An Aster trader holds a 20x XRP short worth about $2.52 million alongside leveraged BTC, ETH, SOL and DOGE shorts, with all trades reportedly in profit.
A large trader on Aster has built leveraged short positions across XRP, Bitcoin, Ethereum, Solana and Dogecoin, with all five trades reportedly sitting in profit.
The XRP position alone carries a notional value of roughly $2.52 million, making it one of the more notable bets visible on the account.
The address, 0xdd6a…c065, showed an account balance of about $3.94 million at the time of the snapshot.
Most of that balance sat in USDT, with 3.81 million USDT worth approximately $3.81 million, alongside 181,317 ASTER valued near $129,593.
The trader is using 20x leverage on the short positions.
XRP Short Reaches $2.52M The XRP trade is the clearest large position shown on the account.
Aster account 0xdd6a…c065 shows a 1.795 million XRP short opened at $1.4384 with 20x leverage and roughly $62,312 in unrealized profit. The account also holds a much larger SOL short and additional BTC, ETH and DOGE short positions. The trader is short 1,795,706 XRP with an entry price of $1.4384. At the time of the screenshot, the position carried a value of approximately $2.52 million.
The trade was showing an unrealized profit of $62,311.50, with the platform displaying an ROE of +49.44%.
The important figure for this XRP short trade is the 1.8 million-token short position near $1.4384. As long as XRP remains below that entry, the trade retains an unrealized gain.
A move back above the entry price would begin eroding that advantage, while a stronger rally would increase pressure on the leveraged position.
One Account Is Betting Against Several Major Assets The same account also holds a 75,000 SOL short, again at 20x leverage.
Its entry price is shown at $117.4716, while the position value stood near $8.65 million. Unrealized profit reached approximately $165,212, with an ROE of +38.22%.
The trader has also opened leveraged shorts in BTC, ETH, and DOGE.
The account is also short 18.633 BTC worth about $1.54 million, 3,596.87 ETH worth $9.24 million, and 47.84 million DOGE worth $4.19 million, all using 20x leverage.
At the time of the snapshot, the BTC short was showing an unrealized profit of $4,600.76 with a +5.96% ROE, while the ETH short carried an unrealized profit of $163,952.59 with a +35.48% ROE.
The DOGE position remained the strongest performer, showing about $233,461.60 in unrealized profit and a +111.55% ROE.
Bitcoin (CRYPTO: BTC) fell below $81,000 Thursday, with $489 million liquidated across crypto markets in a single hour, as three separate catalysts hit at once.
Catalyst One: The Government Moved $1 Billion in BitcoinArkham data showed Thursday that wallets linked to the US government moved 12,267 BTC, worth about $1.01 billion, from a Bitfinex hack seizure wallet to new, unlabeled addresses according to Coindesk.
No exchange deposit showed up in the transaction, a pattern that points to wallet reshuffling rather than a sale.
The move followed heavier exchange-bound activity a day earlier, when roughly 3,200 BTC, worth about $264 million, along with $119 million in USDT landed at Coinbase Prime deposit addresses.
Those funds traced back to wallets tied to the FTX/Alameda and Bitfinex seizures.
Meanwhile, widely-followed prediction market Kalshi Crypto posted on X that its traders forecast Bitcoin crashing to $78,000 this month following the transfer.
Catalyst Two: Trump Is Weighing Pre-Midterm Strikes on IranThe Atlantic reported Wednesday that the White House asked the Pentagon to develop strike options against Iran that could happen before the Nov. 3 midterms.
US Central Command is drawing up the plans, though officials caution that limited strikes wouldn’t restore safe travel through the Strait of Hormuz or lower gas prices before Election Day.
Oil prices have typically risen when the U.S. resumes strikes after a pause, according to the U.S. Energy Information Administration, a dynamic that adds fresh uncertainty to risk assets like crypto heading into the vote.
Trump denied plans to attack Iran “at any time prior to the Midterm Elections” on Thursday on Truth Social, though Bitcoin failed to recover.
Catalyst Three: The Fed Signals Another Hike Is ComingMeeting minutes released Wednesday showed Fed officials expect another interest rate hike before year-end to combat inflation that’s run above target for more than five years as reported by CNBC.
The Fed meets next on Oct. 28 and again on Dec. 9, though the minutes gave no specific timing for the move.
The Fed’s preferred inflation gauge showed core PCE at 3% for August, still above the 2% target.
Treasury yields have climbed to levels not seen since 2002, a trend officials linked to rate expectations, AI-driven economic growth, and uncertainty around the Treasury’s buyback program.
How the Crypto Market ReactedBitcoin is breaking through the $81,000 range floor that had held for the past month.
Price broke below its 20-day EMA at $83,263 but stayed above its 50-day, 100-day and 200-day EMAs, keeping the broader uptrend technically alive.
Meanwhile, XRP (CRYPTO: XRP) down 6% after breaking below its 20-day EMA and rising trendline from August’s low. RSI dropped to 38.07, nearing oversold territory.
Moreover, Ethereum (CRYPTO: ETH) fell 6% and Dogecoin (CRYPTO: DOGE) dropped 7% in the same selloff.
Key levels for BTC: $79,600: 50-day EMA, key support Key levels for XRP: $1.40: 50-day EMA, resistance above $1.33: 100-day EMA, critical support Photo via Shutterstock
XRP (CRYPTO: XRP) ETFs hold roughly $1.6 billion combined, dwarfing Grayscale’s single Zcash fund, yet Zcash is the one generating headlines after a record-setting launch.
Why Zcash’s $1 Billion Headline Needs ContextGrayscale Managing Director Krista Lynch told The Starting Block at Token2049 that its Zcash (CRYPTO: ZEC) ETF, (NASDAQ:ZCSH), crossed $1 billion in assets in its first 30 days of trading.
That puts it among the top 1% of all ETFs launched in the past decade, ranked by how much money they gathered in their first month.
ZCSH crossed $500 million in assets with just over $70 million in net inflows during its first two weeks, according to Grayscale’s September 8 announcement.
A separate DCG-affiliated entity also contributed about $100 million of ZEC for fund shares in a disclosed related-party transaction.
Assets reflect total holdings, including token-price appreciation, so the $1 billion figure includes more than fresh outside demand. By Oct. 7, ZCSH’s reported assets had already fallen to roughly $767 million.
How XRP’s Ownership Is Split Across IssuersThe five XRP funds tracked by SoSoValue held approximately $1.61 billion combined on Oct. 7, with Bitwise (NYSE:XRP), Franklin (NYSE:XRPZ) and Canary (NASDAQ:XRPC) accounting for most of the assets.
Grayscale’s XRP fund sits at the bottom of the pack, and that gap looks different once you compare it to Zcash’s launch.
Grayscale’s XRP fund holds just 5.8% of total category assets, smaller than the $1 billion ZCSH gathered in its first month alone.
That gap traces back to heavy redemptions earlier this year, not a lack of early interest in GXRP.
As Benzinga reported on Jan. 30, GXRP saw $98.39 million in redemptions in a single session, pushing the entire XRP ETF category into net outflows that day.
Grayscale’s own SEC filing showed the toll from the first half of 2026:
Redemptions: 103.41 million XRP worth $180.78 million New creations: just $66.58 million Net redemptions: $114.20 million Fund holdings: fell from 122.23 million XRP to 55.04 million by June 30 GXRP has since started rebuilding, with Maketo estimating its holdings at roughly 65 million XRP on Oct. 7.
Who’s Actually Buying XRP ETFs?Bloomberg Intelligence analyst Eric Balchunas said earlier this year that the XRP ETF buyer base looks like “largely XRP super fans versus casual retail.”
In plain terms, loyal XRP holders, not Wall Street institutions, may be driving most of the inflows so far, which matters for whether this demand holds up over time or fades once the initial excitement wears off.
Moscow Exchange (MOEX), Russia’s largest stock exchange, plans to begin offering crypto trading on December 1 under the country’s new regulatory framework. Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP and TRON (TRX) are expected to be the initial cryptocurrencies supported by the exchange
Moscow Exchange to Offer Crypto Trading Moscow Exchange is currently testing crypto trading with professional traders, said senior managing director for sales and business development Boris Blokhin on October 8. This is a test environment for digital currency trading, testing the functionality that will eventually be implemented in the production environment
“We will continue testing until launch. We plan to provide this cryptocurrency trading capability on December 1st, in line with the new legislation,” he added, according to TASS.
Moscow Exchange intends to use its existing trading organizer license and stock-market infrastructure for crypto assets, which the new regulations permit. “Therefore, everything is very simple – both for the participants and for us” as there is no additional inclusion in the exchange’s register is required.
The announcement follows the entry into force of Russia’s cryptocurrency market legislation in early September. The Bank of Russia has begun registering crypto exchange operators and crypto custodians such as Sberbank and VTB Bank.
As CoinGape reported, Sberbank plans to launch its first crypto products on December 1. The products will be offered via SberBank Online, SberInvestments and SberBusiness. These services are already available in the bank’s overall digital platform.
Under the framework, unqualified investors can buy only Bitcoin, Ethereum, and Tether (USDT), up to 300,000 rubles per year. Qualified investors can purchase all cryptocurrencies on the platform and over-the-counter markets, without a limit on the amount.
Moscow Exchange launched perpetual futures tied to Bitcoin, Ethereum, Solana, XRP, and TRON indices last month. The contracts are quoted in US dollars, settled in Russian rubles, and limited to qualified investors. This positions Russia’s Moscow Exchange to offer regulated crypto exposure alongside banks and other licensed intermediaries.
To understand how these state-backed initiatives compare with international providers, traders can look at our comprehensive review of the regulated crypto exchanges comparison currently operating in the market.
Cryptocurrency punters are backing Democratic nominee Abdul El-Sayed to win Michigan’s midterm election, while assigning significantly lower odds to Republican candidate Mike Rogers.
‘Exciting’ Unlock For Square SellersPolygon (CRYPTO: POL)-based Polymarket currently prices in a 73% chance of El-Sayed’s victory, up sharply from a low of 56% in mid-August. The odds for Johnson have declined to 29%, compared with 34% last week.
More than $1.3 million has been wagered on the outcome as of this writing.
Race for Michigan Heats UpEl-Sayed narrowly defeated establishment-backed Rep. Haley Stevens (D-Mich.) in Michigan’s Democratic Senate primary earlier this year. He overcame $60 million in outside spending while campaigning on Medicare for All, campaign finance reform and ending unconditional U.S. military aid to Israel.
Republicans have labeled El-Sayed extreme. President Donald Trump called El-Sayed a “radical left socialist” who has a “real shot” in the upcoming midterms, urging supporters to rally behind Rogers.
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Vice President JD Vance said E-Sayed’s immigration, trade and economic positions would hurt Michigan workers and accused Democrats’ progressive wing of embracing “radicals.”
Republicans currently hold a narrow 53-47 majority in the Senate. Rogers, a former seven-term congressman and FBI agent, narrowly lost Michigan’s 2024 Senate race to Sen. Elissa Slotkin (D-Mich.).
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Photo Courtesy: Christopher J. Dean on Shutterstock.com
Market News and Data brought to you by Benzinga APIs
The analyst sees the 50-week EMA as the dividing line, with multiple closes above it needed to strengthen the bullish continuation case.
XRP is still stuck in a narrow range of around $1.46-$1.56, but an analyst has said that the compression may be about to break into a bigger move.
If the token can break out and hold its resistance, the analyst predicts a bullish path to $1.80-$2, but if it dumps below support, it could drop down to the low $1.30s or worse.
XRP Remains Trapped Between Support and Resistance In a video shared on October 7, ChartNerd described XRP’s current structure as neutral, with price squeezed between descending resistance and horizontal support. The token has spent about a week trading between $1.46 and $1.56 after failing to reclaim its previous $1.70 high, leaving a lower high beneath the earlier peak.
Previous upside wicks have also produced false breakouts, making confirmation especially important. As such, ChartNerd wants to see XRP break resistance, return to test that level as support and then push through the local high before treating the move as a confirmed continuation.
A breakout could matter because the market is already sitting close to several technical decision points. XRP was around $1.47 at the time of writing, down 1.5% in 24 hours and nearly 2% across seven days, while its 30-day performance remains positive at close to 5%. Trading volume also rose almost 32% to around $2.14 billion over the past day.
ChartNerd’s bullish setup uses the September 16 low near $1.25 and the $1.69-$1.70 high to project Fibonacci extensions. A successful breakout could put $1.80 to $2 in view, with around $2.05 as a further possibility. But resistance near $1.65 and $1.69 still needs to be cleared.
Weekly Averages Leave Room for a Deeper Retrace The weekly chart is where the analyst sees the clearest dividing line, considering XRP has been capped by its 50-week EMA for seven weeks, while the rising 20-week EMA is acting as support.
You may also like: 1.6 Billion XRP Moves to Binance: Should Investors Be Worried? ETH, XRP Sentiment Turns Deeply Negative – But Could Fear Set Up a Rebound? XRP Outflows Spike Above 320M, Echoing August Rally Setup According to him, a sustained move through the 50-week EMA, particularly with multiple weekly closes above it, would strengthen the bullish setup, and he also pointed to $1.35 as immediate weekly support, while a loss of the 20-week EMA could open a deeper move toward $1.20 to $1.10.
The broader market data adds another wrinkle, with about 1.6 billion XRP flowing into Binance over the previous 30 days, the highest such inflow since March. Those transfers do not prove selling, but continued exchange inflows alongside weakening price could add pressure.
XRP’s spot ETFs have meanwhile recorded $1.79 billion in cumulative net inflows as of October 6, including $3.14 million that day.
According to a recent report by The Wall Street Journal, Ripple now asserts itself as a major competitor to Wall Street banks in a lucrative segment of the financial world that has been largely the domain of the big banks.
The enterprise blockchain firm has become a major player when it comes to the financing of swaps for leveraged exchange-traded funds (ETFs). Such investment funds enable investors to gain more leverage over the price movements of individual stocks or stock market indexes by using derivatives like total return swaps.
Generally, major banks and brokerage houses have been the ones offering up these contracts for a fee while simultaneously hedging their risk to the underlying asset. Now, however, Ripple is trying to get a piece of this lucrative pie with its institutional brokerage arm known as Ripple Prime.
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Morningstar Direct data shows there are 593 leveraged ETFs trading in the U.S. at the moment, with assets under management totaling over $256 billion. Out of that total, 426 of them are single-stock leveraged ETFs.
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Depending on the deal, the financing fees can be quite lucrative for the providers. Per the WSJ report, one leveraged fund pays out the overnight bank funding rate plus 4% for financing costs. That amounts to about 8% right now. Plus, there is the management fees of the fund (which is around 1%).
Ripple's growth on Wall StreetRipple's incursion into the traditional financial sector has been backed by some major acquisitions, investments and partnerships with big institutions.
Perhaps one of the largest steps Ripple has taken in this direction was the announcement of the $1.25 billion acquisition of the global multi-asset prime broker Hidden Road in April 2025.
Ripple completed the deal in October 2025, and Hidden Road was rebranded as Ripple Prime. As such, Ripple was able to obtain a ready-made platform for its brokerage, clearing and financing services for FX, derivatives, fixed income and digital assets.
In August 2026, Ripple Prime started its Delta One offering, which gives institutional clients the ability to carry out total return swap transactions for U.S.-listed equities, indexes and digital assets.
Most recently, on Oct. 6, Ripple announced the expansion of its partnership with alternative asset management firm Brevan Howard, which has around $35 billion in assets under management.
Traditional Wall Street banks continue to hold the lion's share of institutional financing. However, Ripple's increasing activity in the leveraged ETF space, as well as derivatives and prime brokerage, shows that the old guard of financial institutions is being contested by an increasingly bold crypto firm.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Whale Sells 257,928 $HYPE for $23M Profit After 26x Return in 2 Years
A whale who bought 257,928 $HYPE($902K at the time) at only $3.5 ~2 years ago is selling $HYPE for profit. Over the past week, he deposited 131,421 $HYPE ($11.77M) into #Kraken at $89.56 and still holds 140,506 $HYPE ($12.2M). Total profit: over $23M, with a 26x return.
