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Recent data from Coinbase Markets has revealed significant imbalances in XRP derivatives positioning. The current spot price of XRP stands at $1.31, notably lower than the levels at which the majority of bullish derivatives positions were initiated. This gap has drawn close attention to net-long exposure in the XRP market.

XRP derivatives skewed above spot priceA substantial volume of XRP short positions has congregated around the $1.49 and $1.50 price points, with the largest single cluster exceeding $20 million in notional value. In contrast, the bulk of long exposure in the derivatives market was established around $1.40, roughly 7% higher than the current market price. The skew in positioning highlights the vulnerability of net-long traders to any further downward moves.

Coinbase Markets identified that 97% of net-long notional exposure was opened at prices above the present spot rate. This insight is based on Glassnode’s net entry-price heatmap, which bins long and short positions by price level to depict the current state of derivatives exposure as of October 15.

The largest cluster of net-long XRP positions entered at $1.40, while the spot price remains at $1.31. This means that 97% of net-long notional was entered above today’s price.

Context for derivatives exposureThe 97% figure does not reflect the entire population of XRP investors but refers specifically to net derivatives exposure. Glassnode calculates this by taking the net difference between long and short positions at each identified price. A positive value at a given position indicates a predominance of longs, while a negative value means shorts outnumber longs at that level. The data does not represent potential liquidation thresholds, as those depend on individual margin, leverage, and collateral choices.

Shorts have gained dominance in this environment, with market structure currently favoring sellers. The charted entry prices also do not align with forced liquidation points, which can vary widely depending on leverage and risk management.

Potential price impacts and trader responsesThis arrangement in the derivatives market creates possible implications for XRP’s near-term price movements. With so many long positions entered significantly above spot, many traders may face pressure to close losing positions, potentially triggering further selloffs if the market declines. A cascading effect of margin closures could follow, reinforcing downward price pressure.

Alternatively, a move back toward $1.40 or higher could lead some traders to hold or expand positions, believing in a price recovery. The resolution of this clustering will likely influence overall volatility, depending on which way the price breaks next.

Active market monitoring is now critical for traders managing significant derivatives exposure. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.

For now, the large discrepancy between long entry prices and the current market rate means substantial uncertainty persists for highly leveraged positions. Market participants are watching for further shifts in derivatives positioning as XRP fluctuates at these key price thresholds.

The XRP Ledger (XRPL) is set to implement a new network amendment, fixCleanup3_4_0, following backing from 30 out of 36 trusted validators. The upgrade, projected to activate at approximately 09:34 UTC on October 23, surpasses the required threshold of 29 validator votes.

Technical update targets token permissions and infrastructure bugsThe fixCleanup3_4_0 amendment prioritizes technical improvements rather than introducing large new features. Its main focus is on resolving issues affecting token permissions, automated market makers, escrow mechanisms, and the infrastructure supporting future lending systems. Unlike XRPL’s recent batch upgrades, this change aims to correct flaws and safeguard the proper functioning of existing and pending features.

One of the key issues addressed involves the PaymentBurn permission that was recently rolled out as part of XRPL’s permission delegation model. Specifically, an unintended flaw allowed accounts with PaymentBurn privileges to create new trust-line or multi-purpose tokens under certain conditions. The XRPL team has cautioned against delegating PaymentBurn permission until the new amendment takes effect, as the upgrade will close this loophole by preventing certain payments from crossing a zero balance when that permission is exercised.

Official XRPL documentation advises, “Until the fixCleanup3_4_0 amendment is enabled, you should avoid delegating the PaymentBurn permission to any account.”

Alongside this revision, the update corrects issues relating to automated market maker clawbacks, token authorization processes, management of escrow reserves, handling of transaction signatures, and calculation methods involving Single Asset Vaults.

Some of these fixes address features not yet available on the public network, underscoring XRPL’s practice of releasing code ahead of actual network approval. Activation of such features still depends on further validator support.

Mini dictionary: Trusted validators, a select group of independent network participants responsible for voting on software upgrades and amendments to the XRP Ledger protocol. Their approval is essential for enabling or activating new features.

Lending protocol amendments fail to reach consensusIn contrast to the progress of the fixCleanup3_4_0 amendment, XRPL’s proposed native lending protocol is yet to gather enough validator support for activation. As of October 18, only 19 validators backed both the LendingProtocol and LendingProtocolV1_1 amendments, and SingleAssetVault received support from 21 validators—well short of the required 29 approvals.

If implemented, the lending framework would introduce fixed-term loans supported by pooled assets, with credit checks and risk assessments handled outside the blockchain infrastructure. Single Asset Vaults are designed to help users pool their funds, whereas LendingProtocol provides the core tools for creating and managing loans. The V1_1 version would add new vault types and changes in the way interest is accounted for.

Recently published validator analyses, including one from Coinpaper, indicate that the proposed lending amendments have consistently trailed the approval threshold, delaying any potential launch date for these features.

AmendmentValidators in FavorRequired VotesfixCleanup3_4_03029LendingProtocol1929LendingProtocolV1_11929SingleAssetVault2129This outcome highlights the XRPL amendment process, where technical readiness and actual network activation are distinct steps. Developers can include new functionality in the public codebase, but operational status depends on achieving broad validator consensus over a two-week period. If support falls to 80% or below, the activation timer resets.

Developers may integrate new features in code releases, but trusted validators must approve amendments before activation on the XRPL mainnet.

Growing toolkit for developers despite slow lending progressWhile the proposed lending system faces delays, recent XRPL reforms—including expanded account permissions and transaction batching—have continued to broaden the capabilities available to developers and fintech applications on the ledger. These changes are part of XRPL’s ongoing effort to support more sophisticated financial use cases beyond simple payments.

Speculation in a risk-off environment can cut both ways. 

At the moment, Ripple is the focal point of wild speculation. A post on X suggested that Evernorth, an XRP treasury company, may purchase $655 million worth of XRP next week. The social media post went viral, sparking market activity.

Bulls welcomed the news as a possible catalyst for an XRP rally in November, while skeptics argued that it was simply unsubstantiated rumor that could mislead the market.

As the below post shows, many users questioned the post, arguing that it was just a means to increase engagement. Either way, this rumor may affect XRP’s market performance.

With Evernorth already in the spotlight over its recent XRPN listing, any news tied to the firm could trigger fresh speculation around XRP.

Source: X
Notably, the timing of this speculation could hardly be worse.

Technically, XRP is among the worst-performing assets this month. It is down 13%, erasing all gains made in September. The altcoin has slid to $1.25, its September low, testing this level as a critical support zone.

A break below it is likely to spark another wave of selling, especially as market demand continues to weaken.

Reinforcing this trend, spot XRP ETFs had their first negative week since July, reports SoSoValue. According to the data, spot XRP ETFs had a net outflow of $1.84 million last week, with only one day of inflows.

This marked the end of a 13-week consecutive weekly inflow streak, suggesting that institutional investors’ appetite for the asset may be cooling off.

So, given the recent weakness in the structural setup of Ripple’s [XRP] market structure and the amount of sell pressure on the on-chain data of major CEXs, could the new hype around Evernorth end up being a bull trap?

XRP bull rally hopes rise on Evernorth rumors
Nothing conveys the market’s reaction to the hype better than XRP’s long/short ratio.

According to data from CoinGlass, XRP’s long/short ratio has increased to 1.06, hitting its highest level in more than two weeks. This suggests traders are leaning bullish, betting on a possible bull run initiated by Evernorth’s alleged purchase of $655 million in XRP.

However, with XRP’s on-chain metrics flashing bearish signals, the overall market environment still risk-off, and the institutional buying showing signs of waning, this bullish positioning appears to be highly speculative.

Thus, if the rumored purchase fails to materialize or insufficient buying pressure from institutions continues, it can trigger a bull trap at XRP’s $1.25 level, leaving late longs highly vulnerable.

Source: TradingView (XRPN.USD)
Moreover, Evernorth’s own technical setup is not looking entirely bullish either.

According to the chart above, XRPN had a sharp post-launch rally, rising from $15 to $53. However, at press time, the token was trading 5% lower than its opening price, showing a very speculative market driven by the hype of the launch.

While it does not rule out Evernorth’s ability to accumulate XRP, it does pose questions about whether the hype around the firm would be able to drive buying pressure for XRP.

Taken together, these signals paint a mixed picture for XRP. While Evernorth rumors are fueling bullish bets, declining ETF net inflows, aggressive selling pressures, and the inability to hold $1.25 suggest the broader setup remains bearish.

Unless the hype translates into confirmed accumulation, XRP could fall into a bull trap, putting the next key support at $1.20 in focus.

Final Summary

Evernorth’s rumored $655 million XRP purchase has boosted market hype, but weak ETF flows and heavy selling pressure raise bull trap risks.

XRP is struggling to hold $1.25. If it breaks below this level, the price could fall toward $1.20.

The severe market volatility that affected XRP's price movement last week has also extended to its ETF ecosystem as both retail and institutional investors appear to be taking caution.

