Foreign media, citing analysts, say that whether XRP can rise to $100 or even higher does not depend on short-term market sentiment, but rather on the scale of tokenized assets actually accumulated on XRP Ledger ( XRPL ). According to the data cited in the article, although this indicator is growing rapidly, there is still a significant gap from supporting higher price expectations.

On-chain transactions are concentrated in a few accounts.

The report mentioned that the number of active accounts for XRPL decreased in the second quarter of this year, but the trading volume per account is approximately three times that of before. This indicates that transaction activity on the chain is becoming more concentrated among a smaller number of accounts, however, the scale of funds held by these accounts has significantly increased.

Meanwhile, the scale of tokenized assets on XRPL has risen to approximately $3.72 billion, an increase of about 30 times compared to the same period last year. Another source cited a figure of $4.26 billion, but regardless of which set of figures is used, the overall scale remains in the billions of dollars range.

Analysts say it's unlikely to see three-digit figures in the short term.

The report quotes an encryption analyst, Zach Rector, who says that this is precisely the main reason why XRP currently finds it difficult to reach prices of $100 or $1000. According to his judgment, in order to sustain such price levels, the value of the tokenized assets on XRPL would need to expand from the current several billion dollars to tens of billions of dollars, even hundreds of billions of dollars, or possibly even more.

The article argues that there is still a gap between the market's high expectations for XRP and the actual progress of institutions in adopting the infrastructure. According to this view, the conditions for a three-digit XRP price to emerge within 2026 are not yet met. The reason is not due to mere market fluctuations, but rather because the underlying institutionalization process is still in an early stage.

Ripple Cooperation is regarded as supplementary construction.

The report also mentioned that Settlement CEO Adam Popat discussed the company's recent collaboration with Ripple. According to him, this collaboration integrates Ripple's hosting platform with Settlement's digital asset lifecycle management system, allowing large institutions to complete asset issuance, management, and hosting within a single interface.

The article states that the goal of this arrangement is to reduce the operational complexity for institutions conducting tokenization business on XRPL and to meet compliance process requirements. Relevant viewpoints suggest that such infrastructure development helps to encourage institutions to enter the market, but it will still take time before a sufficient asset volume is accumulated to re-evaluate XRP.

Overall, the core conclusion of this review article is that the tokenization narrative of XRPL has already begun, but at this stage, the scale is still in its early stages. If the on-chain tokenized assets cannot continue to grow, the market's expectation for XRP to rise to $100 in the short term will precede any fundamental progress.