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Whale Sells 257,928 $HYPE for $23M Profit After 26x Return in 2 Years
A whale who bought 257,928 $HYPE($902K at the time) at only $3.5 ~2 years ago is selling $HYPE for profit. Over the past week, he deposited 131,421 $HYPE ($11.77M) into #Kraken at $89.56 and still holds 140,506 $HYPE ($12.2M). Total profit: over $23M, with a 26x return.
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Xie Jiayin: Peer Program Plans to Cumulatively Cover Over 2.2 Million People, Distribute $3.49 Million in Rewards
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According to Lookonchain monitoring, trader 0xdd6a has opened simultaneous short positions on BTC, ETH, SOL, XRP, and DOGE on Aster DEX using 20x leverage. All positions are currently profitable, with a total position value of approximately $26.5 million and unrealized profits of around $586,000. Breakdown: 3,629 ETH held, position value ~$9.33 million, unrealized profit ~$163,000; 73,728 SOL held, position value ~$8.52 million, unrealized profit ~$141,000; 48.37 million DOGE held, position value ~$4.24 million, unrealized profit ~$224,000; 1.68 million XRP held, position value ~$2.37 million, unrealized profit ~$53,000; 24 BTC held, position value ~$1.99 million, unrealized profit ~$5,600.
Whale Sells 257,928 $HYPE for $23M Profit After 26x Return in 2 Years
A whale who bought 257,928 $HYPE($902K at the time) at only $3.5 ~2 years ago is selling $HYPE for profit. Over the past week, he deposited 131,421 $HYPE ($11.77M) into #Kraken at $89.56 and still holds 140,506 $HYPE ($12.2M). Total profit: over $23M, with a 26x return.
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SemiAnalysis: ByteDance accounts for nearly one-fifth of China's data center capacity, almost entirely relying on leasing.
Dongcha Beating AI News Flash: Semiconductor research firm SemiAnalysis has released a survey on China’s data centers, tracking over 1,000 facilities from more than 60 operators. The report estimates that by the end of 2026, China’s data center capacity will exceed 24GW, ranking second globally behind the U.S.’s 56GW. ByteDance alone accounts for roughly one-fifth, making it China’s largest data center tenant. ByteDance has leased over 4GW of data center capacity, with suppliers including ChinaNetCenter, China United Network Data, and 21Vianet. The report notes that as of early 2026, ByteDance still contributes around 90% of ChinaNetCenter’s revenue. ByteDance has also accelerated self-built data center projects, constructing large facilities in Shanxi, Anhui, and Inner Mongolia to reduce reliance on external suppliers. While China’s data centers have long been viewed as having high vacancy rates, AI server rooms remain in tight supply. This is because many old data centers lack sufficient power and cooling capacity, making it difficult to directly deploy high-power AI servers. Newly built large AI data centers are being leased up rapidly. Taking a 100MW data center as an example, excluding IT equipment such as servers, China’s construction cost is approximately $300 million, compared to $1.5 billion in the U.S. Facilities of the same scale in China are typically delivered in around 12 months. Compared to the U.S., which faces power supply and approval hurdles, the more prominent bottleneck for expanding AI data centers in China is the supply of advanced chips.
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Mike Colyer, founder and CEO of Bitcoin mining pool operator Foundry, has stepped down after seven years in the role.
Bitcoin mining pool operator Foundry announced that its founder and CEO Mike Colyer is set to step down after seven years in the role. He will remain at Foundry as a strategic advisor for the next six months, assisting the company with its transition and CEO selection process.
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Circle partners with SAP-backed Tereina to integrate USDC and EURC into SAP’s enterprise payment software.
Circle has partnered with Tereina, a financial services firm backed by SAP, to integrate USDC and EURC stablecoins into SAP’s enterprise payment software ecosystem. The integration will kick off with SAP Cloud ERP and be made available to eligible enterprise customers via SAP Pay. The collaboration aims to enable businesses to send and receive stablecoins within their existing SAP business applications and payment workflows without switching to a separate crypto asset system. USDC will be primarily used for USD-denominated payment scenarios, while EURC is intended for euro-denominated operations. Circle and Tereina plan to launch a customer validation project in the coming months, testing stablecoin payment functions for use cases including global payments and corporate treasury management.
Whale Sells 257,928 $HYPE for $23M Profit After 26x Return in 2 Years
A whale who bought 257,928 $HYPE($902K at the time) at only $3.5 ~2 years ago is selling $HYPE for profit. Over the past week, he deposited 131,421 $HYPE ($11.77M) into #Kraken at $89.56 and still holds 140,506 $HYPE ($12.2M). Total profit: over $23M, with a 26x return.
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Ghostty's developer's new terminal Rex runs 10,000 sessions simultaneously, using only 3.8GB of memory.
Beating AI Express News: Ghostty creator Mitchell Hashimoto has announced scalability tests for his new terminal, Rex. Designed for long-lived sessions and remote connections, Rex allows terminal tasks to run continuously in the background. During the test, Rex maintained 10,000 active terminal sessions simultaneously, consuming approximately 3.8GB of memory while remaining responsive. The team has paused further scaling for now, with the next target being 100,000 sessions. At the 10,000-session mark, much of the overhead no longer stemmed from the terminal itself. The first bottleneck came from Linux’s file descriptor table, the system’s record of files and connections opened by processes. After terminal sessions exceeded around 5,000, each new process added roughly 512KB of overhead for this table alone, even though only about 4 file descriptors were actually used. Rex has since added a segment of C code to shrink this allocated space to the actual required size. Another issue was threads: Previously, Rex assigned one thread per active terminal session to wait for data, leading to excessive memory overhead at scale. Now, if a terminal has no read activity for 2 consecutive seconds, it is handed over to a shared thread for unified monitoring.
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Xie Jiayin: Peer Program Plans to Cumulatively Cover Over 2.2 Million People, Distribute $3.49 Million in Rewards
Crypto exchange Bitget held an offline event today to mark its 8th anniversary. Xie Jiayin, head of Bitget’s Greater China region, while reviewing the platform’s eight-year development journey, stated that Bitget has evolved from a single cryptocurrency trading platform into a panoramic exchange (UEX) covering diverse scenarios including stocks, commodities, and AI trading. As of the second quarter, non-crypto asset trading volume accounts for 40% of the platform’s total, with roughly one in four new users starting their Bitget journey via rToken. Looking ahead, Xie noted that Bitget will continue advancing its UEX strategy, expanding into more diverse assets and trading scenarios, and enhancing institutional-grade custody and over-the-counter (OTC) settlement infrastructure. The platform will leverage varied custody and settlement models to meet the distinct needs of different types of institutions, with institutional services remaining a key strategic focus for Bitget in the next phase. During the event, Bitget also disclosed progress on the third batch of rewards under its "Peer Program": total distributed rewards have reached $3,495,658, benefiting 2,277,318 users. Xie added that the platform aims to put "user first" into practice through product development, service upgrades, and user-centric initiatives.
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SemiAnalysis: ByteDance accounts for nearly one-fifth of China's data center capacity, almost entirely relying on leasing.
Dongcha Beating AI News Flash: Semiconductor research firm SemiAnalysis has released a survey on China’s data centers, tracking over 1,000 facilities from more than 60 operators. The report estimates that by the end of 2026, China’s data center capacity will exceed 24GW, ranking second globally behind the U.S.’s 56GW. ByteDance alone accounts for roughly one-fifth, making it China’s largest data center tenant. ByteDance has leased over 4GW of data center capacity, with suppliers including ChinaNetCenter, China United Network Data, and 21Vianet. The report notes that as of early 2026, ByteDance still contributes around 90% of ChinaNetCenter’s revenue. ByteDance has also accelerated self-built data center projects, constructing large facilities in Shanxi, Anhui, and Inner Mongolia to reduce reliance on external suppliers. While China’s data centers have long been viewed as having high vacancy rates, AI server rooms remain in tight supply. This is because many old data centers lack sufficient power and cooling capacity, making it difficult to directly deploy high-power AI servers. Newly built large AI data centers are being leased up rapidly. Taking a 100MW data center as an example, excluding IT equipment such as servers, China’s construction cost is approximately $300 million, compared to $1.5 billion in the U.S. Facilities of the same scale in China are typically delivered in around 12 months. Compared to the U.S., which faces power supply and approval hurdles, the more prominent bottleneck for expanding AI data centers in China is the supply of advanced chips.
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Mike Colyer, founder and CEO of Bitcoin mining pool operator Foundry, has stepped down after seven years in the role.
Bitcoin mining pool operator Foundry announced that its founder and CEO Mike Colyer is set to step down after seven years in the role. He will remain at Foundry as a strategic advisor for the next six months, assisting the company with its transition and CEO selection process.
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Circle partners with SAP-backed Tereina to integrate USDC and EURC into SAP’s enterprise payment software.
Circle has partnered with Tereina, a financial services firm backed by SAP, to integrate USDC and EURC stablecoins into SAP’s enterprise payment software ecosystem. The integration will kick off with SAP Cloud ERP and be made available to eligible enterprise customers via SAP Pay. The collaboration aims to enable businesses to send and receive stablecoins within their existing SAP business applications and payment workflows without switching to a separate crypto asset system. USDC will be primarily used for USD-denominated payment scenarios, while EURC is intended for euro-denominated operations. Circle and Tereina plan to launch a customer validation project in the coming months, testing stablecoin payment functions for use cases including global payments and corporate treasury management.
Ripple, a leading blockchain technology company known for its global payment infrastructure, has begun competing directly with some of Wall Street’s most prominent banks. This shift was highlighted in a recent Wall Street Journal article, which stated that Ripple has expanded its reach across various segments of the crypto industry, including stablecoins and asset custody. The report underscored the company’s transition from a crypto-focused entity to a significant player in traditional financial markets.
Ripple’s move into prime brokerageA pivotal part of Ripple’s expansion came with its 2025 acquisition of Hidden Road, a prime brokerage firm. The $1.25 billion deal led to the rebranding of the business as Ripple Prime. Now, Ripple Prime provides clearing, financing, and prime brokerage services for institutions engaged with traditional and digital asset markets.
Ripple Prime rapidly secured a major institutional client, Brevan Howard, a prominent global hedge fund. Noel Kimmel, who serves as president of Ripple Prime, described the partnership as proof of the company’s strong competitive stance and the breadth of its offerings across asset classes.
The company has also built a presence in the leveraged ETF sector, a field previously dominated by large financial institutions. By acting as a swap counterparty, Ripple earns financing fees, with a Wall Street Journal analysis noting approximately 8% annualized returns on some transactions. Morningstar Direct reports that the leveraged ETF sector comprises 593 funds with more than $256 billion in total assets.
MetricDetailAcquisition cost (Hidden Road)$1.25 billionLeveraged ETFs (number)593Assets under management$256 billionReported swap counterparty fee8% annualizedRipple and other nonbank financial firms operate under different risk frameworks compared to traditional banks. This provides a structural advantage in markets like ETF financing, which Kimmel described as an increasingly important segment for the firm’s growth.
Mini dictionary: Prime brokerage, a service offered by financial firms to institutions such as hedge funds, includes clearing, settlement, lending, and access to leverage for diverse trading activities.
Implications for XRP and the crypto sectorThe Wall Street Journal report surfaced as XRP, Ripple’s native cryptocurrency, was trading close to $1.42. Ripple Prime leverages the company’s XRP-powered infrastructure, meaning that as Ripple deepens its institutional links, demand for XRP could rise accordingly.
As Ripple’s credibility as an institutional financial operator strengthens, the perception of XRP in investment circles is also evolving. The Journal’s framing of Ripple as a challenger to major banks, rather than simply a crypto-enabled payments provider, is seen as a meaningful shift for Ripple’s ecosystem and the token’s reputation among institutional players.
Ripple’s entrance into leveraged ETF financing, coupled with established partnerships like Brevan Howard, shows how rapidly the company is positioning itself as a real competitor to Wall Street banks across both digital and traditional assets.
Growing recognition and industry statusWSJ Markets shared the news via its official account on X, describing Ripple as a company now actively entering traditional financial territory. For Ripple, which has faced regulatory scrutiny and uncertainty in recent years, this level of acknowledgment marks a notable change in industry perception.
Ripple, founded in 2012, has focused on modernizing payments using blockchain technology, providing tools and services to streamline cross-border transactions for financial institutions. The recent recognition from established financial media outlets signifies its transition into a fully-fledged institutional partner.
Describing Ripple as operating within Wall Street’s landscape, rather than at its margins, reflects the shift in how leading financial circles view the company’s ambitions and capabilities.
Ripple, a crypto payment company, is moving deeper into Wall Street, with its Ripple Prime unit emerging as a serious player in providing swap financing to leveraged ETFs.
The expansion comes as demand for leveraged funds grows, giving Ripple a new source of fee income in a market that has long been dominated by major banks.
Ripple Prime Moves Into Leveraged ETF FinancingRipple’s acquisition of prime brokerage firm Hidden Road last year is helping the company build a new source of fee income.
Nowadays, leveraged ETFs use swaps to get more exposure to an asset without buying the full amount directly. That is where Ripple Prime comes in, providing financing for these trades and earning fees from the service.
However, the market is also growing, as the U.S. has 593 leveraged ETFs with more than $256 billion in assets, including 426 funds linked to individual stocks.
Therefore, ETF expert Nate Geraci called Ripple a “serious player in providing swap financing to leveraged ETFs.”
Ripple “has emerged as a serious player in providing swap financing to leveraged ETFs”…
Explosive growth of leveraged & highly concentrated ETFs, which rely on swaps for exposure, is bringing new counterparties into the fold.
Like Ripple.
Lucrative business if you’re properly… pic.twitter.com/KU8mqTnNJX
— Nate Geraci (@NateGeraci) October 8, 2026 Ripple Earns Fees From Leveraged TradesOne example is the Tradr 2X Long SNDK Daily ETF, which aims to deliver twice the daily move of SanDisk stock.
The fund pays Ripple an annualized financing rate of around 8%, based on the overnight bank funding rate plus four percentage points. This cost is separate from the ETF’s management fee.
Ripple Prime President Noel Kimmel said the business is becoming an important part of the company.
“It’s definitely a growing and meaningful part of our business.”
3X Bitcoin and Ether ETPs Add a New OpportunityThe timing is also important for crypto markets. The first 3X leveraged Bitcoin and Ether ETPs began trading on Cboe BZX after receiving SEC approval.
These products use CME futures and swaps instead of directly holding Bitcoin or Ether.
Because they trade with leverage, they need regular financing, collateral, and rebalancing. This gives Ripple Prime another way to earn fees by supporting these products.
Ripple Expands Its Wall Street FootprintRipple Prime is also moving beyond ETFs. On 6 October, Brevan Howard, which manages about $35 billion, agreed to use Ripple Prime for brokerage, clearing, and financing.
Ripple Prime has more than $1 billion in regulatory net capital and raised $275 million through a senior debt offering to support its growth.
However, Ripple has not disclosed how much revenue comes from leveraged ETF financing or how much of the business uses XRP or the XRP Ledger.
Story Ends Here
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The prospect of XRP reaching $34 per coin has fueled discussion among investors about the potential financial impact and the future path for holders of the cryptocurrency. Some community members believe such a surge could be life-changing for those with substantial holdings, while others remain cautious about long-term price expectations.
Digital Asset Investor, a cryptocurrency commentator followed within the XRP community, shared The Modern Investor’s optimistic projection that XRP could reach $34 and suggested that holders who achieve this price might consider taking a long or even a “lifetime” vacation. Digital Asset Investor amplified this message, speculating that major financial changes could be possible for some investors if the target is reached.
At $34, XRP would be valued far above its current market level. The Modern Investor’s scenario stands among the more bullish views in ongoing community debates about long-term potential.
If XRP were to trade at $34, some holders might be able to make significant changes to their financial lives, potentially stepping away from work or other commitments.
XRP holdings and financial impactSome responses to the $34 discussion focused on practical considerations. Omar Josue, an individual investor, proposed a more conservative scenario, explaining that he expects to reach retirement age over the next three decades and speculates XRP could remain at $5 during that time. His comments underscored the unpredictability of crypto price timelines.
