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RedotPay’s RLUSD card lets 8 million users spend against their XRP without selling it: pledge coins at 50% loan-to-value, borrow in Ripple’s stablecoin, swipe anywhere Visa works. It is being sold as convenience. It is, mechanically, collateralized leverage on a token that fell 60% in a year, and the difference matters.

Summary

RedotPay, a stablecoin payments fintech with more than 8 million users across 100-plus countries and roughly $12 billion in annualized volume, launched an XRP Ledger-powered card that combines XRP-backed credit, Ripple’s RLUSD stablecoin, and Visa’s network. The mechanics are a loan, not a payment: users pledge XRP as collateral at a 50% loan-to-value ratio, receive a credit line settled in RLUSD on the XRPL, and spend at any Visa merchant, keeping their XRP exposure intact. The pitch, spending without selling, is genuine and genuinely double-edged: it preserves upside and defers taxable disposals, and it converts holders into leveraged borrowers against one of the cycle’s worst-performing major assets. The launch is a real distribution event for RLUSD, routing consumer settlement through the XRP Ledger itself, and it arrives on the strength of a real trend: RedotPay reports stablecoin card volume up 80% this year and 250% year over year. The unpublished numbers are the ones that decide the product: borrowing costs, liquidation thresholds, and what happens to pledged collateral in the next 40% drawdown. The card’s true test is not adoption. It is the first liquidation cycle. The most successful trick in consumer finance is making a loan feel like something else. The credit card made borrowing feel like paying; the mortgage refinance made it feel like unlocking; buy-now-pay-later made it feel like nothing at all. This week the trick arrived for XRP holders, wearing Ripple’s stablecoin and Visa’s logo. RedotPay, a Hong Kong-grown stablecoin payments company that has quietly assembled more than 8 million users across a hundred countries, launched what it calls the RLUSD card: pledge your XRP as collateral, receive a credit line at half its value, spend that credit, settled in RLUSD on the XRP Ledger, anywhere on earth Visa is accepted. The marketing frame, spend without selling your XRP, is accurate, appealing, and incomplete, because the product it describes has an older and less romantic name. It is a securities-backed line of credit, the margin loan of the wealth-management world, ported to a volatile digital asset and distributed to a retail base of eight million. That porting is a genuine milestone for stablecoin payments, a genuine distribution win for RLUSD and the XRPL, and a genuine risk transfer whose terms nobody outside RedotPay has yet seen. All three things are true at once, and this piece takes them in order.

What the card actually is Start with the mechanics, because every claim about the product, for and against, lives inside them.

A RedotPay user with XRP does not load the card by selling coins. They pledge the XRP as collateral into RedotPay’s system, and against that pledge the platform extends a credit line at a 50% loan-to-value ratio: a thousand dollars of XRP unlocks five hundred dollars of spending power. The credit is denominated and settled in RLUSD, Ripple’s dollar stablecoin, with settlement executed on the XRP Ledger before the money reaches the Visa rails, where it spends like any card balance at any merchant. The user’s XRP position remains theirs, still exposed to every tick of the price, while the borrowed RLUSD buys groceries. When they repay, the collateral releases; while they borrow, it is encumbered.

Strip the branding and the structure is instantly recognizable from traditional finance: this is a securities-backed lending product, the same architecture private banks use when a client borrows against a stock portfolio instead of selling it. The appeal there and here is identical and real. The holder keeps upside exposure. No taxable disposal occurs at the moment of borrowing, since a loan is not a sale, which for long-term XRP holders sitting on complicated cost bases is a material feature, not a gimmick. And liquidity arrives instantly, at swipe speed, rather than through the sell-withdraw-wait cycle that still makes exiting crypto positions clumsy in much of the world.

NEW: Squid powers instant cross-chain access for RLUSD. Users can now swap and move RLUSD across XRPL, Ethereum, Base, Optimism, and more pic.twitter.com/BUjaTzwvqb

— crypto.news (@cryptodotnews) June 17, 2026 RedotPay is a credible vehicle for the port. The company’s platform numbers, 8 million-plus users, 100-plus countries, roughly $12 billion in annualized payment volume, describe its whole stablecoin card business rather than this product, a distinction worth keeping crisp, but the underlying trend is corroborated and steep: the company reports stablecoin-powered card transaction volume up 80% since January and 250% year over year, and it has an existing Ripple relationship through African remittance corridors plus a May rollout of direct XRP payment features. The RLUSD card is not a startup’s cold launch. It is a proven distribution machine adding a leverage product to its shelf, which is exactly why the product deserves the scrutiny its marketing does not invite.

The half the marketing carries The bull case for the card is worth making properly, because it is more substantial than launch-week boosterism suggests, and it rests on three distinct legs.

The first is the stablecoin-payments wave, which is real and measurable. Card products that settle in stablecoins have moved from crypto curiosity to functioning consumer infrastructure, particularly in the markets RedotPay concentrates on, where local banking friction makes a dollar-denominated spending instrument valuable in itself. An 80% year-to-date volume increase on a large existing base is not narrative; it is throughput, and every analysis of the sector points the same direction. A card that lets crypto holders join that throughput without liquidating their positions extends the product category along its natural axis.

The second leg is what the launch does for RLUSD and the XRP Ledger, and here the significance runs deeper than one fintech’s product shelf. RLUSD’s short life has been dominated by institutional settings, exchange collateral, treasury products, cross-border settlement, and its circulation has notably concentrated on Ethereum rather than the XRP Ledger it was nominally built to showcase. The RedotPay card is the first mass-market consumer product that routes RLUSD settlement through the XRPL itself, every credit draw an on-ledger transaction, which makes it a distribution event for the home chain in precisely the dimension, ordinary payment volume, where the ledger’s activity metrics have chronically underdelivered. If the card scales, it manufactures the daily, boring, non-speculative XRPL transaction flow that a decade of partnership announcements promised and rarely produced.

The third leg is the honest version of the consumer argument. For a holder who would otherwise sell XRP to fund spending, borrowing at 50% LTV is not obviously the riskier choice; it is a portfolio decision with a respectable pedigree, and the tax-deferral mechanics are the same ones wealthy households have used against equity portfolios for generations. Democratizing an instrument the private-banking class already enjoys is, on its face, exactly what crypto claimed it came to do. The case against the card is not that borrowing against assets is illegitimate. It is about what happens when the asset is this one, the borrower is retail, and the terms are unpublished, which is where the second half begins.

The half it does not Now run the same mechanics forward through a drawdown, because the product’s defining events will not happen at launch. They will happen at liquidation.

A 50% loan-to-value line against XRP is a bet, embedded in a payment card, that XRP will not fall far enough to impair the collateral, and the recent record of that bet is the uncomfortable part: the token has fallen more than 60% from its 2025 high and traded at fifteen-month lows this month. A user who pledges coins at $1.14 and borrows to the limit has no buffer question until the price falls, and then has only questions the launch coverage does not answer. At what threshold does RedotPay demand more collateral or repayment? At what threshold does it liquidate, selling the pledged XRP into a falling market to close the line? What notice does a user in one of a hundred countries get, on what timeline, in what language of what agreement? None of this is disclosed in the launch materials, and none of it is exotic pessimism; it is the operating manual of every collateralized lending product ever built, and the crypto industry has run this exact experiment before at scale.

The lesson of the 2022 lending collapses was not that crypto-backed loans cannot work; it was that retail borrowers systematically underestimate liquidation mechanics until the first cascade executes them, and that products marketed as spend without selling are experienced, in the drawdown, as sold without asking.

The structural critique goes one layer deeper. A margin loan against a portfolio is typically one instrument inside a diversified balance sheet, extended by a lender whose terms are regulated, disclosed, and court-tested for a century. This product concentrates instead of diversifying: the collateral is a single volatile asset, the borrower base is by construction the token’s most committed holders, and the leverage is being introduced near cycle lows in sentiment, when the marketing pitch, do not sell here, keep your upside, lands hardest on precisely the users least able to absorb a liquidation. There is also a reflexivity worth naming for the asset itself: if the card scales, a meaningful stock of XRP becomes pledged collateral with mechanical sell triggers below the market, which is a new, price-insensitive seller waiting inside every future drawdown, the same structure that turned miner loans and DeFi collateral into accelerants in prior cycles. Individually rational borrowing, aggregated, becomes a market feature.

And the unknowns are not neutral. Borrowing costs are unpublished; whether pledged XRP is rehypothecated, lent onward, or held bankruptcy-remote is unpublished; the custody arrangement behind the collateral is unpublished. These may all resolve benignly, and RedotPay’s operating history earns it the presumption of competence. But a leverage product for eight million retail users, on a drawdown-prone asset, whose core risk terms are absent from its launch communications, has earned exactly one sentence of verdict: the card’s success metric is not sign-ups, and everyone will learn its real design the first month the collateral falls 40%.

The precedent shelf The card did not invent its category, and its neighbors on the shelf are the fastest way to calibrate both the opportunity and the risk, because each ran a version of this experiment and left a legible result.

The closest structural relative is the crypto-backed loan book of the last cycle, and its lesson is precise, not general. Celsius, BlockFi, and their cohort did not fail because lending against crypto is impossible; they failed at the treasury layer, rehypothecating collateral, mismatching duration, running invisible leverage on the lender’s own balance sheet, while their retail borrowers discovered that liquidation clauses they had never read executed automatically in the March and June 2022 cascades. The two failure surfaces are separable, and the RedotPay product should be examined on each independently: what the borrower signs, which will surface quickly, and what happens to pledged XRP inside the company, which will not. The industry’s post-2022 vocabulary, segregated collateral, no-rehypothecation attestations, proof of reserves, exists precisely because the second surface stayed dark until it ruptured, and a launch that leads with adoption numbers while omitting collateral treatment has, knowingly or not, reproduced the sequencing of the last cycle’s marketing.

