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The XRP Ledger is moving beyond payments and token transfers as Clearpool, Ripple, and Cicada work on a new institutional lending market. The project could bring corporate credit onto XRPL, with loans settled in RLUSD.

Vet, the XRPL Foundation community lead and dUNL validator, says institutional “lending is coming.”

But can institutional lending also create new utility and demand for XRP, XRPL?

Clearpool Builds Credit Market With Ripple and CicadaIn a recent announcement on X, Clearpool said it is building the credit infrastructure using XRPL’s XLS-65 Single Asset Vaults and XLS-66 Lending Protocol.

Clearpool said that it;

“Institutions were never missing on-chain yield. They were missing a venue built for credit.

Therefore, its new project with Ripple and Cicada aims to address that gap by building lending infrastructure directly on XRPL.

Most on-chain credit runs on smart contracts: flexible, composable, battle-tested. XRPL takes a different path, lending as a native ledger primitive.

XLS-65 (Single Asset Vault) and XLS-66 (Lending Protocol) build the vault and the loan into the ledger itself. pic.twitter.com/WOL6HCGss7

— Clearpool (@ClearpoolFin) August 31, 2026 Cicada will handle borrower’s financial position, cash flows, and credit history before determining how much they can borrow and what rate they should pay. Borrowers and lenders will also need to pass KYC and AML checks.

Meanwhile, Ripple will provide the XRPL and RLUSD for loan payments and settlements. Ripple will also participate as a liquidity provider.

The goal is to create lending pools where vetted businesses can borrow RLUSD from institutional lenders and repay the loans with interest. 

However, these features are not live on XRPL Mainnet yet. 

Could Lending Increase XRP Utility?The immediate benefit is expected to go into XRPL, but it may also create some additional demand for XRP. Clearpool’s lending platform is expected to connect with XRPL’s native AMM, giving institutions a way to move between RLUSD and other assets.

For example, market makers providing liquidity to XRP/RLUSD pools would need to hold both XRP and RLUSD. This could increase the use of XRP within the lending ecosystem and potentially reduce some XRP from the freely traded supply.

The XRP Ledger also burns 100% of its transaction fees. Every transaction requires a small fee in XRP, and that XRP is permanently removed from circulation.

XRPL Network Activity Continues to BoomThe XRPL network is already processing around 1.09 million transactions per day, although activity has recently fallen by 42.7% from earlier monthly levels.

At the current rate, about 117.83 XRP is burned daily, while the ledger has burned around 7,680.43 XRP over the past 30 days.

These numbers show that XRPL already has strong network activity and a built-in XRP burn mechanism. However, the planned lending market is still under development, so it is too early to say how much additional XRP demand it could create.

For now, the key development is that institutional credit is being built directly around XRPL’s native features, potentially giving the network another major financial use case.

Story Ends Here

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Three changes just hit the 21Shares Ethereum ETF and its four sister funds for Bitcoin, XRP, Dogecoin, and Polkadot. New SEC filings show new fund names, a new pricing source, and a new fee schedule.

Holders keep the same shares. Behind the label, however, the products start working differently on Thursday.

The three changes hitting 21Shares’ five US crypto funds this week. Source: BeInCryptoStaking Moves Into the Ethereum ETF’s NameStart with the names. On August 25, 21Shares renamed two funds in Delaware. The 21Shares Ethereum ETF became the 21Shares Ethereum Staking ETF. The Polkadot (DOT) fund became the 21Shares Polkadot Staking ETF. Five 8-K filings published this week confirmed the changes.

Not every fund got a new name. The Bitcoin (BTC) fund, run with Cathie Wood’s ARK Invest, stays ARKB. The XRP and Dogecoin (DOGE) funds keep their names too.

The Ethereum fund has staked its ether since earlier this year and publishes a reward schedule. So the rename changes the label, not the machine. Yield is now the headline feature, written into the product’s legal name.

That label matters because the yield race is crowding fast. BlackRock launched a separate staked fund, ETHB, on February 18. Its original spot fund, ETHA, still does not stake. Fidelity went further on August 10. It filed to stake FETH’s ether and pay holders quarterly cash. Investors keep 85% of those rewards, while fees take the rest.

Big money has noticed. Intesa Sanpaolo, Italy’s largest bank, cut its Bitcoin fund stake by 94% last quarter and tripled its staked-Ethereum position. Recent flow data tells the same story. Buyers are chasing yield over price.

New FTSE Pricing and Quarterly Fees Land ThursdayThe second change is the price feed. From Thursday, August 27, all five funds will value shares using FTSE indices. FTSE Russell is the London Stock Exchange Group arm behind the Russell 2000.

The switch follows 21Shares ending its CF Benchmarks license. Those CME-branded rates expire for the funds on August 31.

That is a quiet break from an industry standard. CF Benchmarks’ rates still anchor IBIT, BlackRock’s giant Bitcoin fund. Even ETHB, BlackRock’s staked fund, prices against a CME CF rate. The benchmark sets each fund’s daily net asset value, so the switch touches every holder’s statement.

The third change is fees. 21Shares will now collect its sponsor fee at least quarterly instead of weekly. Payment stays in coins, from Bitcoin to DOT.

One caution belongs next to the shiny new names. Staked ether can take weeks to exit a crowded withdrawal queue, a gap raised around Morgan Stanley’s Ethereum ETP. Thursday’s flows will show whether yield on the label wins the money.

TLDR Table of Contents

Mastercard will sponsor the XRP Ledger Hackathon on October 24–25, ahead of Ripple Swell 2026. The hackathon will focus on building payment-related projects using the XRP Ledger network. Mastercard has expanded its crypto partnerships this year, including work involving Ripple, Circle, Binance, Gemini, PayPal, and Paxos. 21Shares changed the pricing benchmark for its XRP ETF, TOXR, from CME Group to the FTSE XRP Index. TOXR’s sponsor fee will now be paid quarterly instead of weekly, with payment made in XRP. Spot XRP ETFs recorded $13.82 million, about $24 million, and more than $28 million in daily inflows this week. The XRP Ledger (XRPL) is gaining fresh attention ahead of Ripple Swell 2026 after Mastercard joined an upcoming developer event. The move comes as 21Shares also changed how its XRP ETF tracks the token.

Both developments arrive as U.S. spot XRP ETFs continue to record new inflows. The activity links payment industry interest with growing demand for regulated XRP investment products.

Mastercard Backs XRP Ledger Hackathon The XRP Ledger Foundation said Mastercard will sponsor the XRP Ledger Hackathon on October 24 and 25. The 36-hour event will take place just before Ripple Swell 2026, which runs from October 27 to October 29.

Developers will build payment-focused projects and meet companies working with the network. The foundation said the XRP Ledger offers a tested structure for payment use cases and invited developers to register for the event.

Mastercard has expanded its work with crypto companies during 2026. In March, the payments company joined a program with Binance, Gemini, PayPal, Paxos, Circle, and Ripple to connect blockchain services with its global payments network.

The company widened that effort in June by adding support for more blockchain-based assets. Those additions included Ripple’s RLUSD stablecoin and Circle’s USDC, extending Mastercard’s role across digital payment infrastructure.

21Shares Changes XRP ETF Pricing A U.S. Securities and Exchange Commission filing showed that 21Shares changed the pricing benchmark for its XRP ETF, TOXR. The fund moved from CME Group pricing to the FTSE XRP Index, effective August 27.

21Shares also changed how often it pays the fund sponsor. Payments will now occur every three months instead of weekly, and the sponsor will receive the fee in XRP.

Spot XRP ETFs continued to attract capital this week. The funds recorded $13.82 million on Monday, about $24 million on Tuesday, and more than $28 million on Wednesday.

TOXR remains the only XRP ETF with negative cumulative flows at $20.06 million in net outflows. Bitwise’s XRP ETF leads the group with about $575 million in cumulative net inflows. The latest figures show demand remains concentrated among the larger funds in the market.

TLDR: XRP gained 39% since August 18 while Binance exchange reserves stayed nearly flat overall. Long liquidations hit $25.7 million on August 22, the largest single day over the past six months. Funding rates cooled from 0.010 to 0.002 across three sessions as open interest fell 13% from its peak. Total XRP transactions rose 97% to 2.93 million daily, but transfers to exchanges collapsed. XRP traded at $1.396 on August 29, marking a notable shift in market structure. The token sits roughly 39% above the $1.00 level it held through August 18, though still about 8% below its recent high of $1.520 on August 23.

Binance open interest for XRP peaked near $558 million during that session before easing to $483 million. The rally appears driven by derivatives activity rather than exchange supply movement, based on recent on-chain data.

Leverage Fuels the Move While Exchange Supply Stays Quiet Funding rates for XRP averaged 0.006 over the recent stretch, well above the quarterly baseline. The estimated leverage ratio climbed to 0.193, close to the six-month maximum of 0.213. That combination points to derivatives traders, not spot sellers, powering the recent repricing.

Long liquidations rose sharply alongside the rally. They averaged $4.34 million, up 222% week over week. A single session on August 22 saw $25.7 million in long liquidations, the largest of the six-month window.

Source: Cryptoquant

That liquidation spike came on a day when the price closed higher. Rising prices alongside rising long liquidations usually signal crowded positions being cleared within an uptrend. It does not typically signal a reversal against the trend.

Exchange data tells a separate story. Binance inflows averaged 136,319 XRP over the past week, while outflows averaged 298,660 XRP. Both figures are near 2% and 4% of their six-month averages, a sharp drop from typical activity levels.

Deposit addresses on Binance fell to 45, a 91% decline versus the quarterly baseline. The exchange reserve itself barely moved, up just 0.04% week over week to $2.618 billion. Holders appear to be sitting still rather than preparing to sell.

On-Chain Activity Expands as Traders Watch Support Levels Total XRP transactions rose to 2.93 million daily, up 97% versus the quarterly average and near a six-month high. Network usage expanded even as coins avoided exchange-bound transfers. NVT climbed 44% week over week alongside that activity increase.

Funding has already started cooling, dropping from 0.010 to 0.002 across three sessions. Open interest is down 13% from its recent peak. Leverage is unwinding while spot supply continues to stay off exchanges.

This setup has historically preceded one of two outcomes for XRP. Either a base-building phase emerges once positioning normalizes, or a faster retracement follows if exchange reserves begin climbing again. The direction likely depends on which side dominates first.

Retail sentiment on social platforms reflects a similar wait-and-see posture. Analyst Diana (@InvestWithD) pointed to the $1.38 area as a key Fibonacci support zone tied to a broader Elliott Wave count.

🚨 $XRP IS SITTING DIRECTLY ON THE ~$1.38 SUPPORT — AND THE NEXT ELLIOTT WAVE TARGETS POINT TO $1.88 → $4.11 → $7.07 🤯🔥$XRP has pulled back from its recent ~$1.70 spike and is now trading around $1.40, almost exactly where the chart identifies the $1.3798 Fibonacci support.… https://t.co/K8h3rOXLuB pic.twitter.com/b53dav8qgv

— Diana (@InvestWithD) August 30, 2026

The post noted that a 4-hour RSI reading near 47.5 had moved back above its signal line, suggesting early momentum shifts near support rather than during an overbought run.

Price action around that support level may determine whether XRP builds a new base or slips toward lower levels in the sessions ahead. Traders appear to be watching exchange reserve trends closely for the next signal.

Ripple has advanced further into traditional finance with a $275 million private bond sale conducted by Ripple Prime, as reported by crypto researcher BankXRP. This move signals Ripple’s increasing integration with institutional capital markets and sheds light on the company’s evolving brokerage operations.

