XRP Has Almost Erased Its 2026 Gains After Rising to $2.41

Despite a strong start to the year, XRP has relinquished most of its gains amid market instability and macroeconomic uncertainty.

XRP took off in the first week of the year on the back of renewed momentum from a fresh start and capital shift into the regulated products tracking the asset. However, this buzz has since stalled, and growing skepticism among market participants has weighed on the coin’s trajectory.

Key Points

• Despite a strong start to the year, XRP has relinquished most of its gains.
• XRP started the year bullishly, soaring roughly 31% in six days to reach a high of $2.41.
• At the time of writing, the coin is trading at $1.91, down 20.7% from its January 6 high.
• The early January rally came amid strong inflows from crypto ETPs, suggesting renewed investor traction.
• However, macroeconomic uncertainties have reshaped XRP and the entire crypto ecosystem’s trajectory.
• Standard Chartered expects XRP to reach $8 by the end of the year, suggesting a turnaround from current consolidation.

XRP Cuts Back Earlier 31% Gains

TradingView data shows XRP started the year at $1.84. Notably, this marked a steep decline for an asset that started 2025 brightly and even reached a multi-year high of $3.67 six months back.

However, after ending 2025 bearish, XRP started 2026 on a bullish note, soaring roughly 31% in six days to reach a high of $2.41. This resurgence sparked optimism among enthusiasts, who lauded its outperformance over Bitcoin, Ethereum, and Solana. During this run, XRP reclaimed the third spot in the cryptocurrency standings by market cap (excluding stablecoins), flipping BNB.

However, like most other cryptocurrencies, XRP has given back a chunk of its gains. At the time of writing, the coin is trading at $1.91, down 20.7% from its January 6 high. When it dropped to $1.84 on January 19, the entire yearly gains disappeared before a rebound took its YTD increase to just 3.8%.

Major Events That Shaped Prices

Notably, the rally came amid strong inflows from crypto ETPs, suggesting renewed investor traction. Digital asset investment vehicles attracted over $1 billion in the first few trading days of the year, as retail and institutions seek exposure to the sector.

XPR spot ETFs saw inflows of $78.81 million in the first three trading days, building on their exploits last year. This influx, coupled with a broader market rebound, spurred the run to $2.41 early enough this month.

However, macroeconomic uncertainties have reshaped XRP and the entire crypto ecosystem’s trajectory. The chances of an interest rate cut dimmed as key data showed little progress, and delays to the CLARITY bill started to weigh on investor sentiment. While XRP weathered that uncertainty, Donald Trump played the tariff-hike card again, pushing the token below the psychological $2 price level.

What Comes Next for XRP?

Usually, macroeconomic setbacks of this nature are temporary, and analysts expect a rebound. Still, the four-year crypto cycle narrative would play a crucial role in steadying the market sentiments. If Bitcoin starts a supercycle as industry leaders have predicted, XRP could follow suit.

The market structure bill will also help sentiment. While prominent leaders are split on the potency of the current draft to deliver the regulatory clarity clamored for, many still believe it would have a significant impact on the sector’s adoption.

Additionally, XRP has received several recognitions as a payment alternative to legacy systems. If this narrative gains traction and drives further adoption, XRP could react positively.

For price outlooks, Standard Chartered has suggested that XRP would reach $8 by the end of the year, projecting a turnaround from current consolidation. Remarkably, this remains speculative, and nothing is certain in the crypto market, which is highly volatile.