The happier precedent is the securities-backed lending business this product is modeled on, roughly a $150 billion book at the major US wirehouses, run for decades with unremarkable loss rates. Its stability rests on three legs worth naming because each is currently absent here: conservative advance rates against diversified, comparatively low-volatility collateral; regulated disclosure of every material term; and margin machinery tested through multiple market cycles with borrowers who mostly have other assets. Single-asset collateral at 50% LTV on an instrument that routinely moves 10% in a week, sold to a retail base whose crypto position may be their principal asset, is the same architecture at triple the stress with none of the disclosure. That does not doom it. It means the product’s safety is an empirical question the traditional version never had to ask, and the first drawdown will answer it in public.

And the nearest crypto-native success, the exchange-issued collateral cards and stablecoin debit products that RedotPay itself sells, offers the final calibration: those work, at scale, precisely because they carry no leverage, which is the feature this launch adds. The category’s entire history compresses into one sentence the marketing will never use: crypto payment cards succeed in proportion to how little borrowing they contain, and this is the most borrowing one has ever contained.

What to watch Credit issuance volume, when it publishes. The company has indicated reporting on credit volumes will follow. Watch the ratio of pledged collateral to platform XRP balances: a niche convenience product and a system-relevant leverage layer look identical at launch and completely different at scale.

The terms, as users surface them. Interest rates, margin-call thresholds, liquidation procedures, and rehypothecation language will emerge from user agreements even if never press-released. The gap between the marketing and the margin schedule is the product’s honest description, and it will be visible within weeks.

The first drawdown. XRP at fifteen-month lows means the collateral question is not hypothetical for long in either direction. A 30-40% decline from pledge prices is the product’s first real audit: orderly margin management, or the familiar cascade. Every future XRP-collateral product, and competitors will copy this one if it scales, inherits whatever precedent this launch sets.

RLUSD’s chain split. Each card settlement is XRPL-side RLUSD volume. Watch whether the stablecoin’s circulation begins migrating from Ethereum toward its home ledger; if it does, this unglamorous consumer product will have done more for the XRPL’s activity metrics than any institutional announcement this year, which would be its own quiet verdict on where adoption actually comes from.

The card is a genuine innovation, a genuine RLUSD milestone, and a genuine margin loan, and the industry’s habit of celebrating the first two while ignoring the third is how every crypto credit cycle has started. Eight million users are about to learn, in the product’s own language, whether spend without selling survives its first encounter with sell without asking. The answer will arrive with the next drawdown, on schedule, as it always does.

A closing note on the geography, because where this product launches shapes what it becomes. RedotPay’s hundred countries are not a uniform market; the platform’s center of gravity runs through Southeast Asia, the Gulf, Africa, and Latin America, regions where the card’s stablecoin core solves problems a US or EU user does not have: unstable local currencies, thin card penetration, expensive remittance corridors, and banking systems that make holding dollars hard. In those markets the RLUSD card’s leverage feature rides on top of a genuinely useful dollar-spending instrument, which will flatter its adoption numbers and complicate their interpretation, since sign-ups driven by the stablecoin utility will be counted as validation of the credit product. 

The regulatory map matters in the same way: crypto-collateralized consumer credit occupies wildly different legal positions across those hundred jurisdictions, from regulated lending to unlicensed gray zones, and a product distributed at this breadth will inevitably become a test case somewhere, most plausibly in whichever market first combines mass adoption with a drawdown-driven liquidation wave and an ombudsman. The US, notably, is where products like this face the sharpest scrutiny and where RedotPay’s footprint is lightest, meaning the card will scale, and its risks will surface, largely outside the regulatory perimeter American observers instinctively assume. That is not an accident of the launch. It is the strategy, and it is the same strategy every offshore crypto credit product has run: grow where the rules are unwritten, and let the first crisis write them.

Disclaimer: This article is for information and educational purposes only and does not constitute financial, investment, tax, or legal advice. Product terms described reflect launch communications and may change or be incomplete; borrowing against volatile assets carries liquidation risk up to loss of collateral. Always do your own research. Information is accurate as of July 23, 2026.

Frequently Asked Questions What is the RedotPay RLUSD card? A Visa-network payment card launched by RedotPay, a stablecoin payments fintech serving more than 8 million users in over 100 countries. Users pledge XRP as collateral at a 50% loan-to-value ratio to unlock a credit line, which is settled in Ripple’s RLUSD stablecoin on the XRP Ledger and spendable at any Visa merchant, allowing holders to access liquidity without selling their XRP.

How is this different from a normal crypto debit card? A debit card sells or converts your crypto at the point of purchase; you spend the asset itself. This card lends against your crypto: your XRP stays yours, remains exposed to price moves, and serves as collateral for borrowed RLUSD. Mechanically it is a collateralized credit line, the crypto equivalent of a securities-backed loan, with the corresponding benefits, retained upside, no taxable disposal at borrowing, and the corresponding risks, margin calls and liquidation.

What does the 50% loan-to-value ratio mean in practice? You can borrow up to half the market value of the XRP you pledge: $1,000 of XRP supports up to $500 of credit. The ratio is the lender’s buffer against price declines. If XRP falls substantially, the loan can approach the collateral’s value, triggering demands for repayment or additional collateral, and ultimately liquidation of the pledged XRP. The specific thresholds and procedures were not disclosed in launch materials.

Is spending without selling really tax-advantaged? Generally, borrowing against an asset is not a disposal, so drawing the credit line does not itself crystallize capital gains the way selling XRP would, a genuine feature for long-term holders, subject to local tax law. The offset is borrowing cost: interest on the credit line, whose rate RedotPay has not published, plus liquidation risk. Whether deferral beats disposal depends on those terms and the token’s subsequent path. This is not tax advice.

Why does this matter for RLUSD and the XRP Ledger? Distribution. RLUSD’s circulation has concentrated in institutional venues and largely on Ethereum, while this card routes consumer settlement through the XRP Ledger itself, every credit draw an on-ledger RLUSD transaction. At scale, it would generate the routine, non-speculative XRPL payment volume the ecosystem has long promised, and shift RLUSD activity toward its home chain, making the card a meaningful test of where the stablecoin’s real usage develops.

What are the main risks for users? Liquidation is the central one: a significant XRP price decline can force sale of pledged collateral, potentially near market lows, converting a spend-without-selling product into an involuntary sale. Undisclosed terms compound it: borrowing costs, margin thresholds, notice procedures, and whether collateral is rehypothecated are not public. Standard platform risks, custody, jurisdiction, counterparty, apply as with any centralized fintech holding user assets.

Could this product affect the XRP market itself? At scale, yes. Widely pledged collateral with mechanical liquidation triggers creates a price-insensitive seller beneath the market: drawdowns that breach margin thresholds force sales that deepen the drawdown. Similar structures, miner loans, DeFi collateral, amplified prior cycles. Whether this card reaches system-relevant size depends on issuance volumes the company has yet to report, which is why those numbers are the ones to watch.

Should XRP holders use it? That is an individual financial decision this article does not make. The honest framing: it is a leverage product with real convenience and tax-deferral features and real, partially undisclosed risks, appropriate in the way margin borrowing is appropriate, for users who understand liquidation mechanics, borrow well below limits, and can repay without selling collateral in a drawdown. Anyone for whom those conditions do not hold is the product’s risk case, not its customer. Always do your own research.

Bitcoin price hovered near $65,000 after consolidation, while traders assessed prospects for recovery this week. The BTC price increased by 5% in seven days, which enhanced momentum ahead of the Federal Reserve decision. 

After its recent surge, Ethereum price was close to $1,920, whereas XRP price was trading at $1.13. The next focus is on the July 28-29 FOMC meeting led by Federal Reserve Chairman Kevin Warsh. Policymakers will decide rates and provide guidance on the policy outlook for markets.

FOMC Meeting July 28–29: Markets Watch the Fed Rate Decision The Federal Reserve’s next policy meeting is approaching, with CME FedWatch showing less than one week remaining.

The FOMC will meet on July 28 and July 29 to review interest rates and economic conditions. It is planned to issue a policy statement at 2:00 p.m. Eastern Time, July 29. The press conference will start at 2.30 p.m.

CME FedWatch tracks market expectations using prices from 30-Day Federal Funds futures.

Source: Fedwatch The tool has been used to estimate potential rate changes prior to every meeting by traders. The decision will be monitored by the investors to give broader market indications.

Bitcoin ETFs Record Seven Straight Days of Inflows Since July 14 Bitcoin ETFs recorded seven consecutive trading days of inflows, marking their longest positive streak in nine months. Santiment recorded an entry of $981.2 million into the products since July 14, with Bitcoin briefly reaching $66,300.

The steady demand follows heavy withdrawals during May and June, suggesting confidence may be returning among institutional investors.

The same inflow streak happened again in November 2025 as Bitcoin was nearing its $126,000 record high. 

Santiment data The existing momentum is not a sure way of another similar rise, although a trend of increasing ETFs might help push it to $70,000.  Such activity could indicate rising FOMO and increase the risk of a short-term market top. Investors will keep a check on the consistency of the inflows next week.

Bitcoin Price Prediction: Key Levels To Watch The BTC price traded at $65,693, holding above the key $65,000 support on the four-hour chart. Bitcoin price remains below the $66,000 resistance after retreating from a recent peak near $66,700. 

The RSI has a value of 53, indicating neutral momentum that has cooled off following the stronger values.

Meanwhile, the CMF reading of 0.25 suggests capital inflows remain positive. This is an indication of ongoing purchase intentions despite the recent consolidation.

A confirmed break above $66,000 could open targets at $66,700 and $67,000 as per Detailed Bitcoin price analysis. Additional momentum can take the rally to $68,000.

Source: BTC/USDT 4-hour chart: TradingView However, losing $65,000 could expose the $64,000 support zone. Bitcoin price can also stay within the range till the buyers manage to close decisively above resistance.