Ripple Prime’s $275 Million Bond IssuanceBankXRP shared that Ripple Prime, which was formerly known as Hidden Road before Ripple’s $1.25 billion acquisition, completed the bond sale with an annual coupon rate of 8.25% and a maturity set for 2031. The researcher noted that Kroll assigned the firm a BBB credit rating, representing the first time a crypto-owned broker-dealer has achieved investment-grade status.

The financing allows Ripple Prime to access debt capital while developing its credit profile. A Bloomberg screenshot linked to the discussions identified Ripple Prime CIV US BD Holdco LLC as a special purpose entity responsible for issuing debt securities. According to the entity’s description, the proceeds will be used to refinance existing credit facilities, support future acquisitions, and manage outstanding debt.

BankXRP emphasized the BBB rating from Kroll, describing it as a milestone for crypto companies making inroads into institutional finance. The business structure and bond terms underscore Ripple Prime’s growing connections to traditional debt markets while maintaining its activity within the digital asset sector.

The reported $275 million bond sale by Ripple Prime, with an 8.25% coupon and BBB rating from Kroll, marks the first investment-grade classification for a broker-dealer owned by a crypto company.

Key Terms: 8.25% Coupon, 2031 Maturity, BBB RatingThe 8.25% coupon reflects the annual interest rate investors will receive on the bonds, while the maturity date of 2031 sets the horizon for repayment of principal. These terms are regarded as evidence of Ripple Prime’s entry into conventional fixed-income markets while retaining a foundation in digital assets.

The BBB rating has attracted particular interest from analysts and the crypto community. Blue highlighted questions over whether Ripple Prime required the entire $275 million immediately or if securing a credit rating was equally important for the company’s strategic development. The investment-grade rating is seen as a step that could encourage further participation from institutional investors in the sector.

Lily Lam commented on the implications of obtaining a BBB rating, noting its importance for the credibility of crypto broker-dealers, but also expressed concern about the cost of financing at an 8.25% rate extending to 2031. She further questioned whether Ripple Prime would release detailed financial statements, pointing to broader transparency expectations among investors.

Questions remain over Ripple Prime’s future financial disclosure and whether establishing a robust credit rating will translate into additional transparency for stakeholders.

Market Context and Digital Asset Platform ToolsThe activity surrounding Ripple’s bond issuance has occurred in a market environment where sudden moves, such as shifts in Fed policy or new altcoin listings, can alter investor sentiment in seconds. As trading decisions must often be made in real-time, many investors are moving toward unified portfolio management solutions. Smart traders now rely on privacy-focused platforms like CryptoAppsy, which combine real-time charts, automated alerts, curated news, and crucial macroeconomic data onto a single interface—without requiring users to create an account.

Ripple Prime’s recent capital raise, in parallel to broader trends toward institutional-grade infrastructure, highlights both the maturation of crypto companies and the increasing importance of efficient decision-making tools for investors navigating volatile markets.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Ripple (XRP) surged more than 72% in less than a week, its strongest rally since July 2025, as cryptocurrency prices broadly broke out. But the move has a problem: it may have little to do with XRP itself.

The token's near-term rally appears to have been driven largely by a broader liquidity shift after the US Treasury expanded long-end bond buybacks, pulling yields lower and lifting risk assets. XRP, with more beta than Bitcoin, was one of the biggest beneficiaries.

That leaves XRP at a critical point. The token is holding near $1.50 after touching $1.70, but the rally alone doesn’t confirm that the long-awaited bottom is in. A sustained move above $2.00 would strengthen the case for a structural recovery, while failure to hold recent gains could expose XRP to another correction.

"XRP's near-term path is likely to keep tracking the broader altcoin complex rather than break out on a story of its own. This week's rally has a macro root – the Treasury's move to expand long-end bond buybacks pushed yields down and lifted risk assets broadly, and altcoins simply carry more beta to that kind of liquidity injection than Bitcoin does," Iliya Kalchev, Nexo Dispatch Analyst, highlighted in an exclusive comment to FXStreet.

Ripple ecosystem expansionRipple continues to make headlines with its global regulatory and partnership milestones, backed by the deployment of approximately $4 billion in strategic capital.

The blockchain company has strategically developed a robust ecosystem by acquiring prime brokerage capabilities, modern treasury management systems (TMS), instant stablecoin payments infrastructure, and institutional-grade custody solutions.

In late October 2025, Ripple executed a series of strategic acquisitions: Hidden Road ($1.25 billion, rebranded as Ripple Prime), GTreasury ($1 billion), and Rail ($200 million), further strengthening its institutional offering. Other acquisitions include Metaco, Palisade and Standard Custody & Rail.

Concurrently, Ripple secured more than 60 regulatory licenses and permits worldwide, achieving milestone approvals in the Europe Union’s (EU) Markets in Crypto-Assets Regulation (MiCA), Luxembourg’s Electronic Money Institution (EMI) license approved by the country’s Commission de Surveillance du Secteur Financier (CSSF) as well as other compliance licenses in the Asia Pacific (APAC), the Middle East and Africa regions, as stated in various press releases and policy briefings.

"However, investors should stop treating every Ripple acquisition, license or partnership as automatically bullish for XRP. The token only captures value when institutions need to hold it, source liquidity through it or use it repeatedly for settlement," Ryan Kirkley, Co-founder & CEO of Global Settlement Network, said in a written comment to FXStreet.

Ripple’s expansion gives XRP more opportunities to prove its utility. It does not guarantee that utility, and it certainly does not guarantee price appreciation.

Ripple Payments and the shift to multi-asset railsRipple Payments has evolved over the years from the former On-Demand Liquidity (ODL) to a product with a worldwide presence. The platform offers institutional-grade custody, fiat and stablecoin rails and other digital assets, including Ripple USD (RLUSD) and XRP.

“Ripple’s compliance build-out is substantial and hard to replicate quickly: more than 60 regulatory licenses globally, full MiCA authorization across the entire EU economic bloc, a new Middle East and Africa hub in Dubai, and a cleared US legal case, on top of capital commitments like the $1.25 billion Hidden Road acquisition. That gives XRP a genuine structural advantage a new entrant can’t shortcut overnight,” Kalchev added.

Despite Ripple’s compliance powerhouse, partnerships and acquisition spree, experts appear to differ on whether ecosystem developments translate to utility for XRP and growth in the token’s value.

Dean Chen, Bitunix analyst, sees long-term value in XRP, suggesting partial allocation in portfolios. Still, Chen cautions investors to temper expectations and assess how much value the token can capture from Ripple’s growing ecosystem, given varying global liquidity conditions.

“Ripple’s ecosystem expansion is clearly positive for XRP, but Ripple’s commercial success and XRP’s investment value are not necessarily equivalent. Growth in cross-border payments and institutional adoption can create more use cases for XRP, but the key question is whether that activity translates into sustained demand and effective value capture for the token,” Chen told FXStreet.

Ripple’s stablecoin, RLUSD, could steal the limelight from XRP, as it appeals to institutional investors looking to avoid crypto-related volatility while offering a regulated platform.

Ripple's ultimate test would be to create a symbiotic relationship between the expanding ecosystem and XRP to ensure long-term growth.

Shawn Young, Chief Analyst at MEXC Research, told FXStreet that “If that growth leads banks and liquidity providers to hold and use more XRP, the token has a much stronger case. If most of it runs through RLUSD, other stablecoins, or infrastructure that barely touches XRP, investors should not expect Ripple’s success to automatically show up in the token price.”

XRP outlook improves on renewed on-chain activityA closer examination of activity on the XRP Ledger (XRPL) shows renewed user participation. Addresses that transact on the protocol, either by receiving or sending value, have recently surged, peaking at roughly 305,000 on Sunday, up from around 25,000 on August 1, according to Santiment.

The surge in on-chain activity reinforces an improving fundamental outlook and raises the probability of an extended recovery as demand for XRP gains momentum.

XRP Active Addresses | Source: SantimentStill, the number of addresses joining the network has remained subdued this year. Newly created addresses on the XRPL averaged 475 on Sunday, down from roughly 4,100 on Saturday and 6,600 in late June. This suggests fewer new users are joining the protocol, which could translate to lower demand for XRP and, in turn, limit potential recovery.

XRP Network Growth | Source: SantimentThe amount of XRP balances on known exchanges has declined, averaging 2.61 billion XRP as of Sunday, from 2.63 billion XRP on Saturday. This figure falls significantly below the annual peak of 2.81 billion XRP, recorded in early March.

The correction shows XRP is gradually moving off Binance, as investors choose self-custody platforms for long-term holding. Notably, declining exchange reserves suggest reduced immediate available sell-side supply.

XRP Binance Exchange Reserve | Source: CryptoQuantUS-listed XRP spot Exchange-Traded Funds (ETFs) have also supported the bullish case, recording six consecutive weeks of inflows and lifting cumulative net inflows to $1.55 billion.

XRP derivatives market coolsThe XRP derivatives market remains significantly elevated compared to levels seen at the beginning of the year. According to CoinGlass, perpetual futures Open Interest (OI) stands at 2.5 billion XRP on Monday, up only marginally from 2.42 billion XRP the previous day. Looking back, OI averaged 1.84 billion on January 1, underscoring growing risk-on sentiment.

XRP Futures OI | Source: CoinGlassStill, investors should temper expectations, as OI has narrowed over the past few days to 2.78 billion as of August 15. A steady increase in futures OI is required to support XRP’s short to medium-term recovery.

After trading volume surged and peaked at $18.53 billion on Saturday, it has moderated to $9.32 billion at the time of writing. This could suggest that investors are gauging prevailing market conditions and whether they can sustain last week’s 72% rally from $1.00 to $1.70. 

Technical outlook: Is XRP’s bullish comeback sustainable?The remittance token's current position around $1.51 holds above notable levels including $1.50 and $1.25, underscoring renewed risk appetite. Nonetheless, it remains unclear whether that rally is sustainable or temporarily driven by liquidity and last week's US Treasury’s open-market buybacks.

The pair holds above the 200-week Exponential Moving Average (EMA) at $1.37, supporting a medium-term constructive tone, but it remains capped by the 50-week EMA at $1.55 and the 100-week EMA at $1.60, keeping the near-term bias neutral as those barriers hold overhead.

At the same time, the Moving Average Convergence Divergence (MACD) indicator sits above zero with a positive reading, and the Relative Strength Index (RSI) near 57 suggests moderately bullish momentum, yet these signals only hint at upside potential that would need a weekly close above the clustered EMAs to gain traction.

XRP/USDT weekly chartImmediate resistance lies at the 50-week EMA at $1.55, followed by the 100-week EMA at $1.60, where a break higher would open the way for a more decisive bullish extension. The current price area around $1.50 acts as a pivot, with stronger structural support emerging at the 200-week EMA at $1.37 and then the SuperTrend baseline at $0.96, levels that would be expected to attract buyers on deeper pullbacks while the broader uptrend attempt remains in place.

Still, momentum is stretched, with the RSI hovering in overbought territory near 86 on the daily chart and the MACD above zero, suggesting strong but potentially overextended upside pressure.

XRP/USDT daily chartOn the downside, initial support lies at the 200-day EMA around $1.35, ahead of the SuperTrend zone near $1.25, which marks the next technical floor if a deeper correction unfolds. Below that, the 50-day and 100-day EMAs clustered between $1.14 and $1.18 hint at additional underlying demand, where buyers could look to re-enter if the pair unwinds part of its recent gains.

Ultimately, it is impossible to time a bottom; investors should closely monitor the token and watch for new trends forming from extended sideways action to steady price increases, which could help identify strong support levels. Last week's surge marked XRP's strongest week since July 2025. However, profit-taking remains an overhang risk that could trigger a short-term correction as XRP seeks liquidity before the next breakout. Looking down, the region between $1.00 and $1.25 is a critical support area that will likely continue to absorb selling pressure.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Ripple FAQs Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.

XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.

XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.

XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRP’s blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.

XRP gained more than 50% in five trading days, its strongest weekly performance in 21 months, as a Treasury buyback expansion, a White House crypto summit, and aggressive whale accumulation converged on the same narrow window.

Summary

XRP surged from approximately $1.00 on Aug. 18 to a high of $1.6963 on Aug. 22, 2026, a gain of roughly 56% that marks its biggest weekly move since November 2024. The U.S. Treasury doubled long-term bond buyback operations from $2 billion to at least $4 billion per session, triggering a rapid drop in benchmark yields and pushing capital into risk assets across crypto markets. Ripple CEO Brad Garlinghouse attended a White House crypto policy summit on Aug. 19 alongside SEC Chairman Paul Atkins, advancing the CLARITY Act that would classify XRP as a digital commodity under CFTC oversight. Whale addresses holding between 1 million and 10 million XRP accumulated approximately 380 million tokens in one week, pushing tracked holdings from 16.05 billion to 16.36 billion XRP while exchange outflows exceeded 240 million tokens since summer began. Spot XRP ETFs attracted $39.78 million in net inflows for the week ending Aug. 22, bringing cumulative inflows since their November 2025 launch to $1.55 billion across seven approved funds. XRP closed the week of Aug. 18 as the best-performing asset among the top ten cryptocurrencies by market capitalization, beating Bitcoin by more than 40 percentage points and Ethereum by more than 45. The move was not a single-catalyst spike. It was a compressed sequence of macro, regulatory, and on-chain events that landed in the same five-day window, each one reinforcing the next. Understanding why each catalyst mattered, and why their convergence produced a move of this magnitude, requires looking at the specific mechanics of how they interacted.

The rally also marks the first sustained price advance since the SEC settlement that correlates with improving on-chain metrics rather than pure speculation. For seven months before this week, XRP traded between $0.90 and $1.10 while Ripple’s corporate fundamentals strengthened in the background. The disconnect between token price and business development had become one of the most discussed topics in crypto markets. That gap narrowed sharply over five days.

The Treasury buyback that unlocked the rally The catalyst that set everything in motion arrived on Aug. 19, when Treasury Secretary Scott Bessent announced an expansion of long-term government bond buyback operations. The size of each buyback would double from $2 billion to at least $4 billion per operation, starting Sept. 9. The announcement came after the 30-year Treasury yield spiked to its highest level since 2007, a move that had been pressuring risk assets across every market for weeks.

Buying back bonds pulls supply off the market, pushing bond prices up and yields down. The 30-year yield fell to 5.19% within hours. Traders described the dynamic as informal yield curve control, since the buybacks effectively cap how high long-end yields can climb without the Federal Reserve having to intervene directly.

The effect on crypto was immediate. Bitcoin jumped from $62,000 to $69,000 within 48 hours, its biggest weekly gain in two years. But the impact on XRP was disproportionate. More than $3 billion in crypto short positions were liquidated during the surge, and XRP’s lower market capitalization relative to Bitcoin made it more sensitive to the rotation. Leveraged short sellers who had been betting on a continued grind below $1 were forced to cover, and the resulting squeeze amplified the underlying move.

Lower yields make bonds less attractive relative to riskier assets, which frees capital to rotate into high-beta positions. XRP, with its pending regulatory catalysts and recent technical weakness, became the primary beneficiary of that rotation among large-cap altcoins.

The White House summit and the CLARITY Act On the same day the Treasury buyback was announced, a separate catalyst emerged from Washington. The White House hosted a crypto policy summit attended by Ripple CEO Brad Garlinghouse, SEC Chairman Paul Atkins, and members of Congress who had co-sponsored the CLARITY Act. President Trump publicly urged Congress to pass the legislation, which would classify XRP and similar tokens as digital commodities under CFTC oversight rather than securities under the SEC.

The CLARITY Act represents the most significant potential shift in U.S. crypto regulation since the Ripple settlement itself. If passed, it would give XRP the same regulatory classification as Bitcoin and Ethereum, removing the last remaining ambiguity about its legal status. The crypto.news analysis of the three conditions for XRP’s recovery identified regulatory clarity as the single most important factor, with 65% of institutional allocators surveyed saying they need this classification before increasing crypto exposure.

The bill faces a Senate procedural vote on Sept. 15. Polymarket prediction contracts currently give it approximately 16% odds of passing, reflecting the difficulty of moving any legislation through Congress in the current political environment. But the market responded to the optics of the summit itself, not the probability of passage. Brad Garlinghouse standing alongside the SEC chairman and the president, discussing a bill that would formalize XRP’s commodity status, sent a signal about the direction of policy that no probability model fully captures.

XRP price jumped roughly 30% in two days following the summit, breaking a year-long downtrend in the process. The move took the token from $1.00 to $1.31 before the additional catalysts pushed it higher.

Whale accumulation and the exchange drain The on-chain data tells a story that started before the price moved. According to crypto.news reporting on whale accumulation, addresses holding between 1 million and 10 million XRP accumulated approximately 380 million tokens over the week of Aug. 18. Total whale holdings rose from roughly 16.05 billion to 16.36 billion XRP, the highest level since the SEC settlement.

The accumulation was not limited to a single cluster of wallets. Whale transactions on the XRP Ledger surged 280% in 24 hours, with 38 large-value transfers exceeding $1 million recorded in a single trading day. The baseline for large-value XRP transactions in July and early August had averaged roughly 10 to 12 per day, making the spike to 38 a clear departure from normal activity.

More telling than the buying itself was the absence of selling. Whale transfers to Binance fell to their lowest level since 2021 during the same period, suggesting that large holders were accumulating and holding rather than flipping for short-term profit. More than 240 million XRP tokens left exchanges since summer began, reducing the available supply on order books and tightening the market.

The wallets involved in the accumulation include a mix of known institutional custodians and unidentified addresses. Analyst Ali Martinez noted that the accumulation pattern resembles the pre-rally positioning seen before XRP’s January 2026 high of $3.40, when whale addresses added similar quantities before the token rallied from $2.00 to its peak.

Ripple’s own escrow activity adds context. In August 2026, Ripple unlocked 1 billion XRP from escrow, valued at approximately $1.08 billion under its monthly program. Despite this regular supply injection, whale accumulation outpaced the new supply reaching the market, a dynamic that had not occurred since early 2025.

Spot ETF inflows and institutional re-engagement The seven U.S. spot XRP ETFs approved since November 2025 had a complicated first year. After a strong launch that saw them accumulate $1.3 billion in assets within two months, inflows collapsed through the summer. Weekly ETF inflows fell 93% to just $1.01 million for the week ending Aug. 8, down from $14.86 million the prior week. JPMorgan had predicted up to $8 billion in year-one inflows. The reality was $1.5 billion across eight months.

The week of Aug. 18 reversed that trajectory. Spot XRP ETFs attracted $39.78 million in net inflows, the strongest weekly pace since May. Bitwise Asset Management, Franklin Templeton, and Grayscale Investments led the buying. Cumulative inflows since launch reached $1.55 billion, with the funds now holding approximately 1.50% of total XRP supply.

The crypto.news coverage of ETF inflows crossing $1.55 billion noted that the timing aligned with a shift in macro sentiment following the Treasury buyback announcement. Institutional buyers who had paused allocations during the yield spike returned as soon as yields dropped, suggesting that the problem with XRP ETFs was never demand for the asset itself but the competing returns available in fixed income.

The ETF structure also matters for price mechanics. Unlike over-the-counter XRP purchases, ETF inflows require the fund to buy XRP on the open market or through authorized participants, creating direct buying pressure on the spot price. When $39 million in weekly inflows meets a market where 240 million tokens have already left exchanges, the price impact is amplified beyond what the dollar figure alone would suggest.

How this rally compares to every post-settlement XRP move XRP has produced four distinct rallies since the SEC settlement was finalized in May 2025. Each one differed in catalyst, duration, peak gain, and retracement depth. Mapping them reveals a pattern that this week’s move both follows and breaks.

Rally one: the settlement itself (May 2025). XRP jumped 42% in three days after the SEC formally withdrew its appeal and Ripple paid the reduced $50 million penalty. The catalyst was purely legal. On-chain accumulation was minimal because the news broke with no advance warning. The retracement was fast: XRP gave back 60% of the gain within two weeks as traders took profit on the news.

Rally two: the ETF approval wave (November 2025). Seven spot XRP ETFs received regulatory clearance, and XRP surged 85% over three weeks. This was the longest sustained move of the cycle, driven by genuine institutional inflows that totaled $483 million in December alone. The retracement was slower but deeper. XRP fell 65% from its January 2026 high of $3.40 to the $1.00 level it occupied before this week’s move.

Rally three: the Ripple Prime announcement (June 2026). Ripple announced conditional approval for a national trust bank charter and raised at a $50 billion valuation. XRP gained 28% in five days. The retracement was almost complete within ten trading sessions, as the market concluded that corporate milestones were not translating into token demand.

Rally four: this week (August 2026). XRP gained 56% in five days, making it the second-largest post-settlement move by magnitude. What distinguishes it from the previous three is the convergence of multiple catalyst types. The settlement rally was legal only. The ETF rally was institutional only. The Ripple Prime rally was corporate only. This week combined macro (Treasury buyback), political (White House summit), on-chain (whale accumulation), and institutional (ETF inflows) catalysts simultaneously.

The convergence matters because it creates feedback loops that single-catalyst rallies cannot sustain. Macro-driven yield drops pull capital into crypto broadly. Political catalysts direct that capital specifically toward XRP. Whale accumulation reduces available supply. ETF inflows create structured buying pressure. Each factor reinforces the others, making the rally more durable than moves driven by a single headline.

Whether this convergence produces a genuinely different outcome from the previous three rallies, all of which eventually retraced, is the central question for XRP holders heading into September.

The overbought signal and what it has meant before The Relative Strength Index on XRP’s daily chart reached 85.4 on Aug. 22, its most overbought reading since July 2025. The last time the RSI crossed 85, XRP retraced 18% within ten trading days. In three of the four previous instances where XRP’s RSI exceeded 80 since the SEC settlement, the token lost at least 15% of its value within two weeks.

The technical picture is further complicated by the death cross that formed earlier in August. The crypto.news analysis of the death cross erasure explained that while XRP’s daily candle closed above both the 50-day and 200-day exponential moving averages for the first time since the bearish crossover, the 50-day EMA remains below the 200-day line. A confirming golden cross has not yet formed.

The distinction matters because three previous breakouts above both moving averages failed to produce a golden cross, each time resulting in a return below the 200-day EMA within five trading days. The current move needs to hold for at least another week before the moving average crossover would confirm a genuine trend change.

A weekend flash crash on Aug. 22 added to the uncertainty. Approximately $500 million in XRP long positions were liquidated in minutes when the price dropped sharply from $1.69 to $1.43 before recovering to the $1.46 to $1.51 range where it traded into Saturday. The event showed how quickly leveraged positions can unwind even in the middle of a strong rally, and it reduced open interest enough to partially reset the overbought condition.

Ripple’s corporate momentum and the token disconnect The irony of XRP’s 2026 performance is that Ripple the company has never been stronger. The SEC case ended with XRP retaining full trading rights in the United States. Seven U.S. spot ETFs launched and now hold nearly a billion dollars in XRP. Ripple secured conditional approval for a national trust bank charter. The company raised at a $50 billion valuation. It spent roughly $4 billion on acquisitions. Most recently, Ripple Prime raised $275 million through a private placement of senior unsecured notes with a BBB rating from KBRA, an 8.25% coupon, and a 2031 maturity date.

Yet XRP the token spent the first seven months of 2026 trading between $0.90 and $1.10 while all of this happened. The crypto.news XRP price prediction page noted the base case of $1.80 to $3.20 by 2030, a range that assumed slow and steady appreciation from the $1.00 level. This week’s move has compressed months of expected appreciation into days.