The broad XRP ETF market has posted its worst weekly performance in over three months, drawing attention from market analysts about how this could affect XRP's price potential.

Over $1.84 million exit XRP funds last weekAccording to the latest data from SosoValue, XRP ETFs have recorded a net outflow of over $1.84 million over the last week.

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While this marks the first weekly outflow the funds have registered since July 7th, it has come at a time when the market is facing a downturn, raising concerns about whether investor demand for the XRP investment product is beginning to weaken. 

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Notably, the reversal has come after XRP ETFs maintained a steady streak of consistent capital inflows for 13 consecutive weeks. 

As such, the XRP funds have broken the bullish trend with a negative performance this week after seeing sustained investor interest in gaining exposure to the XRP investment product.

XRP demand stalls as price retests $1.30While the performance of the XRP funds provides a bearish outlook for the asset, XRP's recent price movements have contributed to the uncertainty surrounding its short-term outlook.

Despite showing signs of a potential price recovery in the previous day, XRP is back in the red and has once again retested the $1.30 level, placing market sentiment under renewed pressure.

Ripple’s RLUSD stablecoin continues to attract significant attention from both XRP supporters and institutional analysts, with fresh analysis highlighting its importance within the Ripple ecosystem. The crypto researcher SMQKE presented findings on how RLUSD strategically complements XRP, particularly in the areas of decentralized finance and broader institutional engagement.

RLUSD and its strategic roleThe analysis positions RLUSD as an asset intended to work alongside, rather than against, XRP. By leveraging RLUSD, Ripple aims to strengthen market presence in low-liquidity environments. The new stablecoin is designed to operate in a way that supports XRP’s key functions, furthering its adoption across DeFi and among institutional investors.

Management of RLUSD reserves was assigned to Standard Custody, which became part of Ripple through an acquisition in 2024. This move seeks to assure both transparency and stability for those using the stablecoin.

RLUSD is structured to complement XRP and expand its adoption, not to compete with it.

Progress in real-world asset tokenizationRipple’s efforts have also extended into real-world asset (RWA) tokenization, an area gaining traction among leading financial institutions. Through a partnership with Archax, Ripple has advanced the integration of hundreds of millions of dollars worth of tokenized assets onto the XRP Ledger, positioning itself among established players like BlackRock, JPMorgan, and Goldman Sachs, who have also moved toward blockchain adoption.

Tokenized assets require robust infrastructure in terms of both liquidity and stability. Within this structure, RLUSD is tasked with fulfilling the demand for stability, while XRP focuses on transaction settlement and liquidity management. These two assets are designed to perform separate roles but jointly enhance the overall efficiency of Ripple’s solutions.

In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, switching between multiple apps for trading tools and news can become costly for investors. As a result, more traders are turning to privacy-first platforms like CryptoAppsy, which consolidate real-time charts, news, portfolio tracking, and macro data into one interface, with no account required.

The impact of XRP ETFsMonica Long, referenced in the analysis, expressed confidence in the prospects for an XRP exchange-traded fund, citing regulatory clarity from the United States as a driving force. XRP and Bitcoin are the only digital assets with this level of explicit regulatory recognition in the country, which Long argued would create favourable conditions for an XRP ETF filing.

This view was validated when the first spot XRP ETFs received approval in late 2025. The launch of these products gave traditional investors a new gateway to gain exposure to XRP and removed several longstanding access barriers for large institutional participants.

Community members have discussed the integration of RLUSD within current payment channels. One observer emphasized that placing RLUSD alongside conventional systems such as ACH and wire transfers through shared APIs could expand the ledger’s utility while retaining XRP’s central role as a bridge asset.

Others focused on RLUSD’s US dollar peg, expressing concerns about maintaining stability should the dollar weaken. Some analysts argued that the ongoing development of network effects and broader blockchain adoption remains an area many market participants have yet to fully recognize.

By addressing stability and leveraging liquidity, RLUSD and XRP are positioned to strengthen Ripple’s footprint in tokenized finance and institutional adoption.

Ripple CEO Brad Garlinghouse has explained why the company contributed a significant amount of XRP to Evernorth, the XRP treasury company that recently debuted on Nasdaq. Speaking at Nasdaq on the company’s listing day, he said the move fits Ripple’s long-standing approach of investing in its own ecosystem, and that his trust in Evernorth’s leadership sealed the decision.

Why Ripple backed Evernorth

Asked why Ripple put its tokens into Evernorth, Garlinghouse said supporting the community has been part of Ripple’s strategy “since really its inception.” That support has sometimes reached beyond XRP, he added, because Ripple believes in “a multi-chain world.”

The deciding factor was Evernorth CEO Asheesh Birla, who previously worked under Garlinghouse at Ripple and later sat on its board. “When Asheesh raised his hand and expressed interest, that to me cemented our interests,” Garlinghouse said.

He described Birla as “an extraordinary leader” who has shown “unique acumen around talent, around strategy,” both at Ripple and now at Evernorth.

How it helps XRP

Garlinghouse said Evernorth’s listing strengthens the XRP ecosystem in three ways:

Liquidity and trust: The listing “furthers liquidity” and “trust in the XRP ecosystem,” he said.New investors: A listed company opens XRP to people who cannot easily access crypto markets directly. “Just that is a major step,” he said.More than buy-and-hold: Evernorth plans to use on-chain and off-chain strategies to earn yield and build institutional products, which he said “positions XRP to perform really well.”He also explained how hard it has been to reach this point. “There were a couple hundred various DATs trying to get public,” he said, referring to digital asset treasury companies. “The fact that we are here today with XRP trading is a big deal.”

“Ripple was on to something”

Garlinghouse reflected on Ripple’s years as an outsider in crypto. Many early crypto users held a strongly anti-establishment view, and Ripple drew criticism for building for banks and traditional finance.

“For a bunch of years, Ripple was a controversial contrarian because we were leaning into TradFi as our core customer set,” he said. Now the market has come around, and “a lot of other players in the industry recognise that hey, maybe Ripple was on to something there.”

The hard years are not over

Garlinghouse stopped short of declaring victory. “I’m not ready to say the hard years are behind us,” he said.

Still, he believes markets are underestimating the shift in the US. The United States accounts for about 22% of global GDP and spent years “leaning out” on crypto, he said. Now its institutions are “leaning in like they never have before.”

Story Ends Here

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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Read the Next News

XRP Ledger developers implemented an emergency security fix after discovering a vulnerability that could have enabled attackers to generate spendable XRP beyond the predetermined supply limit. This decision bypassed the protocol’s standard two-week validator approval process, a move that has stirred debate within the XRP community about the balance between security and decentralization.

Security Patch Addresses 11-Year-Old VulnerabilityOn September 25, the development team released a critical update after identifying an integer overflow flaw in the XRPL payment engine. This vulnerability, which has existed since 2015, could have allowed specially crafted transactions to create surplus XRP tokens unrelated to the amount actually paid by a sender.

Investigators reported no evidence that the vulnerability had been exploited on the public network. However, developers emphasized that the potential risk to the XRP supply warranted immediate action.

Developers explained that the threat could not wait for the traditional validator voting period, noting that “publishing the patch and leaving the flaw exposed would have given attackers enough information to reproduce and exploit it.”

Instead of following the typical governance process, the fix was applied instantly on each server upon upgrading to xrpld 3.4.1. This approach differed from the usual amendment procedure, where at least 80% of trusted validators must support changes over two consecutive weeks.

Mini dictionary: Integer overflow, a software bug that occurs when a calculation produces a number larger than the maximum value a variable can store, causing unpredictable behavior or exploits in computer systems.

Deviation from Normal Governance Raises ConcernsUnder normal XRPL procedures, protocol changes affecting transaction processing go through extensive validator review to ensure the stability and consensus of the network. By skipping this step, the emergency patch introduced a brief period of uneven transaction validation between servers running different software versions.

During this interval, upgraded servers would have rejected malicious transactions, while any servers still running older software could have accepted them, potentially disrupting ledger validation. However, no incidents were detected during this window.

In contrast, a recent Batch security fix from the same development group adhered to the standard amendment process, activating on October 9 through a typical network-wide consensus.

Type of FixDeploymentActivation DateEmergency security patchInstant (server upgrade)September 25Batch fixValidator vote (amendment)October 9Debate Over Developer Authority and DecentralizationThe rapid deployment triggered discussion about the role of developers and validators in urgent network situations. Some have raised concerns about distributing patched software in advance of public disclosure, which could be perceived as granting developers excessive influence over the protocol.

Supporters argued that immediate coordination was necessary to prevent potential exploitation. The XRPL Foundation, a non-profit entity supporting network development and maintenance, rejected suggestions that validator operators were compelled to update, emphasizing the independence of each operator’s decision.

The XRPL Foundation asserted, “Validator operators were not forced to install the patch. Each made decisions independently, and no evidence emerged of forced compliance.”

Meanwhile, planned lending functionality updates for XRPL continue to follow the regular governance process, underscoring that routine improvements still depend on validator consensus.

Developers have insisted that bypassing the traditional amendment process should remain an exception, reserved only for severe security issues, and not evolve into standard practice for protocol changes.

