David Schwartz has announced that he will step down as Ripple's chief technology officer at the end of the year after more than 13 years at the company.
"The time has come for me to step back from my day-to-day duties as Ripple CTO at the end of this year. I’m really looking forward to spending more time with the kids and grandkids and going back to the hobbies I set aside," he said.
Schwartz was appointed as the company's CTO back in July 2018. Before him, this role was held by Coil CEO Stefan Thomas and Ripple/Stellar co-founder Jed McCaleb.
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In his statement, Schwartz stressed his appreciation for the company and the community, describing his time at Ripple as "one of the greatest honors and experiences of his life."
As happens in one’s life, I’ve been taking stock of my last 40 years. It’s been a wild ride. I’ve gone from consulting for the NSA to watching the early stages of Bitcoin. Then, I met Arthur, Jed, and Chris and worked on coding the XRP Ledger. Now, I’ve spent more than 13 years…
— David 'JoelKatz' Schwartz (@JoelKatz) September 30, 2025 He has also expressed his gratitude to Ripple's leadership (CEO Brad Garlinghouse and President Monica Long), co-founders Chris Larsen and Arthur Britto, as well as the RippleX team.
Joining board of directorsSchwartz has confirmed that he is not breaking ties with Ripple. In fact, he will be joining the company's board of directors. He will also remain involved as CTO Emeritus.
"I look forward to seeing the rest of you at XRP community events around the world," he said in a statement.
"You are my boss now?" Ripple's leadership has already reacted to Schwartz's upcoming exit. Garlinghouse has described Schwartz as "the smartest (and maybe the funniest) person" he personally knows. "A true OG in crypto with the conviction and vision to see what others couldn’t - you are a legend," he added.
He has also jokingly suggested that Schwartz will be his boss after joining the company's board of directors.
The smartest (and maybe the funniest) person I know. A true OG in crypto with the conviction and vision to see what others couldn’t - you are a legend. Thank you David for everything you’ve done for the industry, for Ripple and for the XRP Ledger. We are all forever grateful…… https://t.co/tt4uX4JlkV
— Brad Garlinghouse (@bgarlinghouse) September 30, 2025 Long has acknowledged that the "mighty community" would not have existed without Schwartz. "I deeply respect your ingenuity, integrity, humor, and humility, which you demonstrate daily..." Long said.
A prominent market analyst presents timelines for XRP to claim new heights, leveraging pointers from his “Bifrost Bridge” analysis.
The analysis comes on the back of XRP’s recent positive performance. The asset surged 283% in November, marking its best monthly performance in seven years. December is continuing this momentum, with XRP gaining an additional 26.4% just 12 days into the month.
Market analyst EGRAG has compared the ongoing rally with XRP’s trajectory in the 2017 cycle. He suggests that this current price behavior mirrors patterns observed before XRP achieved its all-time high (ATH) of $3.31 in January 2018.
Using his “Bifrost Bridge” analysis, EGRAG forecasts two potential price milestones for XRP: $6 and $27. Notably, he based these targets on Fibonacci retracement levels and historical price movements.
XRP Could Target $6 and $27 In his analysis, EGRAG highlighted XRP’s early 2017 market moves. For context, in March 2017, XRP rallied 150% from a critical support zone, which the analyst calls the “purple foundation.”
Interestingly, this initial rally set the stage for a more extraordinary 1,330% gain in May 2017. EGRAG projects that XRP’s ongoing uptrend could follow a similar trajectory. If the same percentage gains repeat, XRP may achieve new heights.
In the current December monthly candle, the analyst believes aims for the “gold region,” situated between $4.3 and $6.4. Data from the chart shows that these initial price targets align with Fibonacci retracement levels of 1.414 and 1.618.
XRP 1M Chart EGRAG Crypto Meanwhile, for the next monthly candle, January 2025, EGRAG sees a massive 1,330% rally that could push XRP into a second gold region. He expects this gold region to rest between the lofty prices of $13.7 and $27.3, aligning with another retracement zone.
EGRAG Dismisses Market Cap Skepticisms Notably, previous skepticism about achieving such targets had emerged. They often center on the increased liquidity and larger market cap in today’s crypto markets. However, EGRAG addressed this by comparing the total market caps for 2017 and 2024 (TMC).
In May 2017, the crypto market cap stood at $60 billion. Today, it has ballooned to $3.7 trillion, marking a 6,000% increase or a 61x multiple. EGRAG suggests applying this same multiplier to XRP’s 2017 market cap of $15 billion. This would result in a hypothetical $900 billion XRP market cap.
Interestingly, to contextualize these figures, XRP would need to capture between 9% and 18% of the TMC, depending on whether it grows to $5 trillion or $10 trillion. Given XRP’s use cases in cross-border payments, such dominance in market share is considered feasible.
For context, Ripple CEO Brad Garlinghouse previously predicted that the TMC could rise to $5 trillion. Today, XRP trades for $2.48, boasting a market cap of $140 billion and 3.96% market dominance. If its dominance reclaimed the 2017 peak of 31%, this would translate to an XRP market cap of over $1 trillion.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
A notable market veteran says XRP could reach a three-digit figure, suggesting the recent drop is just a retest of a double-bottom breakout.
Gert van Lagen, a Dutch technical analyst, noted this while discussing XRP’s price movements on the weekly chart. He argued that the current XRP price retracement could be a necessary retest, setting the stage for an explosive run that could surpass $100.
XRP Historical Double Bottom Structure His weekly chart highlights XRP’s historical patterns, with a focus on its first cycle. For context, during this period, XRP formed a similar double-bottom structure. After achieving an all-time high of $0.0614 in December 2013, XRP collapsed. This slump led to the first bottom at $0.00281 in July 2014.
Despite a recovery to $0.028 in December 2014, XRP failed to break its 2013 ATH. This resistance triggered another collapse, reaching a second bottom at $0.003 in January 2017.
XRP 1W Chart | Gert van Lagen However, in an interesting turn, a breakout from the double bottom led to a more substantial uptrend. After breaking above this double-bottom pattern in March 2017 and retracing to retest the breakout, XRP experienced a parabolic surge, reaching a new ATH of $3.31 by January 2018.
XRP Forms Similar Double-Bottom Fast forward to the current cycle, XRP’s price movements are similar to the previous behavior. After reaching its ATH of $3.31 in January 2018, XRP entered a prolonged bearish phase, which led to the formation of a second double-bottom structure.
The asset found its first bottom at $0.1140 in March 2020 before rebounding to $1.96 in April 2021. However, this recovery fell short of reclaiming the $3.31 ATH. A subsequent collapse brought XRP to its second bottom at $0.2870 in June 2022, following the market-wide turmoil triggered by Terra’s downfall.
This double-bottom setup is again signaling the possibility of a massive bullish breakout. November 2024 marked a crucial turning point, as XRP rallied by 283%, echoing a similar 284% surge from March 2017. Van Lagen believes this rally confirmed the double-bottom breakout.
A Healthy Retest However, XRP has since retraced to $2.2 amid a broader market pullback. Van Lagen asserts that this pullback is a healthy retest of the breakout zone. Notably, such retests are essential for establishing strong support levels.
Van Lagen predicts that if XRP replicates the previous run, it could surpass $100 this cycle. Specifically, data from his chart shows a likely rally to $150, marking an upsurge of 6,718% from the current $2.2 price. For context, XRP rallied 12,592% to $3.31 after a similar retest in 2017.
Interestingly, EGRAG, another prominent market analyst, confirmed the bullish outlook. He noted that he and other confident market watchers have faced ridicule for projecting rallies to double-digit prices. However, market veterans are now expecting XRP to hit a triple-digit price.
They used to call us crazy for saying double digits for #XRP now they are charting #XRP for 3 digits.
Trust the process.
Men lie, women lie but charts don’t lie https://t.co/Y7XTvA7FM2
— EGRAG CRYPTO (@egragcrypto) December 19, 2024
For context, EGRAG has always been confident that XRP could reach $27. Most recently, he identified an XRP profit-taking zone between $4.42 and $27.86, based on Fibonacci extensions. He also recently introduced the “Bifrost Bridge” framework, which suggests XRP could reach $6 by December 2024 and $27 by January 2025.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
XRP may be preparing for another historic price breakout, according to analyst EGRAG, who believes the token is moments away from igniting a 600% rally.
XRP’s initial uptrend momentum has momentarily stalled over the past few days, as the coin continues to consolidate above $3. Today, the price has even dipped by over 5%, trading at $3.15 at press time.
Meanwhile, savvy market watchers like EGRAG are spotting cues for the next historic price movement. According to him, the trigger would be a strong close above what he calls the “Bifrost Bridge,” a resistance zone that has capped XRP for over 240 days.
The Bifrost Bridge: XRP’s Final Barrier Before Liftoff In a chart shared with followers, EGRAG highlighted a long-term trend channel dubbed the Bifrost Bridge. Notably, this marks a zone of historical resistance that XRP has tested for more than 242 days.
According to his analysis, XRP has been stalling beneath this level, but a decisive close above it could initiate a parabolic move toward $27. EGRAG notes that once this barrier is cleared, XRP could gain over 600% in what he calls a mega pump.
EGRAG’s XRP chart with The Bifrost Bridge Amid the long wait for the widely teased lofty prices, EGRAG urges the XRP community to “hold steady and strong,” promising that “Soon We Shall Fly So High.”
$4–$15 Still in Play: Other Analysts Agree EGRAG’s explosive target is not without support. Earlier this week, analyst Zach Rector forecast that XRP could hit $4 to $5 “any day now,” calling for a breakout in the short term.
His chart highlighted a consolidation structure around $3.19, with a breakout window stretching from August 23 to September 7. Beyond the $5 zone, Rector places XRP’s mid-to-long-term upside between $7 and $15.
Fibonacci Targets Add Technical Backbone Meanwhile, Tony Edward of the Thinking Crypto Podcast shared a separate weekly chart showing Fibonacci extension levels that point to $4.50, $6, $8, and $9 as potential price targets for the coin this season.