The token’s disconnect from Ripple’s fundamentals is partly structural. XRP’s supply dynamics differ from tokens like Bitcoin or Ethereum. Ripple holds billions of XRP in escrow and releases them monthly, creating a persistent supply overhang that weighs on price even when demand increases. The monthly escrow release of 1 billion XRP in August alone exceeded the total whale accumulation for the entire week. The net effect on circulating supply depends on how much Ripple returns to escrow, a figure the company reports quarterly but not in real time. In previous months, Ripple has returned between 800 million and 900 million tokens to escrow, meaning the net new supply reaching the market each month is typically between 100 million and 200 million tokens. Even at the lower end of that range, the monthly supply addition partially offsets the accumulation pressure from whale buyers.

Ripple Prime’s integration with EDX Markets and Hyperliquid to expand institutional access to spot, perpetual futures, and decentralized liquidity creates new demand channels that did not exist during the first three post-settlement rallies. Whether these channels can absorb enough supply to offset the escrow releases is one of the structural questions that will determine whether this rally holds.

The CLARITY Act as a binary event The Senate procedural vote on the CLARITY Act scheduled for Sept. 15 creates a binary event risk for XRP that has no parallel in the token’s history. If the bill passes cloture and eventually becomes law, XRP would receive the same commodity classification as Bitcoin and Ethereum, removing the final barrier to full institutional adoption. If it fails, the market would need to reprice the probability of regulatory clarity arriving through legislation versus the current patchwork of court rulings and agency guidance.

The bill’s passage is far from certain. Polymarket gives it approximately 16% odds, and the Senate procedural calendar is crowded. But the White House summit on Aug. 19 moved the conversation from theoretical to operational. The presence of the SEC chairman at a meeting dedicated to advancing the bill suggests coordination between the executive branch and the regulatory agencies that would implement it.

For XRP specifically, the CLARITY Act would resolve the last remaining ambiguity from the Ripple settlement. While courts ruled that XRP traded on secondary markets did not constitute a securities transaction, certain institutional sales remained subject to securities law considerations. The CLARITY Act would eliminate that distinction entirely, making XRP legally identical to Bitcoin for regulatory purposes.

The market appears to be pricing in a higher probability of passage than the prediction markets suggest, or at least pricing in the optionality that the political environment has shifted enough to make some form of regulatory clarity likely within the next 12 months, whether through this specific bill or an alternative path.

https://twitter.com/cryptodotnews/article/2061436021380661610

What to watch The 200-day EMA retest. A daily close below the 200-day exponential moving average within five trading days would repeat the pattern of three previous failed breakouts and signal that the rally was a short squeeze artifact.

Weekly ETF flow data for the week ending Aug. 29. If inflows sustain or accelerate from the $39.78 million recorded this week, it would confirm that institutional demand is genuine and not a one-week reaction to macro headlines.

The Sept. 15 CLARITY Act cloture vote. The vote itself is binary, but the political dynamics in the weeks leading up to it will shape expectations. Watch for co-sponsor additions or withdrawals as a leading indicator.

Exchange reserve levels. If the drawdown of 240 million tokens from exchanges since summer continues or accelerates, it would tighten supply further and support the price. A reversal, with tokens flowing back to exchanges, would suggest whale profit-taking.

The 30-year Treasury yield. The yield fell to 5.19% after the buyback announcement. If it climbs back above 5.50%, the macro tailwind that triggered the rally would weaken, and the rotation into risk assets could reverse.

Why did XRP surge 50% in one week? XRP gained approximately 56% between Aug. 18 and Aug. 22, 2026, driven by a convergence of four factors: the U.S. Treasury doubling bond buyback operations, a White House crypto summit advancing the CLARITY Act, whale accumulation of 380 million tokens in a single week, and $39.78 million in spot ETF inflows. The combination created feedback loops that amplified the move beyond what any single catalyst could produce.

What was the Treasury buyback and why did it affect XRP? Treasury Secretary Scott Bessent announced that long-term bond buyback operations would double from $2 billion to at least $4 billion per session starting Sept. 9. The buybacks pulled supply off the bond market, pushing yields down and freeing capital to rotate into risk assets including crypto. The 30-year yield fell to 5.19% within hours, triggering more than $3 billion in crypto short liquidations.

How much XRP did whales accumulate during the rally? Addresses holding between 1 million and 10 million XRP accumulated approximately 380 million tokens over the week of Aug. 18, according to on-chain tracking data. Total whale holdings rose from 16.05 billion to 16.36 billion XRP. Additionally, whale transactions exceeding $1 million surged 280% in 24 hours, with 38 large-value transfers recorded in a single trading day.

Is the XRP rally sustainable given the overbought RSI? The Relative Strength Index reached 85.4 on Aug. 22, the most overbought reading since July 2025. In three of four previous instances where XRP’s RSI exceeded 80 since the SEC settlement, the token retraced at least 15% within two weeks. However, the convergence of multiple catalyst types in this rally makes direct comparison to single-catalyst moves incomplete.

What is the current status of XRP spot ETFs? Seven U.S. spot XRP ETFs have been trading since November 2025, with issuers including Bitwise, Franklin Templeton, Grayscale, 21Shares, Canary Capital, and Volatility Shares. Cumulative net inflows have reached $1.55 billion, with the funds holding approximately 1.50% of total XRP supply. The week ending Aug. 22 saw $39.78 million in inflows, the strongest weekly pace since May.

What is the CLARITY Act and when is the vote? The CLARITY Act is proposed legislation that would classify XRP and similar tokens as digital commodities under CFTC oversight. A Senate procedural vote is scheduled for Sept. 15, 2026. Polymarket prediction contracts give it approximately 16% odds of passing. If enacted, it would give XRP the same regulatory classification as Bitcoin and Ethereum.

How does this rally compare to previous XRP moves since the SEC settlement? This is the second-largest post-settlement rally by magnitude (56%) and the first to combine macro, political, on-chain, and institutional catalysts simultaneously. The settlement rally (May 2025) was legal only, the ETF wave (November 2025) was institutional only, and the Ripple Prime rally (June 2026) was corporate only. Each previous rally eventually retraced between 60% and 100% of its gains.

What is XRP’s current price and market capitalization? As of Aug. 23, 2026, XRP trades near $1.46 to $1.51, with a total market capitalization of approximately $91.5 billion. It ranks among the top five cryptocurrencies by market cap. The 24-hour trading volume stands at approximately $9.3 billion, reflecting the elevated activity from the weekly surge.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrency markets are highly volatile, and past performance does not indicate future results. Always conduct your own research before making investment decisions. Published Aug. 23, 2026.

A significant imbalance has developed in the XRP market, as shown by new data from CoinGlass and Bitfinex, despite the spot price remaining above $1.50. The surface stability seen in XRP’s price is masking underlying risks linked to growing leveraged positions.

Sharp increase in margin longsOn Bitfinex, the volume of XRP margin long positions recently broke above 6.41 billion coins. In the most recent trading candle, traders increased their long exposure by over 260 million XRP, highlighting the accelerating use of leverage.

This trend is not limited to a single platform. Major exchanges including Binance are also seeing a rise in leveraged buying activity, with the number of long positions now more than two and a half times the volume of short positions. The balance between speculative bets and traditional investors has tilted heavily toward high-risk exposures.

Mini dictionary: Margin long – A position using borrowed funds to amplify buying power, which increases both the potential for gains and the risk of losses if the market moves against the position.

Short-term traders now dominate XRP markets, pushing daily futures trading volume to nearly 4.5 times the value of actual spot trading. This suggests that leverage, rather than organic demand, is fueling much of the current price action.

According to market data, the buyer side is showing an imbalance of 723%, indicating excessive risk. While short sellers’ risk exposure stands at approximately $2.95 million, the long side faces a much steeper potential loss.

PositionRisk ExposurePotential Liquidation ClusterBuyers (Longs)$24.29 million7.2 times higher than shortsSellers (Shorts)$2.95 millionReferenceIf XRP’s price moves closer to what traders call the “maximum-pain” zone for longs, a cluster worth $24.29 million could be forcibly liquidated, which is over seven times the risk on the short side.

Market instability warningSigns of instability have begun to appear. Over the past 24 hours, approximately $29 million in positions were forcibly closed, with the majority of these losses impacting leveraged longs. With futures liquidity heavily concentrated on Binance, significant selling from large holders in the spot market increases the risk of a liquidation cascade.

During weekend trading, when liquidity tends to be lower, analysts caution that this setup could quickly push the price of XRP toward the margin trap zone near $1 as liquidations cascade across the market.

Speculative leverage now dominates XRP markets, with long positions reaching unprecedented levels and exposing buyers to heightened liquidation risk if prices turn sharply lower.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

TLDR: Ripple CEO says U.S. crypto rules are nearing a turning point as the CLARITY Act heads to a Sept. 15 vote. The Senate’s Sept. 15 cloture vote needs 60 votes to advance debate on the CLARITY Act, not pass the bill. Ripple’s SEC case ended in August 2025 with a $125.04M penalty and restrictions on institutional XRP sales. The SEC and CFTC issued joint crypto guidance in March, while the SEC proposed a broader framework on Aug. 18. The United States has entered a critical phase in its long-running effort to define cryptocurrency rules, according to Ripple CEO Brad Garlinghouse. His assessment followed the CFTC’s inaugural Innovation Advisory Committee meeting on Aug. 20, where regulators, crypto executives, and traditional finance leaders met in Washington.

No August doldrums in DC this week! It was great to join the inaugural @CFTC Innovation Advisory Committee (a group I've called "the Olympic roster of crypto.") But for a “crypto” gathering, there were a LOT of TradFi players in the room like @NASDAQ, @CMEGroup, @CBOE,… pic.twitter.com/T6hjrcK2e8

— Brad Garlinghouse (@bgarlinghouse) August 22, 2026

The meeting covered digital assets, artificial intelligence, and prediction markets. It also came as Congress prepared for a September procedural test of the CLARITY Act, keeping legislation at the center of the regulatory debate.

Washington Pushes U.S. Crypto Rules Toward a Turning Point Garlinghouse described the CFTC gathering as an “Olympic roster” of industry and financial-market leaders. Members include Coinbase CEO Brian Armstrong, Uniswap Labs CEO Hayden Adams, and Chainlink Labs co-founder Sergey Nazarov.

Executives from Nasdaq, CME Group, Cboe Global Markets, DTCC, and the London Stock Exchange Group also participate, bringing traditional finance deeper into policy discussions. Against that broader institutional backdrop, Garlinghouse said participants largely agreed that older financial rules no longer adequately address modern digital markets.

That consensus also marks a notable shift from Ripple’s position seven years earlier. In July 2019, Garlinghouse and Executive Chairman Chris Larsen urged Congress not to treat every digital currency alike. They also warned that regulatory uncertainty could push jobs and investment overseas. Since then, however, the federal framework has evolved considerably.

That shift became more visible in March, when the SEC and CFTC issued joint guidance covering several crypto asset categories and transactions. The interpretation addressed staking, mining, wrapping, and airdrops while reaffirming that the Howey test remains the controlling legal precedent.

The SEC then proposed a broader framework on Aug. 18. That proposal includes new fundraising exemptions and a possible safe harbor for some digital assets. However, agency rules do not provide the same durability as federal legislation.

Sept. 15 Senate Vote Becomes the Next CLARITY Act Test That legislative focus now shifts to Sept. 15, when the Senate is scheduled to hold a cloture vote on proceeding with H.R. 3633. The measure, formally called the Digital Asset Market Clarity Act, represents the next major test for U.S. crypto regulation.