The episode has reassured XRP holders that the immediate risk has been resolved, as the vulnerability was patched and no exploitation has been detected. However, it has also prompted a wider conversation about how the network can remain both secure and decentralized in the face of unforeseen threats.

David Schwartz, one of the original architects of the XRP Ledger, says the network’s long-term health depends on bringing in more independent players, so that it does not end up serving Ripple alone.

Speaking in an interview marking Evernorth’s Nasdaq debut, Ripple’s CTO Emeritus said new participants such as the XRP treasury company help guard against a risk that even well-meaning builders face. Schwartz is a strategic adviser to Evernorth and sits on its board.

What to know:

Schwartz says more voices are needed in XRP Ledger governance so the network is not seen as “a tool to serve Ripple’s interests only.”He sees no significant technical gaps holding back banks or asset managers.The real obstacles are liquidity, on- and off-ramps, and connecting the ledger to existing financial systems.A governance warning from the ledger’s co-creator

Schwartz said most of the XRP Ledger’s technical problems are solved. The harder question now is whose needs the ledger should serve.

“You can build a blockchain that does one thing, or you can build a blockchain that does something else,” he said. Figuring out which problems to aim it at is the challenge.

That is where a single dominant player can go wrong. “Even if you have the best intent, it’s very easy to convince yourself that what’s good for you is what’s good for everyone,” he said.

Schwartz said Evernorth’s plan to run validators and take part in the ledger’s development adds needed diversity. That matters, he said, for people’s ability to adopt the XRP Ledger “and be confident that it’s not going to become a tool to serve, like, Ripple’s interests only.”

“Going to the moon is a solved problem”

Schwartz used a space analogy to describe where the XRP Ledger stands. Humans reached the moon more than 50 years ago, he noted, so the technology is proven. But actually going there today would still be hard.

“Being fantastic technically is not sufficient to be useful in the real world,” he said.

He pointed to liquidity provision and on- and off-ramps as the areas that will do the most for the ledger, and also the ones that carry the most risk. Regulation was once a major barrier, but he said those “headwinds have turned into tailwinds.”

Lending is live, but DeFi is not yet connected

Native lending is already live on the XRP Ledger, Schwartz said. What is missing is integration with the wider DeFi ecosystem.

Most activity today centres on tokenizing real-world assets, which he called “a necessary piece of plumbing.” The next step is letting people move money in and out of those assets, borrow and manage their holdings. “People need to be able to borrow money. They need to have sensible investments,” he said.

He added that holding XRP on a corporate balance sheet is “very challenging” without a listed vehicle like Evernorth.

Story Ends Here

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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Read the Next News

XRP’s supply reduction mechanism has attracted renewed attention amid a surge in decentralized finance expansion and increased transactional activity on its blockchain. The network’s move to support more DeFi services, including lending, multi-currency liquidity solutions, and direct cross-border settlements through banking partnerships, could significantly expand XRP’s market presence.

Supply reduction draws analyst focusSome analysts have highlighted the XRP burning mechanism as an underappreciated element in the asset’s long-term outlook. With transaction volumes on the XRP Ledger reaching record levels, more tokens are being permanently removed from the circulating supply every day. Dr. Kamilah Stevenson, an industry researcher, noted that as supply diminishes daily, the network experiences what she described as a “dual force” driving potential price appreciation for XRP.

Technical analysts such as ChartNerd and Egrag Crypto have projected ambitious scenarios in which XRP could reach $10, referencing historical price patterns and trading indicators. Although Dr. Stevenson did not specify price targets, she indicated that the implications of the burn mechanism are significant for anyone tracking the altcoin’s development.

“Here’s what most people miss: every single transaction on the XRP ledger burns XRP. Not sent somewhere. Not stored. Gone. Permanently.”

Dr. Stevenson argued that increasing institutional adoption combined with the supply burn creates what she described as an ideal setting for long-term bullish momentum on XRP, contingent on strong user engagement across the network.

Burn statistics and network metricsAccording to recent data compiled by CryptoTuts, the aggregate amount of XRP burned rose from 14.38 million on September 15 to 14.41 million by October 15, translating to 24,745 XRP eliminated within a 30-day span. On average, this equates to about 825 XRP destroyed daily. Over a seven-day period, the burn tally reached 2,696 XRP.

DateTotal XRP Burned (Millions)Summary (XRP Burned)Sept. 1514.38–Oct. 1514.41+24,745While the daily figures represent a small portion of the nearly 100 billion XRP total supply, proponents claim that sustained high network use could eventually accelerate supply contraction.

If the current pace were to be maintained for an entire year, approximately 301,000 XRP would be removed from circulation—amounting to just 0.0003% of the total supply. Documentation for the XRP Ledger explains that burning happens through transaction fees designed to prevent spam and defend against denial-of-service attacks.

The minimum transaction fee, referred to as “drops,” equals 0.00001 XRP per transaction. With 100,000 transactions at this minimum, one XRP is destroyed. A billion minimum-fee transactions would burn 10,000 XRP. This drop-based fee system may pressure prices higher during periods of elevated network activity.

Ripple, the fintech company behind the XRP Ledger, releases a substantial volume of XRP tokens from escrow into circulation every month as part of its operating protocol. A regular monthly release of 1 billion tokens has the potential to add significant market supply if not matched by increased demand.

In theory, deflationary token models—when balanced by healthy demand—have the potential to raise the asset’s price. The scale of this effect depends on network utility, transaction levels, and broader market sentiment.

Mini dictionary: XRP burning mechanism: On the XRP Ledger, every transaction requires a small fee paid in XRP, known as a “drop.” This fee is not paid to any entity but is permanently destroyed, meaning the total supply of XRP decreases by the amount of transaction fees consumed, providing a deflationary pressure on supply.

Ripple’s monthly escrow releases and ongoing burn rates remain key variables as institutional interest and DeFi activity continue to shape the outlook for the cryptocurrency.

Stripe’s expanding role in both cryptocurrency infrastructure and artificial intelligence-driven shopping is drawing new connections between payments, digital assets, and automated agents.

Recent developments include a partnership involving Stripe-owned Privy and Ripple to support embedded wallets on the XRP Ledger, continued efforts to link AI shopping interfaces more tightly with payment flows, and comments from a senior Stripe executive on the potential disappearance of traditional checkout pages.

Ripple and Privy announced a collaboration to bring Privy’s wallet infrastructure to the XRP Ledger.

The integration allows developers to create and manage wallets on the network programmatically, sign transactions, and handle assets such as XRP and Ripple’s RLUSD stablecoin without building the underlying wallet systems themselves.

Embedded wallets operate inside applications, so users can hold and transfer funds without installing a separate crypto wallet or managing seed phrases during everyday use.

Users retain the option to export private keys and recovery phrases for portability.

Server-side wallets are also supported, enabling AI agents to hold funds and complete payments, including through the x402 protocol designed for software-to-software transactions.

Privy, which Stripe acquired and continues to operate as a separate product, described the move as facilitating stablecoin payments, fintech applications, and agentic commerce on the ledger.

Ripple executives noted the network’s existing scale—more than 8 million funded accounts and substantial cumulative value transferred—as a foundation for these use cases.

The companies indicated further enhancements, such as policy controls and gas sponsorship, are planned.

Separately, Stripe has been extending the links between AI-powered product discovery and payment completion.

One recent example is Constructor’s launch of Agentic Checkout, which embeds Stripe payments—including its Link digital wallet—directly into onsite AI shopping agents.

Shoppers or agents can ask questions, receive recommendations, refine selections, and complete purchases within the same conversational interface on a retailer’s site or app, without a separate checkout handoff.

Stripe has also expanded Link support for personal AI agents from partners such as Meta (via its Muse assistant), allowing agents to initiate purchases using stored credentials or single-use instruments while keeping user details protected and requiring approvals.

Broader infrastructure efforts include the Agentic Commerce Protocol (developed with OpenAI) and the Agentic Commerce Suite, which help merchants expose product catalogs and accept agent-initiated payments across AI platforms.

These steps aim to reduce friction between finding a product and paying for it as agents take on more of the shopping journey.

In an appearance on the A16z Show, Stripe president of technology and business Will Gaybrick suggested that conventional checkout pages may eventually vanish as AI commerce grows.

He argued that even a relatively modest version of agentic commerce could eliminate the need for users to navigate a dedicated checkout screen, potentially allowing purchases directly from a product display.

Gaybrick noted open questions about the precise form agent-to-merchant or machine-to-machine transactions will take, while pointing to existing quick-pay tools such as Stripe Link and Shopify’s Shop Pay as early steps that already streamline the process.

He described an internal shift at Stripe toward viewing the company as a multi-product platform rather than primarily a payments provider with added features.

Stripe leadership has separately expressed optimism that a growing share of online commerce will involve agents acting on behalf of users or other systems.

The announcements illustrate Stripe’s dual focus on crypto-enabled payments infrastructure through Privy and on reducing steps between AI-assisted discovery and settlement. How quickly agentic flows become mainstream will depend on user trust, merchant adoption, and the maturation of supporting protocols and wallets.