Bitcoin traded near the $65,700 mark on Thursday as AI-led inflation concerns capped gains despite strong ETF demand. The cryptocurrency was trading at the $65,770 mark.

In the past 24 hours, Bitcoin fell 0.2% and Ethereum was up 0.4% to trade at $1,924 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin and Cardano gained up to 2%.

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Akshat Siddhant, Lead quant analyst, Mudrex said Bitcoin is consolidating around the $65,700 level as investors balance strong institutional demand against persistent macroeconomic headwinds. Heavy AI-related spending by major technology companies on data centres, power infrastructure, and advanced chips is adding to inflation concerns, keeping bond yields elevated and limiting upside for risk assets.

Geopolitical risks have also intensified after Iran's exports were blocked. Despite this, institutional interest remains resilient, with US spot Bitcoin ETFs recording a sixth consecutive day of net inflows, adding $203 million on Tuesday and taking the total to nearly $930 million, Siddhant further said.

The global crypto market capitalisation edged down 0.07% to $2.24 trillion, according to CoinMarketCap. Traders have begun to book profits as Bitcoin continues to face significant upward pressure while holding above $65,600, said CoinDCX Research Team.

In the past week, Bitcoin and Ethereum were up 1.5% and 0.2% respectively. Among the major altcoins, XRP, Solana, Tron, and Cardano gained up to 6% whereas BNB, Hyperliquid, Dogecoin fell up to 12%.

Vikram Subburaj, CEO, Giottus said Bitcoin traded near $65,800 on Thursday, down about 1% over 24 hours, as the market consolidated after its recent advance. Immediate support lies around $65,500, followed by $65,000.

Exchange inflows have fallen to a fraction of their early-June peak, indicating that immediate selling pressure has eased. However, recent accumulation has concentrated among wallets holding 1,000-10,000 Bitcoin, while broader wallet participation remains limited, said Subburaj.

Market perspective
Nischal Shetty, founder, WazirX
Bitcoin is trading around $65,790, with the daily technical outlook remaining neutral as buyers and sellers stay evenly matched. Moving averages lean bullish, while mixed oscillator signals suggest traders are awaiting a decisive breakout.

Riya Sehgal, Research Analyst, Delta Exchange
In crypto, Bitcoin’s four-hour structure remains bullish above the $64,150–$64,950 support zone. A confirmed breakout above $67,200 could open the path toward $68,000, while a loss of $64,150 may expose $62,500–$63,000. Ethereum continues to show stronger relative momentum above $1,880.

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Avinash Shekhar, Co-Founder & CEO, Pi42
Bitcoin is trading at around $65,700 today after a modest pullback, as higher oil prices, expectations of elevated interest rates, and broader macroeconomic uncertainty weighed on investor sentiment. Despite the near-term pressure, the market continues to demonstrate resilience, with institutional participation and ETF flows providing a supportive backdrop.

CoinSwitch Markets Desk
Bitcoin’s rebound is approaching a key resistance zone near $70K, where profit-taking and selling from long-term holders could slow further gains. Bitcoin is currently trading around $66K, but demand remains uneven, leaving the market vulnerable to another pullback. At the same time, options traders have built nearly $2.5 billion in positions targeting $72K by the end of July, pointing to expectations of increased volatility around the upcoming Fed meeting.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Ripple (XRP), Hyperliquid (HYPE) and Zcash (ZEC) are trading in the red on Thursday, facing headwinds near crucial support levels. The technical outlook for XRP, HYPE and ZEC is bearish in the near term, with risks of further declines as selling pressure builds. 

Ripple remains capped below 50-day EMAXRP edges lower on Thursday, maintaining a corrective tone below the 50-day Exponential Moving Average (EMA) at $1.1458 and remains well below the 200-day EMA at $1.4425. The pair has bounced off recent lows, but upside attempts are still capped by this overhead moving-average structure.

Momentum is improving, with the Moving Average Convergence Divergence (MACD) and signal line advancing higher and its histogram expanding positively, while the Relative Strength Index (RSI) at about 55 hints at a recovery in bullish pressure without entering overbought territory.

On the topside, initial resistance is located at the 50-day EMA at $1.1458, followed closely by the 50% Fibonacci retracement of the latest swing from $1.2935 to $1.0092 at $1.1514, forming a nearby barrier.

XRP/USDT daily price chart.On the downside, first support emerges at the 38.2% Fibonacci retracement at $1.1178, with additional demand seen near the broken rising trendline area around $1.0937. A deeper slide would expose the 23.6% retracement at $1.0763, before the anchor low at $1.0092 comes into view as a critical floor.

Hyperliquid breaks below crucial support trendlineHyperliquid trades below $60.00 on Thursday, holding below the 50-day EMA at $62.52. From a technical perspective, the near-term bias is bearish, with the path of least resistance targeting the 50% retracement at $54.19, measured from $38.17 to $76.93.

Price remains above the longer-term 200-day EMA at $50.77, but the rejection from the descending resistance line near $69.67 and the break of the former uptrend support line now acting as resistance at $60.72 suggest that rallies are being sold.

The RSI at 40 remains in weak territory, while the MACD and signal line are trending below the zero line, reinforcing a downside-biased tone.

HYPE/USD daily price chart.Looking up, HYPE faces headwinds from the broken support trendline near $60.72, the 50-day EMA at $62.52, and the 78.6% Fibonacci retracement level at $66.22.

Zcash extends decline toward the 50-day EMA Zcash trades above $500 on Thursday, facing downside pressure from an overhead trendline near $581. The privacy coin holds above both the 50-day EMA and 200-day EMA at $489 and $407, respectively, keeping the broader bias constructive.

Momentum is mixed, with the RSI hovering around a neutral 52 and the MACD slipping below zero, hinting that bullish structure is intact but upside conviction has cooled.

ZEC/USDT daily price chart.On the topside, initial resistance aligns with the descending trendline barrier around $581, with the prior swing high near $690.00 marking a more distant bullish objective if buyers regain control.

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

Quick Overview While XRP commands a larger market capitalization at approximately $69B compared to Solana’s $45B, Solana demonstrates significantly broader onchain utility With roughly 38 billion tokens yet to enter circulation, XRP faces a fully diluted valuation approaching $111B By May, Solana’s network hosted over $2.8B in real-world assets alongside approximately $16.4B in stablecoin liquidity Galaxy Digital received $50M in commercial paper from J.P. Morgan directly on Solana’s blockchain using USDC settlement XRP Ledger hosted a collaborative pilot involving Ripple, J.P. Morgan’s Kinexys platform, Mastercard, and Ondo Finance centered on tokenized Treasury products Among the largest digital assets beyond Bitcoin and Ethereum, XRP and Solana stand out as major players drawing significant institutional attention. Despite their prominence, these networks serve fundamentally distinct purposes in the crypto landscape.

XRP functions primarily as a cross-border payment solution and settlement layer for financial institutions. Conversely, Solana operates as a comprehensive blockchain platform enabling decentralized trading venues, digital dollar infrastructure, asset tokenization protocols, and mainstream applications.

Market Capitalization Analysis Currently, XRP maintains a market capitalization hovering around $69 billion, while Solana registers approximately $45 billion. From this perspective, XRP appears to command greater market recognition.

However, examining fully diluted valuations reveals a more nuanced picture. XRP’s FDV extends to roughly $111 billion due to approximately 38 billion tokens remaining outside active circulation. In contrast, Solana has approximately 583 million of its 631 million maximum token supply already in circulation, resulting in minimal FDV divergence from current market cap.

This positioning provides Solana with a more transparent valuation framework. While XRP doesn’t face traditional inflation mechanisms—all 100 billion tokens were created at genesis—the substantial locked supply presents ongoing dilution considerations for investors.

Corporate and Banking Partnerships Recent months have witnessed both blockchain networks securing meaningful institutional engagement.

Ripple collaborated with J.P. Morgan’s Kinexys infrastructure, alongside Mastercard and Ondo Finance, executing a proof-of-concept demonstrating accelerated redemption processes for tokenized U.S. Treasury instruments on the XRP Ledger. Notably, portions of the settlement workflow still required conventional banking channels.

For Solana, J.P. Morgan facilitated a $50 million commercial paper issuance for Galaxy Digital executed entirely on-chain. Coinbase and Franklin Templeton served as purchasing entities. The entire transaction lifecycle—issuance through redemption—occurred on Solana using USDC stablecoin infrastructure.

Additionally, data from the Solana Foundation indicates the network captured 97% of all cumulative on-chain tokenized equity trading volume.

Platform Development and Investment Considerations May ecosystem metrics for Solana revealed real-world asset values exceeding $2.8 billion, complemented by stablecoin reserves totaling approximately $16.4 billion.

XRP’s competitive advantage lies in its specialized application focus. Payment rails, international money transfers, and institutional settlement represent clear, well-defined value propositions. Ripple has simultaneously diversified into custody services, stablecoin products, and tokenized financial instruments.

Solana presents higher volatility characteristics. Token value correlates directly with ongoing network usage, developer engagement, and stablecoin ecosystem expansion. Declining transaction activity could materially impact token demand fundamentals.

For risk-averse investors, XRP potentially delivers a more stable investment narrative. Its payment-centric positioning provides clarity, supported by a permanently capped token supply.

Investors comfortable with elevated volatility will find Solana offers multiple expanding growth vectors spanning stablecoins, tokenization infrastructure, and institutional financial applications. Additionally, Solana presents superior fully diluted valuation transparency alongside robust ecosystem development momentum as 2025 progresses.

Ripple (XRP) price is in focus after shark and whale wallets purchased 600 million tokens in five weeks. The purchase comes amid optimism that the US Senate might vote to pass the CLARITY Act before the August recess.

XRP price is down by 1.73% today, July 23, to trade at $1.13 at the time of writing, with $980 million in trading volumes per CoinMarketCap data.