Other participants, such as the user known as XRPLover, emphasized the importance of the number of coins an individual owns. XRPLover noted that with a holding of 30,000 tokens, a $34 price would create significant financial gains—equivalent to a gross value of $1.02 million.
Price per XRPHoldingsGross Market Value$3430,000$1,020,000$530,000$150,000This comparison highlights why both price targets and the size of positions are critical topics in discussions about XRP’s future.
Bullish outlooks and speculative projectionsThe Modern Investor’s bullish $34 forecast aligns with increasingly ambitious price projections from other cryptocurrency analysts. Jake Claver, another crypto commentator, argued that XRP still has substantial room to grow, drawing comparisons to the global derivatives market, which is estimated to have a notional value of $844 trillion.
Claver has referenced the idea that if XRP captures a meaningful portion of capital from this market, its price could eventually climb as high as $750. CrediBULL Crypto, a market strategist, projected a $20 to $30 price target for the current cycle and contends that XRP might outperform Ethereum in terms of return on investment.
Digital Asset Investor has also previously pointed to $15 as the starting point for significant movement in XRP. Despite these optimistic forecasts, most analysts caution that such targets depend on market adoption, regulatory clarity, and the pace of capital inflows.
The range of opinions illustrates the speculative nature of cryptocurrency price predictions and the high level of uncertainty that persists even among long-standing advocates of XRP.
Mini dictionary: Global derivatives market, a financial market where traders and institutions transact derivative contracts such as futures, options, and swaps, with the total notional value often used as an indicator of its vast size and impact on global finance.
XRP’s long-term value remains hotly debated, with price targets ranging widely from $15, $20, and $34 up to the ambitious $750 suggested by some analysts, depending largely on adoption and broader market dynamics.
Large $XRP withdrawals from Binance have climbed to their highest 30-day total in seven months, according to on-chain analytics platform CryptoQuant. The figure, tracked by CryptoQuant contributor Arab Chain, points to a notable shift in how major holders are managing their positions relative to the world's largest crypto exchange.
1.38 Billion XRP Exits Binance
That pattern, if sustained, could gradually reduce the liquid supply available for trading on the exchange.
Context: Outflows Are Not the Same as Reserve Losses The headline figure requires some qualification. Coins leaving Binance may have moved to other exchanges or private wallets rather than into long-term cold storage.
That means large holders have been both depositing and withdrawing at elevated rates, adding nuance to any straightforward accumulation narrative.
Whether the latest outflow trend represents a continuation of that dynamic or a separate rotation remains to be seen.
Sources:
Bitcoin.com: XRP Whale Transfers off Binance Reach Highest Level in 7 Months
CoinGape: XRP Price Prediction as 1.38B Coins Exit Binance Amid Surging Whale Outflows
Brave New Coin: XRP Whales Dominate Exchange Outflows
In major XRP news today, crypto firm Ripple is offering swap financing for leveraged exchange-traded funds, expanding deeper into Wall Street. Leveraged ETFs financing is a fee-generating business long dominated by banks and securities firms.
Ripple Quietly Becoming Prime Intermediary in Leveraged ETFs Financing Market Ripple is positioning itself as a major Wall Street challenger and targeting the leveraged ETF financing market through brokerage arm Ripple Prime, WSJ reported on October 8. While swap financing might not entice the public like a multibillion-dollar deal or IPO, it remains one of Wall Street’s lucrative businesses.
This marks another step in Ripple’s expansion beyond cross-border payments, stablecoins, and custody into institutional market infrastructure.
Ripple Prime is supplying financing for leveraged stock ETFs and earning a financing fee, including roughly an 8% annualized financing rate from Tradr 2X Long SNDK Daily ETF. Notably, the firm is collecting daily swap spreads from products that systematically lag their benchmarks for anyone who holds them longer than a session.
Morningstar Direct data revealed the US market has 593 leveraged ETFs and holds more than $256 billion. This includes 426 funds tracking individual stocks, according to Morningstar Direct data.
Ripple now supplies that service through Ripple Prime, the prime-brokerage business it built after acquiring Hidden Road for $1.25 billion in 2025. The unit works with several ETF providers and has said it wants to extend similar services to other investment managers, including hedge funds.
Non-Banks Enter the Market amid Tighter Risk Requirements Banks provided much of this financing earlier. However, tighter capital and risk requirements have created openings for nonbank firms including Ripple Prime, Jane Street and Clear Street.
As CoinGape reported earlier, Ripple Prime launched its delta one business for institutions, enabling total return swaps on US stocks, indexes and crypto assets. This marked major news for the XRP community as the firm pushes into equity markets.
Leveraged ETFs deliver a multiple of the daily return of a stock or index, often two or three times. Managers typically obtain that exposure through total-return swaps and similar derivatives.
Earlier this week, Ripple Prime expanded its partnership with Brevan Howard to offer multi-asset prime brokerage, clearing and financing services to Brevan Howard funds.
Explosive growth of leveraged and highly concentrated ETFs, which rely on swaps for exposure, is bringing new counterparties into the fold.
ETF Prime host Nate Geraci said it is “a lucrative business if you’re properly set up to manage it and its associated risks.” He expects more alternative swap counterparties as balance sheets get tapped out on traditional options. “That’s how fast this corner of ETFs is growing,” he added.
Ripple “has emerged as a serious player in providing swap financing to leveraged ETFs”…
Explosive growth of leveraged & highly concentrated ETFs, which rely on swaps for exposure, is bringing new counterparties into the fold.
Like Ripple.
Lucrative business if you’re properly… pic.twitter.com/KU8mqTnNJX
— Nate Geraci (@NateGeraci) October 8, 2026
Traders and the XRP community responded to Ripple’s entry into the leveraged ETF financing market, driving a 1% rise in XRP price. The price is trading near $1.41 after massive crypto liquidations.
To successfully handle high-volume swap agreements, financial entities rely heavily on institutional crypto custody solutions that secure digital assets under strict regulatory compliance.
Bitcoin, Ethereum and XRP have flashed four-hour TD Sequential buy signals after sharp price declines, giving traders a possible early rebound setup as all three assets remain under selling pressure.
Summary
Bitcoin’s four-hour TD Sequential flashed a buy signal after falling 5.55% from October 5 highs. Ethereum’s four-hour buy signal appeared after ETH dropped 7.36%, with $2,620 and $2,650 recovery targets. XRP flashed the same signal after sliding from $1.53 to $1.39, according to Ali Charts. Glassnode sees Bitcoin support near $81,000, while thin volume still limits confidence in any rebound. Federal Reserve minutes show most officials still considered another interest-rate increase appropriate before year end. Ali Charts reported the Bitcoin signal on Oct. 8 after BTC fell 5.55% from $86,976 on Oct. 5 to a low near $82,150. The analyst said the reading suggested the pullback “may be nearing an end,” while stressing that the next four-hour candles still need buyers to confirm the setup.
BUY SIGNAL ON BITCOIN, ETHEREUM, AND XRP
1/5 🧵👇
— Ali Charts (@alicharts) October 8, 2026 Current market data has not yet confirmed a reversal. CoinGecko showed Bitcoin trading around $82,837 at the latest check, down roughly 1.5% over 24 hours, with a daily range between approximately $82,318 and $83,994. Twenty-four-hour trading volume stood near $36.2 billion.
Bitcoin buy signal appears near a key support area Bitcoin’s signal has appeared close to a price zone already identified by on-chain analysts as important support. Glassnode’s Oct. 7 market report placed the nearest large liquidation cluster between roughly $81,700 and $83,300, while the largest block of spot bids on Binance sat around $81,000 to $81,250.
Glassnode found a less convincing picture behind Bitcoin’s earlier climb above $85,000. Combined spot exchange and U.S. spot ETF volume averaged approximately $6.8 billion per day over seven days, a level lower than roughly 90% of trading days since January 2024. The research firm said the move above $85,000 came without a normal increase in spot activity.
Selling pressure appeared when the earlier rally reached higher levels. Glassnode found that roughly 86% of Bitcoin sent to exchanges on Oct. 4 came from short-term holders moving coins at a profit, the highest share recorded over the previous year. Sellers then placed another large group of asks near $86,500 to $86,750 after BTC briefly broke above $85,000.
Options positioning is more constructive. Glassnode reported approximately 0.56 puts for every call in open interest, while traders were spending an average of roughly $17 million more per day on calls than puts over a 30-day period. The firm cautioned that the historical record does not give the setup a clear direction.
A separate on-chain reading offers another possible support factor. Santiment reported that 24,073 BTC left exchanges on net on Oct. 5, the largest one-day outflow since March 1. Exchange balances fell to approximately 6.5% of Bitcoin’s total supply. Santiment described falling exchange supply as supportive when demand holds, but exchange withdrawals do not prove that buyers will immediately push prices higher.
🚨 BTC Exchange Supply Shrinks as 7-Month High Net of 24K Coins Leave Exchanges
🏦 Bitcoin just recorded its largest net exchange outflow in seven months. On Monday, 24,073 BTC left exchanges on net, the biggest single-day exodus since March 1st. Exchange supply has fallen to… pic.twitter.com/SknzMfKVZ9
— Santiment Intelligence (@SantimentData) October 6, 2026 As crypto.news previously reported in its October Bitcoin outlook, analysts had already identified the $82,000 area as an important level for BTC. The latest decline has brought price back into that zone.
Ethereum buy signal forms after a 7% drop Ethereum has printed a similar four-hour setup after falling 7.36% from $2,738 to around $2,537, according to Ali Charts. His ETH analysis identified $2,620 and $2,650 as possible recovery levels if buyers confirm the signal.
CoinGecko showed ETH at approximately $2,558 at the latest check, down close to 2% over 24 hours. The token traded between roughly $2,543 and $2,613 during the period, while 24-hour trading volume stood near $15.5 billion. Ethereum’s market capitalization remained close to $312 billion.
The $2,500 area has already attracted attention from traders following the recent breakdown. As crypto.news reported in its latest Ethereum price analysis, ETH fell below $2,600 after breaking its recent range, leaving the $2,500 to $2,560 area as an important support zone.
Derivatives positioning remains crowded. Daan Crypto Trades said open interest increased sharply after ETH’s decline while funding turned negative and spot selling remained strong. He described the positioning as a mixture of traders buying the dip and shorts following the downside move.
$ETH Crazy amount of Open interest piling in after the move.
Funding turned negative but spot selling also pretty rampant at the same time. Mixture of longs longing the dip and shorts piling onto the downside momentum.
Price unchanged for the past few hours so one side is bound… pic.twitter.com/DmgBlFrbl0
— Daan Crypto Trades (@DaanCrypto) October 7, 2026 The analyst said bears remained in control after ETH broke below its previous two-to-three-week range. His view was conditional because a rise in open interest can increase the size of a later move in either direction when heavily leveraged positions begin closing.
Ali’s recovery targets sit just above the current market. A move from approximately $2,558 to $2,620 would require a gain of around 2.4%, while $2,650 would place ETH roughly 3.6% above the latest CoinGecko price. Neither target has been confirmed.
Source: Ali/X XRP buy signal appears around $1.40 support XRP has flashed the third TD Sequential buy signal after falling from approximately $1.53 to $1.39. Ali Charts said an earlier TD Sequential sell reading appeared close to XRP’s recent local high, while the new signal raises the possibility of a local low.
Current price data keeps XRP close to that potential bottom area. CoinGecko showed XRP trading at approximately $1.41, down about 4.6% over 24 hours, with a daily range between $1.40 and $1.46. Trading volume stood near $2.50 billion, while perpetual futures open interest was approximately $4.64 billion.
Other technical views remain cautious. EGRAG Crypto has identified $1.41 and $1.37 as possible retest levels, with a deeper downside zone between $1.32 and $1.27 if selling continues. His setup requires buyers to reclaim the $1.55 to $1.60 region before the short-term bearish view changes.
As crypto.news reported in its XRP support analysis, the $1.40 area was already being watched after XRP moved lower despite $3.14 million of net inflows into U.S. spot XRP ETFs on Oct. 6.
The ETF flows provide one source of demand, but the latest price action shows they have not prevented short-term selling. XRP remains close to the lower edge of its current 24-hour range, leaving Ali’s four-hour signal unconfirmed at the latest price check.
What would confirm a Bitcoin, Ethereum and XRP rebound? The TD Sequential readings identify possible exhaustion after a sequence of price moves. They do not by themselves confirm a bottom, and Ali Charts said the next several four-hour candles need to show buyers returning before the signals gain confirmation.
Bitcoin has the clearest nearby market levels from Glassnode’s data. Support is concentrated from roughly $81,700 to $83,300, with major Binance bids near $81,000. On the upside, Glassnode said a settled close back above $85,500 would recover the level lost earlier this week. Another concentration of potential short liquidations sits between $87,100 and $95,900, with the largest area near $92,000.
For ETH, Ali is watching $2,620 and $2,650 if the four-hour setup receives confirmation. XRP remains close to the $1.40 zone, while EGRAG’s analysis keeps $1.37 and $1.32 to $1.27 in view if buyers fail to hold current levels.
Macro conditions remain another variable. Minutes from the Federal Reserve’s Sept. 15–16 meeting showed that most participants considered another rate increase likely appropriate by year end, though officials said future decisions would depend on incoming data. The Fed had already raised its target range by 25 basis points to 3.75%–4% at that meeting.
Crypto.news reported in its Oct. 7 market selloff coverage that BTC, ETH, XRP and SOL had all fallen sharply as leveraged long positions were forced out, with CoinGlass figures showing hundreds of millions of dollars in liquidations.
The next scheduled U.S. inflation test is the September CPI release on Oct. 14, while the Federal Reserve’s next policy meeting is set for Oct. 27–28.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Hyperliquid (HYPE): HYPE remains broadly bullish but faces rising short-term downside risk after failing near $95, with $84-$85 serving as key support.XRP (XRP): XRP's short-term structure has turned bearish after breaking below $1.45, making the $1.37-$1.40 support zone critical to preserving its broader recovery.Zcash (ZEC): ZEC remains in a broader uptrend but is undergoing a significant correction, with $1,280-$1,300 as the key support area needed to prevent deeper losses.Ethereum (ETH): ETH's sharp decline has weakened short-term momentum, with the crucial $2,500 support likely to determine whether the move stays corrective or develops into a broader reversal.Pressure on Hyperliquid risesHyperliquid is undergoing another sharp correction after failing to sustain its recovery toward the September highs. HYPE currently trades around $88.60, falling from an intraday high above $92 and putting the short-term bullish structure under renewed pressure.
HYPE/USDT Chart by TradingViewThe broader trend remains positive. HYPE rallied from approximately $57 in mid-August to a September peak near $97.50, with price continuing to trade comfortably above its medium- and long-term moving averages. However, the latest structure shows that momentum is weakening.
After reaching $97.50, HYPE initially corrected toward $85 before recovering to approximately $95. The failure to establish a new high, followed by another strong red daily candle, creates a potential lower-high structure. RSI has simultaneously slipped toward the neutral area, showing that buyers have lost some momentum.
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The immediate support sits around $87-$88, close to the rising short-term moving average. More important support exists at $84-$85, where HYPE previously attracted significant buying pressure.
A breakdown below $84 could trigger a deeper correction toward $80-$82. Below that, approximately $75 becomes the next major technical level.
For bulls, reclaiming $92.50 would improve the setup, while a breakout above $95-$97.50 is necessary to restart the broader rally and potentially open the way toward the psychological $100 level.
For now, HYPE remains structurally bullish on the broader timeframe, but another failure around $95 has increased short-term downside risk.
XRP comes back unexpectedlyXRP has suffered a significant technical setback, falling toward $1.43 after spending several weeks consolidating around $1.50. The latest daily candle has pushed the asset below its rising short-term moving average, making the next support zone increasingly important.
XRP/USDT Chart by TradingViewXRP's September rally peaked around $1.65 before buyers repeatedly failed to produce another breakout. Price subsequently formed several lower highs around $1.55, $1.53, and $1.52, indicating gradually weakening demand.
The latest decline confirms that deterioration. XRP has broken below approximately $1.45, which previously served as both short-term support and the location of its fastest rising moving average.