PANews, October 16 - According to SoSoValue data, yesterday (October 15, US Eastern Time), US XRP and ZEC spot ETFs saw single-day total net outflows of $104,500 and $14.7633 million respectively, for a combined net outflow of $14.8678 million; NEAR spot ETFs saw a single-day total net inflow of $1.126 million.

For XRP, Franklin XRP ETF (XRPZ) saw a single-day net inflow of $3.6448 million, with cumulative historical net inflows of $513 million; Bitwise XRP ETF (XRP) saw a single-day net outflow of $3.7494 million, with cumulative historical net inflows of $685 million. As of press time, XRP spot ETFs had total net assets of $1.528 billion, a net asset ratio of 1.81%, and cumulative historical net inflows of $1.803 billion.

For ZEC, only Zcash ETF (ZCSH) recorded a net outflow on the day, amounting to $14.7633 million, with cumulative historical net inflows of $164 million. As of press time, ZEC spot ETFs had total net assets of $674 million, a net asset ratio of 3.21%, and cumulative historical net inflows of $164 million.

For NEAR, only Bitwise NEAR ETF (NRR) recorded a net inflow on the day, amounting to $1.126 million, with the fund's cumulative historical net inflows at $80.4407 million. As of press time, NEAR spot ETFs had total net assets of $86.1425 million, a net asset ratio of 1.24%, and cumulative historical net inflows of $80.4407 million.

Cover image via depositphotos.com

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Speculative traders in the derivatives market launched a large-scale counterattack to defend the XRP token from a prolonged decline after the release of tough macroeconomic data in the US. 

According to the analyst 'DarkFrost' from CryptoQuant, an abnormal capital inflow was recorded on Binance alone as key support levels broke: more than $184 million flowed into long contracts within a few hours. This allowed XRP to quickly recover from its drop below $1.30 and show a local rebound of 5%.

XRP Taker Buy Volume spikes on Binance as price dips below $1.30, Source: @darkfost_coc / CryptoQuant
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The massive wave of selling began after XRP corrected by 22.5% from its September high of $1.65. Pressure on the cryptocurrency sector came from US consumer price (CPI) and producer price (PPI) indices that were "hotter" than expected, which triggered a drop in US stock indices. 

However, some large players viewed XRP's drop below $1.30 as an extreme market asymmetry and opened positions against the current bearish trend.

All the money went to Binance (literally)On-chain data confirms that the defensive wave of liquidity was isolated and bypassed other major exchanges, concentrating in one place:

Abnormal volume on Binance: In the peak hour, the volume of market buy orders (Taker Buy Volume) on the exchange exceeded $73 million. Several subsequent hourly intervals brought in another $35 million each, forming a total of $184 million in speculative capital.

Low activity on competing exchanges: Other major exchanges ignored the move. In the same peak hour, the volume of similar buys on Bybit was only $1 million, and on OKX, less than $451,000.

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Despite the short-term success of the strategy and the subsequent 5% price rise, analysts point to high risks for the market. The spike in the Taker Buy Volume metric in the derivatives market reflects the opening of leveraged positions rather than long-term interest from spot investors. 

The high concentration of margin contracts in a narrow price range on Binance makes XRP highly vulnerable to cascading liquidations and guarantees increased volatility in the coming days.

XRP traders who bet on higher prices are mostly losing money right now. Data from Hyperliquid perpetual futures trackers shows that up to 96.1% of XRP long positions were opened above where the token currently trades.

A post on X flagged the same pattern, noting that most net-long XRP positions were entered above the current price.

A volatile few days for XRP Between October 13 and 15, 2026, XRP traded in a range of approximately $1.28 to $1.50. It then settled somewhere around $1.30 to $1.34.

As of October 15, the token’s 24-hour range ran from $1.28 to $1.39.

There is one notable exception. A large long position worth approximately $47 million was opened at around $1.13, and it has stayed profitable through the recent turbulence.

Derivatives data paints a mixed picture On OKX, XRP open interest fell by approximately 29.7% between September 22 and October 14. The count dropped from 150.4 million contracts to 105.7 million.

Yet the traders who remain are leaning heavily bullish. The long/short account ratio reached 3.6:1 by October 14, meaning 360 accounts were long for every 100 short. That reading was the highest since mid-August 2026.

The coin-margined long-position share among top traders climbed to 84.2% by October 14, up 4.8 percentage points. Coin-margined contracts use XRP itself as collateral rather than a stablecoin. That setup amplifies exposure, because a falling price hits both the position and the collateral backing it.

Why the positioning matters With up to 96.1% of Hyperliquid long entries above spot, further declines could trigger liquidations. Each forced sale adds selling pressure, which can push prices lower and threaten the next batch of positions. The 3.6:1 long/short ratio suggests there is plenty of long exposure available to unwind if things go wrong.

Broader market context suggests continued inflows into XRP exchange-traded funds and declining exchange reserves, which hints at ongoing demand outside the leveraged futures market.

XRP’s recent low sat around $1.28, and a break below that zone could test how much margin these accounts actually have. Accounts with deeper pockets and better entries, like the $47 million position opened near $1.13, have more room to ride out swings that would wipe out smaller players.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

According to a recent Bloomberg report, Ripple is broadening its reach in the traditional finance space by opening up access to perpetual futures for stocks, commodities, and other traditional assets for institutional investors.

Ripple's prime brokerage arm, Ripple Prime, is launching the new service that will give institutions access to over 100 markets, including equities, stock indexes, exchange-traded funds (ETFs), and commodities.

The new offerings come at a time of explosive growth in perp contracts on real-world assets, with open interest across several major platforms jumping from near zero to around $9 billion in the last year.

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Unlike traditional futures contracts, perpetual contracts don't expire, so users can hold leveraged positions without needing to roll them over into new contracts.

Ripple expands Wall Street ambitionsThe new products are being rolled out via Trade.xyz, which is a large trading platform for perp contracts on traditional assets on the decentralized Hyperliquid platform.

Earlier this year, in February, Ripple Prime launched crypto perpetual futures as part of its growing efforts to offer a full trading solution for institutional investors.

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The new offering includes features like cross-margining, where investors can leverage the same collateral across different positions instead of needing separate margins for each trade.

Per Michael Higgins, the international CEO of Ripple Prime, this new setup could allow institutional users to more effectively manage their capital and access new liquidity pools.

At the same time, Higgins stressed that with this new offering, institutions can gain exposure to these markets on a "more regulated" infrastructure.

Perps futures grow in appeal to institutionsThe explosion in growth for real-world asset perpetual futures has been drawing increasing interest from hedge funds and professional market makers.

As Higgins pointed out, institutional traders are now looking into various strategies around using these new instruments.

On the one hand, some investors are looking to pursue basis trades by taking positions on perps and their underlying assets to exploit price discrepancies. That would let them avoid general market exposure.

Meanwhile, Higgins indicated that traditional hedge funds are on the cusp of being able to get direct access to tokenized real-world assets.

Key Takeaways

Donald Trump named XRP, Solana and Cardano in his March 2025 cryptocurrency reserve announcement, triggering a market rally.
His executive order ultimately prioritized Bitcoin while placing other cryptocurrencies under a separate US Digital Asset Stockpile.
The government cannot actively purchase XRP for the stockpile under the existing order without additional executive or legislative action.

President Donald Trump once appeared to give XRP a major political endorsement, naming the Ripple-linked cryptocurrency among five digital assets proposed for a US crypto reserve.

But more than a year later, an important question remains: Does Trump actually support XRP, or was the announcement largely political messaging?

The answer lies in the difference between Trump’s March 2025 social media announcement and the executive order that followed.

While the president publicly named XRP, the administration’s formal cryptocurrency strategy established a clear preference for Bitcoin.

 
Why Did Trump Include XRP in His Crypto Reserve Announcement?
On March 2, 2025, Trump announced on Truth Social that his proposed US crypto reserve would include XRP, Solana (SOL) and Cardano (ADA).

He subsequently added Bitcoin (BTC) and Ethereum (ETH), describing the two largest cryptocurrencies as central to the reserve.

The announcement triggered an immediate market reaction.

According to Reuters, the cryptocurrency market gained more than $300 billion in value within hours, while Bitcoin jumped over 11% and Ethereum climbed approximately 13%.

However, controversy emerged over how XRP entered the discussion.

In May 2025, Politico reported that a lobbying firm previously working for Ripple had helped craft Trump’s original crypto reserve message.

Trump was reportedly angered after learning about the firm’s Ripple connection.

The account raised questions about whether XRP’s inclusion reflected a carefully developed government strategy or outside lobbying influence.

Bitcoin Reserve vs XRP Stockpile: What Trump’s Executive Order Actually Says
On March 6, 2025, Trump signed an executive order establishing two separate government cryptocurrency holdings structures.

The distinction matters.

The Strategic Bitcoin Reserve holds government-owned Bitcoin obtained through forfeitures, with provisions for additional budget-neutral acquisitions.

