The chief executive of Canary Capital said XRP should no longer be judged as a speculative trade, arguing that its value needs to be viewed in the context of global financial infrastructure rather than short-term price targets.
Steven McClurg, who leads the U.S.-based asset manager, said institutional investors are focused on whether XRP can support trillions of dollars in real-world asset settlements, not whether the token trades at single-digit prices.
From speculation to infrastructure
McClurg said the market narrative around XRP has shifted as regulatory uncertainty has eased and institutions prepare for large-scale tokenization of assets such as bonds, real estate and private credit.
He described XRP as financial plumbing designed to move value efficiently and at scale, rather than a token driven by hype cycles. According to him, the focus is now on transaction capacity, reliability and liquidity depth.
Why price matters less to big money
McClurg said price levels that appear significant to retail investors look very different to institutions managing billions of dollars.
In his view, prices such as $5 or $10 per token are relatively small when measured against the trillions of dollars required to settle global real-world assets. For large allocators, the key issue is whether the network can handle constant, high-volume flows without disruption.
Wall Street familiarity
McClurg said XRP is already understood by major financial institutions and global capital markets because it is built for enterprise-grade settlement. He added that discussions with large firms are now centered on how quickly they can upgrade systems to operate at scale, rather than whether XRP fits their needs.
“XRP is an asset that most of Wall Street and the global capital markets understand. It is the infrastructure for the financial system built specifically for enterprise-grade settlement,” he said.
Limits and competition
He acknowledged that the XRP Ledger prioritizes efficiency and stability over experimental features. McClurg said this could be a disadvantage if markets prefer more flexible platforms, but said that institutions often value reliability over experimentation.
Looking ahead
McClurg said the gap between traditional finance and crypto is narrowing rapidly. He expects digital assets to become standard financial infrastructure, with XRP positioned as a settlement layer rather than a speculative instrument.
“By 2026, the distinction between crypto and finance will vanish. XRP will simply be the standard protocol for value, much like TCP/IP is for information,” he said.
According to him, the long-term discussion around XRP is less about dramatic price targets and more about its role in moving value across the global financial system.
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