In the past three months, the price of XRP has fallen by 30%, and in the past six months, it has fallen by 41%, mainly due to the overall slump in the cryptocurrency market after the flash crash in October. Despite the price drop, the value of stablecoins on the XRP ledger has nearly doubled, increasing from $208 million at the end of October 2025 to $407 million on January 26. Regulatory progress remains positive, as Ripple obtained approval from the Dubai Financial Services Authority (DFSA) in early 2026 to conduct regulated cryptocurrency payment business in Dubai, and expanded its payment scope in Singapore in December 2025.