There’s No “Gap” Between XRP Price and Real Demand — Ripple SVP Explains the Shift

A perceived disconnect between XRP market price and its real-world demand may not actually exist, according to Markus Infanger, Senior Vice President at Ripple.

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In a recent interview with Japanese media, Infanger countered the idea that XRP’s valuation fails to reflect its growing use in payments and financial infrastructure.

“I don’t necessarily see it as a gap,” Infanger said. He stressed that while XRP continues to attract investment interest, its practical utility is steadily expanding behind the scenes.

Key Points

• Markus Infanger rejects claims of a gap, saying XRP demand and market price are evolving together.
• He highlights XRPL growth, with tokenized assets rising from $100M–$200M to over $2B in a year.
• Infanger says XRP ETFs boost liquidity, strengthening XRP’s role as a fast and efficient settlement asset.
• He explains that RLUSD complements XRP, expanding liquidity and unlocking new financial use cases.

From Speculation to Financial Infrastructure

According to Infanger, the overall crypto narrative is evolving beyond price-driven investment toward real financial infrastructure. Institutions and businesses are using the XRP Ledger (XRPL) for payments, collateral transfers, and tokenized real-world assets.

Specifically, he noted that tokenized assets on XRPL have grown significantly, increasing from around $100–200 million last year to over $2 billion. This expansion confirms strong institutional engagement and suggests that blockchain technology is becoming part of the core financial system.

XRP ETFs and Liquidity Growth

The launch of XRP spot ETFs in the United States has further strengthened XRP’s position, not just as an investment asset, but also as a liquidity layer for payments.

Infanger argued that institutional participation via ETFs enhances liquidity, which in turn improves XRP’s efficiency as a settlement asset. Rather than creating tension between speculation and utility, he sees both forces evolving together.

RLUSD and XRP: Complementary, Not Competitive

Infanger also addressed the rise of stablecoins like RLUSD, Ripple’s U.S. dollar-backed digital asset. Contrary to concerns that stablecoins could replace XRP, he said RLUSD will actually strengthen the ecosystem.

“RLUSD is about increasing options and redundancy, not replacing XRP,” he explained. Meanwhile, Infanger added that XRP continues to function as a bridge asset and gas token within XRPL. The interaction between XRP and RLUSD could boost overall liquidity and unlock new financial use cases.

Japan Expansion and Institutional Focus

Meanwhile, Ripple is expanding RLUSD in Japan through partnerships with SBI Group and its crypto arm, SBI VC Trade. The initiative is progressing from pilot to full-scale deployment, with regulatory coordination underway.

Infanger highlighted Japan’s clear regulatory framework as a major advantage, noting that the country has long supported digital assets within its financial system.

Transitional Phase for Crypto

Addressing the question of price versus demand directly, Infanger sees the situation as a transition rather than a mismatch. Notably, XRP is already used in Ripple’s payment flows and in institutional products for collateral and liquidity management.

According to him, the market is moving toward a phase in which utility-driven assets gradually integrate into the global financial infrastructure. This could reduce the dominance of speculation over time. In that context, what some perceive as a “gap” may simply reflect an industry still evolving.