The US Digital Asset Stockpile, meanwhile, covers other cryptocurrencies acquired through criminal or civil forfeitures.

Unlike Bitcoin, XRP cannot be purchased for the stockpile under the existing executive order without further executive or legislative action.

The order also does not explicitly name XRP, Ethereum, Solana or Cardano as mandatory holdings.

Instead, the stockpile’s composition depends on the digital assets the government legally obtains.

Treasury has discretion over managing those assets, including potential sales, whereas Bitcoin deposited in the strategic reserve is intended to remain held.

Is Trump Bullish on XRP, and Could the US Government Buy It?
Trump’s announcement demonstrated political recognition of XRP, but it did not establish a government investment commitment.

That distinction is especially important for XRP price predictions.

A government purchasing program could potentially create additional demand. Simply retaining confiscated tokens does not produce the same market effect.

As of October 2026, publicly available official information does not establish the existence of a dedicated federal XRP buying program or a verified total of XRP held in the stockpile.

For Ripple and the broader XRP ecosystem, regulatory clarity and institutional adoption may therefore matter more than Trump’s original announcement.

The administration’s crypto-friendly direction could support industry development, but it does not guarantee XRP purchases, price appreciation, or preferential treatment.

The bottom line: Trump publicly backed XRP’s inclusion in a proposed crypto reserve, but his implemented policy gives Bitcoin a fundamentally different status. Until Washington authorizes XRP purchases or establishes a more explicit policy, claims that the US government is actively accumulating XRP remain unsupported.

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The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.

Dr. Guneet Kaur is a senior editor at CCN.com and a Science Fellow at Exponential Science. She is a fintech and blockchain expert with extensive experience in digital finance education, blockchain ecosystems, and cryptocurrency markets. She has worked with global media such as Cointelegraph, as well as education and blockchain platforms, to design and lead strategic content and learning initiatives. As an educator and assessor for top-tier executive programs, she bridges real-world fintech trends with academic insight.

Dr. Kaur is also a published researcher and peer reviewer across fintech and data science journals, including Financial Innovation Journal and International Journal of Big Data Intelligence and Applications. Her work spans data-driven analysis, Web3 innovation, and technical content development. With a strong foundation in both industry and academia, she translates complex financial technologies into practical applications, empowering learners, professionals, and institutions across the rapidly evolving digital finance landscape.

TLDR

Firelight, a DeFi cover protocol on Flare, went live on Oct. 6 and automatically moved existing staked FXRP into active cover.
Staked funds can now be used to pay losses at covered vaults, starting with Sentora’s USD Protected and Protected RWA Vaults.
Withdrawals now take 30 to 60 days, and new vault rewards stop as soon as a holder asks to unstake.
The first three cover orders allocated $38 million in cover and charged about $56,913.70 in premiums.
XRP fell to an intraday low of $1.32 on Oct. 14 after inflation data came in above expectations.

Firelight, a decentralized finance (DeFi) cover protocol built on the Flare network, went live on Oct. 6. The launch automatically moved existing staked FXRP into the protocol’s active coverage phase.

FXRP is an XRP-backed token used on Flare. Holders who had already staked it did not need to take any action for their funds to start backing cover.

Firelight lets crypto holders stake assets that help protect DeFi vaults against defined failures. In return, stakers earn rewards funded by fees that vault operators pay for cover.

The first live integrations are Sentora’s USD Protected Vault and Protected RWA Vaults. Firelight is also partnered with Veda, a vault infrastructure provider.

How Cover and Claims Work
Firelight covers events such as smart contract exploits, oracle failures, governance exploits, bad debt, depegs and redemption failures. Each event must be reviewed before any payout is made.

A five-firm Risk Consortium made up of Hypernative, Native, Credora, Cyfrin and GFX Labs validates each claim. Security partner ZeroShadow publishes an exploit report first.

When a claim is confirmed, losses are first paid from a protocol-owned stablecoin reserve called the First-Loss Buffer. Any remaining loss is spread across stakers based on the size of their positions.

The wallet Firelight lists as its buffer held about 1,000,002.59 USDT0 on Oct. 14, according to CryptoSlate. Rewards that have compounded into a staker’s position face the same loss risk as the original deposit.

Longer Wait to Withdraw
Under Firelight’s current rules, exits take 30 to 60 days. New vault rewards stop as soon as a holder requests to unstake.

The funds keep backing cover for the rest of the current 30-day period. During the next period, claims tied to the earlier backing time can still reduce what the holder gets back.

Firelight’s launch post said stakers keep earning until they fully exit. Its more detailed withdrawal rules and vault code end new rewards when the unstake request is made.

The first three cover orders settled on Oct. 6. They allocated a combined $38 million in cover and charged about $56,913.70 in premiums.

Two of those orders were for Sentora’s vaults, with $2.5 million for the USD Protected Vault and $5 million for the RWA Vault. Premiums paid in stablecoins are converted to FXRP and added to stakers’ positions.

Records show 9,245.46 FXRP sent to the vault from premium sales on Oct. 6, 8 and 12. Another 14,045.40 FXRP was recorded as incentive transfers on those dates.

Separately, Firelight set aside a fixed 230,000 FXRP for early contributors, shared based on Firelight Points. This is a one-time budget, not a recurring source of income.

Firelight is incubated by Sentora and maintained by Sentinel Labs. It raised $8 million in seed funding led by Gumi Cryptos Capital, and its contracts were audited by OpenZeppelin, Coinspect and 0xMacro.

DefiLlama showed about $69.7 million in total value locked in Firelight as of Oct. 14. A blockchain explorer recorded about 51.13 million FXRP in the vault, including assets waiting to be withdrawn.

On the same day, XRP fell to an intraday low of $1.32 after inflation data came in above expectations. A lower XRP price reduces the dollar value of the capital backing Firelight’s cover.

XRPL Commons has announced early access to the XRP Ledger’s proposed native lending tools at its Oct. 24–25 New York hackathon, with more than 400 builders registered for the 36-hour event while validator voting continues.

Summary

More than 400 builders have registered for the New York event, according to XRPL Commons.
Developers will test lending and vault tools before the proposed amendments reach mainnet.
Four development tracks offer more than $40,000 in prizes and access to incubation.
Activation requires sustained validator support, with no fixed launch date for the lending proposals.

XRPL Commons, the Paris-based nonprofit supporting XRP Ledger development, said participants in its AI & Fintech XRPL Hackathon will build lending applications using test versions of XLS-65 and XLS-66. The organization named Ripple, the XRPL Foundation, Mastercard, Amazon Web Services, Ledger and QuickNode as partners backing the event.

With the amendments still awaiting approval, the organizer said teams will work in a test environment rather than launch native lending products on the main network. Ripple has already made the proposed protocol available for developers to test.

XRP Ledger lending still depends on validator approval
Under the proposed framework, XLS-65 would introduce Single Asset Vaults, allowing several depositors to pool one asset, such as XRP or Ripple’s dollar stablecoin RLUSD. The design gives each depositor shares representing their portion of the pool, according to XRPL Commons.

XLS-66 would use those pooled assets to fund fixed-term loans. As described in the lending proposal, borrowers and designated loan managers would agree on interest, repayment schedules, and other terms, while the ledger would record and manage the resulting credit arrangements.

Rather than require borrowers to lock up assets worth more than their loans, the proposed system relies on credit assessments outside the blockchain. According to the protocol’s design, a first-loss capital buffer can absorb an initial portion of losses when a borrower defaults.

For applications using the proposed features, XRPL Commons said lending could operate directly on the ledger without a bridge to another blockchain or a separately deployed smart contract.

“Developers have an opportunity to bring proven DeFi models to the XRP Ledger—and build financial applications that have yet to move on-chain,” said Odelia Torteman, head of digital assets at XRPL Commons.

Torteman said the proposed vault and lending functions would add a credit layer, creating ways to use XRPL-based assets “without bridges or custom smart contracts.”

As crypto.news reported on Aug. 10, Ripple’s validator backed both lending amendments. Under the network’s amendment rules, however, proposals must maintain support from more than 80% of trusted validators for two consecutive weeks before activation.

XRPL documentation describes that voting process as the mechanism for introducing changes to the core protocol. The hackathon announcement sets no activation date, leaving participating teams to develop against test versions while validators make their decisions.

Lending software changes add defined vault periods
The lending proposals have also undergone changes beyond the original vault and loan framework.

In coverage published on Sep. 18, XRPL developers’ version 3.4.0 lending changes included a separate amendment called LendingProtocolV1_1. According to the release documentation cited in that report, the amendment introduces closed-ended vaults with defined periods for deposits, investment, and redemption.

Under Ripple’s technical documentation, deposits and withdrawals stop during the investment period while pooled assets can fund loans. Redemption begins after that period ends, allowing depositors to recover their share once loans mature.

The documentation also sets out cash-basis accounting, under which new vaults would recognize interest when borrowers pay it rather than count all scheduled interest when a loan begins. The additional amendment remains dependent on the underlying lending architecture and its own approval process.