XRP Whales Scoop $625M Coins as CLARITY Act Debate Heats Up Santiment notes that the traders who hold between 100,000 and 100 million XRP coins have increased their holdings by 2.8% in the five weeks leading to July 22.

This means that they have purchased 600 million coins that are worth around $678M at the current price of XRP of $1.13.

XRP Whale Accumulation (Source: Santiment) The purchases come as Ripple CEO Brad Garlinghouse urges Congress to pass the CLARITY Act bill before it goes on recess in August.

Senate Republicans released an updated version of the CLARITY Act text on July 22 that contained an ethics provision that barred the President from issuing digital assets.

But the ethics provision did not sway Democrats because the odds of CLARITY Act passing have dropped to 39% as the senators argue that the state Attorneys general should be the ones to enforce the ethics provision.

This recent opposition towards CLARITY Act has reduced demand for XRP ETFs because data from SoSOValue shows that they had zero flows on July 22.

XRP Price Nears Breakout as Bull Flag Emerges XRP has created a bull flag pattern on its four-hour chart that usually suggests that gains could continue.

This bull flag has a height of 7.25%. This suggests that XRP could gain by 7.25% and reach $1.24 if it closes above the resistance of $1.16.

The RSI reading of 55 suggests that the momentum is bullish, and this could push the price to $1.24 like the bull flag suggests.

XRP also remains above the 50-day EMA of $1.11 and the 200-day EMA of 1.12, and this shows that both the short-term and the long-term momentum is bullish.

XRP/USDT: 4-hour Chart (Source: TradingView But the bullish outlook seen in the bull flag might fail if the price of XRP moves below the 50-day EMA support of $1.11. Such a move could bring sellers back, and XRP could drop to the July 20 low of $1.08.

Futures Data Shows Weakening Speculative Demand Data from Coinglass shows that XRP’s open interest has dropped by 1.17% to $2.50 billion. This OI has dropped from $2.96 billion seen on June 1, suggesting that traders have been closing their futures positions on XRP.

XRP Open Interest (Source: Coinglass) The drop in OI comes after many long liquidations due to a drop in XRP price because of a bearish sentiment in the crypto market.

BlackRock CEO Larry Fink notes that the liquidations flushed out excess leverage from the crypto market and he is now “very bullish” that prices will recover.

XRP derivatives volumes have also dropped from $15 billion in February 2026 to $1.91 billion at the time of writing per Coinglass data.

The U.S. crypto industry supports 232,000 jobs and contributes $55 billion to GDP in 2026, according to a report commissioned by the National Cryptocurrency Association.

What The Report Actually ClaimsThe NCA’s “Crypto at Work” report was conducted by Pragmatic Policy Group and puts the average annual wage across supported crypto jobs at $133,000, more than double the $64,000 national median. 

The industry directly employs 34,000 people, with $31 billion of the total $55 billion economic contribution flowing directly to workers as income.

The report also compares direct crypto employment of 34,000 to Bureau of Labor Statistics figures for other industries to establish scale:

State-Level Crypto Employment: California DominatesCalifornia’s 57,649 supported jobs are more than three times the combined total of all 12 Heartland states. The coastal concentration reflects where crypto firms, financial services, and technology companies — the industries mapped to crypto revenue — are headquartered.

Why The Numbers Need ContextMost of the 232,000 jobs sit outside crypto companies entirely. PPG attributes 75,000 to supplier industries and 123,000 to household spending by workers across both groups, using a standard input-output multiplier model. 

The report’s appendix states directly that these figures reflect multiplier effects and do not represent direct employment at crypto firms.

The $133,000 wage figure covers all 232,000 supported roles, not crypto employees specifically, and the occupational tables include janitorial, food service, and delivery roles within the same total. 

The comparison also pairs an average against a median, a statistical mismatch that tends to inflate the higher figure since averages are more easily pushed up by top earners.

Because the government does not classify crypto as a standalone industry, PPG mapped an estimated $23.22 billion in U.S. crypto revenue sourced from Statista onto existing sectors including securities, data processing, and professional services. 

The underlying revenue figure rests on firm-level estimates and expert judgment rather than official statistics, introducing meaningful estimation uncertainty.

Who Is Behind The Report And Why It Matters?The NCA commissioned and funded the study, though PPG states its findings reflect independent analysis. The NCA launched in 2025 as a 501(c)(4) focused on crypto education, with Ripple (CRYPTO: XRP) Chief Legal Officer Stu Alderoty serving as its president.

Alderoty said the industry has become a genuine economic driver with a “real, positive impact on American jobs, wages, and economic growth.” 

PPG chief economist Oliver Browne said each direct crypto job generates around six additional roles across the broader economy.

The report lands as crypto firms continue lobbying Washington for favorable regulatory treatment ahead of the Clarity Act vote, making its job-creation and economic output framing directly relevant to the policy debate playing out this month.

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XRP experienced a sudden drop below $1.06 on Binance in mid-July, followed by a swift recovery as buying activity picked up. The token, which had struggled to regain momentum since its 2025 peak, now sits near $1.13 as traders watch for the next decisive move.

Sweeping below $1.06 and rapid price reversalOn Binance, XRP fell to $1.0572 and held there for about forty minutes before rebounding to almost $1.10. This move initially resembled a typical short-term price fluctuation but has since turned into a sustained bounce. Over the nine days following the dip, XRP/USDT spent several sessions ranging between $1.08 and $1.10, establishing what traders call a higher low before breaking resistance at $1.145 on July 20.

XRP then rallied to $1.165 by July 21, before encountering renewed selling pressure. The recent pullback into the $1.125 to $1.155 range appears to many market watchers as a retest of the breakout zone rather than an immediate breakdown.

XRP cleared $1.145 on July 20, shifting the short-term trend to bullish and propelling the price toward $1.165 before sellers returned.

Longer-term trends signal cautionOn the daily chart, skepticism persists among traders. Between February and June, XRP consolidated in a broad range from $1.20 to $1.50, following a decline from over $2.30 in early February. July saw the price move beneath the $1.20 floor, eventually finding support between $1.05 and $1.09.

The nine-day moving average remains negative, though it has begun to flatten as the price stabilizes near $1.13.

When shifting the view to weekly charts, XRP’s notable run-up from November 2024 stands out. After building a base between $0.35 and $0.55 through 2022 and 2023, the token surged toward $3.60 in under eight months. The current price lands close to the region where this bullish move first accelerated, though the downward trend since July 2025 has yet to be broken.

Binance whale inflows drop to lowest in two monthsWhale inflows—the volume of XRP transferred in large transactions to Binance—fell to approximately 947.4 million tokens over the last 30 days, according to CryptoQuant. This figure marks the lowest level in two months and represents a 34.4% decline from the late June peak of 1.445 billion XRP.

Additional CryptoQuant data, also shared by independent analyst darkfost_coc, shows even sharper declines in the whale inflows metric. At their peak, such inflows once reached 583 million XRP, equal to roughly $1.36 billion. This number has tumbled to about 25.3 million XRP, or $23 million, as flagged by the research outlet ArabxChain.

While reduced inflows from large holders do not guarantee a rally, analysts note this pattern could lessen selling pressure on exchanges.

Date30-Day Whale Inflow (XRP)Approx. USD ValueLate June 20261,445,000,000N/ACurrent947,400,000N/APeak (historical)583,000,000$1.36 billionRecent25,300,000$23 millionMini dictionary: CryptoQuant is a blockchain analytics platform that provides data on on-chain metrics, exchange flows, and market sentiment across numerous cryptocurrencies.

Withdrawal patterns and order book trendsBinance’s withdrawal-to-deposit ratio for XRP climbed to 54.5% on July 17, the highest in about two years. Market observers recall a similar pattern on June 20, 2025, when a comparable surge in withdrawals preceded XRP’s move from $2.11 to $3.50 within a month—a gain of approximately 66%. However, CryptoQuant analysts caution that these figures represent transaction counts rather than total volume, indicating a change in user behavior instead of outright capital flight.

Order book data presents a more mixed picture. The cumulative volume delta (CVD) score, another metric tracked by CryptoQuant, stayed negative throughout July. This suggests that sellers remain dominant, with more selling pressure than buying on Binance despite the slowdown in fresh inflows.

Key levels to watch and broader liquidityOn shorter timeframes, XRP faces a test of critical support. The one-hour chart shows the token rejected at $1.165 on July 21 and now challenging the same intraday support that underpinned its previous rally. Should this level fail, analysts expect a return to the four-hour order block, with the next significant support near $1.057.

Holding above the $1.10 to $1.13 range keeps the immediate structure positive and sets the stage for a possible retest of $1.165 and the daily chart’s $1.20 floor. A break below these levels, on the other hand, could bring the July sweep low back into focus and challenge the developing base.

The liquidity environment is also evolving. Circle, a leading issuer of the stablecoin USDC, recently surpassed a $410 million milestone for crosschain transfers through its Gateway infrastructure, highlighting the ongoing expansion of efficient transaction rails within crypto markets.

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

XRP has closed above a key descending trendline for the first time in over a year, signaling a potential shift in momentum after a lengthy period of price compression. Crypto analyst Marmot, known by the handle @Web3Marmot, highlighted this breakout on his recent chart analysis, noting that previous attempts to recover were consistently rejected at the same resistance line.

Five rejections mark downtrend’s enduranceThe downtrend began at XRP’s local high of $3.65 in July 2025, as illustrated by Marmot’s analysis. Each time the price approached the descending trendline, sellers stepped in to defend it, pushing XRP lower. These rejections were observed in July 2025, October 2025—immediately before a sharp price crash—January 2026, May 2026, and July 2026.

By September 2026, the trendline was approaching the $0.80 level. According to Marmot, if a breakout had not occurred at this stage, XRP would likely have continued its slide below $1. However, a significant green weekly candle recently closed above the trendline, suggesting renewed upward momentum.