These Fibonacci targets present a technical structure that aligns with the $15 projections shared by other analysts and may act as steppingstones on the way to EGRAG’s $27 moonshot.
Historical Surge Patterns Back $20–$30 Possibility In previous analyses, EGRAG has also referenced XRP’s historic rallies to justify his bold upside projections. He recently pointed to a 2,600% surge in 2017 to support a $33 price target for this cycle, and a 500% surge in 2021 to argue for $7.
Averaging these, EGRAG outlined a $20 target for the current cycle, which aligns with the ongoing 600% projection.
With $3.66 as the next resistance and the Bifrost Bridge holding the key to a massive pump, XRP’s next few weekly candles may prove historic. If bulls can break and close above this zone, a swift run toward $7–$15 and potentially $27 may follow, according to these analysts.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
XRP is nearing a critical moment, and chart analyst EGRAG says the final leg of the rally is still ahead, and it could be epic.
In a recent update, EGRAG shared a long-term 6-month XRP chart, noting that only 4 months and 29 days remain before the current candle closes.
XRP’s Final Leg Is Coming The analyst raised an intriguing question for the XRP community: Has the peak already passed unnoticed, even by seasoned observers like himself, or is the market on the verge of making history by surpassing a significant price barrier?
Notably, XRP has experienced two phases of historic price pumps over the past year. The first began in November 2024, with XRP reaching $3.40 in January, delivering a surge of nearly 600%.
After cooling off, a renewed bullish phase emerged in July, with XRP breaking past levels that many believed marked a new all-time high. In particular, XRP reached $3.66 before pulling back.
Some consider this an all-time high, while others argue the true high won’t be confirmed until XRP surpasses $3.84.
Meanwhile, as the market awaits the next bullish phase, some traders have begun shorting XRP, claiming the bull run is over. However, others maintain that prices in the $10 range remain possible.
Despite the prevailing uncertainty, EGRAG remains confident in a bullish outcome. He stated that he belongs to the camp expecting one final massive price jump before a bear season emerges.
Based on this conviction, he outlined how he believes XRP could perform in the upcoming phase.
XRP to $4.89 or $48.90? In his analysis, EGRAG identified two potential price targets for XRP, depending on the type of scale used. On a non-logarithmic scale, the target is $4.89. However, on a logarithmic scale, the target is a much higher $48.90.
With XRP currently trading around $3, reaching $4.89 would require a gain of only 63%. Meanwhile, the higher target would demand a far more challenging 1,530% surge.
Rather than favoring one scale over the other, EGRAG proposed averaging both targets, arriving at a middle-ground projection of $27. Notably, this would represent an 800% gain from today’s price.
EGRAG’s XRP 6-month chart Supporting Analysis This price target was also featured in a previous analysis by EGRAG, where he explained what could trigger the surge. According to him, the key catalyst is a strong close above the “Bifrost Bridge,” a resistance zone XRP has tested for over 240 days.
Breaking above this level could propel XRP toward $27. Other analysts also expect near-term targets between $4 and $15, supported by technical indicators like Fibonacci extensions.
Historical surges in 2017 and 2021 lend further credibility to EGRAG’s bold forecast, suggesting that the $20–$30 range could be within reach if XRP breaks through critical resistance.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
XRP has broken below a descending triangle structure, but market analysis shows why the token’s bullish upside target remains in play.
According to a recent market exposition from EGRAG Crypto, a renowned chartist, the Bifrost Bridge, a long-standing ascending channel that has guided XRP’s price action since 2014, remains relevant. With XRP still within this channel, he believes the $9 to $13 target remains in play.
Key Points XRP underwent 14 months of accumulation, after which it broke below a descending triangle, as the market expected. EGRAG argues that the triangle breakdown was an effort to sweep downside liquidity, not a trend failure. XRP remains within the Bifrost Bridge, a multi-year ascending channel that has guided its price action since 2014. As long as the Bifrost Bridge remains relevant, XRP’s upward targets of $9 to $13 remain in play. XRP Descending Triangle Breakdown EGRAG’s recent bullish commentary comes despite XRP’s current price struggles. For context, since hitting $3.6, the altcoin has continued to face turbulence alongside the rest of the crypto market. This has resulted in six consecutive monthly declines, with XRP initially eyeing a seventh loss at the start of this month.
Data from EGRAG’s chart shows that the downtrend led to a breakdown below an existing descending triangle. Notably, after XRP hit $3.4 in January 2025, its price action entered an accumulation phase that, according to EGRAG, lasted for 14 months.
During the accumulation, XRP formed a descending triangle structure as it dropped from the $3.6 all-time high in July 2025. The market analyst noted that descending triangles statistically have a 60% to 70% chance of breaking down.
XRP 1M Chart | EGRAG Crypto This bearish expectation played out when XRP closed the February 2026 monthly candle below $1.6, the level that aligns with the triangle’s lower trendline. Since then, XRP has continued to trade below the descending triangle.
Bifrost Bridge Still Relevant However, while the market currently witnesses bearish conditions, EGRAG pointed out that XRP still trades within the ascending channel structure he calls the Bifrost Bridge. Data from his chart shows that this channel has guided XRP’s price movements since 2014.
According to him, the Bifrost Bridge will continue to act as his guide, and the structure maintains a bullish outlook. EGRAG suggested that as long as XRP remains within the Bridge, its overall bullish trend remains intact, and the upward move that started in November 2024 has not ended.
The analyst insists that triangles typically highlight short-term moves, but channels are what define the overall cycle. He noted that the longer the accumulation, the more explosive the ensuing expansion will be.
XRP witnessed a whopping 14 months of accumulation, and EGRAG believes this compression only acts as fuel for the imminent upward push. With this, EGRAG expects the rally to eventually result in a $9 to $13 target, which he has maintained for some time. From the current price of $1.41, XRP would need to rise 538% to 822% to reach the target range.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
XRP could be headed for one final drop toward the key $1 level before a larger recovery begins.
Analyst Arthur believes several technical and regulatory factors are lining up for a possible turning point. His comments come as XRP remains under pressure in the ongoing crypto market decline.
Notably, the token is currently trading at $1.13, down 2.21% over the last 24 hours, according to CoinMarketCap.
Key Points Analyst Arthur says XRP could make one final move toward $1 before a stronger recovery begins. XRP has broken a long-term downtrend line, a sign that bearish momentum may be fading. Arthur sees the upcoming Clarity Act discussions as a potential catalyst for XRP’s next move. The CMC Altcoin Season Index fell 6.52%, signaling capital is rotating out of altcoins and into safer assets.
Analyst Targets $1 Liquidity Zone In a chart shared on X, Arthur highlighted XRP’s weekly structure. He pointed to the 0.786 Fibonacci retracement level near $1.17, noting that it has already been tested twice.
Arthur also noted that XRP has broken a long-term descending trendline that stretches back to its all-time high. This could be a sign that the downtrend is weakening. However, he does not believe the market is finished with the $1 area.
“$1.00 still sitting there. Full of liquidity,” Arthur wrote.
According to him, traders and market makers could push XRP down to $1, or even slightly below it, to trigger stop-loss orders and shake out weaker holders. He sees this as a final liquidity sweep before a stronger upward move begins.
The chart also identifies a support zone between $0.95 and $1.00. Arthur believes this area will be important if selling pressure continues.
Clarity Act as Potential Catalyst Arthur also pointed to the Clarity Act in the U.S. Senate as a possible catalyst for XRP. He noted that July 4 is a target date for progress on the legislation. That places the event about a month away.
In his view, regulatory clarity combined with improving market structure could create favorable conditions for XRP once the current correction ends.
Community Agrees With Shakeout Scenario Arthur’s analysis received support from Korean market commentator @free_salaryKR. The commentator described the $1 level as a “massive psychological magnet.”
He argued that a move into that area would be a classic liquidity hunt, forcing impatient traders out of their positions before a larger rally.
According to his analysis, the combination of a broken all-time-high trendline, Fibonacci support, and the Clarity Act timeline creates what he called a “textbook setup” for a potential reversal.
XRP Falls Alongside Broader Crypto Market Despite the bullish long-term outlook, XRP remains caught in a market downturn. CoinMarketCap data shows that total cryptocurrency market capitalization fell 2.07% over the past 24 hours.
Investor sentiment has also weakened sharply. The Fear & Greed Index currently sits at 17, signaling “Extreme Fear.”
Meanwhile, the CMC Altcoin Season Index dropped 6.52%. This suggests capital continues to move away from altcoins like XRP and into relatively safer assets during the current macro-driven sell-off.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Crypto markets holding on to weekend gains; Bitcoin still dominating, XRP moving up, ETH retreating slowly. Market Wrap Crypto markets have held on to weekend gains and there has been no typical ‘Red Monday’ reaction so far. Bitcoin’s surge to new 2019 highs has buoyed up markets and several altcoins have also gained. A number have fallen however, but in general total market capitalization is high and holding above $280 billion.
Bitcoin traded above $9,300 twice yesterday marking a new high for thirteen months. A pullback dropped BTC price back to high $8,000s but it quickly recovered during Asian trading today to reach $9,200 again at the time of writing. Technical indicators and historical highs show a lot of resistance at $9,600 which will need to be broken for BTC to hit five figures.
Ethereum got a weekend boost reaching $278 but it has not been able to follow Bitcoin and hold those gains. ETH is down 2 percent since yesterday dropping prices back below $270. The longer term trend for ETH is still up though so more momentum could take it to $280 this week.
The top ten is pretty mixed during Asian trading on Monday morning. XRP is showing a little progress with a further 2 percent added taking it to $0.429. Litecoin has remained flat following its epic rise last week and is still at $135 and the rest are level with yesterday’s prices.
Top twenty movements are also mixed with Cosmos and Tezos getting the best performance adding over 4 percent each to reach $6.54 and $1.33 respectively. NEO has added almost 3 percent and NEM is back in the big twenty with a 5 percent gain. As above, the rest are pretty flat this morning.
