Large XRP holders are accumulating, indicating increased confidence among institutional investors who are strategically accumulating after a significant legal hurdle in the United States has been removed. At the same time, on-chain protocol upgrades are expanding the functionality of the XRP ledger, introducing native lending capabilities, and driving the network towards practical DeFi use cases. This coordinated progress in market behavior, regulatory clarity, and technical utility suggests that XRP is being reevaluated as a functional crypto asset rather than a purely speculative asset.