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Attention now shifts toward $1.40. A medium-term moving average sits around this level, while additional long-term support is concentrated near $1.37-$1.38. This makes the $1.37-$1.40 region particularly important for the broader trend.
A decisive breakdown below $1.37 could expose $1.30-$1.33 and erase a substantial portion of XRP's September recovery. Momentum is also weakening, with RSI dropping toward 50 after remaining predominantly bullish during the previous advance.
The bullish scenario now requires XRP to reclaim $1.45 first. A return above $1.50 would provide stronger evidence that the breakdown was temporary, while $1.55-$1.60 remains the larger resistance zone.
Until then, XRP's short-term structure favors sellers, with the $1.37-$1.40 support cluster likely to determine whether the broader recovery remains intact.
Will Zcash stabilize?Zcash is attempting to stabilize after one of the strongest rallies among major cryptocurrencies turned into a substantial correction. ZEC currently trades near $1,325, down roughly 22% from its recent peak around $1,700.
ZCASH/USDT Chart by TradingViewThe correction itself is significant, but the broader technical structure has not collapsed. ZEC remains well above its medium- and long-term moving averages after rising from roughly $500 in August. The problem is that short-term momentum has changed dramatically.
After reaching the $1,650-$1,700 region, ZEC produced a sequence of lower highs and lower lows, eventually falling toward $1,300. The short-term moving average around $1,320-$1,330 has now become the immediate battleground. RSI has also fallen below the neutral 50 area, confirming that bullish momentum has largely disappeared.
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The $1,280-$1,300 region is therefore critical. A decisive daily close below it could extend the correction toward $1,200-$1,170, where the next rising moving averages provide considerably stronger structural support. Losing that area would make a move toward $1,000 increasingly realistic.
For a recovery, ZEC first needs to reclaim $1,400. Above it, $1,450-$1,500 represents the next major resistance cluster. Only a sustained return above $1,550 would put the recent highs back into play.
ZEC remains in a broader uptrend, but the market has clearly entered a corrective phase. Holding $1,300 could produce another rebound; losing it would materially deepen the correction.
Ethereum's unexpected downfallEthereum has recorded a sharp daily decline, falling from an intraday high near $2,700 to approximately $2,560. The move breaks the relatively tight consolidation that had kept ETH between roughly $2,650 and $2,750 since late September.
ETH/USDT Chart by TradingViewThe immediate technical damage is visible. ETH has fallen below its rising short-term moving average near $2,630, while RSI has dropped rapidly toward the lower half of its neutral range. The large red candle also comes with elevated volume compared with several preceding sessions, strengthening the bearish short-term signal.
However, Ethereum is approaching a much more important support cluster. The $2,500-$2,520 region coincides with rising medium-term moving averages and previously acted as resistance during September. That makes it the first major level capable of stopping the decline.
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If $2,500 holds, ETH could attempt to reclaim $2,600 before challenging $2,680-$2,700 again. A recovery above $2,700 would largely neutralize the current bearish move, while $2,780-$2,800 remains the major upside barrier.
A daily breakdown below $2,500 would create a considerably weaker setup. The next meaningful support appears around $2,400-$2,450, followed by the $2,300-$2,350 region containing the slower long-term moving averages.
Ethereum's broader recovery therefore remains intact for now, but buyers have little room left. The reaction around $2,500 should determine whether the current move remains a normal correction or develops into a larger bearish reversal.
Several major cryptocurrencies have experienced renewed selling pressure, with each now testing significant support levels after failing to sustain recent gains. Ethereum, Hyperliquid (HYPE), XRP, and Zcash (ZEC) have all recorded notable declines, challenging short-term bullish momentum and raising the risk of deeper corrections if key supports do not hold.
HYPE shifts to downside risk near key supportHyperliquid, the native token of the decentralized exchange platform Hyperliquid, has faced another downturn after unable to reclaim its September highs. HYPE is currently trading around $88.60, retreating from an intraday peak above $92, as buyers struggle to maintain control following a consistent uptrend since August.
After rallying from $57 to a September high near $97.50, HYPE enjoyed comfort above its medium- and long-term moving averages. However, momentum has started to fade. The token corrected from its peak toward $85, attempted a recovery to $95, but failed to post a new high. With the latest daily red candle, analysts now see the short-term bullish setup under increased pressure, especially as the Relative Strength Index (RSI) approaches neutral, demonstrating waning buyer strength.
Immediate support is seen at $87-$88, aligning with the rising short-term moving average. More important support exists at $84-$85, where market participants previously stepped in aggressively. A breakdown under $84 could lead to additional losses toward $80-$82, while $75 becomes the next significant level below.
A recovery for bulls hinges on first reclaiming $92.50, then breaking out above $95-$97.50 to restart the broader rally. Without these, HYPE remains at risk of further downside, despite still holding its larger bullish structure.
Mini dictionary: Hyperliquid, a decentralized exchange protocol known for its order book-based trading and low latency execution, has become notable for its focus on fast, transparent on-chain trading without reliance on centralized intermediaries.
TokenCurrent PriceKey SupportRecent HighTrendHYPE$88.60$84-$85$97.50Short-term downside riskXRP$1.43$1.37-$1.40$1.65Bearish short-term structureZEC$1,325$1,280-$1,300$1,700Broad uptrend under correctionETH$2,560$2,500-$2,520$2,700At critical support After failing to regain the $95 area, HYPE faces short-term downside risk as support at $84-$85 now plays a crucial role in maintaining its bullish trend.
XRP tests critical supports after breaking downXRP, the digital asset associated with Ripple Labs, has seen its technical setup deteriorate after falling towards $1.43. The last several weeks saw XRP consolidating around $1.50, but a new selloff has pushed it below its rising short-term moving average, making the nearby support levels its next critical test.
Following a September rally to $1.65, XRP formed a series of lower highs at $1.55, $1.53, and $1.52. This downshift signaled fading bullish enthusiasm. Breaking below $1.45, previously both a support and the location of its fastest moving average, has shifted the outlook in favor of sellers.
Market focus now turns to the $1.37-$1.40 zone. This region holds both the medium-term moving average and longer-term technical support. If buyers cannot protect this cluster, a decline toward $1.30-$1.33 could rapidly unfold, erasing much of the asset’s previous recovery. Meanwhile, the RSI is slipping toward 50, consistent with declining momentum.
To reverse the immediate bearish outlook, XRP must reclaim $1.45, then move above $1.50, with larger resistance remaining at $1.55-$1.60. Until then, conditions continue favoring sellers in the near term.
XRP’s shift below $1.45 and its cluster of lower highs now put the emphasis on holding $1.37-$1.40 to avoid a deeper correction.
Zcash corrects but holds broader uptrendZcash, a privacy-focused cryptocurrency launched in 2016, is navigating a significant pullback after one of its strongest rallies in recent months. ZEC is currently trading around $1,325, down about 22% from a peak of roughly $1,700. Despite the intensity of the correction, the asset remains well placed above its medium- and long-term moving averages after a steady climb since August.
Short-term momentum has faded as a sequence of lower highs and lows pulled ZEC to $1,300. The crucial battleground lies at $1,280-$1,300, where the short-term moving average provides immediate support. The RSI also suggests that upside momentum has largely dissipated.
If ZEC closes the day below $1,280-$1,300, analysts expect potential extension of losses into the $1,170-$1,200 range, where structural supports remain stronger. Should these levels be lost, a move toward $1,000 may become likely. For a shift back to bullish sentiment, ZEC must first reclaim $1,400, with further resistance at $1,450-$1,500. A sustained break above $1,550 would put previous highs back in play.
Despite current weakness, holding $1,300 could spark another rebound, while losing this area would deepen the correction and threaten the broader uptrend.
Ethereum eyes pivotal support amid selloffEthereum, the world’s leading smart contract platform, has registered a sharp decline, sliding from an intraday high near $2,700 to approximately $2,560. This move ends a period of consolidation between $2,650 and $2,750 and pushes the asset below its short-term moving average near $2,630.
The latest sell-off saw RSI fall quickly toward the bottom half of its neutral range, while trading volumes spiked compared to recent sessions. This draws attention to the $2,500-$2,520 region as a key area which previously acted as September resistance and now aligns with rising medium-term moving averages.
If buyers defend $2,500, ETH may attempt a recovery toward $2,600 and then $2,680-$2,700. Overcoming $2,700 would neutralize current bearish sentiment, while major resistance remains at $2,780-$2,800. A breakdown below $2,500, however, would signal further weakness, with new support at $2,400-$2,450 and then $2,300-$2,350.
While Ethereum’s broader uptrend is technically intact, traders are closely watching the reaction at $2,500, which is likely to determine whether this move remains a short-term correction or develops into a deeper bearish reversal.
Veteran trader Peter Brandt (@PeterLBrandt) has named Monero (@monero) his clear favorite after publishing a side-by-side weekly chart comparison of several major altcoins, a review that left $XRP trailing its peers on pure price-action grounds.
Monero Gets the Nod Brandt recently published a weekly chart comparison of XRP, Monero, and Solana, judging each asset purely on classical price patterns and measured moves. His verdict on $XMR was unambiguous. The privacy-focused cryptocurrency stood out because Brandt considered all of its overhead supply already absorbed, contrasting that position sharply with XRP's burden and describing Monero as having "clear sailing ahead."
His reasoning is that $XMR has already worked through the holders who bought at higher prices and may sell when price returns, a condition he calls absorbed supply, while XRP still carries a large amount of it overhead. Among the altcoins analyzed, Brandt ranks Monero first, followed by Solana and Ether, with XRP lower on his preference list.
XRP: A Bullish Setup With a Big Caveat Brandt has outlined a path for XRP to reach $2.16, based on technical analysis from a chart position near $1.51, implying approximately 43% growth potential from that level. He spotted a cup-and-handle formation potentially developing as part of a broader inverse head-and-shoulders configuration.
Significant supply overhead in the $2 to $3.70 range, however, may generate selling pressure during any XRP recovery. XRP remains well below major peaks from its previous rally, leaving higher price levels that could attract selling as the token advances, creating resistance along its potential upward path. Brandt was direct in his assessment, writing that there is "a TON of overhead supply to work through" in XRP and calling it a clear negative for the token.
Brandt sees further XRP right shoulder development as likely but not required, and his current $2.16 daily objective differs from his earlier $5.40 projection. He has been consistent in cautioning that chart targets are conditional. He asked XRP holders not to take the weaker chart assessment personally, noting that patterns morph and measured moves can fail.
Sources
Bitcoin.com: Peter Brandt Favors Monero Over XRP Despite Bullish Price Targets
BeInCrypto: Which Crypto Has the Best Chart? Peter Brandt Compares XRP, Monero and Solana
KuCoin News: Peter Brandt Maps $2.16 XRP Target but Warns of Heavy Selling Resistance
The XRP price has slipped by more than 6% today at the time of writing, amid a broader crypto market crash. However, despite the retreat, a recent update from Paxos, which hints that the blockchain firm is extending its backing for XRP, has gained notable traction.
Paxos Brings XRP Support to its Crypto Brokerage In a recent X post, Paxos said that its Crypto Brokerage platform now supports XRP, fueling market interest. The development could widen access to XRP for businesses using Paxos as their regulated crypto infrastructure provider.
According to Paxos, XRP has been in circulation since 2012, highlighting its broad adoption across more than 8.1 million wallets. Meanwhile, the key development is Paxos allowing its partners to offer XRP through its existing brokerage infrastructure.
The XRP Ledger Foundation also highlighted the significance of the move. It said that Paxos Crypto Brokerage already serves major financial platforms, including PayPal, Venmo, Interactive Brokers, Charles Schwab, and Mercado Libre.
On the other hand, the post showed that the partners can now provide XRP-related functions through the platform. These include buying, selling, holding, depositing, and withdrawing XRP, according to the foundation.
Ripple Expands its Institutional Footprint The Paxos announcement comes as Ripple continues expanding its institutional infrastructure. Ripple Custody has recently been integrated with Canton, a network focused on institutional financial applications.
The integration brings Ripple’s custody technology to Canton. It also expands support for digital assets and institutions operating within its ecosystem.
Source: Canton Network, X Meanwhile, Ripple has also expanded its relationship with Brevan Howard recently. Its prime brokerage platform is expected to provide selected services to the investment firm.
The relationship builds on an earlier connection between the two companies. For context, Brevan Howard affiliates previously invested in Ripple, further highlighting institutional interest in the blockchain company.
However, despite that, XRP price fell more than 6% today to $1.43 at the time of writing. The recent retreat could also be attributed to Ripple sending $150 million in XRP to Binance, fueling sell-off concerns.
Ahmed Barakat is a journalist and copywriter based in Georgia with a growing focus on blockchain technology, DeFi, AI, privacy, digital assets, and fintech innovation.
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Ripple headquarters in Dubai. Ripple and South Korean brokerage Meritz Securities have signed a strategic partnership to assess Ripple Custody and Ripple’s tokenization infrastructure for the country’s capital markets. The review comes as digital assets move toward formal regulatory recognition in South Korea, while the XRP price slips below $1.50.
South Korean financial firm Meritz Securities is partnering with Ripple to bring institutional digital asset custody and tokenization to the local market.
The two companies will roll out these new services in stages as South Korea's financial regulations officially embrace… pic.twitter.com/VDEyJfeJqe
— XRP Myth Buster (@XRPMythBuster) October 7, 2026 The companies plan to begin cooperation within the limits of existing securities-business rules and regulations, then consider expanding it in stages as South Korea’s digital-asset framework develops.
Meritz Securities said it is examining possible business lines that could become relevant as digital assets enter the regulated financial system.
This list helps explain why the Ripple tie-up may matter beyond custody: Meritz is assessing how several kinds of digital-asset services could fit its capital-markets business as rules change. But the company has not tied those potential activities to Ripple, nor said that any of them will proceed.
Tokenized securities can represent financial assets on a blockchain, but issuance and investor rights depend on the product and its legal structure; tokenization’s relationship to ownership and liquidity is therefore central to assessing any future offering.
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What Does the Ripple Infrastructure Review Cover?Ripple Custody is described as Ripple’s institutional digital-asset custody solution, while the company’s tokenization infrastructure is intended for use by financial institutions. Both are currently offered to global financial institutions, and Meritz and Ripple will jointly review how they could be brought to the Korean capital market.
The announcement specifies no blockchain network, custody volume, asset-issuance process, customer group, transaction mechanics, or operating model.
For financial institutions, custody and tokenization are related but distinct pieces of infrastructure: custody concerns safeguarding and managing digital assets, while tokenization concerns representing assets in digital form. The partnership does not spell out how those functions would connect in a Korean service.
Institutional custody also involves operational controls and execution requirements beyond simply holding assets, as discussed in the evolution of institutional custody and execution.
Meritz said the arrangement is intended to combine Ripple’s global digital-asset infrastructure with the brokerage’s capital-markets capabilities, and that it plans to prepare digital-asset financial services in stages as domestic rules change.
Ripple Asia-Pacific Managing Director Fiona Murray said the company would explore how digital-asset infrastructure could support the continued development of Korea’s capital markets. Neither statement sets out a delivery milestone or commits either firm to a commercial launch.
Trade XRP on Bybit and Get a Chance to Win Our $1,000 USDT Airdrop
XRP Price Eyes A Bullish CatalystXRP is trading around $1.45, down 4.3% over the past 24 hours and 3.9% over the last seven days, according to CoinGecko. The token has also slipped from around $1.52 during the latest 24-hour range, suggesting sellers still have the upper hand in the near term.
The setup remains cautious, with XRP struggling to hold recent gains despite Ripple’s latest expansion into South Korea’s capital markets. Our prediction-market data puts the $1.40 area as a key downside level, while $1.60 represents the more notable upside target for October. CoinGecko
A sustained move above $1.60 could therefore shift the XRP price outlook toward a stronger recovery, while losing $1.40 could expose the token to deeper downside. For now, XRP appears to be caught between those levels, making the Ripple-Meritz partnership a potential catalyst rather than an immediate price trigger.
Paxos has added XRP to its Crypto Brokerage platform, enabling partners to offer buying, selling, holding, depositing, and withdrawing for a token the company says is held across more than 8.1 million wallets.