The 2:15 p.m. ET vote would not pass the bill. Instead, it would determine whether the Senate can advance toward debate, with cloture requiring 60 votes. Even if lawmakers clear that procedural hurdle, several disputes remain unresolved.

Negotiations continue over ethics provisions, illicit-finance safeguards, and other market-structure issues. Against that backdrop, President Donald Trump urged Congress on Aug. 19 to pass a “fair version” of the legislation. The bill seeks to clarify when digital assets fall under securities or commodities oversight.

It also aims to define how regulatory authority should be divided between the SEC and CFTC. For Ripple, that distinction carries added significance after years of litigation involving XRP sales. The case formally ended in August 2025 after both sides dismissed their appeals.

However, a $125.04 million civil penalty and an injunction against unregistered institutional sales remained in force. Earlier, the district court ruled that programmatic XRP sales on public exchanges were not unregistered securities offerings. By contrast, certain institutional sales were found to have violated securities laws.

That legal history helps explain Garlinghouse’s continued emphasis on congressional action. Regulators have provided clearer guidance, but a durable nationwide market structure still depends on legislation. As a result, the September vote stands as the clearest near-term test of whether Washington can turn regulatory momentum into lasting federal law.

XRP’s entry into the US Federal Reserve’s instant payment service, FedNow, is taking shape through an established technology provider, Volante Technologies. Crypto researcher SMQKE claimed that Volante’s confirmed Ripple integration may allow participating institutions to utilize XRP for settlement as they connect to FedNow.

Volante bridges Ripple and FedNowVolante acts as an intermediary between financial institutions and major payments networks, including FedNow and The Clearing House’s RTP network. The company’s platform enables banks and payment providers to access multiple networks efficiently, simplifying transactions across otherwise separate rails.

Volante has confirmed that its platform can offer XRP as a settlement option via its direct integration with Ripple’s network. Since October 2015, Volante has maintained this capability, further expanding it in 2016 by incorporating Ripple’s solution into its payments development platform, VolPay Foundation.

Financial institutions using Volante already have the infrastructure to facilitate XRP settlements, putting them in a strategic position as FedNow adoption increases. SMQKE emphasized the significance of Volante’s multi-network approach combined with Ripple integration, as it potentially gives institutions access to XRP-conducted settlements while connecting to FedNow.

Volante’s multi-network status and active Ripple integration put XRP within reach for any institution linking to FedNow through service providers.

Service providers lead connectivityThe 2023 Faster Payments Barometer, which surveyed organizations on their FedNow and RTP connectivity strategies, found that 47% of respondents preferred third-party service providers for connecting. Only 32% planned to link directly to each network.

Deepak Gupta, SVP and Global Head of Payments-as-a-Service at Volante, referenced the 2023 Barometer and explained that third-party providers can “quickly connect institutions to multiple networks,” confirming Volante’s key market role.

This trend is reinforced by the emphasis on interoperability across the payments landscape. According to the same survey, 92% of respondents considered interoperability across systems important. Volante’s model directly addresses this need, especially as it now includes XRP as a supported settlement asset.

The interoperability focus revealed in the 2023 Barometer aligns with Volante’s offering, as its platform supports seamless connections across multiple payment systems and integrates alternative settlement methods like XRP.

Infrastructure enables instant settlementVolante’s integration with Ripple has been active for years, and a Twitter exchange in June 2020 confirmed the platform can use XRP as a settlement mechanism. In partnership with Ripple, Volante enhanced its capabilities to simplify bank connections to Ripple’s real-time cross-border payments network.

This longstanding integration means that institutions routing FedNow or RTP transactions through Volante already have access to XRP settlement, without any additional technical barriers.

Because the payments landscape can shift dramatically with regulatory decisions or new altcoin listings, market participants have started opting for consolidated, privacy-first tools. Modern solutions like CryptoAppsy provide real-time charts, smart alerts, coin-specific news, and macroeconomic data, all in a single dashboard without requiring account setup. This approach helps investors monitor both infrastructure developments and rapid price movements without needing several apps.

SMQKE pointed out that XRP’s connection to FedNow through Volante is neither hypothetical nor pending. The technical link is confirmed and operational, providing immediate access for financial institutions seeking faster and more diverse settlement options.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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.

The price of Zcash (ZEC) has exceeded $814 for the first time in eight years, fully recovering from its June decline to $250 caused by a vulnerability in the Orchard pool. The coin's surge and increase in market capitalization to $13.74 billion were driven by the upcoming listing of the first spot Zcash fund, the Zcash ETF, prompting the community to discuss whether Zcash could eventually "flip" XRP by market capitalization.

Grayscale Investments has already submitted the final documents to the SEC. Trading in the fund under the ticker ZCSH is expected to begin on NYSE Arca on August 25, 2026. The fund holds up to 393,000 ZEC worth more than $260 million, with Coinbase serving as custodian.

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Zcash's surge ahead of its NYSE listing has brought financial privacy back into the spotlight. Mert Mumtaz, CEO of infrastructure company Helius, reiterated his earlier call to "encrypt the money" and publicly pledged to lobby for privacy coins until Zcash regains its status as a top-three asset by market capitalization.

Zcash weekly price chart showing a surge to an 8-year high of $816.81 alongside a supportive post by Helius CEO Mert Mumtaz. Source: TradingViewThe executive emphasized that transaction protection is a basic human right in digital finance, effectively calling the technology the "second amendment of the internet."

Is an XRP "flip" realistic?Following statements from industry leaders, the expert community has begun actively discussing theoretical scenarios in which Zcash and XRP could reach comparable market shares.

The choice of the Ripple-associated token as the main benchmark for a potential "flip" is driven by its status. Historically established among the world's five largest cryptocurrencies, XRP represents the main barrier on the path to the top of the market, behind only Bitcoin, Ethereum, and stablecoins.

In addition, both coins now compete in the same traditional finance arena: XRP already has ETF structures trading in the United States, and Zcash is now joining it.

In numerical terms, the difference looks as follows:

XRP has a market capitalization of $93.45 billion at a price of $1.49 per token, driven by the enormous number of coins in circulation.Zcash currently has a market capitalization of $13.74 billion.Due to Zcash's strictly limited supply, if it hypothetically reached XRP's current market capitalization, one ZEC would be worth $5,537.93, representing a 680% increase from current levels. You Might Also Like

Access to the traditional stock market through an ETF listed on NYSE Arca, together with preparations for quantum-resistant network upgrades, has shifted medium-term expectations among major market participants toward $2,500 and above.

Nevertheless, analysts view the scenario in which Zcash could fully "flip" XRP exclusively as a long-term mathematical benchmark. The true depth of institutional demand for Zcash will be determined by ZCSH's trading volumes during the first few days after its listing.

Cover image via U.Today 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 stablecoin product lead Lauren Berta has highlighted an upcoming XRP Ledger feature that could matter greatly for the RLUSD stablecoin: permission delegation.

Version 3.3.0 of xrpld, the reference server implementation of the XRP Ledger protocol, released earlier this month, introduced XLS-75—'PermissionDelegationV1_1: Granular account Permission Delegation.'

The Permission Delegation amendment is currently up for validator voting on the XRP Ledger, and according to Berta, has the potential to unlock an important capability for institutions issuing regulated assets on XRPL.

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Permission Delegation is currently up for validator voting on the XRP Ledger, and it has the potential to unlock an important capability for institutions issuing regulated assets on XRPL.
Here's why that matters for $RLUSD and every regulated token on the ledger. 🧵

— Lauren (@rootveg444) August 21, 2026 In a lengthy threaded post, Berta explains why permission delegation matters for RLUSD and every regulated token on the ledger. Currently, an XRPL token issuer account controls key functions like minting, freezing, clawback, or trust line authorization. For regulated issuers, those responsibilities often sit across different teams such as compliance, operations, security, and others.

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The Permission Delegation feature is designed to reflect this reality as it allows issuers to delegate specific actions to separate accounts while keeping the issuer account secure. Berta cited an instance where the compliance team gets freeze and clawback, Ops gets mint and burn, and a KYC provider gets trust line authorization, while each team uses its own keys.

Berta noted that this separation of duties is how stablecoin issuers operate on other chains, with different teams being responsible for different functions. The Ripple stablecoin product lead added that Permission Delegation will enable this same operational structure for RLUSD on the XRP Ledger, natively at the protocol level, which is entirely distinct from multisig.

Multisig vs Permission DelegationWhile multisig requires parties to approve a transaction, delegation authorizes an account to perform a specific action on another's behalf.

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"One splits approval authority. The other splits responsibilities," Berta added, noting that multisig and permission delegation solve different problems. Importantly, delegation does not mean giving up control.

Permission delegation remains essential as stablecoin issuers, RWA tokenizers, and asset managers bringing regulated instruments onchain need ways to separate the teams moving assets, enforcing compliance, and managing security.

While permission delegation is currently in validator voting, in parallel, the RLUSD team is building and testing the functionality on devnet in preparation for its activation.  

In a notable milestone, Ripple USD (RLUSD) stablecoin total circulating supply has topped $2 billion. 

XRP recorded a significant price increase on Thursday, surging over 17% to reach an intraday peak of $1.43. The spike coincided with Ripple’s official support for the PermissionDelegationV1_1 amendment on the XRP Ledger (XRPL), which advances core upgrades anticipated in the forthcoming XRPL version 3.3.0. However, the proposed feature still requires broader consensus among network validators before it can be implemented.

Validator Voting and Amendment ProgressOut of 35 validators listed in the Unique Node List, only 7 have voted in favor of the PermissionDelegationV1_1 amendment so far. Ripple added its vote to the tally, but as a single validator, it cannot control the amendment process. For the change to be enacted on the XRPL, more than 80% of validators must support it for two consecutive weeks. If this threshold is not met or support drops below 80%, the voting period restarts from zero and validators retain the option to reverse their votes at any stage.

The PermissionDelegationV1_1 amendment allows account owners to authorize another account for specific transaction types, enhancing the flexibility and usability of XRPL accounts. This delegated authority is limited in scope and does not extend to all payments or changes in account settings, preserving owner control and security.

Implications and Additional ProposalsRole-based permission systems, similar to the proposed amendment, are widely used by financial organizations to restrict data access and operational control among employees and service providers. By giving precise permissions to distinct accounts, organizations can enhance security without compromising efficiency.

Jazzi Cooper, RippleX head of product, emphasized the importance of establishing appropriate controls for regulated firms engaging with public ledgers. She explained that token issuance is a necessity for on-chain activities, and consistent standards are crucial. The PermissionDelegationV1_1 amendment adheres to the XLS-75 standard and replaces a previous version that was disabled due to a critical software bug, which this update now addresses and corrects.

Node operators are urged to upgrade and run software with approved amendments to maintain network compatibility. Running outdated software may result in amendment blocks if the node cannot process updated protocol rules.

Jazzi Cooper highlighted the need for regulated organizations to have adequate controls when issuing tokenized assets on public ledgers, pointing out that the PermissionDelegationV1_1 amendment responds to this requirement while upholding XRPL’s security framework.

Other XRPL Upgrades and Market DynamicsRipple also signaled support for two additional amendment proposals: Single Asset Vault (XLS-65) and Lending Protocol (XLS-66). These received support from 40% and more than 37% of validators, respectively, which remains below the 80% supermajority threshold needed for activation.

The Single Asset Vault feature offers a mechanism to aggregate a singular asset, such as XRP, RLUSD, or similar ledger tokens, enabling shareholders to hold proportional ownership within the vault. Meanwhile, the Lending Protocol proposes fixed-term credit issuance and pooled liquidity, supported by off-chain credit evaluations. Security reviews of the lending protocol code, including a re-audit by Halborn in June, flagged no major or high-severity vulnerabilities.

