A well-known crypto commentator who publishes videos on CaptainAltcoin’s YouTube channel has created debate inside the XRP community after explaining why selling his entire XRP position earlier this year was the right decision, at least so far.
In a recent breakdown shared with his audience, the analyst said the months following his exit have only reinforced the concerns that led him to step away in the first place. Despite a steady stream of positive headlines around Ripple, XRP’s price and on-chain activity have failed to respond in a meaningful way.
“Looking at everything that’s happened since, I actually feel better about that decision,” he said, pointing to XRP’s inability to hold key price levels even during periods of strong news flow.
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XRP Price Action Tells a Different Story
XRP peaked in July 2025 following Ripple’s courtroom victory, rallying to around $3.60. Since then, the trend has been hard to ignore. The token has steadily bled lower and now trades near $1.90, down almost 50% from its highs.
According to the analyst, this isn’t a normal cooling-off phase. He describes it as extended, low-energy price action with no real momentum behind it. Even announcements that typically move markets (ETF approvals, licensing wins, and high-profile partnerships) failed to trigger sustained upside.
“When good news stops working, that’s usually the market telling you something,” he noted.
ETF Approvals Didn’t Fix the Supply Problem
One of the most important developments this year was the approval of multiple spot XRP ETFs. Major players like Grayscale, Bitwise, and Franklin Templeton entered the space, with combined inflows crossing $1 billion in a short period.
On paper, that should have been a breakout moment. Instead, XRP barely reacted.
The analyst argues that ETF inflows were offset by heavy selling from long-term holders. Large wallets that accumulated XRP years ago used the liquidity event to exit positions. One wallet alone reportedly sold more than $700 million worth of XRP during the ETF launch window.
The result was simple: new demand met old supply, and price went nowhere.
“The ETFs proved there’s institutional interest,” he said. “But they also showed how much overhead supply is still waiting to sell.”
Ripple Is Building, But XRP Isn’t the Focus
To be clear, the analyst is not dismissive of Ripple as a company. He acknowledges real progress on the business side, including regulatory approvals in Singapore and the UAE, the launch of the RLUSD stablecoin, and pilot programs with firms like Mastercard and Gemini.
The problem, in his view, is the growing disconnect between Ripple’s success and XRP’s role in that ecosystem.
Most partners are using RippleNet or stablecoin infrastructure, not XRP itself. Even high-profile pilots on the XRP Ledger often rely on stablecoins rather than the native token.
“Ripple is building real infrastructure,” he explained. “But XRP isn’t at the center of that activity.”
Read also: XRP Price Drop Raises Questions as Large Exchange Flows Hit Thin Liquidity
Network Usage Remains Flat
On-chain data supports that concern. Daily active addresses on the XRP Ledger remain around 25,000, a figure that has barely changed for months. By comparison, networks like Solana process millions of active accounts and massive stablecoin volumes daily.
The difference is stark. In one recent month, Solana handled close to $2 trillion in stablecoin transactions. XRP Ledger activity during the same period was closer to $50–60 billion.
For a network positioned as a global payments bridge, that gap raises uncomfortable questions.
Read also: Can XRP Price Reach $100? GPT Predicts What Could Happen Next
Technical Upgrades Without Adoption
Ripple has continued to ship updates, including an EVM-compatible sidechain, zero-knowledge proof support, and new tokenization and compliance tools. But according to the analyst, technology alone is not enough.
Developer activity, DeFi usage, and total value locked on XRPL remain limited. Without real adoption, technical potential does not translate into sustained demand for the token.
“Announcements don’t drive value,” he said. “Usage does.”
Why He’s Still Not Buying Back In
While social sentiment around XRP has turned sharply negative (with data providers flagging a “fear zone” among retail holders) the analyst remains cautious. He acknowledges that extreme pessimism can sometimes lead to short-term bounces, but that is not what he’s looking for.
His stance is clear. Until XRP shows consistent growth in usage, volume, and real-world settlement activity, the risk-reward doesn’t justify re-entry.
“I’d love to be proven wrong,” he said. “But nothing I’ve seen lately changes the thesis.”
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