XRP Drops Below $1 as Ripple Expands Infrastructure

The cryptocurrency XRP briefly traded below $1 on August 11, 2026, marking its lowest level since 2024. This decline represents a 72% drop from its previous peak of $3.65. The price slump is attributed to the erosion of XRP's utility as a bridge currency following the late 2024 launch of Ripple USD (RLUSD), a U.S. dollar-backed stablecoin. While RLUSD still uses the XRP Ledger for transaction fees, it reduces the volatility risks that previously discouraged banks from using XRP for cross-border settlements.

Despite the token's price decline, network activity has increased. Daily successful payments on the XRP Ledger reached a four-month high of over 2.6 million transactions on August 10, 2026. This surge in activity coincides with Ripple's broader efforts to scale its institutional infrastructure, including the 2025 acquisition of prime broker Hidden Road for $1.25 billion to provide credit, clearing, and prime-brokerage services.

Ripple CEO Brad Garlinghouse expects the company to reach a $1 billion annualized revenue run rate by the end of 2026, excluding the XRP held on the company's balance sheet. However, some analysts warn that the current price trend may signal a prolonged downturn similar to the post-2018 crash, suggesting that XRP's value has historically relied more on speculative investment than functional utility within the Ripple Payments network.