Validator approval solely enables such features on-chain and does not alter any regulatory requirements for XRP, RLUSD, securities, or lending. These developments underscore the incremental expansion of functionality on XRPL.

Market Activity and Tokenization TrendsFollowing a recent low at $1.22, XRP surged roughly 40% over the past week, driven by higher spot prices and active short-covering. Trading volume in spot markets soared 156% during the rally, reflecting increased investor participation. ETF flows also intensified: net inflows into US spot XRP ETFs totaled $13.24 million on Thursday, with Bitwise adding $9.9 million and Franklin Templeton $3.34 million. Open interest in XRP futures expanded to $3.44 billion, gaining 17% in the last 24 hours. CME, Binance, and Hyperliquid exchanges saw respective increases in open interest of 35%, 15%, and 29%.

These blockchain innovations are part of a broader trend in financial markets. While traditional systems depend on multiple intermediaries, a shift toward Web3 is revolutionizing asset handling. Wall Street firms and investors now leverage platforms like 1stepSwap to directly hold shares of major US companies, gold, and silver in their crypto wallets. These platforms tokenize Real-World Assets (RWAs) and use smart routing to identify optimal market prices in seconds, effectively eliminating the need for middlemen.

The PermissionDelegationV1_1 amendment will enable XRPL account owners to delegate authority for certain transaction types, providing greater flexibility and closer alignment with institutional security standards.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Goldman Sachs has regained its position as the largest institutional holder of XRP exchange-traded funds, after fully exiting its XRP ETF positions in the previous quarter. The Wall Street bank rebuilt its XRP ETF portfolio in the second quarter of 2026, with newly disclosed filings revealing major additions to its holdings.

Goldman Sachs increases XRP ETF exposureThe bank’s updated XRP ETF portfolio features investments across funds managed by Bitwise, Franklin Templeton, Canary Capital, 21Shares, and Grayscale. Goldman Sachs reported notable increases in share counts for several of these funds, signaling renewed commitment to the XRP market.

Its largest position was 2,238,407 shares in Franklin Templeton’s XRPZ. Additionally, Goldman held 2,208,949 shares in the Bitwise XRP ETF, 1,759,090 shares of Canary’s XRPC, and 806,126 shares in 21Shares’ TOXR fund. The bank also reported 377,619 shares in Grayscale’s GXRP.

Goldman Sachs’ latest quarter filings valued the overall XRP ETF position at $86.5 million. In comparison, its previous exposure, before a full exit, was reported at approximately $152 million. The recent re-entry marks a substantial, but comparatively smaller, allocation.

FundShares HeldFranklin Templeton XRPZ2,238,407Bitwise XRP ETF2,208,949Canary XRPC1,759,09021Shares TOXR806,126Grayscale GXRP377,619Alongside its ETF holdings, Goldman Sachs disclosed 365,976 shares in XRPN, a security offered by Armada Acquisition Corporation II. The filing noted Ripple-backed Evernorth Holdings is pursuing a merger with the special purpose acquisition company (SPAC) to list on Nasdaq.

Mini dictionary: SPAC (Special Purpose Acquisition Company): A publicly traded company created specifically to acquire or merge with another business, allowing the target firm to go public more quickly and with fewer regulatory hurdles than a traditional initial public offering.

Evernorth Holdings confirmed progress on the proposed merger, which aims to facilitate the company’s public listing. Goldman Sachs included its XRPN stake with the XRP ETF disclosures in its quarterly report.

Broader institutional interest and market inflowsAdditional major banks, including JPMorgan, Morgan Stanley, and Bank of America, also disclosed XRP ETF holdings for the second quarter of 2026. These filings indicate growing institutional engagement with digital assets among leading US financial players.

The renewed investment activity aligns with increased efforts by major institutions to further tokenization initiatives and digital treasury management solutions. Market participants are also expanding real-time cross-border transaction systems to support evolving digital payment frameworks.

Recent data from SoSoValue showed that the US spot market for XRP ETFs posted $13.24 million in net inflows on Thursday. Bitwise accounted for $9.9 million, while Franklin Templeton reported $3.34 million in new investments. Total assets under management in XRP ETFs reached $1.17 billion, and total net investment in these products topped $1.53 billion.

IssuerNet InflowBitwise$9.9 millionFranklin Templeton$3.34 millionTotal US XRP ETF Market$13.24 millionPositive market sentiment was reflected in ongoing policy discussions in Washington. Ripple’s CEO, Brad Garlinghouse, and other crypto industry leaders attended Clarity Act discussions at the White House as regulatory debate intensified.

Ripple-backed Evernorth Holdings moved closer to completing its merger with Armada Acquisition Corporation II, aiming for a Nasdaq listing as institutional XRP ETF activity accelerates.

XRP price surges on rising activityXRP rose sharply in the past 24 hours, reaching about $1.37 with a 16% increase. Over the past week, CoinMarketCap reported a gain of 38% in XRP, mirroring the broader cryptocurrency market’s recovery.

Daily trading volume surged by 113.47% within 24 hours, reflecting intensified market interest and heightened trading activity as XRP’s price advanced.

XRP daily trading volume spiked more than 113%, signaling a significant uptick in buying and selling as the cryptocurrency rebounded strongly.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Brad Garlinghouse, CEO of Ripple, addressed the CFTC Innovation Advisory Committee, outlining the company’s four-year legal battle with the SEC and the impact of regulatory uncertainty on both Ripple and the digital asset industry in the United States.

$150 million in legal costs over four yearsGarlinghouse began by thanking the Commodity Futures Trading Commission (CFTC) for its hospitality and quickly moved to the difficulties Ripple faced under the previous administration. He described Ripple as being “at the center of the bullseye of the SEC’s lawfare,” noting that leadership at the regulatory level had a direct effect on the industry’s trajectory.

He provided figures to demonstrate the toll: Ripple paid $150 million in legal fees to external counsel during its extended fight. Garlinghouse explained that most companies would not have survived such pressures, as many firms in the sector were “bullied into submission” even before lawsuits were filed. He emphasized that the challenges Ripple faced shaped the entire industry’s perception of the regulatory landscape at that time.

Ripple devoted $150 million to external legal defense against the SEC over a four-year period, a level of expenditure that Garlinghouse argued would have crippled smaller firms and discouraged broader industry participation.

Ripple’s global hiring shiftsBeyond legal costs, Garlinghouse highlighted the operational impact. He revealed that 80% of Ripple’s hiring during the court case occurred outside the United States. He cited the establishment of Ripple’s second-largest office in London as a direct response to the regulatory environment in the U.S. at that time.

Garlinghouse connected this trend to business fundamentals, arguing that companies will not invest or create jobs where long-term strategic planning is not possible. This, in his view, has affected where capital and talent flow within the crypto sector, reflecting a wider trend among digital asset firms.

Mini dictionary: CFTC (Commodity Futures Trading Commission) – The CFTC is a US government agency that regulates derivatives markets, including futures, options, and swaps. Its role is to promote integrity, resilience, and vibrancy in US derivatives markets through sound regulation.

Shifting regulatory tone in the United StatesGarlinghouse observed that the current administration and regulators, including both the CFTC and the SEC, have shifted their stance and introduced a new approach for the sector. He described the change as substantial, stating that there is a consensus among stakeholders that the previous situation failed consumers and stifled innovation.

According to Garlinghouse, clearer regulations are needed to defend both users and industry growth. Well-defined guidelines can protect users and ensure corporate accountability, enabling responsible development of new financial technologies.

Garlinghouse pointed to the technologies discussed at the CFTC event as proof that with regulatory certainty, cross-border payments can become faster, more efficient, and more widely accessible, but achieving this potential hinges on clear rules of the road.

Future outlook for XRP and the broader crypto industryGarlinghouse’s remarks came soon after his attendance at a White House summit focused on digital assets. For XRP holders and digital asset advocates, his statements signaled renewed confidence in the regulatory environment. Ripple is now adopting a more proactive stance, reflecting optimism that evolving US policy will support both industry innovation and compliance.

Garlinghouse’s comments suggest that Ripple, a technology company specializing in blockchain-based payment solutions, expects to leverage regulatory progress for further growth, both in the US and internationally. Stakeholders are watching for further clarity that would enable domestic investment and hiring while supporting user protection across markets.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Ripple (XRP) price is up by 17% today, August 21, to trade at $1.30 at the time of writing. The gains come amid a surge in buying pressure, with data from CoinMarketCap showing that trading volumes are up by 127% in 24 hours to $8.17 billion.

XRP is now forming a falling wedge pattern on the weekly chart that usually suggests that the downtrend that pushed the price from $1.94 in January to $0.99 in August could be over. Meanwhile, Ripple’s CEO Brad Garlinghouse opines that the company will have a record year.

Garlinghouse Says Ripple Will Have a Record Year Garlinghouse was speaking at the Wyoming Blockchain Symposium, where he said that Ripple is on the verge of doubling its revenue in 2026. He attributed this increase in revenue to the acquisitions of Hidden Road and GTreasury in 2025.

His remarks also come at a time when Ripple is expanding its footprint in the traditional finance space. A recent report by CoinGape noted that Ripple is partnering with Clearpool and Cicada to bring institutional credit to the XRP Ledger.

During the Wyoming Blockchain Symposium, Garlinghouse also sparked speculation of Ripple filing for an IPO, saying that the company is no longer entirely opposed to going public.

“We’ve been very happily private for a long time… we are more neutral on the topic than maybe we used to be,” he said.

These remarks coincide with a bullish sentiment across the crypto market that has seen the price of XRP gain by 31% in three days.

XRP Price Creates a Bullish Wedge Pattern The price of XRP is forming a falling wedge pattern on the weekly chart. This pattern usually suggests that the trend is changing from a bearish one to a bullish one.

XRP has also moved above the resistance at the upper trendline of the wedge pattern. Still, it has to close above this resistance to confirm the bullish outlook to move to the next obstacle at $1.71.

The RSI that has moved from an oversold reading of 30 on August 10 to 49 today, August 21, also confirms that the trend is shifting. The current RSI reading shows that selling pressure has eased, and the price of XRP could extend the gains.

The value of XRP today is also testing the resistance at the 200-day EMA of $1.36. If it moves above this EMA, it will confirm that the long-term trend is changing to favor bulls.

XRP Price Chart (Source: TradingView) If this bullish thesis fails and XRP price fails to close above the 200-day EMA, it might drop to the psychological support of $1.20.

XRP ETF Volumes Reach $125 million Data from SoSoValue shows that the total value traded for XRP ETFs has reached $125 million. The Bitwise XRP ETF accounts for the biggest share of these volume numbers, with $83 million traded since the product launched.

The recent 31% gain in XRP price has also increased the demand for XRP ETFs, because they recorded $13.24 million in inflows on August 20. This marks the biggest single-day inflows recorded by the ETFs since June 29.

XRP ETF Flows (Source: SoSoValue) The surge coincides with surging demand for all crypto ETFs after the total inflows reached $885 million on August 20, with Bitcoin (BTC) leading with $606 million in inflows.

Top executives from Coinbase and Ripple are intensifying efforts in Washington, seeking progress on stalled U.S. cryptocurrency legislation. The ongoing debate focuses on the CLARITY Act, with unresolved ethics provisions identified as the key stumbling block delaying advancement of the market-structure bill.

High-level talks with policymakersCoinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse, representing two of the most influential companies in the digital asset sector, recently met with Commerce Secretary Howard Lutnick. These discussions explored potential actions by the White House to maintain bipartisan momentum for crypto reform as the legislative process faces political challenges.

The CLARITY Act is designed to clarify federal oversight of digital assets, aiming to establish defined responsibilities across regulatory agencies. However, language covering ethics requirements has surfaced as a contentious point among lawmakers.