FOMO: A Smiles For Grin Entering the crypto top one hundred with a 12 percent push is Grin, a private lightweight blockchain based on mimblewimble. The only thing that could be driving momentum is an approaching hard fork next month. Bytom is the only other double digit altcoin today with 11 percent added, BitTorrent token is third gaining over 8 percent.
There are no big dumps going on as markets remain flat on the day. At the bottom of the pile right now is Dent, MaidSafeCoin, and KuCoin Shares dropping 5-6 percent.
Total market cap 24 hours. Coinmarketcap.com Total crypto market capitalization is at $284 billion, holding gains but remaining flat over the past 24 hours. Since last Monday crypto markets have gained a solid 16 percent, driven largely by Bitcoin. Over the same period daily volume has jumped from $60 to $75 billion. Bitcoin dominance is also up to 57.3 percent as it continues to eat into lack luster altcoins.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
Over the last three days, cryptocurrencies have registered one of the biggest price jumps and crypto enthusiasts are more optimistic than ever about the future. The market cap of the aggregate crypto market stands at around $250 billion, after gaining more than $50 billion in days. According to some analysts, this unexpected ascent was as a result of the comments made by the Chinese President Xi Jinping and the passing of the crypto law that will see increased use of blockchain technology in China.
The Chinese crypto FOMO has had a profound effect on digital assets than ever witnessed, with Chinese-centric coins posting the most gains. To cap it all off, a major Chinese bank has invested in a local bitcoin wallet provider.
Chinese Crypto FOMO Massively Pumps The Market The comments by Xi Jinping and the passing of the cryptography law came as a huge surprise to many considering the fact that China has been on the forefront to fight cryptocurrency. Now, the Chinese government is seemingly taking a bold step towards the adoption and growth of blockchain technology, presumably to gain an edge in the budding digital landscape.
On Friday last week, Jinping made some positive comments about blockchain technology. On Saturday (26/10/2019), the standing committee of the 13th National People’s Congress passed the cryptography law which will take effect early next year. This law is designed to standardize the application of passwords and the use of blockchain technology.
These events have had a tremendous effect on the crypto economy. Overall, the prices of almost all the cryptocurrencies have improved a great deal over the last few days. These gains have been monumental compared to the impact seen with Bakkt, Facebook’s Libra or the hope of approval of ETFs by the USA regulatory bodies.
Chinese-Centric Coins Record Huge Gains Although the news coming from China pumped the entire crypto markets with bitcoin, XRP, Ethereum, and other top cryptos posting considerable gains, Chinese-centric coins are noticeably enjoying the lion’s share.
TRON (TRX) has gained 15.60 percent against the US dollar in the last 24 hours. TRX climbed from $0.0137 to $0.020244 at press time. Its market capitalization stands at $1.35 billion, making TRX the tenth-ranked cryptocurrency. TRX’s ascent is as a result of several bullish reports surfacing from China. Additionally, TRON founder Justin Sun recently mentioned an upcoming partnership between Tron and a 100 billion dollar megacorporation. According to Sun, this partnership will promote the distribution of TRON Dapps and tokens to a vast number of customers.
Other cryptocurrencies that have some sort of tie to China are posting massive gains. Bytom, Ontology, VeChain, and IOST are up by 37.78%, 11.37%, 5.31%, and 8.19% respectively in just 24 hours.
Chinese Bank Invests In Bitcoin Wallet BitPie According to a couple of crypto analysts, bitcoin was headed towards a bearish territory, the Death Cross. This is a scenario that happens when the 50-day moving average drops below the 200-day moving average. In simple terms, before Friday, bitcoin’s technical outlook looked dismal but dramatically changed after comments from the Chinese leadership.
Chinese bitcoin FOMO has risen, so much so that a Chinese bank has reportedly invested in a local bitcoin wallet platform. According to a well-known industry analyst and founding partner of Primitive Crypto Dovey Wan, China Merchants Bank has invested in BitPie, one of the longest-serving bitcoin wallet provider in China. BitPie is a non-custodial wallet and so far has the largest number of users. Per Wan, this move is a continuation of the growing trend of crypto and blockchain nationalization in China. She summed it up nicely, stating:
“All I can say is this ton me it’s a sign of [the] beginning of the nationalization of Bitcoin/cryptocurrency related infra in mainland [China]. Eventually, all things can be state-owned, or at least partially (mining, ASIC, exchanges, wallets, etc).”
Does This Mean China Is Finally Unbanning Bitcoin And Cryptocurrencies? In 2017, the Chinese government restricted trading on local cryptocurrency exchanges and banned ICOs. However, it appears that the Chinese government is now taking a different approach. In addition to embracing blockchain technology, reports say that the Chinese Communist Party (CCP) is distributing material intended for blockchain learning, with content about bitcoin and ethereum as well.
Moreover, Sichuan Daily reported today that Yang Jiang, former Vice-chairman of the China Securities Regulatory Commission suggested that Sichuan province should open up more business opportunities in the region using both bitcoin and blockchain technology.
It’s worth noting that the remarks made by Jiang are not representative of the Chinese government. However, they come just a few days after the Chinese president Xi Jinping made impressive comments about blockchain. This goes to show that China is not only becoming more interested in blockchain technology but also in bitcoin.
While it is rather improbable that the Chinese government would create any kind of competition for its upcoming digital currency, the hard-line stance on bitcoin and cryptocurrencies seems to have changed considerably.
China is abuzz with all things blockchain. Since Thursday, when Chinese President Xi Jinping delivered his ringing endorsement of digital ledger technology, China has seen an abundance of new initiatives, positive sentiment and surges across cryptocurrencies and blockchain related stocks.
In late 2017, in a bid to protect retail investors burned by the ICO craze, China adopted a tough stance on cryptocurrencies, while continuing to champion blockchain, the underlying technology. The global effect wasn’t instantaneous, but many analysts saw its attitude to cryptocurrencies as a harbinger of the fall in Bitcoin and other cryptocurrencies over the following months.
Xi’s calls last week for China to “take the leading position” in blockchain, as a “core technology,” and for industry investment and support, have resulted in what many are calling a new boom for the industry.
Here’s how that’s playing out in China and beyond.
1. Crypto boom timeBitcoin (BTC) surged 24% in the 24 hours following Xi’s comments, reaching $10,350 in its biggest two-day leap since late 2017. Other major cryptocurrencies including Ethereum (ETH) and Ripple's XRP also saw big gains. Pundits took to Twitter to proclaim that the president’s comments had sparked a crypto boom, though not everyone was in agreement.
$BTC has moved +42% today
- 4th largest gain in history and largest since May/10/2011 (if comparing against daily returns).
- 15th largest two-day gain in history, Nov/18/2013.
Thank you China.
President Xi is the true Crypto Dad.
— Alex Krüger (@krugermacro) October 26, 2019
2. Soaring blockchain based stocks Government support of preferred Chinese industries translates to billions of dollars in cheap financing and other subsidies, with investors alert for any sign of favoritism towards a certain sector.
As a result of Xi’s pronouncement, Chinese investors have been snapping up shares in blockchain-related businesses. More than 85 stocks hit the 10 per cent upside limit that halts trading in Shenzhen and Shanghai, the Financial Times reported today. Even businesses only marginally related to blockchain benefited, including an index of blockchain-related equities compiled by data provider Wind which saw an 8.9 percent rise to its highest level since April. In Hong Kong, Pantronics Holdings, which was acquired by crypto exchange Huobi, soared as much as 62 per cent.
“It’s all because of Xi,” Pan Shaochang, an equity analyst at financial services startup Dongwu Securities, told the FT. He added that many of these businesses were still at an early stage, but that “the growth potential is huge.”
3. Chinese crypto renaissanceChinese cryptocurrencies have emerged from the doldrums to take centre stage. Home-grown cryptocurrencies NEO, Ontology (ONT), Quantum (QTUM), VeChain (VET) and others saw gains of more than 50%. Bytom (BTM), saw an increase of 459%, as per reports on China’s Huobi exchange. Such staggering gains caused commentators to ridicule the influence on the market of crypto startups such as Bitcoin futures exchange Bakkt or Facebook’s Libra coin.
Ahahahahahhaha, now on Chinese CT
" Fuck ETF, fuck Bakkt, fuck Libra, none of these BS will pump, only we Chinese pump with real money, the only way to pump"
(excuse me for the F word... try my best to translate from very Chinese slang)
— Dovey 以德服人 Wan 🗝 🦖 (@DoveyWan) October 28, 2019
Chinese research agency CCID today poured oil on these claims with its update of global project rankings. EOS retrained its pole position, but Swiss-headquartered Ethereum gave way to China-based Tron. While the CCID’s methodology has been questioned by some, it’s also gained credence after Xi’s comments.
4. Surging interest across Chinese mediaBlockchain has been all over the Chinese media since Xi’s remarks, with @cnledger, a Twitter account for China's crypto industry, noting that it’s been reported on “intensively” across national TV channels and newspaper headlines.
Search volumes for keywords related to blockchain also spiked on Chinese search engine Baidu and messaging app WeChat after the presidential speech. China-based Google searches rose significantly, suggesting that Xi’s remarks had encouraged intense interest in cryptocurrencies, said Reuters.
"There have definitely been more conversations since the weekend," Anthony Wong of Hong Kong-based crypto investment firm Orichal Partners told the New York Times.
5. China’s national digital currency is imminentIn recent months, China has stepped up plans to launch its own national digitial currency, with the People’s Bank of China hiring experts to join its Digital Currency Research Institute (DCRI). Huang Qifan, vice chairman of the China Center for International Economic Exchanges (CCIEE), predicted in an interview with tech news site Pandaily that China would be first off the mark with a national currency. Many believe that the FOMO (fear of missing out) generated by Facebook’s efforts to get its cryptocurrency Libra off the ground has led Beijing to accelerate its efforts. While no date has yet been set, Li Wei, head of the People’s Bank of China’s technology department, today told a Shanghai forum that, in preparation, commercial banks should step up their application of blockchain technology and embrace digital finance.
