XRP has joined the ranks of traditional commodities like oil and gold, following recent interpretations of statements from U.S. regulators. This classification stems from communications by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), which have been interpreted as deeming Ripple's token a digital commodity. This development marks XRP's entry into a "post-lawsuit era" after its legal victory against the SEC.
The commodity status is seen as a significant regulatory milestone that could open doors for institutional investment. Proponents argue it recognizes XRP as operating infrastructure for settling global transactions, rather than as a financial instrument dependent on third-party efforts. This classification theoretically allows banks and funds to treat XRP with the same rigor as gold and oil, albeit with the key distinction that XRP represents "liquidity in motion." Other assets like Chainlink (LINK) and Algorand (ALGO) have made similar commodity claims recently.
Meanwhile, XRP's price action shows consolidation amidst mixed signals. As of March 25, 2026, XRP traded near $1.42, with a 24-hour trading volume of $2.1 billion and a market capitalization of approximately $87.2 billion. The token remained pinned between support and resistance levels, down almost 7% over the past week despite slight daily gains.
On-chain data reveals accumulation by large holders, with whale wallets adding about 40 million XRP over the past week during the market consolidation phase. However, analysts caution that further downside may be imminent before a trend reversal. Crypto analyst Casi suggested XRP might need to test lower support levels at $1.09 or even $0.87, as it is currently trading within an ABC sub-wave inside a larger Wave 2 corrective structure.
A notable shift occurred in institutional demand, with March 2026 becoming the first net outflow month for XRP spot Exchange-Traded Funds (ETFs) since their launch in late 2025. According to SoSoValue data, these ETFs recorded net outflows of $30.12 million in March, breaking a 35-day streak without outflows. This contrasts sharply with the strong initial inflows of $666 million in November 2025 and $499 million in December 2025, which slowed to $15 million in January 2026 before a minor recovery to $58 million in February.
Amid the price pressure, Ripple continues to advance its core business. The company is progressing with a trade finance pilot in Singapore, collaborating with supply chain finance firm Unloq to test a model on the XRP Ledger through the BLOOM sandbox run by the Monetary Authority of Singapore.
From a technical analysis perspective, some experts posit that XRP is nearing the completion of a Wave 4 pattern within a 3-year Elliott Wave structure. This setup hints at a potential Wave 5 pump that could propel the price to a new all-time high around the $8.5 range, although a short retracement below $1 is expected first.
