, XRP was the second-biggest cryptocurrency in terms of market cap. At that time, it was traded well above $3. However, the ICO bubble burst, and the XRP price crashed below $0.50.
It spent two years fluctuating at levels below $1.
In the years following the 2018 downfall, Ripple made partnerships with hundreds of institutions, streamlining cheap cross-border transactions for banks and corporations. It developed a native smart contract platform and supported native NFTs.
In 2020, the SEC filed a lawsuit against Ripple Labs, alleging it raised $1.3 billion through the sale of unregistered securities (XRP). The legal battle continued for five years, finishing only in August 2025, when the pro-crypto administration was several months in.
After a long sleep, the XRP price surged again in November 2024, following President Trump’s election victory and pro-crypto administration. The XRP price jumped from $0.5 to $2.5 and higher in a matter of weeks.
This past January, the price broke the $3 level again. XRP was identified as a potential asset for the U.S. government’s strategic cryptocurrency reserve.
$XRP #NFPWatch