6. China’s blockchain ecosystem is expandingChina’s blockchain industry is in rude health. The Chinese government requires blockchain projects to register with its Cyberspace Administration, and more than 500 blockchain projects have done so since March, run by state-owned banks, courts and tax offices, as well as commercial tech conglomerates. China’s most popular app, Xuexi Qiangguo, has launched government-run courses in Bitcoin and Ethereum.
And China looks set to expand its focus on blockchain education; in his speech, Xi called for the creation of new initiatives such as “Blockchain+,” a platform for “personal development” in areas such as education, employment and health. China’s Communist Party is even urging patriots to “seize the opportunity” created by the technology, and swear their allegiance via blockchain.
7. China has introduced its first cryptography lawChina’s national congress on Saturday passed a new law designed to encourage research and development on commercial cryptography technologies. It also aims to build up standardized regulations for the industry, in preparation for the upcoming challenges the nascent sector will face. On Twitter, it sparked comparisons with the approach taken by the U.S.
A pal sent me this from Vegas. If the US regulators don’t allow for fintech innovation, the Chinese will eat our lunch. Xi’s comments on Friday were significant. Crypto and blockchain will be part of the financial and consumer infrastructure in the future. Buy the dip. $btc pic.twitter.com/prM9VvjT3x
— Michael Novogratz (@novogratz) October 26, 2019
But what of Bitcoin? Will developments in China continue to fuel the recent meteoric rise of the original cryptocurrency? Sentiment is, broadly speaking, bullish: “The positive comments from the Chinese leader will continue to support the broader crypto prices to maintain at current levels,” Andy Cheung, head of operations at Malta-based OKEx, an exchange popular among Chinese users, told Reuters.
Cheung’s not alone in his thinking. “It’s likely that momentum, perhaps partly driven by FOMO, will now pick-up pace again in the cryptocurrency sector,” Nigel Green, CEO of financial advisory deVere Group, told Decrypt.
Chinese websites have pointed out that blockchain is not the same as interest in bitcoin, of course. But the country’s newfound enthusiasm for blockchain seems just as extreme as its previous erstwhile ban on crypto, with @cnledger even claiming that “Articles saying blockchain technology is a scam are now BANNED.”
3/ Articles saying blockchain technology is a scam are now BANNED.
Who still remember the days when posts promoting blockchain getting deleted real fast? pic.twitter.com/W5iRJ3PDYS
— cnLedger (@cnLedger) October 28, 2019
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Bitcoin went on one of its most impressive runs ever last week, surging over 42% in just a day. Not only did this make last week the best one Bitcoin has had since May, it also brought positive sentiment back to the market, which had previously been fairly bearish.
However, Bitcoin has since retraced and is currently trading at around $9,200. Interestingly enough, BTC flash crashed to slightly above $9,000 earlier today, but it managed to recover fairly quickly. At the time of this writing, Bitcoin is down about 2% on the day.
BTC/USD. Source: TradingView We also saw a very slight decrease in Bitcoin’s dominance rate, suggesting that altcoins have managed to capitalize somewhat on the flash crash. Indeed, all of the top 10 cryptocurrencies by market cap are trading in the green against BTC, having marked slight increases. ETH is up about 2%, the same as XRP. Bitcoin Cash is up about 3.6%, and all others have seen minor gains in the range of 0.5% – 1.5%.
Major Cryptocurrency Headlines Bitcoin Cash Spikes 10% as Jihan Wu Resumes Control of Bitmain. Jihan Wu, who stepped away from Bitmain’s operations at the beginning of this year, has since resumed control over the company, ousting the CEO, Ketuan Zhan. In an email to staff, Wu directed employees to not take any orders from Zhan or participate in meetings organized by him. Bitcoin Cash’s price rose by 10% on the news. Wu has previously expressed his support for the cryptocurrency, as Bitmain spent around 70% of its 2017 operating cash flow to buy BCH.
China’s CCIEE Chair: We Will Be the First to Launch Central Bank Digital Currency. The vice-chairman of China’s Center for International Economic Exchanges (CCIEE), Huang Qifan, maintained that the country will be the first to launch a blockchain-based central bank digital currency. He also said that he doesn’t believe in Facebook and its potential cryptocurrency, Libra. However, he feels that digital currencies of the kind are needed because conventional payment methods are outdated.
NEO and Other Made-in-China Cryptocurrencies See Huge Price Gains. The news from China sparked a rally throughout the cryptocurrency market. However, China-based projects saw particularly impressive gains. Bytom, NEO, Ontology, Qtum, and GXChain were among the more notable gainers.
You may also like: Bitcoin Price Crashes Below $60K as Strategy’s MSTR Plunges 10% Mining Profits Dry Up Across Bitcoin, DOGE, LTC, and BCH Bitcoin’s Network Is Booming Even as Prices Remain Below Record Highs The Biggest Winners and Losers NoahCoin (+1177%) NoahCoin rallied hard, surging upwards of 1,100% in less than a day. The project recently announced that users could swap their tokens for native ones. Given that this update was made around a month ago, however, there is no apparent reason for the recent surge. In any case, NoahCoin is currently trading at around $0.004, which is a staggering increase compared to its price a day ago when it was only $0.00028.
IOST (+31%) IOST is another project which saw significant gains over the past 24 hours despite the seemingly stalling cryptocurrency market. Having increased by upwards of 30%, IOST is currently trading at around $0.0075. Interestingly enough, it surged even more against Bitcoin, gaining more than 35%. The project’s total market cap is now over $90 million.
Bytom (-10%) Bytom was one of the biggest gainers during last week’s rally, as mentioned above. The coin surged about 80% following the news out of China, but it has since cooled off and is actually down over the past 24 hours. BTM marked a decrease of around 10% and its price is currently around $0.11, though its total market cap remains well above $113 million. The cryptocurrency is also down around 7.5% against BTC.
A further $6 billion has been added to total crypto market capitalization over the past 24 hours and it is altcoins that are leading the gains. A big dose of Chinese FOMO boosted home grown projects there and Stellar’s coin burn is igniting them this morning, but are they destined to dump again?
Crypto Cap and Volume Rising Total market cap reached $253 billion a few hours ago which is the highest it has been for a week. The bigger picture shows more range bound trading but altcoins appear to be driving momentum at the moment.
Total market cap 24 hours – Coinmarketcap.com The chart also indicates that daily volume has climbed almost 30% since the beginning of the week as everything looks green at the moment. Trader ‘Paddy Stash’ has noted the increase in altcoin dominance over the past week as BTC failed to top 70% and has started to decline in terms of market share.
“Altcoin dominance has continued to climb back upwards since the big $Btc spike from $7.4 to over $10k last week.”
While the ‘China effect’ heavily influenced the prices of NEO, Tron, Qtum, VeChain, Bytom and other local blockchain platforms last week, others are getting a lift today.
ParallelCoin Pump and Dump Something called ParallelCoin is looking very spurious at the moment as CMC is reporting a 7,000% surge for DUO tokens. ‘Crypto Bitlord’ has called it a dangerous pump and dump scheme which should be avoided.
Another altcoin having a serious pump at the moment is Stellar as the Foundation just burnt 55 billion uncirculated XLM tokens. The crypto community is skeptical however and the 25% price pump has already started to fall off.
Stellar is currently priced at just over $0.08 and has knocked Tron back out of the top ten with a market cap of $1.6 billion. Ripple’s XRP got a related pump at the same time of just over 4% which takes the token back over $0.30 where it faces heavy resistance. This week’s Swell event could help XRP to break through that though.
Ethereum has made a small 2.5% move to hold above $185 at the moment while BCH remains flat at $290. Litecoin has made a solid 6% to break above $60 while EOS adds a similar amount to reach $3.45.
BSV and Cardano have gained over 5% a piece in the past few hours and Cosmos has cranked 12% as it reaches $3.80. The two Chinese altcoins VeChain and Qtum are also going strong today with 7% gained.
Bitcoin has made minor gains to reach resistance at $9,400 again but until it surges back into five figures the altcoins are unlikely to climb any higher. It is still likely that a dump will follow whatever gains altcoins have made today as altseason is still a long way away.
Coreum has announced plans to launch its XRP Ledger (XRPL) cross-chain bridge, which could allow users to move assets between Coreum and the XRPL and potentially leverage the AMM on Coreum.
Bob Ras, the co-founder of Coreum and Sologenic, shared this information in a post on X last night. He disclosed that the XRPL cross-chain bridge from Coreum is on the verge of being operational. This development will enable effortless transfers of all issued assets between the two networks.
It bears mentioning that Coreum already launched its bridge to the XRPL in the fourth quarter of 2022. However, this bridge only allows the transfer of COREUM tokens from the XRPL to the Coreum blockchain. By the end of last year, users had bridged 37 million COREUM.
The upcoming development is set to expand this capability by also allowing the bridging of all assets from Coreum to the XRPL and vice versa. In a disclosure last December, the Sologenic team teased upcoming advancements to the bridge, including multi-asset support and bigger interoperability capabilities.
According to Bob Ras, with these advancements, assets issued on the XRP Ledger will also benefit from Coreum’s smart token technology. The smart token technology allows users and businesses to issue assets on Coreum with in-built smart contracts functionality.
XRPL Users Could Leverage the Coreum AMM In addition to this benefit, Ras emphasized that the upcoming bridge functionality will also create an opportunity for assets issued on the XRPL, including XRP, to engage actively in AMM pools on Coreum.
Bob Ras called on builders on Coreum to help facilitate this. In particular, the Coreum co-founder beckoned on Pulsara, a Coreum-based ecosystem featuring an exchange and a token manager, among other services, and Whelp, a fast-growing Coreum-based DeFi hub.