Summary
Paxos has added XRP support for partner trading, custody, deposits and withdrawals. The XRP Ledger Foundation named PayPal, Venmo and major brokerages among Paxos’s existing clients. Schwab’s August token expansion included SOL, AVAX and LINK, without an XRP listing. Ripple has separately expanded custody support to Canton and brokerage services to Brevan Howard. Paxos said its brokerage now supports XRP, giving businesses using its infrastructure another asset they can offer through their own platforms. In the announcement, the company cited XRP’s circulation since 2012 and a wallet count above 8.1 million.
Paxos Crypto Brokerage now supports $XRP.
In circulation since 2012, XRP is now held across 8.1M+ wallets, and carries a market cap of nearly $95B.
Partners can now offer XRP through the same regulated platform trusted by some of the biggest names in finance. pic.twitter.com/yiFeuU0ELb
— Paxos (@Paxos) October 7, 2026 According to the XRP Ledger Foundation’s account of the update, partners can use the service for XRP purchases, sales, custody, and transfers. The foundation named PayPal, Venmo, Interactive Brokers, Charles Schwab and Mercado Libre among financial platforms already served by Paxos.
XRP traded at $1.43, down more than 6% during the crypto market sell-off.
Paxos XRP support adds trading and transfer functions On its brokerage product page, Paxos describes a service that lets businesses put cryptocurrency wallets and trading inside their existing applications. Its infrastructure supports buying, selling and holding assets, alongside transfers to and from external addresses.
For businesses integrating the service, the company says it supplies custody, licensing and trade execution. Paxos also describes functions for converting between cash and crypto, settling payments and allowing supported assets to move within a partner’s customer network.
Under the model described by Paxos, the partner provides the customer-facing platform while Paxos supplies the underlying crypto services. The XRP announcement adds the token to that infrastructure, rather than identifying a separate consumer application launched by Paxos.
In its listing policy, the company says assets undergo an evaluation and approval process before receiving support. The brokerage page describes its business as an infrastructure provider that does not compete for partners’ end users.
The foundation’s list of Paxos clients identifies existing business relationships. It should not be read as a separate XRP listing announcement from each named platform; the supplied announcement concerns support within Paxos Crypto Brokerage.
U.S. access depends on each partner’s token lineup For American brokerage customers, Charles Schwab’s recent expansion provides a specific example of how a Paxos relationship operates. As crypto.news reported on Aug. 27, Schwab announced plans to add three altcoins, Solana, Avalanche, and Chainlink, to its crypto service in the coming months.
According to that report, Schwab’s planned additions would take its selection to five tokens, following its Bitcoin and Ethereum launch. XRP was outside the lineup named in the August announcement.
Within Schwab’s custody arrangement, the report identified Charles Schwab Premier Bank as the holder of customer assets and Paxos as the provider of trade execution and sub-custody. Customers use a separate Schwab Crypto account connected to their existing brokerage relationship.
The August coverage put Schwab’s crypto transaction fee at 0.75% and noted that external deposits and withdrawals were unavailable at the service’s launch. During its July earnings update, Schwab said it had begun testing transfers.
At the end of the second quarter, Schwab reported $13.1 trillion in client assets and 39.8 million active brokerage accounts. Those figures cover the firm’s business, rather than XRP holdings or customers eligible to trade XRP.
Ripple Custody now supports Canton assets In a separate custody update, Ripple’s Oct. 5 release notes confirmed that version 1.43 supports Canton, a public blockchain used by regulated institutions for tokenization, settlement and repurchase agreements.
According to the documentation, customers can hold and transfer Canton Coin and CIP-56 tokens through Ripple Custody. The assets use the platform’s existing approval controls and audit records.
For the connection, Ripple requires a Canton validator operated by the customer or its node provider. The documentation says signing keys remain in the customer’s vault, while accounts can receive assets through pre-approved transfers without signing each incoming transaction separately.
Ripple also describes a two-step transfer process that lets recipients accept or reject incoming offers. Senders can withdraw offers before the recipient acts on them.
Under the release terms, Canton support is available for customer-operated deployments and through a hybrid model for cloud customers. Ripple says cloud deployment will proceed gradually from the release date, with Canton managed through its application interface in this version.
Ripple Prime expands services for Brevan Howard On Oct. 6, Ripple announced an expanded agreement to serve Brevan Howard through Ripple Prime. The agreement covers multi-asset prime brokerage, clearing and financing for the investment manager’s funds across traditional and digital markets.
According to Ripple’s announcement, the services bring several asset classes and products into one platform. The company said funds managed by Brevan Howard affiliates also participated in its $500 million strategic investment in 2025.
Brevan Howard Group Chief Operating Officer Alan McGroarty said the firm expects the arrangement to provide “increased operational ease and capital efficiency” for its investment teams.
For U.S. market exposure, the Oct. 6 coverage detailed Ripple Prime’s August launch of total return swaps linked to U.S.-listed equities, indexes and digital assets. Ripple said institutional clients could maintain one counterparty relationship and cross-margin-supported positions across asset classes.
Ahead of that launch, Ripple Prime completed a $275 million private placement of senior unsecured notes on Aug. 18. According to the company’s financing announcement, the proceeds would support working capital and general corporate purposes as the brokerage expanded its U.S. business.
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Ripple has released an update to its institutional platform, Ripple Custody version 1.43, adding support for the Canton Network. The release allows banks and funds to custody the native Canton Coin (CC) and CIP-56 tokens within a single secure environment, marking a major strategic move by the company to dominate the Wall Street tokenization market.
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The move changes the balance of power in the race to tokenize real-world assets (RWA) and dispels a popular media myth from late 2025 that Canton was an "XRP killer." Instead of a head-on battle for banking infrastructure, major players have moved toward a pragmatic division of labor.
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Tokenization giants choose market division over all-out rivalryThe main problem with blockchain on Wall Street has been excessive transparency: banks cannot disclose their balances and transaction details to competitors. Canton Network, developed by Digital Asset, addresses this issue at the protocol level — in multi-party transactions, each participant sees only their own data.
The Ripple Custody 1.43 update gives institutions a familiar control panel for this private environment, from isolated key storage to pre-approvals and two-step transfers.
The scale of the integration is far removed from retail speculation. Canton's industrial base is already used by Goldman Sachs, BNP Paribas, and BNY Mellon. Broadridge's platform processes multibillion-dollar repo transactions through it every day, while clearing giant DTCC tokenizes U.S. Treasuries on these rails. The CIP-56 standard allows such settlements to be conducted on a delivery-versus-payment basis, atomically and without vulnerable cross-chain bridges.
Ripple Custody release documentation detailing Canton Network integration features, Source: Ripple You Might Also Like
In late 2025, amid a rally and Bitwise's preparations to launch a Canton Coin-based ETF, the media expected a war for banking corridors. The latest release has put everything in its place, clearly showing how major players have simply divided their spheres of influence in the tokenization market instead of competing head-on.
Canton Network is taking on the role of a private ledger and a "digital notary" for recording ownership rights within the banking sector. Ripple and the XRP token, in turn, remain a public liquidity bridge for transferring value across borders between fragmented systems.
Custody support for Canton allows Ripple to prevent banking clients from leaving and cement its position as a key infrastructure partner for Wall Street in a multichain world.
XRP (CRYPTO: XRP) fell 4% Wednesday even as Ripple signed a new partnership with South Korea’s Meritz Securities to bring digital asset custody to the country’s capital markets.
What the Meritz Partnership CoversThe signing ceremony took place Oct. 1 at Meritz’s headquarters in Seoul, with Meritz CEO Jang Won-jae and Ripple President Monica Long both in attendance.
Under the deal, the two companies will jointly review how to bring Ripple’s tokenization infrastructure and Ripple Custody, its institutional digital asset custody solution, into Korea’s capital market.
Both services already run for global financial institutions elsewhere. The firms plan to start within the limits of existing securities rules, then expand as Korea’s digital asset regulations develop.
Meritz has been studying several related businesses as it anticipates digital assets entering the regulated financial system, including spot ETFs, fractional investment products, security token offerings, and won-denominated stablecoins.
Ripple Asia-Pacific Managing Director Fiona Murray said the company would explore how its infrastructure can support the growth of Korea’s capital markets.
Why XRP Fell AnywayDespite the partnership news, XRP sold off sharply alongside a broader crypto pullback. The token dropped to $1.43 after rejecting near $1.60 and breaking below its 20-day EMA at $1.47.
The Parabolic SAR flipped bearish, confirming near-term momentum has turned against the recent rally.
Even so, price still holds above the 50-day, 100-day and 200-day EMAs, keeping the broader uptrend technically intact.
The pullback reads as a test of support rather than a confirmed breakdown.
One Analyst’s Long-Range Bull CaseWidely-followed crypto analyst Gert van Lagen posted on X a monthly chart showing a triangle pattern he says targets roughly $50 for XRP, a level that would put its market cap near $3 trillion.
He pointed to 2017, when XRP gained 50-fold against Bitcoin in two months, arguing a repeat could put XRP at $50 with Bitcoin near $450,000.
At $1.47, a move to $50 would mark a gain of about 3,300%. Van Lagen’s framework is a long-range outlook rather than a short-term call, and it rests entirely on his own chart reading.
@CantonNetwork has announced that @Ripple's institutional custody platform has integrated the Canton Network, marking a notable convergence between two of the more significant players in institutional digital asset infrastructure.
What the Integration Actually Delivers The support arrives with Ripple Custody version 1.43, .
There are defined limits to the current rollout.
Why Canton Matters for Institutional Finance
For $XRP holders, the integration reinforces the complementary nature of the two networks rather than any competitive rivalry. Ripple's custody infrastructure now sits across both its own ledger and a network that handles some of the largest institutional transaction volumes in the sector, a positioning that could benefit both $CC and $XRP over the medium term.
Sources:
Crypto Briefing: Ripple Custody adds Canton Network support for institutions
Token Post: Ripple Custody Adds Canton Network Support for Institutional Asset Management
Canton Network: Official Overview
The XRP Ledger, the decentralized blockchain network behind the XRP cryptocurrency, was launched with a fixed supply of 100 billion XRP. No additional coins can ever enter circulation, making XRP’s total supply permanently capped.
Fee-burning mechanism and transaction dynamicsOn X, crypto analyst Pumpius detailed the implications of XRP’s immutable supply as the network experiences rising demand, particularly driven by artificial intelligence agents. Each transaction on the XRP Ledger requires a fee, and this fee is not recycled. Instead, it is irrevocably destroyed, or “burned,” reducing the total supply of XRP over time.
The minimum fee for a transaction on XRPL is 10 drops—the smallest unit of XRP. Under periods of high network activity, fees can be set as high as 100 drops per transaction. Pumpius calculated that if transaction fees remain at this elevated level, one trillion transactions would permanently remove 100 million XRP from circulation. Once burned, these coins do not return to the supply.
At high-load levels, every trillion transactions requiring 100 drops per transaction results in 100 million XRP destroyed—an amount permanently removed from the ledger’s total supply.
AI agents and the growth of XRP paymentsArtificial intelligence agents are increasingly active on the XRP Ledger. Over the past three months, AI-driven payments processed through the x402 protocol hit 10.8 million transactions, after crossing the initial 1 million mark in a short period. Daily averages now reach 500,000 payments handled by more than 2,000 live services and APIs.
These AI agents autonomously settle payments for tasks like data queries, inference, and access to financial APIs, using XRP or RLUSD, without human involvement. Pumpius emphasized that such activity is relentless and continuous, as “AI agents do not sleep. Institutional settlement does not wait for business hours.” Sustained transaction volume from AI participants could compound the impact of the burn mechanism more quickly than traditional users.
Mini dictionary: x402 protocol, a standard on the XRP Ledger designed to enable autonomous machine-to-machine payments using cryptocurrency, often employed by AI agents for executing programmable economic transactions.
Ripple sets ambitious targets for AI transactionsMonica Long, president of Ripple—the company developing enterprise solutions for the XRP Ledger—projected a massive increase in AI activity. Speaking at XRPL Seoul 2026, she predicted that AI agent transactions on the ledger could reach 100 million, a tenfold jump from the current 11 million. Long expressed optimism about XRP’s growth prospects due to the momentum generated by AI-related use cases.
Long expects AI agent transactions on the XRP Ledger to reach 100 million soon, driven by autonomous activity that never pauses.
A tenfold increase in network activity could significantly accelerate XRP’s burn rate. Should the ledger process 10 trillion AI transactions at a rate of 100 drops per transaction, the result would be 1 billion XRP burned. With the maximum possible supply fixed at 100 billion and no way to replenish it, such a pace could noticeably decrease the total available XRP in a matter of years.
Transaction VolumeFee per Transaction (drops)XRP Burned1 trillion100100 million XRP10 trillion1001 billion XRPTokenization and the future of supply constraintsPumpius highlighted that, unlike traditional fiat or inflationary cryptocurrencies, XRP’s supply cannot expand to meet new demand. As the ledger begins to host more tokenized real-world assets, the issue of a shrinking supply may gain prominence alongside surging AI-driven payment volumes.
Long also forecast significant growth in the value of tokenized assets managed by XRPL. She predicted that tokenized real-world assets on the ledger will climb from $100 million at the start of 2025 to $6 billion, and by 2027 could reach $30 billion.
Mini dictionary: Tokenized real-world assets are tangible or financial assets, such as real estate, stocks, or commodities, represented digitally and traded on a blockchain for greater liquidity and transferability.
Adoption rates alter the fundamentalsThe notion of 100 billion XRP once seemed vast, but the landscape could change if adoption accelerates. Pumpius explained that the significance of the finite supply becomes obvious when real-world and AI-driven applications push transaction volumes into the trillions, amplifying the effect of fee burning on XRP’s scarcity.
Ripple has updated its institutional custody solution to version 1.43, enabling support for the Canton Network. This advancement allows banks and institutional funds to securely hold Canton Coin (CC) and CIP-56 tokens within a single platform. The development is seen as a strategic effort by Ripple, a leading blockchain company specializing in cross-border payments and digital asset infrastructure, to expand its influence in the rapidly growing tokenization market on Wall Street.
Collaboration over competition shapes tokenization sectorIndustry participants have increasingly shifted toward cooperation instead of direct competition in the race to tokenize real-world assets. The rivalry initially forecasted between platforms like Ripple and the Canton Network has instead resulted in a pragmatic division of roles. Contrary to earlier media reports in late 2025 labeling Canton as a potential “XRP killer,” both networks are now serving distinct functions within the financial ecosystem.
A longstanding challenge for blockchain adoption in traditional finance is the issue of transparency. Banks are cautious about exposing sensitive information such as balances and transaction histories to their competitors. The Canton Network, developed by enterprise blockchain firm Digital Asset, addresses this by offering privacy-focused protocol features. In multi-party transactions on Canton, each participant can only view their own relevant data.
Mini dictionary: Canton Network, launched by Digital Asset, is a privacy-centric blockchain platform designed for institutions, enabling secure, confidential settlement and tokenization of financial assets.
Ripple Custody 1.43 provides institutions with the familiar controls expected of an enterprise-grade environment, including isolated key storage, transaction pre-approvals, and multi-step transfer mechanisms.
Major financial institutions embrace private tokenization infrastructureThe scale of Canton Network’s adoption is significant, focused far more on institutional applications than on retail digital assets. Notable financial institutions such as Goldman Sachs, BNP Paribas, and BNY Mellon are already utilizing Canton for operational purposes. Broadridge’s platform moves multibillion-dollar repurchase agreements (repos) daily over Canton, while the Depository Trust & Clearing Corporation (DTCC) uses these rails to tokenize U.S. Treasuries.
InstitutionUse CaseIntegrated NetworkGoldman SachsAsset tokenizationCantonBNP ParibasSettlement platformCantonBroadridgeRepo transactionsCantonDTCCTokenized TreasuriesCantonThe integration of the CIP-56 token standard enables settlement on a delivery-versus-payment basis, eliminating the need for external cross-chain bridges and reducing operational risk.
Mini dictionary: CIP-56 is a Canton Improvement Proposal standard that governs token behavior for atomic, secure settlement and delivery-versus-payment models within the Canton Network.
