Ripple has had one of its strongest stretches ever in 2026. The SEC classified XRP (CRYPTO: XRP) as a digital commodity, Ripple launched full institutional services in Brazil, a $1 billion XRP treasury company just filed for Nasdaq, and XRP ETFs have pulled in $1.44 billion since November.

Despite all of that, the XRP price has done nothing but fall. XRP opened 2026 with a surge to $2.40 and has dropped by 40% in under three months while Ripple stacked one win after another. So what’s actually holding the XRP price down when the fundamentals keep improving?

What’s Dragging the XRP Price Down With the Rest of Crypto?

The macro environment in 2026 has been…