According to Ras, these two entities could try developing a UI for the bridge and launch new pools featuring Coreum-based and XRPL-based tokens so users from both ecosystems can leverage the AMM on Coreum. He highlighted token pairs such as XRP/Coreum, SOLO/XRP, SOLO/Coreum, XRP/USDC, and SOLO/USDC.
Notably, the XRP Ledger is also looking to welcome its native automated market maker (AMM), with the XLS-30D amendment set to be implemented on Feb. 14. The amendment has already reached the minimum consensus threshold.
Notably, the upcoming advancements to the Coreum bridge and the imminent implementation of the XLS-30D amendment could allow XRPL users to earn passive income with AMMs in both ecosystems.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Bob Ras, the Co-Founder of Coreum and Sologenic, has argued that the XRP Leger is at risk of replacement amid Ripple’s alleged selective funding of projects building on XRPL.
Ras recently voiced this sentiment in a series of posts on X. Notably, he issued a compelling call to action directed at Ripple, its development team RippleX, and its CEO Brad Garlinghouse.
Ras emphasized that his message is not to propagate fear, uncertainty, or doubt (FUD) about XRPL. Instead, it stands as a clarion call to awaken XRPL believers to the platform’s current challenges.
(1/10)🧵Unleashing XRPL's Potential!
Calling all #XRPL believers! @Ripple, @RippleXDev, @bgarlinghouse – This isn't FUD, it's a wake-up call. As a founding member of an early XRPL project, I'm deeply concerned about recent events. Let's break it down.
— Bob Ras (@bobrasX) March 25, 2024
Sologenic’s Contributions to XRPL First, Ras drew from his firsthand experience as a founding member of an early XRPL project, Sologenic. He asserted that before Sologenic, the XRPL decentralized exchange lacked usage.
However, according to Ras, announcing their intention to build on XRPL illuminated the network’s potential. Ras reminisced that the development prompted more projects to recognize the feasibility of building on XRPL despite its limitations.
Thereafter, his team went on to develop Sologenic into an enterprise-grade tokenization solution on XRPL. Their efforts included an exhaustive 18-month pursuit of regulatory approval for a broker-dealer license.
However, the landscape shifted dramatically when the SEC lawsuit against Ripple emerged, “shattering regulatory confidence in the entire XRPL ecosystem.”
Coreum’s Contributions to XRPL Amid this development, Ras noted that his team pivoted towards developing Coreum, a blockchain featuring smart contracts and interoperability with other networks.
He pointed out that Coreum’s utility addressed the deficiencies of XRPL and empowered developers to explore innovative use cases with newfound functionalities.
Last week, Ras’s team unveiled a decentralized, open-source bridge between XRPL and Coreum. The development facilitates seamless transfer of XRPL assets to Coreum while enabling connectivity to Inter-Blockchain Communication (IBC) chains.
With this bridge in place, developers gain access to smart token technology. In parallel, it unlocks many innovative use cases for all XRPL assets that extend beyond just XRP and Sologenic’s native token, SOLO.
Moreover, retail users can earn rewards by participating in automated market maker (AMM) pools on Coreum and other IBC chains.
XRPL At Risk with Ripple’s Selective Funding However, Ras raised concerns regarding the RippleX team’s recent endorsement of misinformation regarding another chain’s bridge being the first to implement IBC. He asserted that such actions are misleading and detrimental to the collective efforts of the entire XRPL developer community.
Based on this premise, Ras claimed Ripple shows partiality in supporting XRPL projects. He emphasized that it is in Ripple’s best interest to advocate for all innovative projects developing use cases for XRPL rather than exclusively supporting initiatives associated with ex-employees. He cited examples of a $100 million allocation to the XRPL project Coil.
Furthermore, Ras stressed that without embracing innovation and overcoming its limitations, XRPL faces the same fate as the outdated phone companies replaced by the iPhone due to their failure to innovate.
“To truly care about XRPL, Ripple needs to stop selective funding and support ALL developers building the future,” Ras Lamented.
(8/10) Remember how the iPhone replaced outdated phones? XRPL risks the same fate without embracing innovation. To truly care about XRPL, Ripple needs to stop selective funding and support ALL developers building the future!
— Bob Ras (@bobrasX) March 25, 2024
He added that the XRP community has patiently waited for Ripple’s disruption of cross-border payments and replacement of SWIFT. However, Ras urged Ripple that, if the vision remains distant, it should instead support all builders contributing value to XRPL to foster ecosystem growth like other successful Layer 1 networks.
Ultimately, he emphasized that his message is not an attack but a call to action to unlock XRPL’s potential as an innovative ecosystem. Ras reiterated the shared desire for XRPL’s success among its community.
Notably, this argument of Ripple not supporting some projects pushing solutions around XRP has persisted for a while. It recently reemerged amid the pioneer NFT project of XRPL announcing its migration to Solana due to a “lack of support.”
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
The volume of XRP bridged by market participants to the Coreum network has surged by 2,703%, reaching 1.6 million tokens within a span of two weeks.
Since the launch of the Coreum blockchain last March, the team behind the project has continued to make efforts toward interoperability with other chains. The latest effort involved the introduction of a two-way bridge between Coreum and the XRP Ledger (XRPL).
Data indicates that the bridge, which facilitates seamless movement of XRP and other assets between the XRPL and Coreum, has continued to garner attention from network participants. This has resulted in the Coreum ecosystem welcoming over 1 million XRP tokens.
It bears mentioning that the bridge functionality went live on March 12, but access was limited. However, The Crypto Basic reported that the number of XRP holders on Coreum spiked 2,287% to 191 on March 22, with the total number of bridged XRP tokens sitting at 57,191, two days after the public launch of the bridge on March 20.
Coreum Now Home to 1.6M+ XRP Since then, network participants have continued to leverage the bridge, with the Sologenic team confirming in a recent post that the amount of XRP tokens on Coreum has crossed the 1,600,000 million mark.
Over 1,600,000+ $XRP are living on the @cosmos ecosystem using the XRPL Coreum Bridge.
The latest data from Coreum’s official blockchain explorer indicates that the Coreum ecosystem is now home to exactly 1,603,209 XRP tokens. This figure represents an impressive 2,703% increase in XRP tokens domiciled on the network since March 22.
XRP Tokens on Coreum | Coreum Explorer Notably, these 1.6 million XRP tokens are held by 464 addresses on Coreum, with the total number of holders representing a 142% increase from the figure recorded during the previous report. Interestingly, nearly 1.2 million of the 1.6 million XRP is in liquidity pools on Coreum-based DEX Pulsara.
And close to 1.2 million of that $XRP is in Liquidity Pools in #PulsaraDAX, generating rewards! #SARA #DAX https://t.co/CrRrH6E4dP
— Pulsara (@pulsara_io) April 9, 2024
An Imminent Supply Shock? The recent disclosure has sparked reactions from the XRP community, as the movement of XRP tokens to Coreum could help take off more tokens from the market. For context, when a user bridges XRP to Coreum, the actual XRPL-based XRP tokens are locked in the bridge contract.
The bridge then mints an equivalent of the XRP tokens on Coreum. Despite receiving the equivalent of XRP on Coreum, market participants would not be holding their XRPL-based XRP. This phenomenon keeps the XRPL-based XRP locked in the bridge contract, keeping them from the market and reducing supply.
Media personality Zach Rector called attention to this in a response to Coreum’s disclosure. He stressed that his previous projection of an imminent XRP supply shock could materialize. According to him, this would occur with more bridges and increased XRP burns as adoption leads to a rise in on-chain activity.
Wow! Y’all that I was playing when I said there would be an #XRP Supply Shock!
This is just the start of bridges, DeFi and XRP being locked up! Also, as activity picks up, more XRP is being BURNED! 🔥 https://t.co/hr3wQf0qjS
— Zach Rector (@ZachRector7) April 9, 2024
Interestingly, several XRP community figures, including Ghostpunch Games’ Chad Steingraber, previously expressed similar sentiments regarding a looming supply shock for XRP.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
The Phoenix Group has revealed the leading cryptocurrency performers for November 16, 2024, with Sologenic ($SOLO) leading the pack with an impressive 200.5% price increase. The report highlights significant market movements and showcases a diverse range of tokens across major exchanges.
Sologenic Soars 200% as Clover, Altura, and Altcoins Shine Sologenic ($SOLO) dominated the daily gainer chart, soaring by 200.5% to a current price of $0.30 and a market capitalization of $132.1 million. This explosive growth was primarily driven by increased trading volumes on Binance, suggesting heightened investor interest and a potential catalyst for further gains.
Clover Finance ($CLV) recorded the second-highest gain of the day with an 85.3% price increase, pushing its current value to $0.072 and a market cap of $71.6 million. Altura ($ALU) came in third, surging by 54.3% to a price of $0.051 and a market cap of $50.4 million. Both tokens saw significant trading activity on centralized exchanges, indicating strong market sentiment.
According to the Phoenix group, Other notable gainers include Usual ($USUAL), which climbed by 51.7% to reach a price of $0.51 with a market cap of $253.2 million, and OM ($OM) from the Mantra network, which rose by 41.9% to $2.29. The Flare Network’s $FLR token also posted a notable gain of 34.7%, driven by growing adoption and network activity.
DeAI, Algorand Lead as XRP, Hedera Rally and Exchanges Boost Volumes DeAI ($DEAI), a token associated with Zero1 Labs, advanced by 31.4%, while Algorand ($ALGO) gained 31.1% to a price of $0.70, backed by positive ecosystem developments and partnerships. Both tokens demonstrated strong resilience in a volatile market, capturing investor attention.
XRP ($XRP) and Hedera ($HBAR) rounded out the top gainers, posting increases of 26.7% and 26.0%, respectively. XRP’s rally to $1.02 and Hedera’s rise to $0.086 were underpinned by positive sentiment surrounding their institutional adoption and use case expansions. With a market cap of $58.2 billion, XRP remains one of the most influential assets in the crypto space.