Commercial developers have announced preparations alongside that work. On Sep. 11, Clearpool outlined its planned XRPL credit expansion, proposing lending products built around the native vault and lending standards.

According to Clearpool’s proposal, Ripple committed capital toward products offering yield opportunities using XRP and RLUSD. An associated arrangement with Cicada Partners would provide RLUSD-denominated working-capital loans to fintech and payment companies, with Cicada handling borrower selection, loan terms, and credit risk.

For U.S. institutions considering RLUSD-based products, Ripple says Standard Custody & Trust Company issues the stablecoin under a limited-purpose trust charter supervised by the New York State Department of Financial Services. The state regulator separately lists Standard Custody as a chartered trust company.

New York teams will compete across four tracks
Alongside Lending & Borrowing, XRPL Commons said the hackathon will offer Protocol Innovation, Agentic Finance and an open category called Why Not.

For the protocol track, the organizer is seeking C++ and systems engineers to work on amendments, client software, and developer tools. A three-day Core Dev Bootcamp will run in New York on Oct. 20–22 before the weekend competition.

The Agentic Finance track will cover infrastructure that allows AI agents to make payments and manage funds on the XRP Ledger, according to the event description. XRPL Commons said developers can use existing ledger functions, including escrow and Credentials, in their applications.

The organizer has opened participation to developers new to XRPL as well as established teams. Its event materials list more than $40,000 in prizes, including dedicated bounties from Mastercard, Ledger, QuickNode and AWS.

Mastercard’s involvement was previously announced on Aug. 26, as reported in Aug. 27 coverage of its New York hackathon sponsorship. Separately, Mastercard announced plans in June to support regulated stablecoin settlement, naming RLUSD and the XRP Ledger among the assets and networks in its expansion.

For the competition, XRPL Commons said mentors and judges will include representatives from the sponsoring companies, Ripple and the XRPL Foundation. Its list also includes t54.ai, Evernorth, Soil, XRPScan, Common Prefix, Sum, Blockvault and the European Business School.

Winning teams can enter XRPL Commons incubation
Beyond the prize competition, XRPL Commons said top teams will receive fast-track access to grants and incubation. The hackathon is scheduled ahead of Ripple’s Swell conference, which runs Oct. 27–29 at The Shed in New York.

“We’re inviting developers and innovators to New York to turn these building blocks into working products over one weekend,” said David Bchiri, president of XRPL Commons.

Bchiri said the organization would support selected projects after the event through incubation and introductions to partners and investors.

Founded in 2023, XRPL Commons says it has incubated more than 70 projects and works with over 5,000 active builders. The nonprofit named ReGolda, Blockvault and MobileWallet among its alumni.

According to the organization, its three-month Make Waves buildathon involved 171 builders and produced 56 mainnet launches. Four participating teams are entering the ninth cohort of its Aquarium incubator, alongside Megawatt, the Paris Blockchain Week hackathon winner that began incubation this month.

On October 14, 2026, DriveWealth and Ripple announced an integration covering stablecoin settlement, cross-border payments, custody and equity financing. DriveWealth will begin the settlement work in Europe with $RLUSD on the $XRP Ledger, using Ripple’s mint and burn capabilities. The companies plan to extend that settlement setup to the United States.

The partnership puts stablecoin funding behind DriveWealth’s brokerage infrastructure rather than launching a separate retail product. DriveWealth supplies brokerage systems to more than 100 partners worldwide, including fintechs, digital wallets and financial institutions that offer access to American markets. Ripple says its regulatory footprint spans more than 85 licenses.

The immediate mismatch is between trading and funding hours. American equities settle on T+1, while international dollar transfers can take longer. DriveWealth already supports trading 24 hours a day on five weekdays. Its chief executive, Naureen Hassan, said, “We’ve already enabled 24/5 trading; now we need the funding to match, so clients can move with the markets instead of waiting for them.”

How the integration is divided
Stablecoin settlement starts in Europe. DriveWealth will use Ripple’s stablecoin infrastructure, $RLUSD and the $XRP Ledger. Ripple’s mint and burn functions will connect token issuance and redemption to the settlement flow. The announcement gives no production date for this European integration and describes American expansion as a later plan.

DriveWealth is taking the same regional order with custody. The companies say the first custody work is in Europe and that additional markets will follow. The release does not tie custody expansion to the American settlement plan, so partners cannot assume both products reach each market together. Each product has its own stated scope: settlement uses $RLUSD and XRPL, payments receive cross-border funds, and custody covers DriveWealth’s digital asset needs.

A separate Ripple Payments integration will accept cross-border funding from DriveWealth’s global partners. This is the inbound route into the brokerage platform. The companies present it as a way to reduce dependence on transfer windows and bank cutoff times when a partner needs to fund activity in another market.

Custody is also starting in Europe. DriveWealth is working with Ripple on digital asset custody there, with more markets planned over time. DriveWealth will move treasury and custody infrastructure onto Ripple’s rails. The stated goal is one real-time view across dollars, stablecoins and crypto, with transfers between those balances.

The equity-financing component is less settled. DriveWealth and Ripple Prime are exploring opportunities through Ripple Prime’s Delta One business, which covers American equities and equity derivatives. The announcement does not describe a product, customer, collateral schedule or start date for that work. Operators should distinguish this exploratory component from the announced settlement, payments and custody integrations.

What changes for brokerage funding
DriveWealth clients will be able to fund and manage collateral accounts with stablecoins that convert to cash in near real time. The operational benefit is narrower than continuous equity settlement. A client can move funding without waiting for a bank wire, but the release does not say that the underlying securities settlement cycle changes from T+1.

That distinction matters for treasury teams. The integration targets the cash leg before and around a trade. It can shorten the time between a partner sending value and DriveWealth recognizing usable cash. It also gives DriveWealth a common system for viewing treasury and custody balances in dollars, stablecoins and crypto. The announcement does not identify supported partner jurisdictions, conversion spreads, transaction fees or service-level commitments.

The integration also separates the funding asset from the cash balance used inside the brokerage account. The release says clients can send stablecoins and convert them to cash in near real time. It does not say that equities will settle in $RLUSD or that customers will hold tokenized shares on XRPL. For a partner integrating the system, the relevant handoff is therefore stablecoin to cash, followed by the existing brokerage process.

DriveWealth’s role is broader than a single trading front end. Its infrastructure lets fintechs, wallets and financial institutions provide access to American markets. A successful deployment could put the same Ripple funding route behind several partner products. The release does not name which of DriveWealth’s more than 100 partners will adopt it first, so the initial distribution cannot yet be measured.

International partners are the clearest initial users. They currently plan funding around cross-border transfer windows and cutoff times. Ripple’s system is meant to let them send stablecoins into DriveWealth and convert those balances to cash near the time the funds are needed. The later American settlement expansion would add a domestic endpoint, although the companies have not provided its timing.

Hassan said the aim is for capital to keep working overnight and on weekends rather than remain idle. The release also says DriveWealth will extend the funding and custody experience its clients already use to stablecoins and digital assets. That framing leaves DriveWealth as the brokerage layer while Ripple provides the stablecoin, payment and custody infrastructure underneath it.

What remains open
The announcement identifies Europe as the first settlement and custody market but does not name a launch date or the European entities and partners that will use the integrations first. It also leaves the American expansion schedule, fees, conversion terms and eligible currencies unspecified. Those details will determine whether partners use $RLUSD for routine brokerage funding or only for transfers that do not fit bank operating hours.

The next dated milestone is October 28, 2026, when the companies are scheduled to discuss the partnership in a fireside chat at Ripple Swell in New York City. The unresolved issue is whether that session will add deployment dates and commercial terms for the European launch and planned American expansion.

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.

XRP holders are looking ahead to two important dates in October as Ripple prepares for its annual Swell conference and the XRP Ledger approaches another round of protocol fixes.

The developments could put the XRP ecosystem in focus this month, with one event centered on institutional adoption and industry discussions, while the other concerns the network's technical infrastructure.

From October 27 to 29, 2026, leaders from finance, crypto, and the XRP community will come together for talks, panels, and discussions at the Swell event in New York. For the first time, Ripple combines Swell with Apex, the summit for developers, institutions, and investors building on the XRP Ledger, and UBRI Connect, the academic conference for Ripple's University Blockchain Research Initiative, which brings together researchers and students from its global university network.

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Across three stages, the Swell event will explore where finance is heading: liquidity and settlement, tokenization of real-world assets, stablecoins in bank-grade production, the first year of the spot XRP ETFs, AI agents that move money, and post-quantum security, while Ripple CTO Emeritus David Schwartz and Ayo Akinyele, Senior Director of Engineering at RippleX, will discuss what's next for the XRP Ledger.

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Ripple CEO Brad Garlinghouse will participate in a fireside chat on the evolution of digital assets and where the industry is headed. He will also moderate two conversations: one with Tom Farley, Chairman and CEO of Bullish, on digital asset markets and the future of global finance, and one with actor and co-founder of Water.org Matt Damon and Gary White on how technology and partnerships expand access to financial opportunity.