Private ledgers like Canton serve as digital notaries for financial institutions, recording ownership rights with enhanced privacy, while public blockchain networks such as Ripple remain focused on cross-border liquidity and value transfer between disparate systems.
Ripple cements its position in the multichain eraBy extending custody support to Canton, Ripple aims to strengthen relationships with its banking partners, minimizing the risk of client attrition and underlining its role as a foundational infrastructure provider for tokenization projects on Wall Street.
Industry observers are interpreting this development as a sign of market maturity, with leading players leveraging their respective strengths rather than pursuing direct confrontation for the control of digital asset rails.
The environment continues to evolve as new tokenization use cases and collaborative infrastructure arrangements emerge, reinforcing the transition toward a multichain ecosystem in traditional finance.
Technical analyst Dark Defender has identified a decisive setup on XRP’s daily chart, pointing to an imminent breakout that could define the next key move for the cryptocurrency. At the time of analysis, XRP changed hands at around $1.52 as it hovered near a critical technical formation.
Symmetrical triangle signals next moveXRP rallied sharply from a Wave (5) low at $0.9852 to reach a high near $1.6992, marking a significant move in late August. This initial surge, classified as Wave (1), was followed by a corrective drop to the $1.30 area for Wave (2). Subsequent price action compressed within converging trendlines, forming a symmetrical triangle pattern on the chart. The asset currently trades at the apex of this triangle, where the next 24 hours are expected to be pivotal for further direction.
The symmetrical triangle is a technical pattern often interpreted as a period of price consolidation before a breakout in either direction. XRP’s pattern has seen a sequence of higher lows and lower highs, with recent rallies pushing the price toward the triangle’s upper boundary but failing to secure a sustained breakout so far.
Mini dictionary: Symmetrical triangle, a chart pattern marked by converging trendlines of higher lows and lower highs, usually signaling a consolidation before a breakout or breakdown.
Key price levels and technical indicatorsDark Defender’s chart analysis mapped out significant Fibonacci retracement and extension levels. Notable supports include the 50.00% retracement at $1.2939, 61.80% at $1.3798, and 70.20% at $1.4445. Immediate resistance aligns with the 85.40% Fibonacci level at $1.5692, while further upside targets the 161.80% extension at $1.8815. A breakout above the triangle could propel XRP nearly 24% higher toward this upper target.
LevelFibonacci (%)PriceSupport 150.00%$1.2939Support 261.80%$1.3798Support 370.20%$1.4445Resistance 185.40%$1.5692Target161.80%$1.8815The chart further highlights the Relative Strength Index (RSI) at 58.11, which remains in neutral-to-bullish territory. After cooling from above 70 during the previous spike, the RSI is not currently overbought or oversold. A bullish crossover has emerged as the RSI tests its signal line from below, often seen as confirmation of increasing bullish momentum.
XRP sits at the apex of a symmetrical triangle and is challenging the 85.40% Fibonacci resistance. If price clears the nearby resistance levels, a move toward $1.8815 becomes increasingly likely.
Dark Defender illustrated the critical nature of the current phase, describing it as a “24-hour decision” for the market. A break above the blue trendline could set the stage for a new uptrend, while a drop below the triangle’s lower support would negate the bullish outlook. The market will be closely watching the resistance levels at $1.5692 and $1.6992 for confirmation of any bullish breakout.
Dark Defender is an independent crypto analyst known for technical chart interpretations and XRP commentary on social media.
If XRP holds above its trendline support and momentum remains positive, the next session could be decisive in determining whether the asset continues upward or begins a new correction.
Finance analyst Levi stated that XRP and the broader cryptocurrency market could see benefits following the introduction of new regulatory measures for digital assets in the United States.
CFTC initiates regulatory clarityIn a recent video, Levi described the Commodity Futures Trading Commission’s (CFTC) initial set of rules for the US crypto industry as a significant step forward, particularly for XRP and similar digital assets.
Levi cited comments from CFTC Chair Mike Selig, who declared, “clear rules of the road start now.” He interpreted this as a signal that US regulators are moving toward a transparent framework for cryptocurrencies, providing increased certainty for exchanges and projects previously navigating ambiguous regulations.
He characterized the CFTC’s announcement as a pivotal moment for the US digital asset sector. Levi explained that well-defined rules are likely to give firms greater confidence to launch new products and expand their operations within the country.
Levi emphasized that a more transparent regulatory framework could encourage both corporations and institutions to increase their involvement in the US digital asset market, as improved clarity would help reduce risk and uncertainty.
Positive implications for XRP holdersLevi drew a direct connection between clearer regulations and increased optimism for XRP’s outlook. He noted that regulatory improvements have long been anticipated by many XRP investors, as such changes could encourage growth and support for the digital asset in the US market.
Despite the positive developments, Levi cautioned that regulatory clarity does not guarantee price gains for XRP or other cryptocurrencies. He noted that the interplay between market demand, liquidity, institutional adoption, and actual regulatory implementation would ultimately shape future performance.
Market participants are closely monitoring updates from regulators like the CFTC, as each new step toward transparency has the potential to reshape investor sentiment and influence market activity.
Bullish outlook if clarity continuesLevi provided an optimistic forecast should the US continue down the path of regulatory transparency. He stated that maintain this trajectory could result in significantly higher prices across the crypto sector.
In his remarks, Levi described the CFTC’s action as launching a new regulatory era in the country. He argued that further certainty would likely prompt greater investment activity, especially from entities that had previously hesitated amid uncertainty.
He encouraged digital asset investors to stay alert and prepare for what he regards as a potentially stronger period for the market, should a clear regulatory framework take hold.
In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, navigating across multiple platforms for charts, news, and portfolio management may result in missed opportunities. Many traders are now using privacy-focused tools like CryptoAppsy to centralize real-time charts, tailored price alerts, coin-specific news, and macroeconomic data—all without requiring account creation. This approach can help investors react quickly to fast-moving market conditions and regulatory updates.
For XRP holders, Levi linked the asset’s potential outlook directly to the emergence of regulatory clarity, suggesting that future regulatory decisions could play a crucial role in shaping market direction.
MAJURO, Marshall Islands, Oct. 07, 2026 (GLOBE NEWSWIRE) -- Remittix has set $0.46 as the final RTX presale price before the token’s scheduled November 24, 2026 market debut, establishing the last pricing stage in a campaign that has raised more than $32 million from over 40,000 participants.
RTX remains available at $0.23 in the current stage. The announced progression to $0.46 creates a defined presale path as Remittix advances toward its $36 million hard cap and expands real-user testing of its PayFi application.
The update comes as XRP price prediction discussions extend toward $10 and Solana’s Alpenglow upgrade supports $200 SOL forecasts. All three stories center on payments, speed and financial utility, but Remittix offers the earlier-stage entry.
Remittix Defines the Final RTX Presale Stage
The $0.46 figure is the announced final presale price, not the current RTX price. Buyers can still access the present $0.23 stage while allocation remains available, creating a visible pricing transition ahead of the November 24 launch.
Remittix has also opened PayFi access to 1,000 holders. Users can test EUR and USD routes while more currencies, assets and networks are prepared. With crypto-to-fiat and fiat-to-crypto functionality available, the final presale is supported by a product in users’ hands rather than a concept alone.
PayFi Connects a Broader Remittix Product Suite
The Remittix PayFi ecosystem aims to bridge digital assets and conventional bank settlement. Users can fund eligible payments with crypto while recipients receive fiat, offering a direct route for remittances, freelance income, supplier payments and cross-border business transfers.
The project is also building a wider financial environment around that payment layer. Remittix Markets is live with hundreds of perpetual markets and more than $50 million in processed volume. Its iOS wallet has surpassed 10,000 downloads, while the Android version is awaiting approval.
Remittix Earn is approaching release with advertised yields of up to 22% APY on eligible holdings. Together, these services create one application for several recurring user needs.
XRP and Solana Put Scale and Speed in Focus
XRP recently traded near $1.46, meaning a move to $10 would require an increase of approximately 585%. The $10 XRP price prediction represents a highly bullish scenario built around institutional payment adoption, ETF demand, stablecoin growth and greater activity across the XRP Ledger.
Solana recently traded near $118. A $200 target would imply close to 70% upside and is being supported by expectations around continued application growth and Alpenglow, the network’s planned consensus overhaul. The upgrade targets finality of roughly 150 milliseconds, down from approximately 12.8 seconds under TowerBFT.
XRP demonstrates the scale of a payment-led narrative, while Solana highlights faster infrastructure. Remittix combines both themes at the consumer layer by moving crypto value toward bank settlement.
The Final Price Path Sharpens the Launch Opportunity
Remittix now has three visible launch markers: a live $0.23 stage, an announced $0.46 final presale price and a scheduled November 24 market debut. Its 1,000-user PayFi rollout adds a product milestone to that pricing timeline.
As the project approaches its hard cap, the presale is the remaining entry before wider market access. Payments, Markets, wallet adoption and Earn give RTX multiple potential demand channels beyond one isolated use case.
About Remittix
Remittix is developing a connected PayFi and digital-asset ecosystem. Its products include crypto-to-bank and bank-to-crypto payments, Remittix Markets, a mobile wallet and the forthcoming Remittix Earn service.
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Meritz Securities, one of South Korea’s leading brokerages, has signed a strategic partnership with Ripple to explore how Ripple Custody and Ripple’s tokenization infrastructure can be applied to Korea’s capital markets.
The two firms formalized the agreement at Meritz’s Yeouido headquarters in Seoul, with Meritz CEO Jang Won-jae and Ripple President Monica Long in attendance. Meritz disclosed the deal on October 7, 2026.
Korea’s 2027 Tokenized-Securities Rules Drive the Timing South Korea’s tokenized-securities amendments are scheduled to take effect on February 4, 2027.
That deadline is why both firms are moving now. They want infrastructure in place before the rules widen commercial possibilities.
The partnership is framed as a review, not a product launch. Both sides plan to work within existing securities regulations first. Broader cooperation will follow as Korea’s digital-asset rules evolve.
This move fits a broader pattern. Ripple Custody went live at Garanti BBVA in Turkey, pairing custody with RLUSD rails, a template Meritz could mirror in Korea as local rules open up.
Meritz is already reviewing a wide range of digital-asset services.
Those include spot digital-asset ETFs, fractional investment products, security token offerings (STOs), digital-asset trading platforms, and won-denominated stablecoins. The Ripple pact provides the custody and tokenization backbone those lines may eventually run on.
Korea’s institutional tokenization pipeline is growing fast. Securitize and LG CNS recently partnered on tokenized assets and stablecoins in the same market.
Separately, SBI and Kyobo completed a direct Japan-Korea stablecoin transfer pilot, a cross-border use case Ripple is already part of. Meritz now becomes another node in that growing network.
Fiona Murray, Ripple’s Asia-Pacific managing director, noted that Ripple would explore how its digital-asset infrastructure can support Korea’s capital markets.
No specific product, customer segment, or settlement asset, XRP, RLUSD, or XRPL, has been confirmed by either side.
Ripple’s Custody-First Expansion Strategy Takes Hold in Asia The Meritz deal follows Ripple’s established playbook: enter with custody, then layer on broader services as regulations permit.
South Africa’s Absa CIB rolled out bank-backed crypto custody powered by Ripple, another instance of an institutional custodian anchoring the relationship before any retail product goes live.
On the tokenization infrastructure side, Ripple’s partnership with SettleMint to boost tokenization adoption in TradFi signals how serious the firm is about positioning itself as the rails for regulated securities globally. Meritz appears to be next in line.
Ripple’s institutional reach has also expanded on the prime brokerage front. Ripple expanded its partnership with Brevan Howard for prime brokerage services, reinforcing its position as a multi-product institutional counterparty.
That depth of relationships strengthens the case for Meritz choosing Ripple as its partner of record.
XRP briefly outpaced Bitcoin in 24-hour trading volume on Upbit around the announcement window, roughly $111 million against approximately $105 million, per local reporting. However, the partnership itself does not specify an XRP role.
Paxos recently rolled out XRP offerings for brokerage partners, adding weight to the token’s institutional momentum. Meanwhile, Evernorth’s XRPN Nasdaq debut was pushed to October 12 after an administrative delay, another signal of the broadening XRP treasury narrative that runs alongside deals like Meritz.
XRP and HYPE Stand Apart in a Difficult WeekIn a week where most of the crypto market has struggled to attract fresh capital, two altcoins have bucked the trend. Spot ETFs tied to @Ripple $XRP and @HyperliquidX $HYPE are the only altcoin products to record positive inflows, with $XRP funds up $3.14 million on the week and $HYPE ETFs adding $277,000, according to @BSCNews.
The narrow breadth of positive flows underscores how selective institutional buyers have become. Rather than rotating broadly into altcoins, allocators appear to be picking specific names and staying cautious everywhere else. Institutional money has continued flowing into the most established crypto ETF categories while retreating from newer altcoin products, a pattern that fits a risk-off rotation inside crypto itself, where allocators trim exposure to higher-beta assets and maintain core positions.
Context: A Rocky Start to October for Altcoin ETFsThe week's figures arrive after a turbulent stretch for altcoin ETF flows. Weekly inflows into XRP and Solana spot ETFs dropped more than 94% in the prior week, according to CryptoPotato, a sharp pullback after several weeks of steady institutional buying. That $XRP has managed to return to positive territory so quickly reflects the resilience of demand for the asset.
$XRP ETFs have recorded net inflows for 12 consecutive weeks, according to SoSoValue data, even as Bitcoin and Ethereum ETFs each posted three weekly outflows since mid-July. Cumulative inflows into U.S. spot $XRP funds have now surpassed $1.79 billion since their launch in late 2025.
For $HYPE, the picture is more mixed. Hyperliquid ETF flows have turned positive again in October after recording net outflows during September. The rally in $HYPE has been supported by strong protocol revenue, consistent fee-funded buybacks, and inflows into U.S. spot HYPE ETFs from Bitwise and Grayscale. Still, the modest $277,000 weekly inflow signals that conviction remains thin compared to earlier in the year.
With most altcoins seeing outflows and sentiment subdued across the broader market, the fact that $XRP and $HYPE are attracting any net new capital at all may be the more notable data point this week.
Sources
XRP and SOL Spot ETF Inflows Crash 94% as Altcoin Demand Cools (SpendNode)
XRP Enters October With 3 Bullish Signals Quietly Stacking Up (BeInCrypto)
Hyperliquid Price Analysis October 6, 2026 (UseTheBitcoin)
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Bitcoin broke below $84,000 support Wednesday as Treasury yields surged to 24-year highs.
Notable Statistics:
Coinglass data shows 124,815 traders were liquidated in the past 24 hours for $716.71 million. SoSoValue data shows net inflows of $118.9 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net outflows of $201.9 million. In the past 24 hours, top gainers include Raydium, Bitway and Figure Heloc. Notable Developments:
XRP Plummets 4% to $1.43: What is Going On?Bitcoin Analyst Who Sold the Top Is Bearish Again: ‘I’m Building Shorts’Bitcoin’s Rally Ran on Thin Volume: Is a Cascade to $81,000 Next?Robinhood Joins Strategy, Tesla In Holding Bitcoin, Exec Says: ‘We Care Deeply About Bitcoin’Bitcoin Plunges to $83,500, ETH, XRP Lose Over 3%: What Is Going On?PENGU, DOGE, SHIB Plunge 7% as Pudgy Penguins’ Parent Exits BlockchainEric Trump Says Crypto Can ‘Declare Victory’ Over Banks: Is He Right?Tom Lee Says Bitmine Will ‘Stop’ Buying ETH—BMNR Falls 6%Trader Notes:
Heavily followed key opinion leader Scott Melker said in an interview with industry expert Noelle Acheson that a surging 10-year yield and oil above $100 act as major macro headwinds weighing on Bitcoin.
The bullish macro thesis is that worsening Treasury-market stress eventually forces liquidity intervention, which could become the next major catalyst for Bitcoin.
Image: Shutterstock
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Bitcoin, Ethereum, XRP, and Solana have fallen between 4.3% and 6.3% over the past 24 hours on Oct. 7, as the broader crypto market cap dropped 3.8% to $2.925 trillion.