Executives and officials have highlighted that the central divide lies in reconciling the ethical standards embedded in the bill, which remain sensitive for both parties and have become a major factor in delaying progress.

Both industry leaders and government representatives continue to search for wording that could secure bipartisan agreement. President Donald Trump has characterized the legislation as bipartisan and pressed Congress to approve it. Despite these calls, the specific compromise necessary to resolve outstanding concerns has not yet been agreed upon, and there is no immediate prospect of a fully negotiated deal.

Market impact and corporate positioningThe ongoing negotiations reflect a shift in the regulatory discussion: instead of arguments over the classification of digital tokens or market surveillance, the focus is now on political negotiation and legislative strategy. For large, U.S.-based crypto firms, a tangible path toward passing a market-structure law is seen as more significant than continued public advocacy on regulatory clarity.

Coinbase, a leading U.S. cryptocurrency exchange, has frequently argued that without dedicated regulations, businesses face unclear standards around enforcement and registration. Ripple, which operates the enterprise-focused payments network and is closely associated with the XRP token, has become a vocal participant in the policy debate. The company maintains that regulatory outcomes have a direct effect on both its core business and the broader digital asset industry.

Brad Garlinghouse has recently pointed out that nearly 67 million Americans hold crypto, demonstrating the growing mainstream importance of digital assets. This broadening user base is adding pressure for a resolution, but has not led to immediate political consensus regarding the bill’s ethics provisions.

The active engagement of major crypto companies with federal officials suggests growing momentum, rather than a guaranteed outcome for the CLARITY Act. A workable ethics compromise is seen as critical to reviving legislation considered crucial for increased institutional investment in U.S. crypto markets.

A renewed deadlock risks extending the policy ambiguity that has long influenced U.S. crypto company strategies and asset valuations, highlighting the industry’s reliance on developments in federal lawmaking.

The CLARITY Act continues to serve as a bellwether for institutional confidence in the regulatory landscape. Its fate may ultimately rest on whether lawmakers can reach a consensus on ethics, rather than technical concerns tied to digital asset oversight.

Mini dictionary: CLARITY Act, a proposed U.S. federal legislative measure seeking to define regulatory standards and responsibilities for the cryptocurrency and digital asset markets, with the aim of providing legal certainty for market participants.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Ripple has minted another batch of RLUSD as XRP stages a sharp rally, with the token gaining nearly 19% over the past 24 hours and briefly climbing to $1.24.

The latest RLUSD activity comes as Ripple’s stablecoin sees a flurry of new issuance and redemptions.

Ripple mints more RLUSDRipple minted 900,000 RLUSD in a transaction recorded on the XRP Ledger on Aug. 20, according to the transaction data shown by XRPScan.

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The latest issuance followed several larger RLUSD transactions tracked by the Ripple Stablecoin Tracker. 

The tracker reported 20 million RLUSD minted at the treasury three hours earlier, while two additional 10 million RLUSD mints were recorded about 11 hours earlier. 

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Another 12 million RLUSD was minted roughly 19 hours ago, followed by a 32 million RLUSD issuance about 23 hours ago.

At the same time, RLUSD has also seen substantial burns. The tracker reported 15.4 million RLUSD burned at the treasury about an hour ago, following a 20 million RLUSD burn on Ethereum roughly three hours earlier.

Taken together, the reported activity points to significant turnover in RLUSD supply rather than a simple one-way expansion. 

The latest minting and burning transactions show Ripple continuing to actively manage the stablecoin's supply. 

XRP price spikes nearly 19%XRP has delivered an even more dramatic move over the same period. The token was trading at around $1.22 at the time of writing, up 18.8% over 24 hours, according to the supplied market data.

XRP climbed from a 24-hour low of about $1.03 to as high as $1.24, marking a move of roughly 20% from the session's bottom. The token was also up 21.2% over seven days, while its 30-day gain stood at 16.5%.

TLDR Table of Contents

XRPL is considering XLS-66, a lending standard for fixed-term loans funded through pooled assets. The proposal would rely on XLS-65 Single Asset Vaults, where depositors receive shares representing their pool ownership. Loan brokers would manage lending pools, set fees, approve loans, and determine first-loss capital requirements. Credit checks and borrower assessment would remain off-chain rather than using automatic collateral liquidations. Brokers could post first-loss capital to reduce depositor losses if borrowers default. The XRP Ledger (XRPL) is reviewing a lending standard that could allow pooled assets to fund fixed-term loans on XRPL. The draft, XLS-66, would use XLS-65 Single Asset Vaults to collect assets from depositors and issue shares that represent their stake in each pool.

A loan broker would create and manage the pool, approve loans, set fees, and define first-loss capital. The structure could support XRP, issuer-backed assets or Multi-Purpose Tokens, while access could remain public or restricted.

XRPL Vaults Would Hold Pooled Lending Assets Under XLS-65, depositors would place one asset into a vault and receive shares based on their contribution. Those shares would show ownership, but they would not guarantee immediate access to cash once the pool funds loans.

Each pool would need withdrawal rules. Terms could explain whether requests enter a queue, whether lending limits apply, and how much liquid capital remains available while loans stay open.

XLS-66 would allow a broker and borrower to create a loan with principal, interest rate, payment schedule, maturity date and grace period. The loan record would track unpaid principal and interest on the ledger.

The system would support late-interest rules, origination fees, and early repayment charges. If a borrower misses payments beyond the grace period, the broker could mark the loan as impaired or defaulted.

Credit Checks Would Remain Off-Chain The proposal focuses on uncollateralized lending and does not add automatic collateral sales or forced liquidations. Brokers would assess borrowers outside XRP Ledger using financial records, legal agreements, guarantees, trading history, or other credit checks.

This approach gives brokers a central role in risk control. Depositors would need information on borrower standards, concentration limits, legal terms and the broker’s lending process before allocating assets to a pool.

XLS-66 would let brokers post first-loss capital to absorb part of a default. The value of that protection would depend on the size of the reserve compared with outstanding loans.

The proposal remains a draft and depends on XLS-65 and XLS-64. Adoption would require approved standards, active brokers, borrowers, and clear pool terms. Evernorth has explored XRP-related DeFi opportunities, but no primary material reviewed identifies an Evernorth-run lending pool.

Ripple CEO Brad Garlinghouse joined President Donald Trump, SEC Chair Paul Atkins, CFTC Chair Michael Selig, Coinbase CEO Brian Armstrong and other crypto industry leaders at the White House, where the focus was on clearer crypto rules, U.S. innovation and the next steps for the CLARITY Act. The meeting came as XRP was recovering from the $1 area, with the fresh regulatory movement helping improve sentiment around the token.

Brad Garlinghouse: “Crypto Isn’t a Fringe Industry”Garlinghouse mentioned the growing size of the U.S. crypto market, saying 67 million Americans now hold crypto, or nearly one in four people. He said crypto has moved well beyond being a niche industry and that Washington can no longer ignore its growing user base.

He also praised Trump’s focus on digital-asset innovation, saying the administration’s commitment could create a brighter future for the industry.

For XRP, the broader thing is that Ripple has been pushing for clearer U.S. rules for years. Greater regulatory certainty could make it easier for crypto companies and financial institutions to build and operate in the country.

Trump Puts the CLARITY Act in FocusTrump called on Congress to pass a fair version of the legislation, arguing that it could open the door to the next wave of innovation.

Coinbase CEO Brian Armstrong called the September 15 CLARITY Act vote the most important next step. He said the administration, SEC and CFTC are aligned and that the crypto industry is ready to move the legislation forward.

The bill is still not law, so its progress through the Senate remains an important factor for the market.

SEC Chair Paul Atkins said the regulator is working toward making the U.S. a stronger home for crypto innovation. He pointed to the SEC’s proposed crypto-assets rules, which he said could provide companies with more certainty when raising capital through digital assets.

Atkins also backed the goal of sending the CLARITY Act to Trump for approval, connecting crypto regulation with the broader effort to boost U.S. financial markets and bring more investors into the system.

XRP Price JumpsXRP climbed nearly 10% to around $1.09, breaking above the $1.08 level after spending several days near $1. The next level to watch is around $1.14, with a sustained move above it potentially opening the way toward $1.20. If the rally loses momentum, $1.08 could become an important support level.

🚨 $XRP EXPLODES 12% After Ripple CEO’s Trump Meeting — SMASHES Through $1.08 Resistance as RSI Hits EXTREME Overbought Levels 🤯🔥

After weeks of fighting around $1.00, $XRP suddenly ripped nearly 12%, blasting straight through the major $1.081 resistance and reaching roughly… https://t.co/MqynN5V4vY pic.twitter.com/sKZyQWdkxG

— Diana (@InvestWithD) August 19, 2026 The price move was also supported by renewed XRP ETF demand. Spot XRP ETFs recorded $5.81 million in inflows on August 18, their strongest single-day inflow since July 31, after seeing no activity on Monday. The five ETFs now collectively hold about 1.5% of XRP’s current supply.

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Volkswagen’s commercial vehicle arm, TRATON Group, has migrated its global treasury operations to Ripple Treasury’s platform, in a move that replaces decades-old manual processes with advanced digital infrastructure.

TRATON Group, part of the Volkswagen Group and the manufacturer behind international brands such as Scania, MAN, and Volkswagen Truck & Bus, has chosen Ripple Treasury to standardize forecasting across its worldwide operations.

Ripple Treasury confirmed TRATON as a new enterprise customer, sharing the news through its LinkedIn page. TRATON is recognized as one of the largest commercial vehicle manufacturers globally, servicing dozens of markets through its extensive portfolio of brands.

Commentators, such as crypto analyst BankXRP, drew attention to the scope of the deal, noting it as an example of Ripple embedding itself deeper within the financial infrastructure of multinational enterprises.

Ripple is replacing roughly 20 separate Excel forecasting templates within TRATON Group’s operations, moving the company toward a unified treasury solution.

Ripple Treasury is the newly branded treasury management solution born of Ripple’s $1 billion acquisition of GTreasury in 2025.

Mini dictionary: TRATON Group is a leading global manufacturer of commercial vehicles and a core subsidiary of Volkswagen Group, operating major brands like Scania, MAN, and Volkswagen Truck & Bus.

From fragmented spreadsheets to centralized dataTRATON’s treasury operations formerly depended on about 20 distinct Excel templates for planning and forecasting, each maintained separately by individual teams across its brands. This manual, fragmented approach often led to inconsistent data quality, heavy reconciliation workloads, and a reliance on localized expertise.

By transitioning to Ripple Treasury, TRATON’s teams now access a single, standardized forecasting environment. Automated data collection replaces manual entries while a centralized audit trail ensures accuracy and accountability. This upgrade is particularly significant for an organization with over €40 billion in revenue and multi-market operations spanning various currencies and subsidiaries.

Previous SystemRipple Treasury20 separate Excel templatesUnified digital platformManual data collectionAutomated data automationFragmented reportingCentralized audit trailInconsistent data qualityConsistent, reliable dataCommunity buzz and timingXRP community members noted that the TRATON partnership announcement fell on August 18, 2026, exactly five years after a social media post showed a Volkswagen stock chart. While some observers speculated about the timing, there is no verified connection, but the alignment has fueled discussion and buzz within the community.

Ripple’s expanding enterprise reachThis new agreement makes TRATON one of the first major industrial customers to deploy Ripple Treasury since Ripple acquired and rebranded GTreasury. The agreement highlights Ripple’s ongoing push into the enterprise sector, providing digital infrastructure for globally recognized manufacturers.

TRATON’s adoption of Ripple Treasury is a concrete example of a Fortune-level manufacturer replacing legacy systems with a blockchain-driven platform, signaling broader enterprise acceptance.

