XRP FUD Hits 2-Year High as Ledger Activity Shows Growth

Sentiment around XRP has been confusing lately. Social data shows a rise in bearish commentary, with market sentiment indicators pointing to one of the weakest phases in the past two years. The drop comes after months of price decline. But it does not fully reflect what is happening on-chain

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Extreme Bearish Sentiment Meets Steady Activity on the XRP Ledger

Recent data from Santiment puts the current mood into perspective. The firm says XRP’s retail sentiment has dropped to its third-worst level in two years. The ratio of bullish to bearish comments has slipped into what it calls a “FUD zone.” The shift follows a prolonged decline, with the token down by 60-63% over the past nine months.

Santiment tracks social media discussions across platforms like X and Reddit. Its data suggests that this level of pessimism does not show up very often. The last two instances in February and October 2025 were followed by price rebounds. The firm maintains that extreme bearish sentiment tends to appear near points where selling pressure starts to ease.

At press time, XRP was trading at $1.32 following bleak price movement during the weekend. The asset saw a 0.22% drop over the past 24 hours.

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A Look at XRP Ledger Activity

What stands out is that activity on the XRP Ledger has remained relatively steady. Over the past 30 days, stablecoin transfer volume on the network reached about $1.77 billion, up nearly 92%. Other indicators have moved in the same direction. The total stablecoin market cap has climbed to roughly $432 million, while the number of holders surged to around 56,000.

A large share of that activity is concentrated in RLUSD. This accounts for more than 80% of the stablecoin market on XRPL. At the same time, new entrants like XSGD, EURØP, and USDC have expanded the ecosystem over the past year.

There has also been some movement in tokenized assets. Data shows real-world assets represented on the ledger rising to around $1.53 billion. It witnessed modest growth over the last month.

None of this points to explosive adoption, but it does suggest that usage has not dropped off along with the sentiment. Activity seems to be still there, but it is not reflected in how the asset is currently being talked about.

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