Most people are missing this, but XRP has finally broken out of the downtrend from July 2025. The year-long compression is over.

The breakout at approximately $1.15 breaks the persistent pattern and could signal a new phase for XRP’s price action.

Mini dictionary: Marmot is a pseudonymous crypto market analyst who regularly shares technical analysis and trade ideas on social media platforms. His posts often focus on major turning points and projected trading scenarios for leading cryptocurrencies.

The three-stage upside planFollowing the breakout, Marmot provided a targeted sequence for potential price movements. The analyst projects XRP’s first move from $1.10 to $1.40, then further toward $1.80. The second phase involves a short retracement from $1.80 to $1.60 before aiming for $2.20.

In the final projected phase, XRP advances from $2.20 to $2.80, with a final target at $3.60. Each phase is visually represented by gray candles on Marmot’s published chart. At the time of this analysis, XRP was trading at $1.1498, and the analyst anticipates that the fresh breakout will trigger these moves relatively soon.

The explosive expansion can hit at any moment, according to Marmot, who noted that his target sequence starts right at current price levels, making the timing of this breakout especially significant.

Target StageLower PriceUpper PriceStage 1$1.10$1.80Stage 2$1.60$2.20Stage 3$2.20$3.60Momentum shifts for XRPThe persistent inability to reclaim the trendline defined much of XRP’s price history over the past year, with each failed attempt reinforcing bearish sentiment. The decisive weekly close above the resistance marks a potential turning point.

Marmot emphasized his track record of identifying significant market pivots, including a successful forecast to short Bitcoin from $111,000 in October. He acknowledged that while the setup currently favors further gains, any change in market conditions would be promptly communicated to his followers.

XRP now faces key targets, with Marmot’s projected path suggesting the possibility of reaching as high as $3.60 if momentum continues. The sequence of gains hinges on the asset’s ability to maintain its breakout above the long-term trendline.

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

Something important may have changed for XRP, but the chart is sending two conflicting signals. According to one crypto analyst, XRP has fallen below its 20-day, 50-day, 100-day and 200-day exponential moving averages, showing broad momentum weakness. Each average can now act as resistance as traders who bought higher look to exit near breakeven, short-term traders sell into rebounds and momentum traders wait for a stronger recovery.

At the same time, XRP has broken above a descending trend line that had capped rallies and created lower highs for months. That creates an early recovery signal, but the analyst warned that a trend-line break alone does not confirm a reversal.

Conflict 1: XRP Remains Technically WeakThe first signal is bearish. XRP has fallen below its 20-day, 50-day, 100-day and 200-day exponential moving averages. Losing all four averages shows that buyers have lost control across multiple timeframes.

The market reaction has been clear. These moving averages have now turned into layers of resistance. Traders who bought at higher prices may use any rebound to exit near breakeven, short-term traders may sell into rallies and momentum traders may wait for XRP to reclaim these levels before returning.

In other words, XRP is not facing one resistance wall but a staircase of resistance levels. The chart still looks damaged, and the market has not yet confirmed a broader trend reversal.

Conflict 2: XRP Has Broken Its Downtrend StructureThe second signal is more encouraging. XRP has pushed above a descending trend line that had been limiting rallies and creating lower highs for months.

This suggests buyers are finally challenging the bearish structure. However, the market has not reacted with a confirmed bullish reversal yet because a trend-line break alone is not enough.

The key question is whether XRP can hold the breakout zone. If buyers defend the area and turn the former resistance into support, the breakout becomes more credible. If XRP falls back below the trend line, the move could become a failed breakout and a bull trap.

What Happens Next?The analyst says the market reaction to support will matter more than one dramatic candle. A brief dip followed by a quick recovery would show buyers are defending the breakout. But if XRP closes below support and repeatedly fails to reclaim it, the market could become comfortable with lower prices.

For a genuine recovery, XRP must first hold the breakout zone, then reclaim the 20-day and 50-day EMAs, followed by the 100-day average. The biggest confirmation would come from reclaiming and holding the 200-day EMA.

That is why XRP is currently at a critical crossroads. Conflict 1 says the trend remains weak. Conflict 2 says the bearish structure may finally be breaking. The next confirmed move will show whether XRP is building a real recovery or setting up another trap for buyers.

Story Ends Here

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Ripple (XRP) and Stellar (XLM) trade cautiously on Thursday as both tokens hover around key technical levels. XRP is testing resistance at its 50-day Exponential Moving Average (EMA), while XLM continues to consolidate around the $0.187 support zone. Meanwhile, mixed derivatives data with a slight bearish tilt suggests traders remain cautious, keeping the next directional move uncertain.

Derivatives data shows cautious signsDerivatives data shows mixed sentiment with a slight bearish tilt. CoinGlass’ long-to-short ratio for both XRP and XLM read 0.94 and 0.93, respectively, on Thursday, nearing their lowest levels in over a month. The ratio being below one, indicates bearish sentiment, as traders are betting the assets' prices will fall.

XRP long-to-short ratio chart. Source: Coinglass

XLM long-to-short ratio chart. Source: CoinglassMeanwhile, the funding rates show a mixed bias. XRP funding rates flipped positive on July 14 and have remained in bullish territory, with a reading of 0.0014% on Thursday, indicating that longs are paying shorts and signaling bullish sentiment.

Meanwhile, XLM funding rates flipped negative on Thursday, reading -0.0035%, indicating that shorts are paying longs and signaling bearish sentiment.

XRP funding rates chart. Source: Coinglass

XLM funding rates chart. Source: CoinglassXRP technical outlook: Close above 50-day could suggest a rally XRP trades at $1.136 on Thursday, maintaining a bearish bias as price remains below the short- and medium-term Exponential Moving Averages. The 50-day EMA at $1.145 is the first cap just overhead, with the 100-day EMA at $1.235 further up, underscoring a market that remains pressured despite the recent bounce toward the 23.6% Fibonacci retracement at $1.136, which now acts as a pivotal level. 

Momentum is more constructive, with the Relative Strength Index (14) hovering near 55 and the Moving Average Convergence Divergence (MACD) line above zero, along with a positive, slightly expanding histogram, hinting at improving bullish attempts that remain constrained by overhead structure.

On the topside, immediate resistance is located at the 50-day EMA at $1.145, followed by a broader cluster formed by the 38.2% Fibonacci retracement at $1.215 and the 100-day EMA at $1.235. 

On the downside, the 23.6% retracement at $1.136 serves as the immediate pivot; a sustained break lower would expose support at the Fibonacci anchor near $1.009, closely aligned with the horizontal floor at $1.000, where buyers would be expected to defend the broader uptrend base.

XLM technical outlook: Hovers around the key supportsXLM price trades at $0.186 on Thursday, maintaining a mildly bearish tone as price holds beneath the 50-day, 100-day and 200-day EMAs at $0.189, $0.187 and $0.196 respectively. This layered EMA stack above spot hints that recent bounces remain corrective within a broader capped structure, even as the RSI at 46 stays in neutral territory and the MACD fluctuates just above zero with a modest positive reading, suggesting only tentative bullish momentum.

On the topside, initial resistance appears at the 100-day EMA near $0.187, followed by the 50-day EMA at $0.189 and the 200-day EMA at $0.196, ahead of the 61.8% Fibonacci retracement at $0.200; higher up, subsequent barriers are located at the 50% retracement at $0.218.

On the downside, immediate support is seen at the horizontal level around $0.177, reinforced by the 78.6% Fibonacci retracement at $0.173, with a deeper floor emerging at the prior horizontal base near $0.142.

XLM funding rates chart. Source: Coinglass(The technical analysis of this story was written with the help of an AI tool. Know more.)

Leading cryptocurrencies flatlined on Wednesday as investors weighed the implications of the Clarity Act and rising geopolitical tensions in the Middle East.

Crypto Rally CoolsBitcoin failed to break through $67,000 and slipped back to $65,000 after encountering strong selling pressure. Ethereum wobbled in the narrow range between $1,900 and $1,950, while XRP and Dogecoin also moved sideways.

Earlier, Senate Republicans released an updated draft of the Clarity Act that introduced new ethics provisions to limit cryptocurrency investments by the president and other federal officials.

Over $180 million was liquidated from the cryptocurrency market in the last 24 hours, predominantly in long positions, according to Coinglass data

Bitcoin’s open interest slid 2.18% over the last 24 hours. Binance derivatives traders bought the dip, with both retail and whale players increasing their long exposure to the leading cryptocurrency.

"Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.26 trillion, following an increase of 0.82% over the last 24 hours.

Stocks Close in the RedStocks ticked lower on Wednesday. The Dow Jones Industrial Average fell 6.06 points, or 0.01%, to close at 52,218.58. The S&P 500 slid 0.14% to close at 7,498.96, while the tech-heavy Nasdaq Composite lost 0.57% to settle at 25,690.90.

Geopolitical tensions remained elevated as Secretary of State Marco Rubio accused Iran of not being “serious” about negotiations. He added that Iran’s demands to control transit through the Strait of Hormuz could “never be allowed to happen.”

Will Bitcoin’s Rebound Lose Steam?Ali Martinez, a widely followed cryptocurrency analyst and trader, identified $70,920 as the next major resistance to watch for Bitcoin.

“Securing a close above $70,920 is required to clear this overhead supply and confirm the continuation of the BTC rebound,” the analyst added.

On-chain analytics firm CryptoQuant noted that despite Bitcoin’s recent uptick, spot buying has remained “thin,” with leverage doing the heavy lifting.

“No overheating yet, but not a rally on solid footing either. Watch for spot volume to actually warm up before chasing price,” the firm added.

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A new cryptocurrency index from S&P Dow Jones Indices and Pantera Capital is taking a distinctly Wall Street approach to digital assets—and that means leaving Bitcoin (CRYPTO: BTC) out.

