Cryptocurrency

XRP Is 3% of the Crypto Market. Ripple Has Spent Years Signing Bank Deals to Change That Number. Here Is What Moved It Instead.

Ripple has spent years inking deals with banks and payment giants, yet XRP's slice of the crypto market keeps telling a different story. The forces actually shifting XRP's dominance have almost nothing to do with those partnerships.

By Sam Daodu

Published October 12, 2026, 2:30pm ET · 4 min read

The Crypto Desk desk. Editor: Sam Daodu.

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Ripple gold physical coin. XRP coin on black background — © ViTaMiH / Shutterstock.com

XRP (CRYPTO: XRP) currently holds a 3.14% share of the overall cryptocurrency market, a figure Ripple has worked hard to increase through partnerships with banks and payment companies. Valued at $1.40, XRP has a market capitalization of about $88.5 billion, compared to a total crypto market cap of roughly $2.81 trillion.

Over the past week, XRP has declined 7.7%, though it has gained 2.6% over the past month. It remains 61.6% below its all-time high. In October 2026, XRP’s price fluctuated between $1.32 and $1.56.

Ripple promotes its partnerships by positioning XRP as a bridge asset for international money transfers, with everyday use driving its market position. However, the coin’s market share has fluctuated over the years. So what drives these shifts, and what could change XRP’s market share going forward?

What XRP’s Market Share Measures and Why It Can Mislead

A shiny golden XRP cryptocurrency coin with the Ripple logo is centered, partially reflected on a dark, glossy surface. In the blurred background, financial charts with green, red, and purple lines and candlestick patterns are visible against a dark blue screen, suggesting market data.

Crypto dominance refers to a coin’s market value divided by the total value of all cryptocurrencies. Market value, or market cap, is calculated by multiplying the coin’s price by the number of coins in circulation. Thus, XRP’s market share changes when its price fluctuates or when the overall crypto market shifts.

To provide context, Bitcoin (CRYPTO: BTC) commands 59.49% of the market, while Ethereum (CRYPTO: ETH) holds 11.06%. This leaves XRP at 3.14%, trailing well behind both.

Market trends show XRP’s share dipped to around 1.5% in late 2022, then surged to nearly 4% in early 2025 before slipping again. While these figures are approximate, they illustrate a general trend.

Many investors mistakenly believe a rise in market share equals a rise in price, but the two don’t necessarily go hand in hand. During market downturns, a coin can gain market share simply by declining less than other cryptocurrencies. For instance, if Bitcoin’s price drops more steeply than XRP’s, XRP’s dominance may increase even as its holders face losses.

Three Events That Moved XRP’s Market Share

A silver and gold Ripple (XRP) cryptocurrency coin rests on a light gray computer keyboard. To the right of the coin, a rectangular key is visible, featuring the word 'SELL' in bright red capital letters. The background shows several other light gray keyboard keys.

Three significant events have led to the most notable shifts in XRP’s market share:

The Crypto Rally in November 2024: XRP closed October 2024 at $0.51 and then skyrocketed to $1.94 by the end of November. The overall market rose during this period, but XRP outperformed many coins, gaining market share as buyers became more willing to invest.
Resolution of the SEC Lawsuit in 2025: The Securities and Exchange Commission’s conclusion of its lawsuit against Ripple lifted a significant overhang that had kept many cautious buyers at bay. While the direct impact is difficult to quantify, the conclusion likely encouraged new investment in XRP.
Introduction of Exchange-Traded Funds (ETFs) for XRP: These XRP ETFs, which trade on stock exchanges, provide a new pathway for investors to buy XRP through traditional brokerage accounts, bypassing the need for crypto exchange accounts.

Why Ripple’s Bank Deals Haven’t Moved XRP’s Market Share

A close-up shot of a golden Ripple (XRP) cryptocurrency coin, resting on its edge. The coin's face displays a world map design and the 'ripple' logo with text. The background is dark, illuminated by glowing red lines forming a downward trend chart and large red arrows pointing downwards, indicating a market decline.

Despite genuine growth and numerous announcements of Ripple’s bank partnerships over the years, XRP’s market share hasn’t responded positively. This is because banks can utilize Ripple’s payment technology or its stablecoin, pegged to the U.S. dollar, without needing to hold XRP. Consequently, these partnerships only boost XRP’s market share if they drive demand for the coin itself.

However, the networks established through these partnerships could potentially support future demand that hasn’t yet materialized. The lack of immediate impact through October 2026 doesn’t rule out that possibility in the coming years.

Additionally, XRP’s market share may not reflect XRP-specific demand alone; it could also be influenced by shifts in investor interest from Bitcoin to leading altcoins (any cryptocurrency other than Bitcoin) during market rallies and back again during sell-offs.

What Could Move XRP’s Market Share Next?

The next significant change in XRP’s market share will likely come from increased buying activity, either through XRP funds or as part of a larger altcoin rally. Headlines about bank partnerships probably won’t have much effect. For investors, these funds offer a crucial demand channel, since every dollar that flows into them must buy XRP. XRP’s 23.4% year-to-date drop supports this view, occurring amid partnership announcements without notable market-share gains.

If XRP’s market share increases from 3.14% back toward the 4% mark seen in early 2025 alongside a rising price, it would indicate a genuine return of buyers. Conversely, if the next major partnership is announced and market share remains stagnant at or below 3.14%, it would further illustrate the disconnect between these partnerships and XRP’s market performance.

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Sam Daodu

Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing

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