Ripple (XRP) continues to slide after a steep year-to-date drawdown, even as the company pushes deeper into ‘institutional-grade' market infrastructure and the U.S. spot ETF market for XRP expands—developments that many analysts see as potential medium-term catalysts once demand catches up to the plumbing. As of Friday U.S. Eastern Time, XRP was changing hands around $1.34, down more than 40% since the start of 2026 and hovering near the lower end of a multi-month range.