All of the top-performing tokens are listed on leading exchanges such as Binance, OKX, and Gate.io, underscoring the importance of liquidity and accessibility in driving price movements. The high trading activity on these platforms reflects strong retail and institutional participation.
The gains across these cryptocurrencies signal growing confidence in the broader crypto market despite recent market challenges. The diverse range of projects gaining traction highlights the continued innovation and adoption across blockchain ecosystems.
Investors and market participants will be watching these assets closely as they attempt to sustain their upward momentum in the coming days. However, as with all markets, caution is advised, given cryptocurrencies’ inherent volatility.
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Kester is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Mushumir is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushumir enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for BlockchainReporter.
An asset tokenization altcoin is surging after announcing a new partnership with a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC).
Earlier this week, asset tokenization platform Sologenic (SOLO) announced a partnership with Texture Capital, a US-based broker-dealer that specializes in blockchain technology and digital assets.
[adinserter block="1"]
News of the collaboration served as a catalyst for the platform’s native asset, SOLO, to skyrocket from a price of $0.29 on November 21st to a price of $0.83. It has since stabilized and is trading for $0.77 at time of writing, an increase of over 110% during the last 24 hours.
Together, Sologenic and Texture Capital will roll out SoloTex, a trading platform approved by FINRA (The Financial Industry Regulatory Authority) that lets blue-chip investors tokenize securities. However, no specific date was provided for its launch.
“Solotex is currently under development. Upon regulatory approval and launch, the platform aims to transform global markets by offering access to tokenized assets…
Together, both teams are leveraging a collective expertise in blockchain development, regulatory compliance, and financial markets infrastructure to build a comprehensive platform that will aim to facilitate access to tokenized financial assets.”
Sologenic launched in 2019 as a decentralized exchange (DEX) platform built on the XRP Ledger that allowed investors to tokenize and trade stocks. It went on to incorporate crypto assets and non-fungible tokens (NFTs).
The XRP Ledger (XRPL) ecosystem is surging, with its top cryptocurrencies leading the market’s gainers at last check early Sunday morning.
Over the past seven days, XRP has climbed 11.8%, while Sologenic (SOLO) and Coreum (COREUM) soared 21.6% and 21.4%, respectively.
The rally highlights growing momentum for XRPL-based assets, outpacing Polkadot (DOT) and Kusama (KSM), which are up 3.4% and 2.9%.
XRP’s seven-day trajectory: CoinGecko Built for fast, low-cost cross-border payments and asset tokenization, XRPL is a decentralized blockchain with a built-in decentralized exchange (DEX), trust lines for asset issuance, and sidechains for expanded functionality. Its ecosystem is expanding, with non-fungible token (NFT) support, smart contract integration (Hooks), and DeFi applications gaining traction.
Ripple, a key contributor to XRPL, has been driving institutional adoption, while the XRPL Foundation and developer community continue to enhance the network’s capabilities. The recent surge in XRPL-related tokens suggests growing confidence in its ecosystem as tokenization, payments, and DeFi innovation accelerate.
Why? For starters, the U.S. Securities and Exchange Commission (SEC) recently acknowledged Grayscale’s 19b-4 filing for an XRP exchange-traded fund, or ETF.
Analysts now project a surge in institutional investment if and when it’s approved.
Polymarket bettors like the odds. According to the website, where crypto holders can gamble on real-world events, there’s an 81% chance of approval this year, according to Cointelegraph.
JPMorgan analysts also reported that a spot XRP ETF could bring in up to $8 billion in institutional money. Should the XRP ETF get the green light, it’ll rank alongside Bitcoin and Ethereum — already spot ETF-approved — as a top cryptocurrency attracting institutional investors.
Grayscale plans to transform XRP Trust into a tradable ETF, once approved the conversion would increase liquidity and accessibility for investors all around the world.
The SEC’s acknowledgment is one step in the approval process. The fact that Ripple CEO Brad Garlinghouse is hobnobbing with politicos in Washington, D.C. this past week has certainly helped boost the chances as well.
Walked away from an action-packed day in DC yesterday with the feeling that there is (finally) an incredible opportunity to advance meaningful bipartisan legislation that establishes clear, constructive and pro-innovation regulatory frameworks for crypto.
Thank you to these… pic.twitter.com/LF6V536udg
— Brad Garlinghouse (@bgarlinghouse) February 13, 2025 Currently, XRP’s price is trading at $2.78, with a 24-hour trading volume of $3.5 billion. As for the other top cryptocurrencies, here’s a look at their seven-day trajectories:
Renowned trader D.I.Y. Investing says the XRP Ledger is on the brink of a major breakthrough, urging traders to get involved early while prices remain low.
In a tweet, he emphasized the urgency for traders to load up on XRP in their wallets and begin trading altcoins on the XRPL as soon as possible. He stressed that the network is on the verge of a significant breakthrough.
According to the trader, there are life-changing opportunities still trading at “pennies on the dollar” on the XRPL. Consequently, he warned traders not to overlook the potential of this ecosystem.
XRP Ledger: Home to the Next Altcoin Boom? The XRP Ledger is a decentralized, open-source blockchain known for its fast settlement times, low fees, and built-in DEX functionality. Although it has existed since 2012, its altcoin ecosystem is only now attracting growing attention due to the recent introduction of additional features.
A few months ago, Ripple CTO David Schwartz voiced support for the rising meme coin trend on the XRPL after accepting a gift of 15 DROP tokens from the team behind the DROP meme coin. Sharing his wallet address, Schwartz said he “likes this trend,” signaling a positive stance toward community-driven tokens.
The trend gained momentum following the launch of Memepad on Magnetic X DEX, a platform enabling users to create and launch meme tokens. According to The Crypto Basic, over 70 new meme coins emerged shortly after the debut.
Now, D.I.Y. Investing’s remarks suggest that the next wave of gains may not come from mainstream chains but from underexplored ecosystems like XRPL, where valuations are still modest and trading activity is just beginning to heat up.
What Will the Next Boom Look Like? The XRP coin leads the XRPL ecosystem with a market cap of over $182 billion. At press time, XRP is trading at a seven-day decline of 11.3%, priced at $3.08.
According to D.I.Y. Investing, most market participants have no idea how massive the incoming XRP breakout could be. He suggested that the recent 70% surge in XRP might pale in comparison to what’s coming next, calling this the moment long-term holders have been waiting for.
In particular, he is forecasting prices as high as $30, a massive increase of 874%. For context, this would push XRP’s market cap from $180 billion to over $1.177 trillion.
Most people have no idea how big this $XRP breakout is about to be 📈
If you’ve been stacking since $0.15 — this is the moment we’ve waited years for.
The path to $30 XRP is real… and I’ve never been more serious. #XRP #XRPL pic.twitter.com/FFDnNjbaba
— D.I.Y Investing (@vajolleratzii) July 24, 2025
Other XRPL Tokens Another leading token in the XRPL ecosystem is Sologenic (SOLO), which ranks just below XRP with $177 million cap. It is currently trading at $0.444, a 12% discount from last week’s price.
Despite the dip, SOLO retains an impressive 30-day gain of 80%, highlighting its strong performance during the recent global crypto bull run.
Other XRPL ecosystem tokens trading at significant discounts from their weekly highs include Phoenix (PHNIX), PONGO, XRPayNet, and Lucretius (LUC). These tokens have market caps ranging from $237,000 to $33 million.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Renowned crypto payment platform Ripple Labs Inc has signed a partnership deal with Evmos, an Ethereum Virtual Machine (EVM) chain built with the Cosmos SDK. Per the deal, the duo plans to build an EVM sidechain for XRP Ledger (XRPL).
XRPL Joins Interchain According to Cosmos, the sidechain will be built with evmOS, a modular and customizable tech stack designed by Evmos. This alliance to build a sidechain with Evmos is already in Devnet and would involve core developer Peersyst Technology. Aside from Cosmos SDK, Evmos also utilizes Inter-Blockchain Communication Protocol (IBC), and CometBFT. These advanced protocols are all geared toward bringing EVM compatibility to Web3.0 businesses.
Markedly, evmOS bring access to over 60 Cosmos SDK chains via the IBC. This upcoming XRP Ledger EVM sidechain is very compatible with industry standards. Additionally, it is joining the Interchain, known to be one of the most versatile in the Web3.0 ecosystem.
This tech stack has other features and modules that are focused on facilitating the implementation of the EVM for Cosmos SDK. Amongst its compatible features are IBC functionality, EVM extensions, access to the dApp Store, and complete customizability. Pulled together, all these presents evmOS as more than just lines of code but rather a ready-to-launch solution designed to cater to everyone.
“The evmOS stack prioritizes native, cross-chain applications and is built with the Cosmos SDK, running on the CometBFT consensus engine,” Cosmos wrote in a blog post. “The modular nature of evmOS will offer XRPL developers unseen flexibility in expanding the XRPL EVM sidechain on their terms.”
XRP Ledger Pushes For Community Satisfaction For XRP Ledger, this marks a significant move towards bringing its community members, Decentralized Applications (dApps), and liquidity to a network of more than 90 interconnected chains. Noteworthy, the interchain now pride itself as a vibrant and dynamic network that fosters synergy among diverse blockchain projects.
Similarly, bringing XRP Ledger to the interchain makes it possible for XRPL community members to gains a passport to all Cosmos SDK chains. Ultimately, this provides users with freedom to interact with any application of their choice.
This EVM push comes only a few months after XRPL welcomes Xahau Ledger, a smart contract sidechain. Like evmOS, the Xahau Ledger also came with some features that allow building things with everyday life utility.
The XRPL ecosystem is keen on improving its platform to cater to its users and compete in the growing DeFi world.
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Ripple chief legal officer Stuart Alderoty says the recent filing by the US Securities and Exchange Commission (SEC) in its case against Ripple Labs does not appeal the ruling that XRP is not a security.
Alderoty’s comments follow an Oct. 16 Form C filing by the SEC with a pre-judgement statement against certain aspects of the court’s summary judgment.
