Prominent Ripple attorney Bill Morgan has openly challenged predictions that XRP will eventually become 100x more valuable than it was in 2018. While Morgan acknowledged the expansion of ecosystem metrics, the lawyer questioned the mathematical foundation required to reach such a milestone.
The legal expert noted that the XRP Ledger has seen measurable progress, as evidenced by rising account creation, deeper institutional interest, and new partnerships. He highlighted critical utility enhancements, including the integration of protocol-level automated market makers (AMMs) and native lending amendments.
Despite challenging the aggressive price target, Morgan defended the asset’s historical resilience against industry critics who dismiss its position. Citing CoinGecko data, he noted that XRP is the only cryptocurrency, aside from Bitcoin, to have consistently maintained a top-10 market capitalization spot since 2014.
However, on-chain analytics provide a more sobering outlook regarding current network engagement. According to Glassnode, the 90-day simple moving average of total transaction fees paid on the network cratered from 5.9k XRP in February 2025 to just 0.5k XRP at press time.
This 91.5% collapse indicates a severe contraction in organic transaction demand rather than a minor fee adjustment. The sharp decline reflects a broader retreat in network utility following the asset’s previous speculative peak.
 
This fundamental cooldown aligns with weakness in the spot market, with XRP moving 3.40% over the past 24 hours to $1.13. The decline was exacerbated by concentrated spot selling and a derivatives-driven spike in Binance’s trading volume, resulting in a Z-score of 4.5.
Moreover, the correction represents a beta-driven move that closely tracks Bitcoin’s 4.25% drop amid persistent institutional ETF outflows and macroeconomic uncertainty. Near-term price action remains distinctly bearish, with XRP trading below the $1.16 resistance level.
While defending the $1.13 floor could help stabilize the token, a breakdown below it targets the $1.05 low. Market participants are now monitoring the upcoming XRPL 3.2.0 upgrade on June 15 as a potential near-term catalyst.
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