Summary
A 3.8% market cap decline implies approximately $115.5 billion in lost value, using CoinGecko’s rounded figures. Bitcoin fell 4.3%, while Ethereum, XRP and Solana posted larger losses over 24 hours. CoinGlass figures cited in early coverage put long liquidations near $487 million over 24 hours. LVRG Research’s Dan Khus described the decline as a leverage flush as traders await Fed minutes. CoinGecko data showed Bitcoin trading at $82,855.50, down 4.3%, while Ethereum fell 5.8% to $2,564.48 in the individual asset pages checked for this report. XRP lost 6.3% to $1.42, and Solana declined 4.9% to $115.80.
Across other major tokens, the tracker recorded losses of 8.5% for Cardano and 8.2% for Dogecoin. BNB slipped 2.5%, Chainlink and Hyperliquid each fell 5.2%, and TRON declined 0.3%, according to their CoinGecko pages.
Using the main page’s rounded capitalization and percentage change, the market was worth approximately $3.041 trillion a day earlier. The estimated $115.5 billion reduction measures the change in token valuations rather than an equivalent amount of cash withdrawn by investors.
Forced long closures have accelerated BTC and ETH losses CoinGlass data cited in an Oct. 7 report on the crypto market’s liquidation wave put total forced position closures at approximately $554.8 million over 24 hours, including $487 million in longs. Within one hour, the same report recorded $403.58 million in long liquidations, representing 97% of the $415.33 million total.
In comments shared with crypto.news, Dan Khus, chief analyst at LVRG Research, attributed the dip to crowded bets on rising prices being forced out. He described the episode as a leverage flush rather than the start of a downward trend.
“The dip in crypto prices serves as a leverage flush instead of a downward trend, stemming from crowded bets on higher prices being forced out, with most of the liquidations coming from long positions.”
According to the liquidation report, falling prices forced exchanges to close bullish leveraged positions, adding sell orders during the decline. Its CoinGlass snapshot put the one-hour liquidations at about 0.27% of total open interest, leaving substantial derivatives exposure after the initial drop.
Ether positions accounted for roughly $174 million of a separate $547 million liquidation, as per reports. Futures trading volume rose 16% to $182.85 billion while open interest slipped just 1% to $152.60 billion.
Tanker attacks and oil prices have added selling pressure CoinDesk linked Bitcoin’s fall below $84,000 to stepped-up Iranian attacks on tankers in the Strait of Hormuz, with Brent crude moving above $101 a barrel as Treasury yields and the dollar rose.
In an Oct. 5 dispatch, Reuters reported that shipping intelligence service Marisks had counted at least seven tanker incidents during the preceding week. Marisks said the Kazimah III was struck on Oct. 1 and the Lipsi on Oct. 4; crews on both ships were reported safe.
The same dispatch placed the Strait of Hormuz’s pre-war share at about 20% of global crude and liquefied natural gas supply. Reuters also reported that Gulf crude exports had exceeded pre-war levels on 14 days in September, despite continued shipping risks.
Wednesday’s early market coverage cited Reuters figures placing the 10-year U.S. Treasury yield at 5.307% and the dollar index at 102.07, up 0.16%. The report also noted preparations for a $39 billion auction of 10-year Treasury securities.
For American Bitcoin investors, HashKey Group senior researcher Tim Sun had already identified long-term yields, U.S. spot ETF flows and derivatives leverage as the main factors to follow. In Sep. 29 coverage of another Fed hike’s risks, Sun said higher long-term rates and tighter dollar liquidity could weaken Bitcoin demand.
Fed minutes have put another rate increase in focus Khus said traders were watching Wednesday’s Federal Reserve meeting minutes for indications that policymakers still wanted another increase this year. He also identified next week’s inflation reading and Bitcoin’s ability to hold the mid-$80,000 area as tests for whether forced selling would resume.
The Federal Reserve’s September statement raised its target range by 25 basis points to 3.75%–4.00%. As covered on Sep. 16 in the report on the unanimous Fed rate increase, all 12 voting members supported the first hike since July 2023.
The September coverage also recorded 16 of 18 policymakers projecting at least one additional quarter-point increase before year-end. According to that report, Goldman Sachs Asset Management’s Kay Haigh regarded December as the base case for another increase, with inflation readings and energy prices influencing the decision.
By Oct. 1, coverage of Jefferson’s rate hike comments cited Polymarket odds of 23% for an October increase, compared with about 70% a week earlier. The same report said Goldman Sachs had moved its forecast for the next increase to December.
In his Oct. 1 speech, Fed Vice Chair Philip Jefferson said future policy changes should depend on economic data, the outlook and the balance of risks. He supported September’s increase but said officials might need more time to reach their next judgment, while identifying geopolitical developments and stronger demand as upside risks to inflation.
Four Hyperliquid wallets opened shorts before Bitcoin fell Lookonchain’s Oct. 7 monitoring, reproduced by ICOBench, identified four newly created wallets depositing a combined $1 million in USDC into Hyperliquid before opening Bitcoin shorts listed at 40x leverage. The positions totaled 148.49 BTC, worth approximately $12.5 million, according to the blockchain tracker.
ICOBench’s review placed the short entries between $85,475 and $85,577 and reported approximately $235,000 in unrealized profits with Bitcoin near $83,942 at its snapshot. The publication said the available records did not show the wallets’ complete margin arrangements, other positions, or hedges.
Crypto market selloff on Wednesday saw the market cap tumble back to $2.9 trillion, wiping out more than $100 billion over the last 24 hours. Sentiment among crypto investors still remains strong, with the Crypto Market Fear & Greed Index dropping from 73 (greed) to 70 (greed) today.
Bitcoin (BTC) has plunged more than 4% to below $83K, losing the recent upside momentum. Ethereum (ETH) slumped 6% to $4,436, witnessing significantly higher liquidations than BTC in the last 24 hours.
Top altcoins XRP, Solana (SOL), Dogecoin (DOGE), and Zcash (HYPE) fell 3-7% over the last 24 hours. SKY and Uniswap are down nearly 12% and 11%, respectively.
US Treasury Yields Drive Selloff in Crypto Market Stocks and the crypto market are witnessing widespread profit-taking by high-leverage traders as US 10-year Treasury yields (US10Y) briefly rose above 5.35% for the first time in 24 years. This happened due to bond sales today, mortgage rates hit new 3-year highs, and inflation concerns amid strikes by Iran.
The benchmark 10-year Treasury yield fell back to 5.30% as investors are now awaiting Treasury buyback and the FOMC Meeting Minutes release. Increasing expectations that the Federal Reserve will pause interest rates are causing Treasury yields to reverse.
BREAKING: The Nasdaq 100 extends losses to -200 points on the day as US Treasury yields hit their highest level since 2002 and oil prices rise. pic.twitter.com/nRaIuHt79u
— The Kobeissi Letter (@KobeissiLetter) October 7, 2026
Also, the U.S. Dollar Index (DXY) reversed to $102.3 after rising to 102.50 today, the highest level since March 2025. Rising oil prices today fueled inflation concerns and renewed expectations that the Fed would need to keep monetary policy tighter for longer.
Massive Bitcoin, ETH, XRP, SOL, DOGE, XPL Crypto Liquidations The crypto market saw a massive $700 million in total liquidations, according to Coinglass data. Notably, nearly $650 million in long positions and $50 million in short positions were liquidated over the last 24 hours.
More than 123K traders were liquidated in the last 24 hours, with the largest single liquidation order of ETH-USDC worth $26.64 million on crypto exchange Binance. The largest Bitcoin liquidation was valued at $11.75 million.
As per the data, ETH, BTC, SOL, XRP, DOGE, XAU, ZEC, UNI, SUI, XAG, and HYPE recorded the largest liquidations, causing a broader crypto market selloff.
Total Crypto Market Liquidations. Source: Coinglass Also Read: Top Reasons Why the Crypto Market Is Going Down Today
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Ripple CTO David Schwartz is underestimating the true potential of lending on the XRP Ledger, and the Flare Networks ecosystem is ready to prove it in practice. Flare CEO Hugo Philion made this ambitious but friendly claim.
In his view, one of XRP's chief architects is overlooking what many users have also missed - the scale of external infrastructure that can be integrated into Ripple's network.
Philion explains that while the XRPL's native lending protocol, XLS-66, is stalled at the validator voting stage, his team has already built a workaround. Flare is betting that, with Protocol Managed Wallets and its Flare Confidential Compute stack, any application can be built with whatever logic you want.
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@JoelKatz thinks that lending on the XRPL will be big. As incredibly bright as David is - I’d wager that even he is underestimating quite how big it can be! ;)
— Hugo Philion (@HugoPhilion) October 7, 2026 In Philion's view, these two components will come as close as possible to giving the XRPL full smart contract capabilities.
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As a result, any add-on will function as if it were native to the XRPL. Asset holders will be able to lend coins directly from their native wallets, completely avoiding the risks of cross-chain bridges. But the executive's economic incentive is clear: as always, all fees flow into FLARE.
How to put XRP to work right now: Flare's approachAs evidence, Philion points to a lending market that Flare has already deployed on external platforms using FXRP.
While Ripple's native XLS-66 model, designed for off-chain underwriting by Clearpool and Cicada, is still awaiting approval, investors have already borrowed $7.2 million in the new RLUSD stablecoin through Flare's infrastructure, using 10.8 million wrapped XRP as collateral. This highly concentrated sector, where just three addresses currently hold 93% of the debt in Morpho pools and Sentora provides liquidity, despite RLUSD's total supply of $2.4 billion, clearly demonstrates the potential demand.
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Summing up his position, Hugo Philion confirmed that his company does have plans for lending on the XRPL.
Rather than wait for major ledger upgrades from Ripple, Flare intends to deploy programmable logic on its own side, thereby channeling new financial flows into its own ecosystem.
The partnership adds Ripple's custody and tokenization technology to Meritz Securities' plans for entering South Korea's digital asset sector.
Meritz Securities is stepping further into digital assets through a new partnership with Ripple. The South Korean securities firm said on October 7 that it signed a strategic agreement with the blockchain company to explore digital asset infrastructure for the domestic market.
The deal will focus on custody and tokenization as digital assets move closer to formal recognition within South Korea’s financial system.
Ripple’s Korean Expansion The partnership was signed on October 1 at Meritz Securities’ headquarters in Seoul’s Yeouido district. Its chief executive, Jang Won-jae, and Ripple President Monica Long attended the ceremony, along with other officials.
As part of the agreement, the companies will look at how Ripple’s tokenization infrastructure and Ripple Custody can be used in South Korea’s capital markets. Both solutions are already available to financial institutions globally. Their initial cooperation will stay within current securities business rules and other existing regulations, with plans to expand the partnership gradually as the country’s digital asset rules develop.
Meritz Securities has already been reviewing several digital asset businesses, such as spot ETFs, fractional investment products, security token offerings, trading platforms, as well as won-based stablecoins.
Ripple has been expanding its footprint in South Korea’s digital asset market this year. In April, internet-only lender K Bank moved beyond initial blockchain remittance trials through a new partnership with the company. The bank is testing whether Ripple’s network can make cross-border transfers faster, cheaper, and more transparent.
Its second proof-of-concept phase includes account integration and on-chain transfer tests with partners in the UAE and Thailand. KBank also plans to replace its in-house wallet with Ripple’s SaaS-based Palisade wallet during the next phase.
You may also like: OKX Adds Circle, Ripple, QRT, and SC Ventures as Investors at $25B Valuation Ripple (XRP) Scores Another Major Wall Street Win With Brevan Howard Major Ripple (XRP) Reveal From Seoul: XRPL Gets Privacy, AI Agent Upgrades, and More Ripple has also worked with Kyobo Life Insurance on institutional digital asset infrastructure. The focus is on tokenized government bond transactions.
Meanwhile, XRP has been particularly popular among Korean investors in their twenties. It accounted for 20.7% of their portfolios, compared with a combined 17.5% for Bitcoin and Ethereum, which put XRP 3.2 percentage points ahead.
A Bigger Institutional Push The company is also expanding its institutional business elsewhere. For instance, Ripple partnered with Brazil’s CSD BR to use the XRP Ledger for recording and auditing tokenized financial assets. The first phase will focus on investment fund shares from BTG Pactual.
The system will run alongside CSD BR’s existing infrastructure and give eligible participants near-real-time access to blockchain records. Access will be limited to approved corporate and banking clients.
Ripple has also deepened its relationship with Brevan Howard. The investment manager will use Ripple Prime for multi-asset prime brokerage, clearing, and financing.
Ripple has executed a significant transfer of XRP, moving 99,866,844 tokens valued at approximately $149.6 million. This transaction was first flagged by analyst Xaif, who shared detailed on-chain data revealing a larger pattern of fund movement.
Transaction specificsThe transfer took place on October 6, with Ripple sending the XRP from its managed wallet to an address tagged with Destination Tag 681503328. Upon settlement at 4:18 PM UTC, the transaction incurred a minimal fee of only 0.000015 XRP. Prior to the transfer, the receiving wallet held 38,196.4 XRP. After the transaction, its balance increased to 99,905,040.611845 XRP.
The low transaction cost highlights one of XRP Ledger’s main advantages in enabling large-scale fund movement at a fraction of a cent.
WalletBalance BeforeBalance AfterFee PaidDestination (681503328)38,196.4 XRP99,905,040.611845 XRP0.000015 XRPFlow of fundsBlockchain tracking service Whale Alert also monitored the transaction, identifying the recipient as an “unknown wallet.” On closer inspection, on-chain activation records link this address—and a subsequent wallet to which the funds were moved—directly to Binance, the world’s largest cryptocurrency exchange by trading volume.
Ripple’s substantial transfer did not remain idle, with the XRP later moved to a second wallet also associated with Binance. Both wallets show activation connections to the exchange. This movement suggests that Ripple may be managing liquidity or facilitating exchange-related operations.
Mini dictionary: Whale Alert, a blockchain tracking platform that monitors and reports large cryptocurrency transactions across major networks, providing real-time updates on fund movements involving exchanges, companies, and prominent wallets.
Pattern of similar XRP transfersData from Whale Alert shows that three additional major XRP transfers occurred within this period, each conveying roughly 99,865,845 tokens. Two of these were movements between wallets already associated with Binance. The earliest transfer highlighted by analyst Xaif originated directly from Ripple’s designated wallet, marking the start of this cluster of activity.
Market and community responseThese latest transactions took place only hours after another nearly 100 million XRP transfer involving Ripple. Several community members on social media argued that such transactions are routine fund movements rather than direct sales into the market. One user said the classification of “unknown wallet” simply reflects labeling conventions, not necessarily evidence of an imminent sale. The same user pointed to $1.55 as a level to watch for XRP.
“Unknown is just a tag, not proof of a sale. $1.55 continues to be a key price for $XRP,” wrote one participant.
Another community member claimed the tokens ended up in a Ripple-controlled wallet, disputing speculation about an imminent market dump by the company. On-chain data supports the assertion that funds have moved between Ripple and Binance-linked wallets, indicating operational rather than market-driven transfers.
At the time of these transactions, XRP traded at $1.47, showing a 2.35% decline on the day. One social media commenter argued the transfers carried no broader significance, while another speculated the move could relate to an acquisition, though no concrete evidence for this has surfaced. In recent years, Ripple has pursued multiple acquisitions to expand the XRP ecosystem and utility, but no new details emerged in connection with these recent transfers.
One observer suggested the community bookmark the large transaction for future reference, though no official links to any specific acquisition activity have been confirmed.
XRP price faces a technical test as traders watch whether the recent recovery can hold above an important support level.
Widely followed trader 360Trader highlighted the setup on X, noting that XRP was trading at $1.51, or 6.6% above its 50-day moving average on Binance, when the analysis was posted.
The trader said XRP was still pressing against its daily trend despite weak trading volume, suggesting that the move had yet to receive strong confirmation.
XRP Price Must Hold $1.37 “Let me show you what’s actually happening here,” the trader wrote before outlining the key levels.
According to 360Trader, $1.37 is the key level to watch. Holding above it would keep the current structure intact, while a break below it would alter XRP’s technical setup. Notably, $1.37 coincides with XRP’s 200-day EMA, making it an important long-term support level.