Alderoty Says Court Decision Regarding XRP’s Security Status “Stands As The Law Of The Land” Ripple defense attorney James Filan shared the filing on Oct. 17. In their appeal, the SEC asks the court to review its decisions related to Ripple’s XRP sales through exchange platforms. It also requests the court to review the ruling on the personal sales executed by Ripple executives Brad Garlinghouse and Chris Larsen.
The SEC went on to argue that Larsen and Galinghouse violated securities laws by offering and selling XRP. It also said that they both “aided and abetted Ripple’s violations of those provisions.”
Alderoty responded to the SEC’s request by saying that the court’s decision regarding XRP’s security status “stands as the law of the land.” He added that the fintech firm intends to file its own Form C next week.
No surprises here — once again it’s been made clear. The Court’s ruling that “XRP is not a security” is NOT being appealed. That decision stands as the law of the land.
Stay tuned for Ripple’s Form C to be filed next week. https://t.co/m9molUGSBv
— Stuart Alderoty (@s_alderoty) October 18, 2024
SEC Ripple Case Expected To Continue Through July 2025 According to a timeline shared by Fox Business producer Eleanor Terret on X, the Ripple SEC case could carry on well into July next year. After Ripple files its own Form C next week, both the regulator and Ripple Labs will need to “agree on a briefing schedule.”
🚨NEW: Just had a great chat with @s_alderoty of @Ripple who gave me a rundown of the appeals timeline.
📌The @SECGov’s last day to file Form C (which will give some level of detail about what it plans to appeal) is tomorrow.
📌Seven days later, Ripple will file its own Form…
— Eleanor Terrett (@EleanorTerrett) October 15, 2024
Thereafter, the SEC will have up to 90 days to file its first brief according to Terrett, who cited Alderoty. She added that Alderoty believes the regulator will take advantage of this period, and try to only make its filing at the end of the 90 days. Thereafter, the full briefing process “will go through July 2025,” according to the Ripple legal chief.
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Panelists at global fintech company Finder have relayed a series of projections on the Cardano native token ADA. Despite the cryptocurrency’s slow growth recently, various crypto experts have predicted the price of ADA to surge to record highs soon.
Cardano Expected To Rise Above $3 by 2030 A recent survey of panelists at Finders has revealed the future outlook for the price of ADA. According to the report, Cardano is expected to witness a significant surge between the average of $5.37 and $3.15 by the end of the decade.
Supporting the cryptocurrency’s potential price growth, the Chief Operating Officer (COO) of Layer One X, Matiu Rudolph has predicted that the price of ADA could increase to $3.50 or higher by 2025. He has also predicted that the cryptocurrency could witness a rise to new all-time highs of $10 by 2030.
The COO has based his predictions on Cardano’s burgeoning ecosystem and robust community of supporters. He disclosed that the cryptocurrency’s loyal community was one of its greatest assets, fostering global adoption and boosting the value of the cryptocurrency.
Also speaking about Cardano’s future price outlook, the founder of Omnia Markets, Mitseh Shah has projected the price of ADA to surge to $2.75 by 2025. The fintech founder has given reasons for his price prediction, stating if the crypto market enters a bull run, Cardano could see its price rising to new highs.
“If next year’s Bitcoin halving leads to a bullish crypto market Cardano could well be taken along for the ride,” Nick Ranga, senior cryptocurrency and forex analyst at ForexTraders stated.
In a similar light, another panelist, Ruadhan O, creator of Seasonal Tokens has remained bullish on Cardano, expecting the cryptocurrency to surge to $2 by 2030. The crypto investor has disclosed that Cardano is likely to witness significant gains from Ethereum’s market share during the next crypto bull run.
Overall, predictions regarding Cardano’s price outlook seem to depend on the market’s performance and the possibility of a bull run. At the time of writing the cryptocurrency is trading at $0.65, reflecting an increase of 3.63% over the past week, according to CoinMarketCap.
ADA To Witness Major Price Drop Despite the optimistic forecast from a considerable number of Finder’s panelists regarding Cardano’s price, others have expressed opposite views, highlighting Cardano’s underperformance and inability to keep up with market expectations.
Josh Fraser, co-founder of Origin Protocol, Cardano and Joseph Raczynski, a futurist have predicted that the price of Cardano could plummet to zero by 2030 and 2025 respectively. Numerous other panelists who share similar pessimistic sentiments have revealed that Cardano’s lack of decentralized applications and failure to achieve global adoption was one of the key factors behind its foreseeable limited price growth.
ADA price at $0.65 | Source: ADAUSDT on Tradingview.com Featured image from CoinStats, chart from Tradingview.com
Ripple’s RLUSD stablecoin is now available in the Cardano ecosystem through an integration by the cross-chain bridge Wanchain. This development comes amid the Cardano ecosystem’s plans to integrate more stablecoins on the network, while Ripple is also eyeing expansion of its stablecoin beyond the XRP Ledger (XRPL) and Ethereum.
Ripple’s RLUSD Now Available On The Cardano Network In an X post, Wanchain revealed that its cross-chain bridge now supports the RLUSD stablecoin. With the integration, users will be able to bridge the stablecoin directly from the XRPL network to the Cardano network. Furthermore, they can bridge the stablecoin from Ethereum to Cardano.
Additionally, users can bridge Ripple’s RLUSD stablecoin on XRPL or Ethereum to Wanchain and then route it from the bridge to the Cardano network. The bridge also enables bridging from the XRPL to the top Layer-1 network, Ethereum.
It is worth noting that RLUSD is currently issued natively only on the XRPL and Ethereum networks. However, Ripple announced plans last year to expand the stablecoin to Ethereum layer-2 networks, including Base, Optimism, Unichain, and Ink. The firm also noted that testing on these chains will begin in partnership with Wormhole.
RLUSD currently ranks as the 8th largest stablecoin, with a market cap of $1.5 billion. Most of the stablecoin’s supply currently sits on the Ethereum network, while 382 million tokens are in circulation on the XRP Ledger.
Boost For Cardano’s Ecosystem Ripple’s RLUSD becomes the second tier-1 stablecoin available to Cardano users, following USDC’s launch on the network earlier this year. It is worth noting that Cardano’s stablecoin market cap has climbed to $50 million following the launch of USDC.
The network’s DeFi TVL had also climbed when USDC launched on the network and could rise again, with network users now able to access RLUSD through the cross-chain bridge. Interestingly, Cardano’s founder, Charles Hoskinson, has long teased plans to integrate RLUSD natively into the network, though that has yet to happen.
Meanwhile, amid RLUSD gaining access to the Cardano ecosystem, Cardano stakeholder Input Output has put nine proposals forward in a bid to scale the network. Notably, none of them focuses on stablecoin integrations, with the highlight being the Leios upgrade, which developers aim to use to scale the network to 27 million monthly transactions by 2030.
Ripple’s US dollar-pegged stablecoin, RLUSD, can now move seamlessly across new networks following its integration with Wanchain’s bridge infrastructure. Users are now able to transfer RLUSD between the XRP Ledger, Ethereum, Cardano, and Wanchain networks, greatly improving cross-chain mobility. This marks a pivotal shift for Ripple, taking its stablecoin beyond the confines of its native platforms.
RLUSD gains momentum with Wanchain’s cross-chain bridgeAccording to an official statement from Wanchain, RLUSD is now transferable across multiple major blockchains via their bridge protocol. While RLUSD is minted natively on the XRP Ledger, the new integration enables its movement to Cardano, Ethereum, and Wanchain networks. Similarly, the Ethereum-based RLUSD can now traverse to Cardano and Wanchain using this infrastructure.
Currently, RLUSD is issued directly only on the XRP Ledger and Ethereum. However, the recent bridge integration lets users shift liquidity between blockchains without relying on centralized intermediaries. As stablecoins continue to gain traction in payments, trading, and decentralized finance (DeFi), such cross-chain compatibility becomes increasingly vital for users.
With this new support, RLUSD holders can move their assets from the XRP Ledger to Cardano through Wanchain’s infrastructure. RLUSD minted on Ethereum can also be integrated into the Cardano ecosystem via the same bridge. In addition, RLUSD available on the Wanchain network can now flow in both directions with Cardano.
Rising appeal of cross-chain bridgesWanchain has been focusing on interoperability and bridge solutions between blockchains for some time. The inclusion of RLUSD in its system brings Ripple’s stablecoin to a broader audience. Notably, Cardano has recently taken significant steps to expand access to dollar-backed assets within its ecosystem.
This bridge infrastructure also allows direct transfers between RLUSD on the XRP Ledger and Ethereum. For users managing liquidity across multiple blockchains, this reduces the hassle of executing additional swaps when navigating between various DeFi platforms and blockchain applications.
Ripple’s multi-chain stablecoin ambitionsThe integration supports Ripple’s multi-chain rollout strategy for RLUSD. Ripple previously disclosed plans to expand RLUSD over time to additional Ethereum-compatible layer-2 networks such as Base, Optimism, Unichain, and Ink. These deployments are currently being tested through a collaboration with Wormhole.
RLUSD has also made its way into the exchange landscape. Since early April, it has been tradeable on Coinone, allowing South Korean investors direct access to the stablecoin with Korean won. This move signaled Ripple’s entry into regulated stablecoin markets in Asia.
Beyond transfers, RLUSD has found new use cases in various applications. On the Bitrue exchange, it can now be used as collateral in futures markets, offering users a stable asset for leveraged trading and wider participation in derivative products.
Mastercard, meanwhile, is exploring options with RLUSD as part of its initiative to implement stablecoins into blockchain-based payment systems. While no formal launch has occurred yet, this reflects interest from major corporate players in utilizing Ripple’s stablecoin for institutional partnerships, beyond traditional token transfers.
Currently, RLUSD has achieved a market capitalization of roughly $1.5 billion, making it the eighth largest stablecoin in existence. While most tokens circulate on Ethereum, there are 382 million RLUSD in supply on the XRP Ledger. The Wanchain bridge integration has considerably broadened RLUSD’s access across multiple blockchains.
