XRP's Network Value to Transaction (NVT) ratio indicates a stable support level at $1.37, reflecting healthy on-chain activity amid growing institutional adoption. The current NVT value of 170.2 is in a neutral-to-low historical range, suggesting that XRP's price is well-supported by actual transaction volume, unlike the speculative spikes seen in 2025. As of mid-April 2026, $1 billion is held in spot XRP ETFs, contributing to high-quality transaction volume that prevents the NVT from reaching overvalued levels. Additionally, exchange reserves have decreased to 2.75 billion XRP, down from 3 billion in Q4 2025, indicating a shift of coins into private custody. This data suggests that XRP's current price range of $1.30–$1.40 is justified by network utility, marking a period of valuation consolidation rather than speculative overextension.