The trader added that the next move will determine whether XRP sees further follow-through or fades into the following week.
XRP/USD Price Chart XRP Remains Up 4.24% Monthly Meanwhile, XRP has pulled back from the $1.51 level highlighted by 360Trader. According to CoinMarketCap data, XRP is currently trading around $1.46.
The cryptocurrency is down 2.7% over the past 24 hours and 2.32% over the past week. Despite the recent weakness, XRP remains up 4.24% over the past month.
With the ongoing dip, $1.37 is an important level for traders to watch, as holding above it preserves the current structure, while a breakdown could put the recent recovery under pressure.
Other Analysts Watch Key $1.45–$1.52 Levels Other market watchers share a similar view to 360Trader. Earlier this week, analyst Ali Martinez argued for a bullish setup after XRP price broke above a descending resistance line on the four-hour chart. He said that holding above $1.50 could push XRP toward $1.62.
However, ChartNerd is more cautious, pointing to repeated fake breakouts. The analyst sees $1.45 as key support and $1.50–$1.52 as resistance. A break above that range could open the way toward $1.54–$1.62, while a drop below $1.45 would weaken the bullish outlook.
Meanwhile, analyst CW says XRP is showing strong accumulation, with an “Extreme” accumulation score of 100/100 over 48 four-hour periods. Low volatility and weak trend indicators suggest that the token remains in a tight range as buyers quietly accumulate.
Longer term, Peter Brandt sees a potential cup-and-handle pattern targeting around $2.16, though he says the pattern is still developing and warns of significant selling pressure at higher levels.
In sum, $1.35 to $1.45 is critical support, while $1.50–$1.55 is the key breakout zone. Holding above this range could open the way toward the $1.62 target, while falling below $1.37 would weaken the bullish setup.
Bitwise has expanded its XRP exposure again as institutional investors appear to have shown renewed interest during the last ETF trading session.
After a few days of staying silent, recent market data shows that Bitwise has bought more XRP than it has done so far this month, even though the market is currently volatile.
Bitwise attracts more capital Although XRP has failed to sustain the uptrend seen during the weekend, institutional investors remain convinced about its future price potential.
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As such, they have continued to expand their XRP exposure through Bitwise, as data shows that Bitwise has bought over $10.55 million worth of XRP.
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The purchase came after Bitwise attracted fresh capital into the XRP ETF market, representing the sole capital contributor among all XRP ETFs, as major funds like Franklin Templeton and Canary Capital only recorded withdrawals for the day.
Notably, the move represents the largest XRP purchase Bitwise has made since October began, as it had only recorded little to no inflows in the past few days.
XRP turns bearish While the size of the recent XRP purchase from Bitwise is not entirely significant, the timing of the transaction has made it most noticeable, as it suggests that investors may be buying XRP's dip.
Despite trading above $1.50 earlier this week, XRP has suddenly reversed to a deeper price level in the last day, dropping to around $1.43 earlier today.
The subtle XRP ETF demand through Bitwise marks a major divergence from its current price movement, sparking curiosity about XRP's price potential for the rest of the month.
XRP has fallen toward $1.45 after U.S. spot XRP ETFs added $3.14 million on Oct. 6, leaving traders focused on $1.40 support after a sharp market selloff.
Summary
XRP ETFs added $3.14 million Tuesday as Bitwise inflows offset outflows across competing U.S. funds. XRP trades near $1.45 after falling 4.3%, while weekly losses remain close to 3.9%. Evernorth expects XRPN trading to begin October 12 after an administrative delay changed its timetable. XRPL developers expect fixBatchV1_2 activation October 9 if validator support remains above the required threshold. EGRAG Crypto says $1.40 support and $1.4850 resistance will shape XRP’s short-term breakdown setup next. CoinGecko shows XRP trading around $1.45, down 4.3% over 24 hours and 3.9% during the past seven days. Trading volume stands near $2.24 billion, while roughly 63 billion XRP in circulation gives the token a market capitalization above $91 billion.
Tuesday’s ETF flows arrived before XRP dropped from roughly $1.52 to $1.46 during a fast crypto selloff early Wednesday. SoSoValue data U.S. spot XRP funds recorded $3.1404 million in net inflows on Oct. 6. Bitwise accounted for $10.5514 million of inflows, while Franklin’s XRPZ recorded a $4.0702 million withdrawal.
XRP ETF inflows stayed positive before price fell Bitwise’s positive session lifted its cumulative XRP ETF inflows to roughly $688 million. Franklin’s fund retained approximately $501 million in historical net inflows despite Tuesday’s withdrawal. Other funds collectively accounted for the remaining outflows needed to bring the daily total down to $3.14 million.
Total cumulative inflows into U.S. spot XRP ETFs reached $1.794 billion, while the funds held roughly $1.697 billion in net assets. SoSoValue placed the XRP net asset ratio at 1.79%.
The ETF data preceded the price decline. XRP fell from approximately $1.52 to $1.46 during the early-Oct. 7 market selloff, while Bitcoin slipped below $84,000. The move occurred during a period of heavy crypto long liquidations.
Current derivatives data remain defensive. CoinGlass shows XRP around $1.45 with approximately $3.38 billion in futures open interest and $3.67 billion in 24-hour futures volume.
A liquidation model at 9:00 UTC placed one concentrated XRP long-liquidation area near $1.4306 and a large short cluster near $1.6299. The model estimates potential exposure at those levels; it does not establish where XRP will trade next.
XRP price indicators give sellers the advantage XRP’s supplied technical chart shows momentum weakening around $1.4432. The MACD line sits near 0.0265, below its signal line around 0.0370, while the histogram has turned negative near -0.0105.
The setup represents a bearish MACD crossover as buying momentum fades. Both values remain relatively close, so the indicator does not establish the depth or duration of any further decline.
XRP price chart, source: TradingView RSI stands near 47.99, below its moving average around 57.07 and slightly under the neutral 50 level. XRP is therefore not in traditionally oversold territory, although the indicator currently gives sellers the stronger momentum reading.
Crypto analyst EGRAG Crypto wrote that $1.40 remains an important level in his breakdown setup. His scenario requires XRP to hold that area and regain $1.4850 on a daily closing basis for the move lower to have a “strong chance” of becoming a fakeout.
#XRP – BREAKDOWN LIVE WATCH:
I am watching a LIVE breakdown formation.
The key levels are simple:
🟢 $1.40 holds + daily close back above $1.4850 → strong chance this breakdown becomes a FAKEOUT.
🔴 Full-body daily close below $1.4850 → breakdown gains confirmation, and we… pic.twitter.com/s56Xw0jLY6
— EGRAG CRYPTO (@egragcrypto) October 7, 2026 A full-body daily close below $1.4850 would strengthen his bearish scenario. EGRAG separately placed potential downside levels at $1.41, $1.37 and a deeper 1.32-1.27 zone.
For bulls, his three-day setup requires closes above $1.55 and then $1.596 before he considers the current bearish thesis weakened. The targets represent an analyst’s technical scenarios, not confirmed future XRP prices.
In another model, EGRAG applied a 50% reduction to XRP’s 2016-2017 percentage swings. His hypothetical sequence produced $1.22, $2.45 and $1.55 levels from a $1.70 starting point. He explicitly described the exercise as an “assumption, not a forecast.”
#XRP – 3 GREEN MONTHS: BACK TO HISTORY 📘:
📘- ASSUMPTION : 50% DIMINISHING-MAGNITUDE MODEL
🔹For this scenario, I am not assuming XRP will repeat the full volatility of 2016–2017.
Why?
🔹#XRP today is a far more mature and significantly larger asset than it was in 2016.… pic.twitter.com/5T8X2hrppU
— EGRAG CRYPTO (@egragcrypto) October 7, 2026 Current CoinGecko data place XRP well below $1.4850 but still above the analyst’s $1.40 support.
Evernorth expects XRPN trading on Oct. 12 A separate institutional XRP event is scheduled for next week. Evernorth Holdings expects its Class A shares to begin Nasdaq trading under the ticker XRPN on or around Oct. 12.
An Oct. 6 SEC filing states that Evernorth’s business combination with Armada Acquisition Corp. II is expected to close around Oct. 9. The company attributed the revised timetable to an administrative delay that it said was not expected to prevent closing.
Armada II shareholders approved the business combination on Sept. 30. Evernorth’s SEC registration statement on Form S-4 has already become effective, although the transaction still depends on customary closing conditions and Nasdaq listing requirements.
As crypto.news reported, the Oct. 12 date represents a four-day delay from the previously expected Oct. 8 trading debut. Evernorth expects to hold roughly 473 million XRP at closing and describes the planned company as an XRP-focused treasury vehicle.
In related crypto.news coverage, Armada’s shareholder vote recorded 19,331,337 votes in favor of the transaction, 1,362,081 against and 930 abstentions.
XRP Ledger upgrades face two October deadlines XRP Ledger developers are preparing another network change while XRP trades around its current support area.
The XRP Ledger’s official documentation says version 3.4.1 introduced fixBatchV1_2 after developers identified security-sensitive issues involving Batch transactions. The amendment already secured validator supermajority support when the release was published and is expected to activate on Oct. 9 if that support remains intact.
XRPL developers warned that servers which fail to update to version 3.4.1 before activation could become amendment blocked and lose synchronization with the network. The release contains fixes for incorrect Batch transaction wrappers and other integer-arithmetic hardening changes.
Permission delegation is another feature moving through the XRPL amendment process. Official documentation explains that PermissionDelegationV1_1 lets an XRP Ledger account grant selected transaction permissions to another account. The revised amendment replaced an earlier version after developers discovered a critical bug.
The XRPL documentation currently warns users not to delegate the PaymentBurn granular permission until the fixCleanup3_4_0 amendment activates. Developers said that, before the fix, a delegate with that permission can under certain conditions mint fungible tokens. Other granular permissions are not affected by the warning.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
South Korean crypto traders are shifting away from payment-focused assets such as XRP toward AI-linked cryptocurrencies, with AI tokens emerging as the country’s most traded thematic crypto category by June 2026.
The shift was highlighted in a new Chainalysis report covering crypto activity in East Asia between July 2025 and June 2026. The report measures thematic categories based on their share of trading volume denominated in the Korean won.
AI Crypto Becomes South Korea’s Top Thematic CategoryAI cryptocurrencies became the most popular thematically defined investment category in South Korea by June 2026, surpassing payment tokens such as XRP.
Chainalysis defines AI cryptocurrencies as digital assets linked to AI-focused projects or AI infrastructure. The category accounted for a significantly larger share of won-denominated trading than AI crypto markets in other major currencies.
The report said AI cryptocurrencies had become the “single most popular thematically-defined investment category” in South Korea, overtaking payment tokens such as XRP.
Worldcoin Leads Korean AI Crypto TradingSeveral AI-linked tokens recorded significant trading volumes among South Korean investors during the period covered by the report.
The five leading tokens were:
Worldcoin (WLD): $7.41 billionSAHARA: $3.2 billionVIRTUAL: $2.7 billionBIO: $2 billionNEAR: $1.7 billionThe leadership within the category has also changed. VIRTUAL and KAITO were among the leading AI-related tokens in 2025 before Worldcoin and SAHARA took the lead.
Chainalysis noted that Korean retail traders are moving through the AI crypto category faster and with greater intensity than traders in other markets covered by the report.
South Korea Stands Out In AI Crypto TradingThe strength of South Korea’s AI crypto activity is particularly notable compared with other major currencies.
In June 2026, the Korean won’s AI-crypto trading share was 19.5 times higher than that of the Japanese yen. AI cryptocurrencies accounted for 0.91% of yen-denominated trading, compared with a substantially higher share in the Korean market.
The category represented 1.02% of euro-denominated trading, 0.20% of Brazilian real-denominated trading and just 0.03% of British pound-denominated trading.
Why Korean Traders Are Turning To AI CryptoChainalysis linked the rise in AI-token trading to South Korea’s broader exposure to the artificial intelligence investment cycle.
The country’s stock market has significant exposure to SK Hynix, a major memory-chip manufacturer whose products are used in AI data centers. The report noted that AI-focused crypto trading grew alongside the company’s rise.
South Korea’s crypto market is also heavily driven by retail investors. Francis Kang, executive director of Korea Blockchain Week, described the market as “famously retail-driven,” while Chainalysis noted that Korean retail investors tend to seek high-risk, high-reward opportunities.
South Korea’s Crypto Market Continues To GrowThe shift toward AI cryptocurrencies comes as South Korea’s overall crypto market continues to expand.
South Korea recorded approximately $449 billion in crypto activity during the period covered by the report, marking a 12.3% increase and making it the largest crypto market in East Asia.
The country’s exchange ecosystem also grew by 16.3%, even as the wider East Asian crypto market contracted modestly.
For XRP, the data points to a change in South Korean retail trading preferences. While XRP remains an important asset in the market, AI-linked cryptocurrencies have taken the lead among thematic categories as traders increasingly rotate toward the AI narrative.
Story Ends Here
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Bitwise Chief Investment Officer Matt Hougan has argued that XRP’s pull with certain institutional investors, especially financial advisors, rests on two plain considerations: confidence that the asset will still exist years from now, and a set of uses those advisors already recognize.
The comments appear in a video Token Relations posted on September 28, 2026, alongside a note that net assets in US XRP exchange-traded funds had climbed 80 percent through the third quarter to a record $1.77 billion. Hougan said the token “appeals for very simple reasons.”
The first, he explained, is that advisors are confident it is not going away.
Many professionals looking at crypto still ask whether the assets are genuine, whether they will last, and whether they will be around in the future. In his account, XRP’s long operating record and substantial background answer that doubt in a way newer tokens often cannot.
That distinction matters for portfolio construction. An advisor placing client money does not only weigh expected return.
The advisor also has to judge whether the holding is likely to remain a functioning market years later, when the account is reviewed, rebalanced, or passed on.
Hougan framed XRP’s history as the feature that reduces that particular uncertainty.
Belief that an asset will persist is not the same claim as a forecast that its price will rise, and his remarks did not treat price appreciation as the reason advisors are buying.
The second reason is practical familiarity. Hougan said XRP fits real-world applications advisors can already explain.
They follow stablecoins.
They follow cross-currency transfers and the liquidity required to complete those transfers.
They also follow industry news and can assess what developments in that space might mean for the broader XRP community.
Those are subjects already present in conventional market coverage, so the investment case can be discussed in language closer to payments, foreign exchange, and market plumbing than to a purely speculative token story.
XRP ETFs net assets have grown 80% throughout Q3 to an all-time high of $1.77B.@Matt_Hougan, Chief Investment Officer at @Bitwise, on what's driving institutional demand for $XRP:
"XRP appeals for very simple reasons … One is that [financial advisors] are confident it's not… pic.twitter.com/7YXqVPpOj2
— Token Relations (@TokenRelations) September 28, 2026
That framing helps explain why regulated products have become a visible channel even when short-term price action is not the main argument.
Exchange-listed funds let advisors gain exposure through brokerage accounts they already use, without building direct custody for every client.
The third-quarter jump in ETF net assets to $1.77 billion is the backdrop Token Relations used when it published the clip.
Later flow data showed that asset totals and new subscriptions can diverge once the underlying price moves, which is consistent with Hougan’s separation of durability from price performance.
Cumulative inflows across the US spot products remained large after the September 25 peak, while mark-to-market asset values eased as XRP’s market price changed.
Hougan’s firm is itself an issuer in that market.
The Bitwise XRP ETF trades on NYSE Arca and charges a 0.34 percent annual expense ratio.
Updated fund materials around the end of September kept the offering current as shares continued to be issued.
Other sponsors, including Franklin, have also gathered substantial cumulative inflows, so the advisor channel is not limited to a single product.
The remarks describe a narrow form of institutional interest.
It is not a claim that every institution is allocating, or that XRP has displaced bitcoin as the default crypto holding.
It is an account of why some advisors, once they have an exchange-listed vehicle, find XRP easier to underwrite: a long record that speaks to permanence, and applications in stablecoins, cross-currency transfer, and liquidity that they already monitor.
