XRP price has fallen about 45% from its peak in July 2025. On-chain data shows a decrease in the number of whale wallets, indicating weakened short-term confidence. However, institutional demand remains strong, with the spot XRP ETF listed in the U.S. recording inflows for 25 consecutive trading days since mid-November, accumulating assets of approximately $1.07 billion. Japanese analyst Angorou believes that a clear policy that U.S. regulators may implement in 2026 (such as classifying XRP as a commodity and regulating it by the U.S. Commodity Futures Trading Commission (CFTC)) could be a key catalyst. He predicts that if this progress coincides with a general uptrend in Bitcoin, it may drive XRP towards a target price of 1000 yen (approximately $6.41).