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Payment utility can be one factor in XRP’s price, but it does not establish that utility is driving price appreciation. A payment network’s ability to use XRP, evidence that people actually use it for payments, and a lasting need to hold the token are separate questions. The October 2, 2026 report from 24/7 Wall St. also describes a scheduled Nasdaq listing for a company holding XRP; that listing is not, by itself, evidence of new XRP purchases.
What is being reported about Brandt and the Nasdaq listing?
24/7 Wall St. reported on October 2, 2026, that trader Peter Brandt called XRP a “fool coin” in September and that Evernorth’s planned treasury company, associated with 473 million XRP, was scheduled to begin trading on Nasdaq under the ticker XRPN on October 8, 2026, following approval of a merger. The report is a secondary source for those claims: the available evidence does not include Brandt’s original post or a primary Evernorth or Nasdaq document confirming the holding and debut date.
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That distinction matters. The October 8 date should be treated as scheduled, not as a completed listing, and the 473 million XRP figure as reported rather than independently verified here. The same report says Evernorth already possessed the XRP. If so, listing shares in a company with a token treasury could give equity-market investors a way to gain exposure to that treasury without the company buying more XRP. A share listing and a fresh token purchase are different events.
The report reproduces the “fool coin” label but does not establish its full context through Brandt’s original statement. It is best understood as an attributed characterization, not as a measured conclusion about XRP’s payment use or value.
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Does payment utility count for anything in XRP’s price?
It can count as one possible influence, but the available filing does not measure how much it matters or show that it is currently lifting XRP’s price. The SEC-filed Bitwise XRP ETF 2025 Form 10-K, filed March 20, 2026, lists adoption of XRP as a medium of exchange, store of value, or other consumptive asset among possible price factors. It also names market sentiment, trading-platform activity, liquidity, publicly available supply, competing digital assets and payment services, regulation, transaction fees, and settlement speed.
This is a risk disclosure listing potential influences, not evidence that any one factor causes a particular price move. It offers no statistic that isolates payment utility’s contribution to XRP’s price. The filing is from a fund sponsor, not an independent, comprehensive study of payment activity.
| Question | What it establishes | What it does not establish |
|---|---|---|
| Can a payment use case use XRP? | A technical or commercial payment pathway may exist. | That consumers or merchants use it at scale. |
| Is XRP accepted or used for payments? | Actual acceptance and payment activity would show adoption. | That users must hold a large XRP balance for a long time. |
| Do users need to hold XRP? | A sustained inventory requirement could create a reason to hold tokens. | That payment volume translates directly into a particular token price. |
| Is XRP’s price rising? | Market prices reflect trading and investor expectations. | That payment utility, rather than other influences, caused a move. |
Capability, adoption, holding demand and price are not the same thing
Payment capability
A network can support payments without becoming a widely used payment method. Technical capacity describes what the system can do; it does not tell you how many merchants accept the asset or how many customers choose it.
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The Bitwise filing says XRP is selectively accepted by retail and commercial outlets and that consumer use to pay those outlets remains limited. In its risk discussion, the filing states: “XRP is only selectively accepted as a means of payment by retail and commercial outlets, and use of XRP by consumers to pay such retail and commercial outlets remains limited.” This is the fund sponsor’s disclosure, not an independent measurement of payment volumes.
Demand to hold the token
Payment activity could create demand for XRP if users or intermediaries need to hold inventory to make transactions. But transaction throughput alone does not reveal the size or duration of that inventory need. If an intermediary converts into XRP to settle a payment and converts out soon afterward, the flow may require temporary access to tokens without proving that end users or payment firms need to hold a large balance over time.
That is a possible mechanism, not a demonstrated XRP valuation model. The 24/7 Wall St. report makes a similar point using Ripple’s On-Demand Liquidity example, but neither it nor the cited filing establishes a measured relationship between payment volume and XRP’s price.
Market price
Price can respond to expectations, sentiment, liquidity, trading activity, available supply, competition, regulation and other factors as well as adoption. The Bitwise filing warns that speculators may significantly influence XRP’s price. A payment use case can therefore be real and still fail to explain a particular price movement.
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Does the XRPN listing mean new XRP buyers are coming in?
No conclusion about new token demand follows from the reported listing alone. XRPN is described as a Nasdaq ticker for a company associated with an XRP treasury; it is not a listing of XRP itself. Investors buying shares would acquire exposure through the company’s equity, not necessarily buy XRP directly on the spot market.
Whether a treasury company creates incremental demand for XRP depends on what it actually does: whether it acquires additional tokens, how those purchases are financed, and what its treasury policy requires. If the company already holds the reported XRP, a new share-market route could repackage existing exposure rather than add to token demand. The available secondary report does not independently establish the holding or provide the company disclosures needed to verify a new purchase.
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“Fast and cheap” is not enough to compare payment systems or infer token value. A useful comparison asks what users and institutions actually need, and what evidence shows they are using.
- Acceptance and usage: Which merchants or payment providers accept the asset, and is there evidence of meaningful payment use rather than technical availability alone?
- Need to hold the asset: Must participants keep XRP on hand, and for how long, or can they convert into and out of it around settlement?
- Fees and settlement: What are the transaction costs and settlement characteristics in the relevant use case?
- Liquidity and conversion: Can participants reliably convert between XRP and the currencies they need, at the times and scale required?
- Regulatory and operational constraints: What rules, intermediaries, or operational requirements affect access and use?
- Competition: Could another digital asset, payment service or conventional payment route serve the same need?
The Bitwise filing identifies several of these categories as potential risks or price influences, but it does not provide an apples-to-apples study showing how XRP performs against alternatives on them.
What the reported price snapshot can—and cannot—tell you
In its October 2, 2026 report, 24/7 Wall St. put XRP at $1.52 and described it as about 58% below a reported July 2025 peak of $3.65. Those are the report’s dated figures, not independently reproduced market data here. The article also said XRP lagged Bitcoin, Ethereum and Solana over selected 90-day and one-year comparisons, without the underlying date ranges being established in the evidence available for this article.
Even if a market snapshot and its comparison windows are accurate, relative performance does not identify its cause. It cannot show, on its own, whether payment utility helped, hurt or had little effect on XRP’s price.
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