Key Highlights
- XRP currently changes hands at $1.13, representing a 69% decline from its January 2026 peak of $3.65
- Major holders possessing 100K–100M XRP accumulated 600 million tokens (approximately $678M) during a five-week period
- Market odds for CLARITY Act approval range between 39–43%, following Senate Republicans’ release of revised legislation on July 22
- XRP exchange-traded funds recorded no activity on July 22, while year-to-date 2026 inflows exceed $200 million
- Technical analysis reveals a bull flag formation on the 4-hour timeframe, suggesting potential upside to $1.24 upon breaking $1.16
As of July 23, 2026, XRP maintains a price level of $1.13. This represents a substantial 69% retreat from the token’s record high of $3.65 achieved in January of this year.
While the token has experienced significant depreciation, major holders continue expanding their positions. According to Santiment analytics, addresses controlling between 100,000 and 100 million XRP tokens purchased an additional 600 million coins throughout the five-week span ending July 22. At prevailing market rates, this acquisition represents approximately $678 million — reflecting a 2.8% expansion of their collective holdings.
Daily trading activity registers at $980 million based on CoinMarketCap data. Futures open interest for XRP has contracted to $2.50 billion, declining from $2.96 billion recorded on June 1, per Coinglass figures. Derivatives trading volume has similarly diminished from February 2026’s $15 billion to the current $1.91 billion.
The XRP Ledger achieved a milestone of 1 million agentic transactions this month. Additionally, the XRPL Lending Protocol went live, introducing institutional-grade credit infrastructure to the ecosystem.
Legislative Developments Drive Sentiment
The most significant near-term catalyst for XRP remains the CLARITY Act. Brad Garlinghouse, CEO of Ripple, has made public appeals to Congressional members for passage before the August legislative break. On July 22, Senate Republicans unveiled revised bill language incorporating an ethics clause that prohibits presidential issuance of digital assets.
This ethics provision has encountered Democratic resistance. Debate continues among senators regarding whether state attorneys general should bear enforcement responsibility for the ethics component. Polymarket prediction markets currently price passage probability at 39% to 43%.
Activity in XRP ETF products ceased on July 22, presumably tied to legislative uncertainty. Nevertheless, cumulative 2026 net inflows surpass $200 million despite ongoing price weakness.
Critical Price Zones
Technical analysis of the 4-hour chart shows XRP developing a bull flag configuration. The pattern measures 7.25% in height, projecting a potential target of $1.24 assuming price breaks and holds above the $1.16 resistance barrier.
The Relative Strength Index registers 55, reflecting modest bullish momentum. XRP is currently trading above key moving averages, including the 50-day EMA positioned at $1.11 and the 200-day EMA at $1.12.
Should price action fall beneath $1.11, bearish pressure could intensify toward the July 20 trough of $1.08.
Standard Chartered analysts continue projecting an $8 price objective for XRP during 2026, with an extended forecast of $28 by 2030. BlackRock’s CEO Larry Fink recently commented that market liquidations eliminated excessive leverage positioning, stating he now holds a “very bullish” outlook on price recovery prospects.
Despite persistent price erosion, XRP ETF products have attracted more than $200 million in net capital inflows throughout 2026.
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