Cathy Clay, CEO of S&P Dow Jones Indices, told CNBC on Wednesday that the company is applying the same broad principles used in its equity benchmarks to digital assets. Operating history, revenue generation, liquidity and listing status are some key criteria for index inclusion.

Why Didn’t Bitcoin Make The Cut?While Bitcoin met many of the index’s broader eligibility standards, Clay said it is not considered a revenue-generating protocol.

XRP (CRYPTO: XRP), another major cryptocurrency by market capitalization, also did not make the index, likely for the same reason, although Clay did not explicitly address its exclusion.

The benchmark focuses on networks that earn fees or other revenue through actual protocol usage.

Clay distinguished those economics from yield-bearing investments, saying the selected protocols generate utility-driven revenue from users interacting with their networks.

S&P developed the methodology alongside Pantera, one of the longest-running digital-asset investment firms, with data provided by blockchain analytics platform Artemis. The largest constituent cannot exceed 35% of the benchmark, while no other individual token can represent more than 20%.

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XRP is currently trading at $1.13.  Overall market momentum is pointing up. XRP is currently trading at $1.13, pressing against a critical resistance zone after breaking out of a tightening triangle pattern. On the other hand, the whales and sharks holding between 100K and 100M XRP have added 2.8% more coins over the past five weeks. It’s a deliberate accumulation at a level where most retail traders have been losing patience. 

Moreover, the micro wallets holding under 0.01 XRP have dumped 5.2% over the same stretch. Historically, the XRP price has moved with key stakeholders and against the smallest retail wallets. 

Also, XRP ETF products have expanded institutional access, Ripple’s SEC overhang is resolved, and XRPL utility around payments, tokenisation, and RLUSD keep the asset in focus. 

The Key Price Levels of XRP to Watch XRP is displaying a bullish divergence. Looking at the bullish price path, if it holds above $1.16, the recent high would be at $1.20. A major resistance range higher could likely be between $1.30–$1.35. 

With a bearish scenario, upon losing $1.16 support, the XRP price could break below $1.11, followed by an immediate retest at $1.08. Furthermore, a failed breakout exposes the liquidity zone below $0.87. 

XRP’s Technical Outlook: Can Momentum Stay Strong? The technical setup indicates strongly bullish momentum. XRP’s MACD line is above the signal line, and the short-term buying pressure is gaining speed. The recent price increases are happening faster than the average trend pace. Both lines are above zero, showing that the overall market direction is pointing up.

It is actively gathering strength, and traders look for buying opportunities in this phase, as the path of least resistance is up. If the lines start converging, it signals that buying momentum is starting to cool off.

In addition, the RSI reading settled at 60.75 reflects healthy bullish momentum with plenty of room left before the asset enters overbought territory. The buyers clearly have the upper hand, keeping the price sloping upward. As it sits above the 50 but stays below the 70 threshold, the asset is not overheated yet.

Significantly, the current market trend of XRP has enough room to push higher. The current environment remains favourable for long positions, and there are no visible signs of price exhaustion at this stage.

Crypto Market Highlights

After a Sharp Collapse, Can DEXE’s Falling Wedge Trigger a Rebound?

Content Writer | Crypto Enthusiast | Bridging Literature and Blockchain

The US cryptocurrency industry is closely monitoring the progress of the CLARITY Act, as lawmakers face an increasingly tight deadline to enact the legislation. Digital Asset Investor, a widely followed crypto analyst, expressed growing confidence that the bill will advance despite ongoing disputes between Senate Democrats and the White House over ethics provisions.

Political negotiation and Trump’s possible roleDigital Asset Investor suggested that former President Donald Trump is likely to concede to Senate Democrats’ ethics demands, allowing them all to be formally documented before agreeing to proceed. According to his assessment, stipulations restricting Trump’s personal trading activities in digital assets would not extend to his immediate family or trusts outside his direct control.

He noted, “Just because Trump can’t trade in crypto doesn’t mean his family member” will face equivalent restrictions, implying that the scope of these ethics requirements remains limited in their reach.

He argued that the ethics delays are not insurmountable, referencing Nancy Pelosi’s past trading performance as evidence that ethics debates often center on politics rather than substantive reform. In his view, the bill’s passage is a matter of national security and likely to be settled, regardless of the opposition’s persistence.

The ongoing stalemate has fueled uncertainty in the crypto sector, given the two-week window left for lawmakers to take action on the bill.

XRP’s position and Ripple’s infrastructureBeyond legislative developments, Digital Asset Investor commented on Ripple’s growing prominence in the stablecoin and payment infrastructure space. He referenced recent remarks from the CEO of Wormhole—a cross-chain messaging protocol and Ripple partner—highlighting that RLUSD stablecoin issuance has surpassed $1 billion. Wormhole’s CEO also pointed to Ripple’s strong financial reserves as a strategic advantage in competing with current stablecoin leaders.

A senior Ripple executive further outlined the technical strengths of the XRP Ledger, describing it as purpose-built for large-scale payments and institutional applications. The platform integrates features for escrow, a decentralized exchange, and compliance tools directly into its core, enabling these functions without requiring external smart contracts.

Mini dictionary: Wormhole, a cross-chain protocol, facilitates interoperability by enabling the transfer of data and assets between otherwise separate blockchains.

DTCC collaboration and Ripple’s institutional reachThe discussion also touched on the Depository Trust & Clearing Corporation (DTCC), a key US financial market infrastructure provider processing more than $4 quadrillion in settlements annually. DTCC’s digital assets division stated that no single blockchain currently meets the capacity to process its settlement volume. Instead, DTCC is collaborating with multiple platforms, including Canton and Stellar, with Ripple listed as a partner.

Digital Asset Investor highlighted that Ripple’s broad network of institutional relationships, such as access to central banks and the International Monetary Fund, has positioned the company as an informal incumbent within the growing digital asset ecosystem.

NetworkSettlement CollaborationRippleYes (partnered with DTCC)StellarYes (DTCC collaboration)CantonYes (DTCC collaboration)Ripple, headquartered in San Francisco, provides enterprise blockchain solutions for global payments, and plays a significant role in developing the XRP Ledger for real-time settlement and cross-border transactions.

He concluded that Ripple’s involvement with market infrastructure players is not coincidental, describing the company as “almost like a disguised incumbent” given its extensive high-profile partnerships.

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

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American institutional investors have begun reallocating capital into spot XRP ETFs while actively taking profits in the DeFi segment. According to SoSoValue, daily net inflows into XRP funds reached $5.66 million, while Hyperliquid (HYPE) funds lost $698,040.

Wall Street's shift in priorities comes amid rapid progress in the U.S. Senate on the historic CLARITY Act. The bill, passed by the House of Representatives in July 2025, transfers oversight of digital commodities to the CFTC while leaving the SEC in control only of tokens classified as securities.

Why XRP is gaining traction ahead of the CLARITY ActOptimism surged after Treasury Secretary Scott Bessent said the bill was on the "1-yard line" before approval. Senate Majority Leader John Thune and White House officials also confirmed progress in negotiations, easing disagreements over ethics provisions.

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A special Senate briefing will take place behind closed doors in the near future, with the goal of accelerating an official vote before lawmakers leave for recess. Despite opposition from Democrats, prediction markets now estimate the bill's chances of success at 50%–70%.

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For investors, buying XRP ETFs is a beta bet on the American company Ripple, which develops payment solutions based on the XRP Ledger blockchain. Full legal clarity under the CLARITY Act would give the company's infrastructure more room to expand, including the scaling of its new RLUSD stablecoin.

In the long term, this ripple effect could sharply increase transaction activity across XRPL and trigger mass adoption of XRP by large businesses. Major capital is clearly moving into regulated assets ahead of the curve, restructuring portfolios around the future rules of the market.

Wall Street prefers policyYesterday's crypto ETF data clearly illustrates this trend. While Bitcoin continues to attract most of the capital, recording its sixth consecutive day of growth, and Ethereum steadily holds its position, a clear divide has emerged in the altcoin market.

XRP is attracting funds at roughly the same pace as Solana. However, while capital in Solana remains at high levels because of the network's strong performance in the real-world asset tokenization sector, the DeFi-focused Hyperliquid segment is losing ground.

Investors are actively withdrawing money from BlackRock's iShares HYPE fund. Capital flows into Bitwise's fund have completely stalled, while Grayscale recorded only a symbolic daily transaction.

Total US Spot XRP ETF net inflow over the last 30 days, Source: SoSoValueThis outflow continued a negative trend for Hyperliquid, whose ETFs already suffered substantial losses last week. The rest of the market is currently at a standstill: investors showed only minimal interest in Litecoin and Dogecoin, while capital flows into BNB, LINK, HBAR, AVAX, and DOT funds stopped completely.

An official date for the Senate vote has not yet been set, but fund data confirms that major U.S. buyers no longer want to play regulatory roulette and are already choosing assets tied to American jurisdiction.

Ripple News Today and XRP Price Update: July 22

Whale-driven selling pressure in $XRP has dropped to its lowest point since January 2025, coinciding with expanding adoption of AI-powered transactions on the XRP Ledger. Market analyst Crypto Patel reported that inflows from whales—large holders who exert significant influence over short-term price action—to Binance have sharply decreased, suggesting that the primary source of large-scale liquidations is tapering off.

Declining whale inflows signal market shiftHistorically, a decrease in whale deposits onto exchanges has been seen as an encouraging sign for asset prices. With fewer significant holders moving tokens for immediate sale, supply tightens and demand plays a larger role in setting price direction.

Crypto Patel indicated that XRP appears to be transitioning from a distribution phase, where large holders sell, to an accumulation phase driven by sustained demand. Patel identified the $0.70 to $1.00 range as a potential long-term accumulation zone and highlighted a possible long-range price target of $10 if adoption and market interest continue to climb.

