Market Overview: XRP Outperforms as Bitcoin Retakes $82K
On May 10, XRP broke above the $1.50 mark for the first time in nearly two months amid a rare weekend crypto market rally. During the same period, Bitcoin briefly reclaimed $82,000, according to Bitstamp data. XRP nearly touched $1.51, outperforming most high-cap altcoins, which were mostly flat or posted negative gains. By 4 a.m. EST, XRP had pulled back to $1.45 but still posted a 2% gain in 24 hours, well ahead of the broader crypto market's 0.1% rise. The rally briefly pushed XRP's market capitalization above $92.6 billion, before settling just under $90 billion at the time of writing.
ETF Inflows and Exchange Withdrawals Boost Momentum
Spot XRP exchange-traded funds (ETFs) recorded $34.21 million in net inflows over the past week, according to Sosovalue data. The latest inflows brought the total net asset value of XRP ETFs to $1.12 billion, with a net asset ratio of 1.26%. Additionally, $115 million worth of XRP was withdrawn from exchanges late Sunday, further supporting the rally.
Institutional Collaboration and RWA Growth Strengthen XRPL Narrative
Pro-XRP accounts on social media highlighted the recent near-real-time cross-border redemption of tokenized U.S. Treasuries via the XRP Ledger (XRPL) as a key development. The test transaction, conducted in collaboration with J.P. Morgan's Kinexys, Mastercard, and Ripple, is viewed as an important milestone validating XRPL's utility. In addition, the XRPL has seen a notable increase in real-world assets (RWA) and stablecoin activity. According to a May 10 post on X, tokenized assets on the ledger rose 45% over the past 30 days to approximately $3.03 billion, while stablecoin volumes climbed to $498 million.
Despite the recent price rise, XRP remains nearly $1 below its Jan. 6 peak of $2.40. Coingecko data shows XRP is down more than 21% year-to-date. Since early February, XRP has largely traded between $1.30 and $1.50. However, some analysts point to XRP's funding rates, which have remained negative since February 2026 — a scenario they say mirrors the contrarian setup that preceded the 2025 rally to $3.60.
Notably, Ondo Finance successfully piloted the first near-real-time, cross-border redemption of a tokenized U.S. Treasury fund using the XRP Ledger, with proceeds deposited into a Singapore bank. This further underscores the XRPL's potential as institutional-grade financial infrastructure.