XRP fix upgrade to go live in OctoberThe fixCleanup3_4_0 amendment, a collection of fixes for Single Asset Vaults, the Lending Protocol, Automated Market Makers, the permissioned DEX, trust lines, NFTs, MPTs, Escrow, Sponsorship, transaction signing, and permission delegation, is set to launch on the XRPL mainnet on October 23, 2026.

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The fixCleanup3_4_0 amendment is essential for Permission Delegation, as until it is enabled, users would not be able to delegate the PaymentBurn granular permission.

October 23, 2026, represents the earliest activation date, as validator support must remain above 80% throughout. 

EvernorthXRP is set to ring the closing bell at Nasdaq, marking the debut of its XRPN shares. The event is scheduled for a live broadcast featuring interviews and a countdown starting at 2:30 p.m. ET. Evernorth Holdings, a publicly traded XRP treasury company, offers its Nasdaq Class A shares under the ticker XRPN, which provides investors with equity exposure to an XRP-focused corporate treasury. This event comes amid a recent downturn for XRPN, which saw a 3.55% decrease to $16.31.

Key Takeaways The debut of EvernorthXRP’s XRPN shares at Nasdaq appears to draw attention to XRP, consistent with supportive pricing for a potential increase. Market activity suggests participants are considering the bell-ringing event as a potential catalyst for increased interest in XRP-related equities. The impact of the event on XRP’s market perception may be modest due to the source’s Tier 3 classification. What to Watch Market observers should keep an eye on any significant changes in XRPN share pricing following the Nasdaq event. Watch for statements from key actors such as Ripple’s CEO Brad Garlinghouse or any regulatory updates from the U.S. SEC, which could further influence market sentiment. Additionally, developments in the broader crypto market, including Bitcoin price movements and interest rate policies, may also impact XRP’s trajectory toward a new all-time high by the end of 2026.

Ripple's first partnership with a Korean securities firm extends its institutional footprint across Korea's banking, insurance and capital markets

Seoul, October, 14, 2026 - Ripple, the leading provider of blockchain solutions across traditional and digital finance, today announced a strategic partnership with Meritz Securities, one of Korea's leading securities firms. Together, the two companies will explore how to bring Ripple Custody and Ripple's tokenisation infrastructure into Korea's capital markets. Ripple Custody is a bank-grade digital asset custody platform built for regulated financial institutions. It supports the secure storage, transfer and settlement of digital assets.

For any financial institution dealing with digital assets, institutional-grade custody is essential. Building it from scratch is costly, complex and slow. Ripple's infrastructure gives institutions a proven route to market instead, with the security and control that regulated firms need. The two companies will start within the scope of Meritz's existing securities business and current regulation. They will then widen their cooperation in stages as Korea's digital asset framework develops.

Meritz Securities is currently exploring a range of digital asset-related business opportunities in preparation for the integration of digital assets into the regulated financial system, including spot ETFs, fractional investment and security tokens, trading platforms, and KRW-denominated stablecoins. The partnership with Ripple was formed as part of these broader efforts.

“Korea is one of the most dynamic digital asset markets in the world and its institutions are preparing to move from exploration to real-world utility,” said Fiona Murray, Managing Director, Asia Pacific at Ripple. “Ripple brings the full infrastructure stack across payments, custody and tokenization, backed by more than 85 licenses and a network spanning more than 60 markets globally. We’re excited to work with Meritz Securities, and we look forward to supporting more Korean institutions as the market grows.”

Byungha Kang, Managing Director of the Strategic Planning Unit, Meritz Securities said, "This partnership lays the foundation for combining Ripple's global digital asset infrastructure with our capital markets capabilities. As Korea's regulatory framework evolves, we will prepare safe and trusted digital asset financial services in stages."

Meritz is Ripple's fourth institutional partnership in Korea this year and its first with a securities firm. Kyobo Life Insurance is using Ripple Custody to pioneer Korea's first tokenized government bond settlement on blockchain. Kbank, Korea's first internet-only bank, is deploying digital asset wallet infrastructure through Ripple Custody. Jeonbuk Bank became the first Korean regional bank to adopt Ripple Payments for cross-border remittance. With Meritz, Ripple now works with Korean institutions across banking, insurance and capital markets, which reflects its long-term commitment to the country's institutional digital asset market.

Blockchain

13 October 2026
|
19:16

Privy’s developer documentation now lists XRP Ledger support, giving apps a way to create and use XRPL wallets without sending every new customer to separate wallet software first.

Key Takeaways

Privy lists XRP Ledger among the networks supported by its wallet infrastructure.
Apps can connect XRPL wallet creation to their existing login and user-account flow.
XRPL support covers transaction-aware signing and policy controls.
Recovery, approvals and external transfers remain decisions for the app and its wallet setup.
The next evidence will come from consumer apps that use the integration in production.

A user can enter XRPL without starting with a wallet app
Privy’s chain-support documentation lists XRP Ledger as a supported network for wallet creation and transaction signing. Its frontend tools allow developers to connect authentication, user accounts and embedded wallets in the same application flow.

For the user, that can remove several early steps. Someone joining a payment, trading or rewards app may sign in with an email address or another familiar method, then receive an XRPL address within the product itself. Their balance and transaction approvals can stay in the app interface instead of requiring a separate download before the service becomes usable.

That is the practical value of embedded wallets: the blockchain account becomes part of the product experience. Privy, which describes itself as a Stripe company, supplies infrastructure that developers can use to build that experience. The documentation confirms the technical capability, though it does not describe a separate consumer launch or a formal Ripple–Privy commercial agreement.

An embedded wallet turns product design into a control decision
Creating a wallet is only the first part of the relationship between a user and an app. The more consequential decisions concern how the wallet is recovered, how a transaction is approved and whether the user can move funds to another XRPL address without depending on the original service.

Those details vary by implementation. One product may provide a clear path to export credentials or migrate the wallet. Another may centre access on the app’s login and recovery system. A balance can appear in both products, while the user’s practical control over that balance differs substantially.

The user

Approves the action

The customer needs to understand when a transfer requires approval and how access can be recovered after a lost device or login.

The app

Defines the wallet journey

Its developer chooses the login, recovery, transaction-review and support processes surrounding the wallet.

The ledger

Records the signed transaction

XRPL receives a valid transaction, while the product design determines how the user reached the point of signing it.

The same issue appears whenever an account balance is presented through an intermediary. A customer needs to know what rights sit behind the interface, just as buyers of Bitcoin exposure through a listed product and Bitcoin in a wallet receive very different transfer and custody rights despite following the same market.

Privy’s XRPL support has a defined role
Privy categorises XRPL as a Tier 2 network. According to its documentation, that means the infrastructure can decode and sign XRP Ledger transactions. Tier 2 is also the minimum level required for transaction policies because the system needs to read the transaction contents before assessing a rule.

XRPL is not listed in Privy’s Tier 3 group, where Privy constructs, broadcasts and tracks transactions on the developer’s behalf. An app using the XRPL integration can therefore use Privy for wallet creation and transaction-aware signing while retaining responsibility for the surrounding submission, confirmation and support flow.

That division helps explain what the integration changes for developers. It can reduce the work involved in putting an XRPL wallet behind a familiar sign-in experience, but it does not remove the need to design a clear route from a user’s payment request to a completed ledger transaction.

Wallet policy and XRPL account permissions serve different jobs
Wallet software can guide how an app asks for approval or reviews a transaction. XRPL itself can also divide authority between accounts. The two layers can work together, although they solve separate parts of the security problem.

For example, XRPL’s PermissionDelegationV1_1 feature allows a business to assign limited actions to separate accounts while keeping its primary credentials under tighter control. That structure can separate compliance and operational duties, but it does not decide how a customer recovers a wallet or whether an app presents a transfer clearly before it is signed.

Developers therefore need to make the boundary visible. A policy may help prevent an unwanted transaction from moving forward, while the ledger’s permissions decide which account can carry out an allowed action. Neither substitute replaces a user understanding who has authority over the funds.

The real test is whether users stay after the first wallet appears
Embedded-wallet support can make XRPL more accessible to product teams building payments, rewards, trading or issued-asset services. It does not establish that those products already have users, that users will keep balances on the network or that the integration creates direct demand for XRP.

More meaningful evidence would come from named apps deploying the feature, repeat active wallets, successful payment flows and clear support for users who need to recover or transfer their accounts. Those results would show whether the integration has become part of a working consumer product rather than remaining a developer option.

Five questions before funding an in-app XRPL wallet

How is access recovered?

Check what happens if the phone, login method or authentication device is lost.
Who participates in signing?

The app should explain the approval process and any provider or policy role around a transaction.
Can assets leave the app?

Confirm that XRP and other supported XRPL assets can be sent to an external address under clear conditions.
Can wallet credentials be exported or migrated?

A user should know whether they can continue using the wallet outside the original application.
Who provides support when something goes wrong?

Review which party handles failed transfers, account recovery and transaction disputes before funding the wallet.

Convenience only works when control remains clear
Privy’s XRPL support can make wallet setup less visible and less intimidating for first-time users. That matters for apps whose customers want to make a payment or use a service before they want to learn the mechanics of blockchain accounts.

