Is XRP still a long-term play, or just tied to broader market cycles at this point?

Trying to get a clearer read on XRP from a market perspective.

It’s been around for a long time compared to most projects, and it clearly has strong brand recognition and liquidity. At the same time, it often feels like its price action is still heavily tied to overall crypto cycles rather than any specific adoption milestones.

On the fundamentals side, there’s still the narrative around payments, institutional use, and XRPL development. But I’m curious how much of that is actually being priced in vs just being part of the long-term story.

So for people who follow XRP more closely:

• Do you see XRP as something that could eventually decouple from the broader market based on real-world usage?

• Or is it realistically going to behave like most large-cap crypto assets, where macro sentiment and liquidity drive the majority of price movement?

• What would need to happen for XRP to actually move independently (if at all)?

Not trying to argue for or against it — just interested in how people here are thinking about it from a market structure / fundamentals angle.