Why XRP Still Sits Far Below Its 2018 Record While Bitcoin and BNB Soared

XRP is changing hands near $1.33, roughly 62% under the $3.54 top it set in early January 2018. Anyone who bought at that high remains in the red almost nine years later. The token did poke above the old record in July 2025, touching $3.66, before reversing sharply. Meanwhile Bitcoin stands about 310% above its 2017 peak.

XRP ETF Demand and Trading Activity Decline

XRP funds have drawn only $1.80 billion since launching nearly a year ago, while Bitcoin products can take in over $1 billion in one day. Nansen data shows spot volume down 53.5%, perpetual futures volume down 44% and active addresses down 10.7%. Wincent’s Paul Howard notes Ripple has prioritized payments, RLUSD and trade finance over DeFi, AI and memecoins.

SEC Case and What Analysts Watch Next

The SEC sued Ripple in December 2020, and the case ended in August 2025 after both sides dropped appeals. Carding says the long uncertainty helps explain XRP missing its old high in 2021. He suggests tracking XRP against Bitcoin, plus Ripple’s net monthly distribution and fund holdings, to judge whether demand is weakening.