Patel believes the sharp decrease in whale exchange inflows marks a potential shift in XRP’s market cycle, opening the door to increased buying demand and a stronger foundation for future price appreciation.

On-chain data backed up this perspective, showing that XRP whales recently grew their holdings by 2.8% as the token reached a two-week high. Meanwhile, smaller retail investors have reduced their positions, signaling a divergence in sentiment and positioning between investor groups.

This development suggests large holders remain confident in XRP’s longer-term outlook and may be quietly accumulating, a trend often seen ahead of significant price movements as available supply tightens.

MetricTrendRecent ValueWhale inflows to BinanceFallingLowest since Jan 2025Whale net holdingsRising+2.8% (two-week high)XRP retail positionsDecliningN/ACurrent XRP priceAbove accumulation range$1.14AI-driven growth boosts XRPL utilityMomentum is also building on the technological front. Adoption of the XRP Ledger (XRPL) is accelerating as it becomes a platform for AI-powered, autonomous transactions. Infrastructure provider t54 facilitates AI agents and has now processed over 1.4 million autonomous transactions on XRPL using its x402 transaction facilitator.

Mini dictionary: x402, developed by t54, is a protocol for enabling automated, agent-based transactions directly on the XRP Ledger. This tool allows AI systems and machine agents to send and receive payments independently, supporting new use cases in the autonomous digital economy.

RippleX, the developer arm of Ripple, has played a major role in supporting XRPL’s integration with AI agents. David Schwartz, RippleX’s Head of Engineering, stated that this early-phase adoption is likely to accelerate rapidly. He forecasts that XRPL transaction volumes could climb from about 1 million currently to 10 million or even 100 million in the coming years as autonomous agents increasingly transact for APIs, computational resources, and digital services.

Schwartz anticipates exponential growth in XRPL transaction volume driven by AI agents, with millions of autonomous payments annually becoming standard practice as the ecosystem matures.

Analysts suggest that if these trends continue, XRP’s prospects could strengthen further. Reduced whale selling, ongoing institutional accumulation, and practical utility from AI-based transactions together form a backdrop for potential sustained growth in the token’s value.

As supply further contracts and real-world applications involving AI and digital payments expand, the market may see a rising foundation for future price increases if investor demand persists.

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

XRP has faced significant price compression during mid-2026, trading between $1.09 and $1.13 in late July after a drawn-out consolidation period. As August nears, market participants have been monitoring the asset closely for signs of potential recovery from recent lows.

XRP price scenarios for August 2026To analyze XRP’s possible movement into the new month, Google Gemini provided a structured price forecast based on prevailing market conditions. Gemini is an advanced artificial intelligence model developed by Google, designed to support a range of financial analysis and prediction tasks.

Gemini’s primary scenario maintains that XRP is most likely to continue consolidating, with a projected trading range between $1.10 and $1.22 by August 1. Citing current technical patterns, the AI assigned the highest probability to this outcome because the token remains supported at $1.08 and faces immediate resistance around $1.12 to $1.15.

With less than two weeks until the target date, Gemini stated the path of least resistance is a continuation of sideways action or a modest upward drift within these levels.

Mini dictionary: Google Gemini is Google’s large language model designed for AI-powered conversation, analysis, and complex prediction, often used across diverse sectors including finance for generating scenario analysis and market projections.

ScenarioProbabilityTarget RangeBase CaseHighest$1.10–$1.22Bullish20%$1.30–$1.35Bearish10%$0.85–$0.98Bullish expectations: Breaking resistanceGemini’s secondary scenario, assigned a 20% probability, suggests that if XRP buying volume surges enough to decisively cross the $1.15 resistance, a move toward $1.30 becomes likely. The AI model described this as a volume-driven breakout, not an organic drift, emphasizing that strong volume and momentum are prerequisites for this upward move.

Clearing the resistance would open access to the next “liquidity pocket” between $1.30 and $1.35, presenting a higher but less probable target in the near term.

XRP’s most probable path in the short term remains sideways consolidation or a slight upward drift between $1.10 and $1.22, with any marked rally dependent on breaching $1.15 with robust trading volume.

Bears’ view: Downside minimal but possibleOn the downside, Gemini allotted just a 10% chance to a significant pullback below the $1 threshold. The report highlighted that breaking the psychological $1 level may prompt forced liquidations, potentially driving the price down to the $0.85 to $0.98 support band. This bearish outcome is considered unlikely, contingent upon a broader market sell-off rather than internal XRP dynamics.

A breakdown under $1 could sharply accelerate losses and test support at $0.85, though this remains less likely in the current environment barring major negative shifts.

Point forecast and final recommendationsBeyond scenario ranges, Gemini provided a point forecast of $1.18 for XRP on August 1, 2026. This target reflects a mild upward tilt, positioned in the upper segment of the main expected range and consistent with the gradual positive drift following months of extended consolidation.

Gemini concluded by cautioning that these predictions are ultimately probabilistic and subject to change if broader market sentiment or volume patterns shift unexpectedly. As is the case with all short-term cryptocurrency forecasts, uncertainty remains inherent, and outcomes are not guaranteed.

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

EGRAG CRYPTO, a well-known cryptocurrency analyst, has revealed that he is allocating equal investments to an undisclosed altcoin alongside his XRP holdings in the current market cycle. This approach is based on a careful assessment of technical structure, macro support zones, project fundamentals, and anticipated future growth.

Equal investment approach with XRPFor every dollar committed to XRP during this cycle, the analyst explained that he has placed an equal amount into this unnamed asset. Although XRP remains his largest overall holding—due to heavier accumulation in the previous cycle—his recent purchases have followed a balanced strategy between the two coins.

EGRAG CRYPTO cited the long-term support structure and the resilience of the chart as key drivers behind this conviction. He emphasized the project’s strong fundamental outlook and current technical positioning as attractive for potential gains, stating his belief that the asset could deliver a substantial return if macro market conditions persist.

He set a target of a 10x to 15x return for the mystery coin during the next expansive phase, conditioned on the current trendline and support holding steady. Investors following his moves are monitoring whether this projected scenario materializes.

For every $1 invested in XRP during this cycle, I have invested an equal dollar amount in this coin. My conviction comes from the technical structure, macro support currently being tested, and its long-term fundamentals. I believe this coin can deliver a relatively straightforward 10–15X during the next expansion.

Market participants continue to speculate about the identity of the unnamed asset. While many suggest XLM as a historically correlated choice with XRP, other analysts have raised additional possibilities. ChartNerd, a respected technical analyst, proposed that the coin may actually be HBAR, supported by similarities in long-term price movement and critical trendlines.

He pointed to HBAR’s position above a multi-year ascending support trendline, which has guided prices since 2020. HBAR’s price recently tested a region where buyers have previously emerged, and technical charts show a nearby liquidity pocket at $0.04. A descending resistance line remains in place, constraining upward breaks for now.

The overlapping technical patterns between HBAR and the chart EGRAG CRYPTO shared have led many to consider it a strong candidate for the analyst’s mystery coin allocation. Both charts highlight an important support test that could become the launchpad for further advances, if buyers sustain momentum at current levels.

Focus on technical structure and market movesThe attention now turns to whether EGRAG CRYPTO’s approach will produce the strong upside he anticipates in the coming cycle. The analyst maintains that risk-to-reward has become attractive at these support zones, particularly for coins showing strong structural signs of potential reversal.

As the broader market waits for confirmation, comparisons between XRP’s trajectory and the mystery asset continue. Market observers are watching for breakout signals and decisive rebounds off the established support regions, both for XRP and the possible HBAR candidate.

Staying ahead of such market movements has become a top priority for many investors, especially those following chart-driven strategies. In this context, tools offering comprehensive analysis and real-time data have grown in importance. CryptoAppsy, which requires no account creation hassle, combines your crypto investments with real-time prices, detailed charts, and multi-currency portfolio management on a single screen. With this all-in-one financial assistant, you can instantly seize opportunities by setting up smart price alerts, filter news specific to your coins, discover newly listed altcoins without missing them, and always stay one step ahead of the market with critical macroeconomic data such as Fed interest rates.

The technical structure closely matches the chart EGRAG CRYPTO shared, with both highlighting a long-term support test that could serve as the foundation for the next major move if buyers defend the current zone.

For now, EGRAG CRYPTO has kept the asset’s identity private, but the recommended strategy and ongoing technical debates have placed a spotlight on both XRP and prominent altcoins as key assets to watch in the latest cycle.

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

RedotPay has introduced a new payment card that allows users to spend XRP-backed credit globally across the Visa network, integrating Ripple’s RLUSD stablecoin as a settlement layer. This move aims to enhance the real-world utility of the XRP Ledger (XRPL) and provide digital asset holders with expanded spending options.

How the XRP-backed card worksThe card enables users to pledge their XRP holdings as collateral, unlocking a credit line at a 50% loan-to-value (LTV) ratio. Instead of selling their crypto, users can access liquidity while continuing to benefit from any future growth in XRP’s value. The loan is settled in RLUSD, Ripple’s stablecoin, directly on the XRPL, and the funds become immediately available for use at any merchant worldwide that accepts Visa cards.

For those looking to retain exposure to XRP, this approach removes the need to liquidate tokens for day-to-day spending, offering flexibility for both long-term holders and regular users.

RLUSD operates as the bridge between blockchain and traditional payment networks. By leveraging XRPL’s speed and low cost, RLUSD allows rapid, efficient settlement for each transaction made using the card.

Mini dictionary: RLUSD is Ripple’s stablecoin issued on the XRP Ledger, designed for low-cost, fast settlement within blockchain-based financial networks.