The feature’s lasting value will depend on the controls built around it. A well-designed embedded wallet should make it easy to enter XRPL while leaving users with clear recovery options, understandable signing rules and a practical way to move their funds when they choose.

This article is provided for informational purposes only and does not constitute financial, legal or investment advice. Wallet features, signing methods and custody arrangements vary by application.

Author

Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else.
It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other.
What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn?
He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.

XRP ETF demand is holding up, but on-chain activity tells a less encouraging story. By October 12, XRP ETFs had reached $1.55 billion in total net assets, with cumulative net inflows of $1.80 billion, according to SoSoValue. That’s a solid amount of capital sticking around. Yet the blockchain figures isn’t that satisfying, number of active users has plunged from an August peak of 500,000 to fewer than 100,000.

The disconnect raises an awkward question: are investors staying interested while everyday network activity fades?

XRP ETF Inflows Hold Up Despite Cooling ActivityThe ETF data suggest interest in XRP-related investment products remains substantial. Cumulative net inflows have reached $1.80 billion, while total net assets stand at $1.55 billion.

The data from dashboard also suggest that withdrawals haven’t been as severe as those seen in BTC ETFs. Still, ETF capital and network participation measure different things. Strong inflows don’t automatically mean more people are using the network.

XRP Price Faces a Crucial $1.30 Support TestXRP rallied from $1.00 to $1.70 in August before hitting resistance and retreating toward $1.30. Since then, the $1.30 area has been tested repeatedly.

That level now matters. If it continues to hold, the recent price action could be a retest rather than a breakdown. But repeated tests aren’t risk-free; support can weaken when buyers fail to deliver fresh demand.

Can XRP Reclaim $1.50 and $1.70?A recovery depends on more than ETF headlines. Rising demand could show up through improving active-user numbers, stronger XRP ETF inflows, and a firmer token price.

If $1.30 holds and momentum returns, XRP could revisit $1.50 and $1.70, potentially moving higher. Lose that support, however, and $1.00 becomes the next downside level to watch.

For now, XRP ETF inflows remain encouraging, but falling activity is the warning sign. The $1.30 support zone is the key battleground: hold it, and recovery remains possible; lose it, and the market may have to rethink the bullish case.

Story Ends Here

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Stellar, a blockchain network focused on facilitating cross-border payments and asset tokenization, has become a leading platform for tokenized real-world assets. The total reported value of tokenized assets on Stellar has reached approximately $3.5 billion. Despite this growth, XRP maintains a market capitalization almost 13 times greater than Stellar’s native XLM token, underlining a persistent imbalance between tokenization adoption and crypto valuations.

Stellar’s rising tokenization volumesAs of October 13, market data from CoinCodex showed XRP’s market capitalization at around $84.65 billion, while XLM trailed significantly at about $6.67 billion. This 12.7-fold difference persists even as Stellar’s institutional tokenization offerings continue to expand.

Recent estimates place the value of tokenized assets on Stellar near $3.5 billion, and, depending on the reporting methodology, this figure can be even higher—up to $4 billion according to Stellar’s own records in early September. Comparatively, the XRP Ledger (XRPL) is estimated to host approximately $2.5 billion in tokenized real-world and financial assets under one broad reporting standard. However, specific rankings may vary based on whether they include certain stablecoins or financial products.

Stellar’s asset tokenization growth is largely supported by institutional products such as Franklin Templeton’s BENJI fund and other financial instruments. The BENJI fund, tokenized and issued on Stellar, held about $605 million as of October 6. Another project, Spiko, accounts for $1.7 billion through tokenized money-market products.

These assets are structured as investment products, granting investors digital shares backed by underlying securities such as government bonds or money-market funds. Blockchain technology powers the issuance, recordkeeping, and settlement of these tokenized shares, delivering efficiency gains for institutional investors and fund managers.

Mini dictionary: Franklin Templeton is a global asset management firm that has issued tokenized money-market funds on blockchain platforms such as Stellar, allowing for digital shares in regulated investment products.

Tokenization versus native token valuationThe growth of tokenized assets does not necessarily translate into increased demand for a blockchain’s native cryptocurrency. When institutions invest in tokenized Treasury funds on Stellar, their money is allocated directly into underlying traditional assets, such as US Treasury securities. While the process requires a minimal amount of XLM for transaction fees and account reserves, these costs are relatively low and do not result in major demand for XLM itself.

A similar dynamic is present on the XRP Ledger. Even as institutional usage and tokenization of securities or stablecoins has increased, these activities do not automatically require counterparties to accumulate large holdings of XRP. Most institutional flows are directed toward the underlying assets, bypassing the need for substantial native coin exposure.

During the past year, Treasury tokenization volumes on the XRP Ledger grew significantly, rising from $50 million to approximately $418.5 million. However, this notable growth in tokenized assets has only a limited direct impact on XRP’s price, since institutional demand is insulated from speculative or retail-driven trading of the token.

XRP’s unique demand sourcesUnlike Stellar’s tokenized products, some institutional vehicles specifically aim to give investors direct exposure to XRP as an asset. For example, Evernorth recently secured a Nasdaq listing for a public treasury product holding 473 million XRP. Furthermore, U.S.-listed spot XRP ETFs increasingly provide additional channels for institutional or retail investors to gain direct exposure to the cryptocurrency.

These investment products differ fundamentally from tokenized Treasury funds or money-market products because their value proposition centers on XRP itself, rather than stablecoins or external securities. As a result, they contribute to market demand for XRP more directly than the tokenization models adopted by Stellar partners.

MetricStellar (XLM)XRP Ledger (XRP)Market capitalization$6.67 billion$84.65 billionTokenized assets value$3.5–$4 billion~$2.5 billionMain tokenization productsMoney market, Treasury fundsTreasury, ETFs, public treasury XRP holdingsXRP’s valuation remains significantly higher than Stellar’s XLM, despite the fact that Stellar now leads in total value of tokenized real-world assets. The disconnect between native token prices and blockchain adoption continues as both networks pursue different strategies to attract institutional flows.

Autonomous artificial intelligence systems are now driving the bulk of settlement activity on the XRP Ledger (XRPL), signaling a shift away from traditional retail transactions. According to on-chain data from t54.ai, machine-driven transaction flow has become central to XRPL’s commercial usage, with AI agents handling increasingly complex microtransactions.

AI agents reshape XRPL commercial landscapeTransaction activity on XRPL has surged, with daily settlements surpassing 600,000 and occasionally touching 700,000 at the turn of September and October. This uptick aligns with the growing presence of AI-infused agents and services on the network.

The infrastructure supporting automated operations has expanded rapidly, with 169 different merchants now active. The total transaction volume across these entities has exceeded 13.94 million, as developers pivot to using XRP tokens and the RLUSD stablecoin for real-time, high-frequency microtransactions, which traditional banking channels are ill-suited to handle.

Data from the t54 on-chain dashboard places the distributed inference network Heurist Inference Router at the top, having processed 9,973,942 transactions. Other major contributors include the AI search engine AskSurf (863,012 transactions), computing network Heurist Mesh (512,623), operating system LucyOS (400,663), and fintech platform ClawBank (137,836).

PlatformTransactionsHeurist Inference Router9,973,942AskSurf863,012Heurist Mesh512,623LucyOS400,663ClawBank137,836AI developers have increasingly adopted these settlement options, reflecting the network’s ability to meet requirements for automated, rapid, and small-value payments.

Mini dictionary: RLUSD, a stablecoin on the XRP Ledger, is designed to facilitate fast, cost-effective, and programmable settlements between AI agents and human users, allowing efficient microtransaction processing on-chain.

Institutional investment and the trust challengeThe widespread adoption of autonomous AI-driven software remains tied to overcoming a lack of corporate trust. Developers attribute this skepticism as a primary obstacle to scaling automated transactions. In response, the startup has introduced a “Trust Layer” leveraging the X402 standard. This system verifies digital mandates and transaction limits for AI agents in real time before settlement, and it extends Claw Credit credit lines based on established on-chain reputations.

Recently, the deployment of machine-based payment rails has attracted institutional attention. t54 Labs completed a $5 million seed funding round, counting Ripple and leading asset manager Franklin Templeton among its direct investors.

Additionally, the company has joined the Mastercard Start Path accelerator program. This initiative aims to integrate autonomous AI agents into Mastercard’s global payment infrastructure, facilitating cross-network settlements involving both digital and fiat assets.

AI agents are now generating the XRP Ledger’s main transaction flow, overtaking human-originated retail transfers and establishing themselves as the network’s dominant commercial force.

AI agents transition from expense to transaction driversOn-chain activity now shows a fundamental transformation: AI-powered agents have shifted from being categorized as operational overhead to serving as key initiators of settlement traffic. Their ability to conduct rapid, multi-party transactions is outpacing traditional human activity on the XRPL network.

The momentum created by AI-driven commerce is seen as a harbinger of broader adoption of autonomous transaction systems, particularly as institutional capital continues to enter the sector.