XRP has fallen 28.8 percent so far in 2026, and there are claims that the market has yet to price in three positive factors, blockchain outlet The Crypto Basic reported on March 31 (local time).

Alexis Sirchia (알렉시스 시르키아), chairman of Yellow, said XRP’s price does not fully reflect the impact of regulatory clarification, upgrades to the XRP Ledger (XRPL) and growth of Ripple stablecoin RLUSD.

In a conversation with Cointelegraph Magazine, Sirchia first cited “regulatory clarification.” In early March, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) released a 68-page interpretive rule setting out how existing securities laws apply to crypto assets. Regulators introduced a function-based classification system and categorized XRP as a “digital commodity,” alongside bitcoin (BTC), ethereum (ETH), solana (SOL) and cardano (ADA). He said the decision could lower barriers that had been blocking large institutions from participating in the market.

The second positive factor is XRPL upgrades. He said six major updates over the past two years included on-chain identity verification, an asset clawback option and a permissioned decentralised exchange (DEX). An automated market maker (AMM) was applied in March 2024, and a multi-purpose token (MPT) was introduced in October 2025. A permissioned domain (XLS-80) was launched in February 2026, and a permissioned DEX (XLS-81) was added last month. A native lending protocol (XLS-66) entered the voting and activation stage through rippled v3.1.0.

The third is the linkage between RLUSD and XRP. RLUSD was launched by Ripple in December 2024 through Standard Custody & Trust, a regulated sector. Sirchia said RLUSD and XRP are not competitors. He said XRP serves as a fast and low-cost settlement layer, while RLUSD serves as a stable unit of value, working together with divided roles. He said RLUSD growth could increase XRPL activity and also lend support to XRP.

The outlet reported RLUSD posted a market capitalisation of about $294 million in April 2025, and its supply topped $600 million in July 2025. RLUSD is now valued at $1.41 billion, the eighth-largest stablecoin globally.