FeatureRedotPay XRP CardTraditional Credit CardCollateralXRP pledged at 50% LTVNo crypto collateralSettlement CurrencyRLUSD (stablecoin) on XRPLNational fiat (USD, EUR, etc.)NetworkVisaVisaGlobal AcceptanceYesYesGrowing demand for stablecoin paymentsRedotPay, a fintech platform serving over 8 million users in more than 100 countries with $12 billion in annual payment volume, reported a surge in stablecoin-powered card transactions this year. The company stated that transaction volume has increased 80% since January and 250% compared with the previous year. This data highlights the gathering pace of stablecoin adoption for real-world payments.

Odelia Torteman, Head of Digital Assets at XRPL Commons, and Taylor Bossung, RedotPay’s Head of Corporate Affairs, discussed how the new XRP Card offers an opportunity for users to unlock spending power through crypto-backed collateral. They also noted the broader financial shift as on-chain lending and blockchain-powered remittances gain momentum in global markets.

Odelia Torteman and Taylor Bossung emphasized that the XRP Card enables holders to maintain their cryptocurrency positions while tapping into everyday spending, reflecting a significant step forward in linking digital assets to real-world payments.

Expanding the XRP ecosystemRedotPay continues to grow its footprint within the XRP ecosystem. In May, the company delivered expanded XRP payment features to millions of users. The platform previously worked with Ripple to boost XRP-powered remittances throughout Africa, aiming to accelerate crypto-to-fiat transfers and make cross-border payments more efficient.

The recent initiatives signal a broader shift for the XRP Ledger, positioning it as more than just a tool for international transfers. Through advances in stablecoin settlements, tokenized lending, and integration with major card networks, XRPL is becoming foundational infrastructure for both digital and everyday commerce—including the emerging field of AI-driven payments where autonomous agents handle transactions.

By combining RLUSD, XRP-collateralized credit, and Visa’s global reach, RedotPay is building a comprehensive bridge between blockchain and traditional finance, driving innovation in payment systems.

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

Can whale activity alone decide XRP’s next move?

From a technical standpoint, XRP has been one of the strongest altcoins this week, rallying more than 3% as the broader market flipped back into risk-on mode.

Notably, improving DeFi activity has backed the move, with stablecoin supply on the XRP Ledger (XRPL) edging closer to the $1 billion mark.

On the chart, XRP has reclaimed the $1.15 level, marking its first meaningful bullish breakout since early May.

More importantly, this rally hasn’t come out of nowhere.

As the chart below shows, XRP’s move back above $1.15 lines up well with recent wallet activity.

According to Santiment, whales and sharks holding between 100,000 and 100 million XRP have increased their holdings by 2.8% over the past five weeks. In other words, larger holders have been accumulating in strength, while the price is finally starting to catch up. 

Source: Santiment Meanwhile, the other side of the data tells a similar story. 

As the chart above shows, wallets holding less than 0.01 XRP have reduced their balances by 5.2% over the same period. Historically, though, Ripple [XRP] has tended to follow the behavior of its biggest holders rather than the smallest retail wallets, making this divergence another point in favor of the current rally. 

But what if retail isn’t selling for no reason? Instead, it could be an early sign that the market is starting to price in risks that whale accumulation alone can’t offset. If that gap starts to close, the current bullish setup could weaken much faster than expected. 

XRP’s next move depends on more than whale accumulation Sure, XRP ETFs have kicked off the week on a positive note. 

Bitwise’s spot XRP ETF pulled in $2.49 million in net inflows on Monday, the 20th of July, while every other issuer remained flat.

But one strong day doesn’t change the bigger picture. Spot XRP ETF demand has cooled noticeably over the past few weeks, with inflows remaining well below the levels seen in April and May 2026. In other words, institutional participation still hasn’t kept pace with XRP’s latest breakout.

Against that backdrop, the chart below becomes much more important.

Upbit’s weekly XRP trading volume has fallen 51%, from 530 million to 258 million XRP, while Binance spot flows have dropped by nearly 99%, pointing to fading spot participation.

At the same time, derivatives traders are becoming more aggressive. Binance XRP open interest has risen 5.9% to $423.8 million, pushing leverage ratios to recent highs.

Source: Upbit In other words, more of XRP’s rally is now being driven by leveraged positions than fresh spot buying.

In that context, the recent retail exit doesn’t seem like a fluke. Instead, it could be an early sign that spot interest is fading, making XRP’s upside look more like a short-term rotation than the start of a broader structural trend. That naturally puts the recent buildup in leverage under the spotlight.

If spot demand continues to cool while leverage keeps climbing, XRP’s breakout could struggle to hold. In that scenario, the current bull run risks turning into a classic bull trap.

Final Summary Whale buying and a strong technical breakout are supporting XRP’s rally. But weak ETF demand and rising leverage could put the breakout at risk.

S&P Dow Jones Indices and Pantera Capital have launched the S&P Pantera Digital Asset Index, an 18-asset benchmark designed to give institutional investors a more structured way to evaluate crypto. The index excludes Bitcoin and meme coins. Instead, it focuses on assets with real-world use, measurable revenue, liquidity, listing standards and sufficient market history.

The five largest holdings are Ethereum (ETH), BNB, Solana (SOL), Tron (TRX) and Hyperliquid (HYPE). The available materials do not publicly disclose the full list of 18 constituents. However, they identify Aave as one of the highlighted projects. Pantera said the assets in the index generated more than $3 billion in annualized revenue over the previous two quarters.

Revenue Becomes the Key FilterThe methodology takes inspiration from the S&P 500’s financial viability standards. Eligible protocols must record consecutive quarters of positive revenue above a minimum threshold. This data is verified through Artemis on-chain analytics.

But revenue alone is not enough. The economic value must also benefit tokenholders through mechanisms such as token buybacks, staking rewards after inflation, distributions or tokenholder-controlled treasuries. The index weights its constituents by float-adjusted market capitalization. It combines traditional market structure with a fundamentals-focused screening process.

S&P says the goal is to help investors move beyond hype and identify digital assets with measurable economic activity. Pantera founder Dan Morehead said the partnership addresses one of crypto’s biggest institutional challenges. He noted that a major challenge is knowing how to allocate capital across the sector.

ETF Plans and Bitcoin DebateThe index is currently only a benchmark, not an investment fund, and no ETF tracking has been launched. However, Pantera said it has begun discussions with asset managers about potential ETFs and other products based on the index.

The launch has also sparked debate in the crypto community. Some Reddit users believe a future non-Bitcoin ETF could give altcoins greater institutional exposure. It could also allow investors to combine a Bitcoin ETF with a separate altcoin allocation.

Others argue that Bitcoin’s exclusion could reinforce its identity as digital gold, while other crypto assets are increasingly viewed as utility networks or revenue-generating technology platforms. Some users also noted that the index cannot currently be bought or shorted because it is only a benchmark.

The launch follows other S&P digital asset initiatives, including a combined crypto and crypto-stock index and a tokenized S&P 500 fund with Centrifuge. Pantera’s “real economic value” framing is its own characterization. Additionally, any historical performance figures are back-tested and not guarantees of future returns.

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XRP Flashes Bullish On-Chain Signals as Rally Builds in Late July

The XRP Ledger is progressing toward its next major software phase as validator adoption for version 3.2.0 continues to rise steadily. Data from XRPL Explorer indicates that a growing number of validators and nodes are running the new software, though full migration has not yet been achieved.

Validator and Node AdoptionCurrently, 99 validators have upgraded to version 3.2.0, representing 66% of the trusted validator set. While this indicates significant progress, the update is still short of full deployment across the network. XRPL Explorer also reports that 481 nodes are operating on the new software, which amounts to 57.33% of all network nodes out of a total of 825.

Some nodes and validators continue to operate on previous software versions. Version 3.1.3, for instance, is still in use by 42 validators, accounting for 28% of the total trusted group. It also powers 322 nodes, or 38.38% of the total network.

VersionValidators% of Trusted ValidatorsNodes% of All Nodes3.2.09966%48157.33%3.1.34228%32238.38%To advance network updates, XRP Ledger has a defined amendment process. Each amendment proposal needs at least 80% support from the trusted validators, and this level must be maintained for two consecutive weeks prior to activation.

Amendment and Upgrade RequirementsAlthough adoption of version 3.2.0 continues to grow, the threshold required for activation has not yet been met. The network currently needs an additional 25 percentage points of validator participation at the new software version to move forward.

The version 3.2.0 release provides technical and infrastructural improvements along with several bug fixes for developers. One significant update involves the XLS-0095 specification. Additionally, the core software for the XRP Ledger is officially rebranded as ‘xrpld,’ replacing its former name, ‘rippled.’

Deployment of the 3.2.0 upgrade began on June 15. Both validators and node operators are required to implement changes to their configuration paths and deployment scripts to accommodate the rename and other technical adjustments. Database metadata references and directories must also be updated to reflect the new terminology.

Mini dictionary: XLS-0095, a technical specification for the XRP Ledger that introduces protocol improvements and modifications for enhanced network functionality.

Countdown to Fixcleanup 3.2.0 ActivationThe critical Fixcleanup 3.2.0 amendment has received broad support, with 30 validators in favor and 6 opposing during the most recent voting round. This represents a support rate of 85.71%, surpassing the activation requirement.

The amendment is now within its two-week mandatory activation window. The scheduled activation is set for July 29, 2026, at 09:57 UTC, provided validator support remains above 80% until that date.

XRPL Vet, a validator on the network, has advised node operators to complete their upgrades promptly before activation. The forthcoming update aims to improve existing functionality, with no introduction of new features. Among its objectives are addressing accuracy and rounding issues in single-asset vaults and lending protocols.

Further, the amendment seeks to resolve previously reported complications involving Permissioned DEX and Permissioned Domains. Successful implementation is contingent upon sustained validator backing above the required threshold, and operators are instructed to complete software and infrastructure updates ahead of the deadline.

Upgrade to version 3.2.0 is essential ahead of the July 29 activation deadline, especially as the Fixcleanup amendment targets long-standing rounding, permission, and domain consistency issues within the XRP Ledger’s infrastructure.

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