- XRP has declined over 18% against Bitcoin in less than two weeks despite notable developments.
- The Dubai Land Department’s adoption of the XRP Ledger has not improved XRP’s price performance.
- Its futures launched by CME Group have shown little effect on reversing the token’s recent underperformance.
XRP has dropped sharply against Bitcoin over the past 12 days, losing more than 18% in value. According to the latest figures from Binance, the XRP/BTC pair is now trading at 0.00002120 BTC. The downward trend continued into Monday, with the token falling an additional 1.5% despite some notable developments.
The Dubai Land Department decided to build its smart real estate tokenization work on the XRP Ledger. The project supports Dubai’s wider plan to introduce blockchain technology in various public services. Even after the announcement, it’s price didn’t trade higher.
CME Group Launches XRP Futures, Price Impact Remains Weak
CME Group, one of the leading derivatives exchanges, launched XRP futures on May 18, following earlier futures products for other altcoins like Solana. While the move was expected to boost interest in the token, it continued its downtrend, showing minimal response to the product launch.
Among the top ten cryptocurrencies, it has been the worst performer in the past week. While most other major assets showed gains or stability, it remained in negative territory. Its drop stands out even more as Bitcoin has seen continued inflows driven by strong institutional demand through ETFs.
ETF Uncertainty Weighs on XRP Sentiment
Bloomberg analysts suggest that a spot XRP ETF is unlikely to be approved before late 2025. Although a quicker approval is possible, regulators are expected to proceed cautiously. This delay continues to cast doubt among investors and limits upward momentum.
Amid the price slump, rumors emerged about a potential acquisition involving Ripple and stablecoin issuer Circle. Ripple has since denied any informal talks of a deal, adding to the overall uncertainty surrounding the project. The market appears unconvinced, with sentiment remaining weak.