The arrangement is expected to streamline global treasury functions for TRATON, enhancing accuracy and efficiency while opening the door for Ripple to expand its presence in the automotive industry and among top-tier enterprises.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

XRP saw strong activity in Q2 2026, with institutional interest, stablecoin adoption, and RWA tokenization driving growth across the XRP Ledger (XRPL) ecosystem.

According to Blockworks’ State of XRP: Q2 2026 report, XRP ETPs attracted $253.6 million in net inflows during Q2, a 45.1% increase from the $174.8 million recorded in Q1.

May and June were particularly strong, generating $141.9 million and $111.5 million in net inflows, respectively. Cumulative net inflows since the launch of the first U.S. spot XRP ETF in November 2025 surpassed $1.90 billion.

However, quarter-end ETP assets under management fell 17.1% to $1.99 billion, reflecting XRP’s 19.9% price decline during the quarter.

Bitwise led tracked issuers with $421.5 million in quarter-end AUM, followed by 21Shares with $366.2 million, Canary Capital with $240.7 million and Franklin Templeton with $234.6 million. Together, the four issuers represented 63.6% of tracked XRP ETP AUM.

XRP ETP Issuer chart for Q2 XRPL Stablecoin Activity Accelerates Meanwhile, XRPL-native stablecoin supply surged 195.4% quarter over quarter to $825.5 million, compared with $279.5 million at the end of Q1. The figure was more than 1,100% higher than the $66.1 million recorded a year earlier.

Ripple’s RLUSD accounted for $676.9 million, or 82% of the total.

XRP Ledger (XRPL) Stablecoin chart with RLUSD dominating RLUSD also drove most of the growth in stablecoin transfer activity. Stablecoin transfer volume on XRPL rose 207.5% to $10 billion, with RLUSD accounting for about $9 billion (90%). That was nearly 3.5 times its Q1 transfer volume of $2.6 billion.

RLUSD also expanded its reach during the quarter. OKX added RLUSD across more than 280 spot trading pairs, including XRP/RLUSD. Japan also approved RLUSD as an electronic payment instrument under its Payment Services Act.

XRPL’s Tokenized RWA Market Passes $4 Billion Real-world assets (RWAs) were another major growth area for the XRP Ledger in Q2 2026. The total value of tokenized RWAs on XRPL reached $4.46 billion, up 102.5% from Q1. This made XRPL the fourth-largest network for tokenized RWAs tracked by RWA.xyz.

About half of the total came from Justoken’s $2.23 billion JMWH, an energy-backed asset that was fully held by its issuer.

XRPL also attracted more institutional players. Kyobo Life Insurance continued a pilot for settling tokenized government bonds in South Korea. Later, Aviva Investors launched a tokenized share class of its USD Liquidity Fund on XRPL, with BNY Mellon serving as custodian.

By late July, XRPL had 42 tokenized assets, including corporate bonds, commodities, U.S. Treasuries, stablecoins, investment funds, and government bonds.

XRPL Fees Remain Extremely Low Despite higher network activity, XRPL kept transaction costs very low. The average transaction fee fell to $0.00024 in Q2, down from $0.00034 in Q1. This was the fifth straight quarterly decline.

The network burned about 40,600 XRP in transaction fees during Q2, compared with 50,800 XRP in Q1.

Payments and transfers generated about $31,800, making up 59.7% of network revenue. Account deletions generated $11,800, while orderbook activity generated $5,400.

Overall, Q2 showed institutional demand, stablecoins adoption, and growth in tokenized real-world assets.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

DUBAI, UAE, Aug. 19, 2026 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce its exclusive RLUSD Hold & Earn program is entering Phase 2, extending its partnership with Ripple. Starting now, the upgraded Bybit Earn campaign introduces dual daily rewards in both XRP and RLUSD, with total annualized returns scaling based on holding duration.

Bybit’s RLUSD Hold & Earn program, initially launched in July this year, accumulated over $50 million in Assets Under Custody (AUC) within 11 days, attracting yield-seekers with its simple structure, flexibility, and minimum hassle. Eligible Bybit users may simply hold RLUSD with no staking or lock-up required, drawing popular demand from holders seeking stable, low-friction yield opportunities.

Highlights – Phase 2

The second phase of the program retains the same user experience with added benefits, introducing APR multipliers for holders both by volume and by length of time:

Dual-Token Rewards: Participants can now earn both RLUSD at a competitive base APR and XRP with bonus APR daily XRP Base APR Multiplier: Users who maintain their holdings for 30 days or more receive up to 2x bonus on the XRP portion, more than doubling the potential total APR Smooth User Journey: No subscription, no lock-up. Holding RLUSD is all it takes to earn APR automatically XRP rewards are brought to the Bybit community by Ripple’s milestone-based incentive program, enabling holders to get the most of the Ripple ecosystem assets with confidence.

RLUSD is a USD-backed stablecoin issued by Ripple. Natively issued on XRP Ledger, Ethereum, and other blockchains, RLUSD is fully backed by a segregated reserve of cash and cash equivalents and redeemable 1:1 for US dollars. As a regulated, reserve-backed digital asset, RLUSD offers the price stability of traditional cash in onchain form.

Terms and conditions apply. For more details on the APR multiplier, eligibility, and potential restrictions, users may visit: RLUSD Hold & Earn Phase 2: Earn Up to 21.5% APR in XRP + RLUSD

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Trusted by more than 80 million users worldwide, Bybit brings together investing, trading, payments, and wealth-building in a single secure and intelligent ecosystem. Through the combination of AI-powered technology, deep global liquidity, robust security, and transparent operations, Bybit makes global finance more accessible, efficient, and empowering for everyone.

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The XRP Ledger recorded over 222 million transactions in Q2 2026, marking the second-highest quarterly transaction total in its history.

This impressive record came as XRP remained under pressure from the downtrend that began in Q4 2025. Although activity slipped from the previous quarter, it stayed close to the record level set in Q1.

XRP Total Transactions Spike in Q2 2026 According to Blockwork’s latest “State of XRP” quarterly report, Q2’s transaction count stood at 222.4 million, representing only a 6.5% drop from Q1’s record 238.0 million. Further data confirmed that the network processed an average of 2.44 million transactions each day. 

However, failed transactions rose to 54.6 million, accounting for 24.5% of total transactions, compared with 19.0% in Q1. Meanwhile, average daily active addresses fell to about 16,800, down 10.7% QoQ and 24.5% YoY.

XRP Ledger Network Overview | Source: Blockworks The decline in user activity was more noticeable among new addresses. XRPL recorded an average of about 2,380 new addresses per day, down 22% QoQ. Returning addresses averaged about 14,380 per day, a smaller 8.4% QoQ decline. This suggests that existing users remained more active than new users during the quarter.

The network also maintained a notable pattern in address activity. Notably, active receiver addresses exceeded active sender addresses for seven straight quarters through Q1.

Native DEX Trading Drops as Issued Assets Grow  Trading on XRPL’s native decentralized exchange weakened during the quarter. Specifically, DEX volume dropped 35.9% QoQ to $482.9 million. Of that total, the central limit order book (CLOB) handled $419.1 million, while automated market maker (AMM) pools recorded $63.8 million.

CLOB trading continued to take a larger share of the market, reaching 86.8% for the quarter. This marked the fourth straight quarter in which its share increased. By comparison, the AMM share fell from 29.5% one year earlier to 13.2%.

However, the market value of issued currencies on XRPL increased during Q2. This metric rose 21.0% QoQ and 67.9% YoY, reaching $980.4 million at the end of the quarter. The figure covered approximately 1,100 tokens on the network.

RLUSD made up 69.0% of the issued-currency value at quarter-end, a sharp increase from 23.4% at the end of Q1. The growth in RLUSD supply helped make up for declines among smaller non-stablecoin assets. As a result, RLUSD took a much larger share of the issued-asset market during Q2.

NFT Market Recovers Amid Stablecoin Market Growth Also, NFT activity on XRPL improved from its weak Q1 performance. Trading volume reached $3.69 million in Q2, more than twice the $1.56 million recorded in Q1. Average daily traders rose 7.4% to 529, while daily sales increased 9.4% to about 1,750.

However, the NFT market remained below its level from a year earlier. Q2 volume was 36% lower than the prior-year quarter and stood at roughly 1/130 of DEX volume. NFT mints rose to about 153,000 from 129,000 in Q1, but remained way below the 3.5 million recorded a year earlier.

Impressively, stablecoins recorded one of the biggest gains on XRPL during Q2. Native stablecoin supply climbed 195.4% QoQ to $825.5 million at the end of the quarter, up from $279.5 million in Q1. The figure also marked an increase of more than 1,100% from the $66.1 million recorded a year earlier.

XRP Ledger Stablecoin Supply | Source: Blockworks RLUSD accounted for $676.9 million, or 82.0% of total stablecoin supply at the end of Q2. USDB followed with $119.8 million, representing 14.5% of the total. Meanwhile, Braza’s BBRL and Société Générale’s EURCV had shares of $12.5 million and $11.4 million.

XRP Price Remains Under Pressure The growth in network activity came as XRP continued to struggle in the market. Notably, XRP began Q2 with a price of around $1.31, surged to a peak of $1.48 by May 14, but then corrected to close the quarter at around $1.04.

The Q2 closing price marked a 19.9% decline from Q1 and stood 53.5% below the $2.23 close recorded a year earlier. XRP’s market cap ended the quarter at $65.80 billion, down 18.9% QoQ and 49.5% YoY.

Market capitalization fell less than XRP’s price because growth in circulating supply from escrow releases partly offset the impact of the lower token price.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

@Ripple's $RLUSD stablecoin now commands 62% of all tokenized assets on the XRP Ledger, cementing its position as the dominant on-chain instrument on the network. Data published on August 18 shows the stablecoin's total value on XRPL stands at $898.8M, up 1.82% over the past 30 days.

Who Else Ranks in the Top TierOndo Finance holds the second spot with $212.9M in tokenized assets, representing a 14.78% share of the ledger's total. VERT Capital and Archax also feature among the major positions on XRPL, alongside RLUSD, Ondo, and Societe Generale. VERT Capital accounts for $116.1M and Archax $55.4M, according to the data.

The 30-day picture is not uniformly positive. Braza Crypto recorded the steepest decline among the top ten, falling 49.5% over the same period, highlighting the divergence in performance across issuers competing for space on the ledger.

A Growing Institutional BattlegroundThe concentration of value in $RLUSD reflects the broader momentum building around XRPL as an institutional tokenization venue. Tokenized real-world assets on XRPL have reached roughly $2.5 billion, part of a global onchain RWA market that Token Terminal data puts at $44.7 billion.

Ondo Finance's presence on the ledger has deepened significantly this year. Ondo Finance, working with JPMorgan's Kinexys, Mastercard and Ripple, completed a near-real-time cross-border redemption of its tokenized U.S. Treasury fund OUSG on the XRP Ledger, with the transaction settling in under five seconds.

Archax, a UK-regulated digital securities exchange, had committed to bringing $1 billion in tokenized assets onto the ledger by mid-2026.

A proposed new XRPL amendment would let institutions encrypt token balances and transfer amounts while still giving issuers, auditors, and regulators selective access, targeting the growing market for tokenized real-world assets on the network. That kind of privacy infrastructure could further attract regulated financial institutions to the ledger.

Ripple has framed XRPL as a compliance-first platform built for institutional deployment. With over 12 years of uptime and more than $1 trillion processed, XRPL is evolving into a full-service financial platform for regulated DeFi, helping institutions send and receive payments, issue credit, trade digital assets, and move real-world value onchain.

Sources:
The Coin Republic: 10 Million RLUSD Minted on XRP Ledger
CoinDesk: New XRP Ledger Amendments Target Tokenized Wall Street Assets
PR Newswire: Ondo, JPMorgan, Mastercard and Ripple Complete Tokenized Treasury Redemption