XRP dipping near $1.60 looks ugly at first glance — especially with price hitting a 9-month low.
But here’s the disconnect.
On-chain fundamentals didn’t collapse.
RWA TVL actually climbed 11% to a record ~$235M.
So why the drop?
Because right now, $XRP isn’t trading its own story.
It’s trading Bitcoin’s volatility.
During high-volatility phases, correlation tightens. Alts move less on fundamentals and more on macro pressure and liquidity flows. Until broader market conditions stabilize, structure stays heavy — even for assets doing the right things under the hood.
This is the part many miss.
Fundamentals don’t disappear in volatility.
They just get muted.
Once volatility cools and correlation loosens, that’s when fundamentals start to matter again. Not at the lows — but after structure begins to rebuild.
For now, this is a patience phase.
Price is reacting to the market.
Value is waiting for conditions to change.
The question isn’t whether fundamentals matter.
It’s when the market is ready to listen.