In its statement, Wanchain highlighted that by adding RLUSD to its bridges, it enables users to easily transition between important blockchains, aiming to increase RLUSD’s footprint within more diverse ecosystems.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
TLDR: RLUSD now moves across XRPL, Ethereum, and Cardano using Wanchain bridge infrastructure European banks plan a euro stablecoin using Ripple tech, expanding institutional blockchain use Ripple upgraded custody services with compliance tools and staking for institutional clients RLUSD adoption grows through pilots in payments, settlements, and multi-chain DeFi access Ripple’s RLUSD stablecoin continues to expand its reach as new infrastructure and institutional developments reshape its role in digital finance.
Recent updates show progress in cross-chain access, banking collaborations, and custody services, positioning RLUSD within evolving global payment networks.
Cross-chain expansion strengthens RLUSD accessibility RLUSD’s latest development centers on its integration with Wanchain’s bridge infrastructure. This upgrade allows
transfers between the XRP Ledger, Ethereum, Cardano, and Wanchain. As a result, users can move RLUSD without relying on centralized exchanges.
A recent tweet from CoinDesk reported that Wanchain added support for Ripple’s RLUSD stablecoin. The post noted that the bridge enables transfers across major blockchain networks. This update confirms RLUSD’s growing presence in multi-chain environments.
The bridge supports two-way transfers, which improves liquidity movement between networks. Users can send RLUSD from the XRP Ledger to Cardano or from Ethereum to Cardano. They can also reverse these transactions with minimal friction.
This setup reduces dependency on wrapped assets and intermediaries. Instead, RLUSD operates across ecosystems in a more direct manner. As liquidity moves freely, trading and decentralized finance activity may become more efficient.
Wanchain acts as a central hub connecting these blockchains. Through this role, it simplifies how assets move between networks. Therefore, RLUSD becomes easier to access for users operating on different chains.
The stablecoin currently holds a market capitalization of about $1.5 billion. Around 382 million tokens circulate on the XRP Ledger. Meanwhile, a larger share remains active on Ethereum, supporting its broader use.
Institutional adoption and infrastructure upgrades progress Beyond technical integration, RLUSD is gaining traction among financial institutions. European banks are preparing to launch a euro-backed stablecoin using Ripple’s technology. ING, UniCredit, and BNP Paribas plan to release it in late 2026.
This initiative focuses on regulated digital payments within the eurozone. It also introduces competition to dollar-based stablecoins. Ripple’s infrastructure will support settlement and transaction processing for the project.
At the same time, Ripple has upgraded its custody platform. The update includes real-time compliance monitoring and cloud-based security systems. These features aim to meet institutional requirements for digital asset management.
The platform also introduces staking capabilities. This addition provides institutions with more flexibility when managing digital assets. As a result, RLUSD becomes easier to integrate into treasury operations.
Institutional use cases are already being tested in real-world scenarios. RLUSD is part of pilot programs for real-time settlements with partners like Kyobo Life Insurance. It is also being explored for credit card settlement processes with Mastercard.
These developments align with Ripple’s broader multichain strategy. RLUSD is also undergoing testing on Ethereum Layer-2 networks such as Base, Optimism, and Ink. These efforts expand its potential use across scaling solutions.
As RLUSD moves across networks and gains institutional support, its role in payments and finance continues to evolve. Its presence across multiple chains and systems reflects ongoing efforts to increase utility and access.
Wanchain has integrated Ripple stablecoin, RLUSD, into its cross-chain bridge, expanding connectivity beyond the XRP Ledger (XRPL) and Ethereum.
Specifically, Wanchain now enables RLUSD to move seamlessly across additional networks, including Cardano. This upgrade strengthens the stablecoin’s utility and positions it as a more versatile asset within the multi-chain landscape.
Key Points Wanchain integrates RLUSD into its cross-chain bridge, expanding its reach beyond XRPL and Ethereum. The integration allows RLUSD to move across XRPL, Cardano, Ethereum, Wanchain, and several other routes. Ripple is currently making moves to expand RLUSD access to more networks, with mainnet deployment on Ethereum L2 networks like Optimism expected this year. RLUSD currently holds a $1.6 billion market cap, with trading volume surging over 91% in 24 hours to $80.45 million. Wanchain Expands RLUSD Availability Beyond XRPL and Ethereum In a tweet, Wanchain announced adding RLUSD to its bridge infrastructure, enabling smooth two-way transfers across multiple blockchains.
Consequently, users can now move RLUSD between the XRP Ledger and Cardano, XRPL and Wanchain, Ethereum and Cardano, Ethereum and Wanchain, Wanchain and Cardano, as well as XRPL and Ethereum. This expanded routing significantly enhances the token’s cross-chain accessibility.
Moreover, the integration highlights ongoing efforts toward a multi-chain financial system. Instead of operating in the Ethereum and XRPL ecosystems alone, RLUSD now circulates across interconnected platforms, improving liquidity flow and user flexibility.
Ripple Plans RLUSD Debut on Multiple Blockchains Meanwhile, the move aligns with Ripple’s strategy to extend RLUSD’s reach beyond its native ecosystems. That vision gained traction in December when Ripple partnered with Wormhole, leveraging its NTT token standard to expand the stablecoin to Ethereum Layer-2 networks, including Optimism and Base.
While testing remains ongoing, Ripple plans a full mainnet rollout once it secures the necessary regulatory approvals. Now, with Wanchain’s integration, RLUSD’s accessibility has widened further to include Cardano and Wanchain’s own network.
RLUSD Volume Spikes 91% Since its launch in December 2024, RLUSD has rapidly gained traction in the crypto market. It has secured listings on major exchanges, including Binance, Bitget, Kraken, HashKey, and Coinone.
Currently, RLUSD has a market cap of $1.6 billion, ranking it as the 44th-largest token globally and the eighth-largest stablecoin. In addition, its trading activity has surged, with volume jumping over 91% in the past 24 hours to reach $80.45 million—an indication of rising demand and market engagement.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
There is a growing narrative among XRP enthusiasts that a major unwinding in the Japanese yen carry trade could trigger a global liquidity crisis. In this scenario, these enthusiasts have positioned XRP as the solution to stabilizing disrupted financial flows, starting in Japan and rippling worldwide.
Spike in Japan’s 20-year government bondAn XRP community member highlighted that Japan’s 20-year government bond yield hit 2.751%, increasing by 0.035%.
Higher yields signal investor demand for safer, higher-return Japanese debt amid BoJ tightening. This pulls money back to Japan, accelerating the unwinding, that is, traders selling foreign assets to cover yen loans. Past unwinds caused global volatility, which analysts have warned could happen soon.
The yen carry trade is a popular investment strategy that has fueled global markets for decades. Notably, Japan’s low interest rates make borrowing yen inexpensive.
Traders convert yen to higher-yielding currencies such as USD and invest in assets like U.S. stocks, bonds or emerging market debt. In the end, they pocket the interest rate differential as profit.
It provides cheap liquidity to risk assets, boosting everything from Wall Street to crypto. However, sudden yen strength erodes profits and triggers forced sales.
Analysts note that a liquidity crisis is looming as the carry trade is about to collapse. The trade is reversing due to shifting monetary policies, creating a vicious cycle.
To combat inflation and yen weakness, the BoJ has normalized rates since 2024. This makes borrowing yen more expensive, squeezing profits.
Also, the U.S. Federal Reserve easing cycle narrows the yield gap, making the trade less attractive.
Can XRP stop Japan’s liquidity crunch?An unwind is not just a Japanese problem but a global liquidity crunch. Trillions in yen-funded investments flood back, selling off U.S. and global assets. This could depress bond prices, spike U.S. yields and trigger stock sell-offs.
However, XRP enters as a proposed fix for the resulting chaos, leveraging Ripple's tech for instant, low-cost global transfers.
In a crisis, banks need quick access to fiat without prefunding accounts. XRP acts as on-demand liquidity, settling cross-border payments in seconds.
Moreover, Ripple has a strategic partnership with Japan’s SBI Holdings, integrating XRP into local payments. Therefore, if yen liquidity dries up, Japanese institutions could use XRP to source USD instantly, bypassing carry trade fallout.
Critics, however, argued that this is hype, noting that XRP’s role depends on adoption.
American model Bri Teresi recently discussed the idea that XRP could play a role in Japan’s reverse yen carry trade, a multitrillion-dollar unwind now moving through global markets.
In a recent post on X, Teresi said she believes XRP matches the type of fast and programmable system that the financial infrastructure of today needs.
Teresi Spotlights XRP’s Strengths She called attention to guidance from the Bank for International Settlements (BIS), which says an effective settlement asset should turn over 8 to 10 times a day so banks avoid holding slow-moving currency.
I believe XRP will be used as a bridge asset in the reverse Yen carry trade. Right now, the BIS says an efficient settlement asset should turn over 8–10 times per day to prevent banks from sitting on huge piles of stagnant currencies. But in a new financial system that’s faster,…
— Bri Teresi (@briteresi) November 27, 2025
Teresi argued that newer systems focus on speed, and she sees XRP meeting that requirement, with SBI Remit in Japan already using it for faster cross-border settlements.
According to the model, XRP’s design allows it to move far faster than the BIS benchmark. After watching an analysis from crypto educator Lewis Jackson, she raised an important question: if trillions begin crossing borders as this reverse carry trade unwinds, what kind of transaction speed will regulators expect from a bridge asset like XRP?
What is The Reverse Carry Trade? For context, Jackson highlighted the entire situation in a recent podcast episode. During his commentary, he discussed how a carry trade works, using a simple example.
Specifically, a person could borrow $100,000 in a country offering 0% interest, convert the funds into their own currency, and invest it at a 5% return. After one year, that investor would still owe exactly $100,000, but the investment would produce $105,000, leaving $5,000 in profit.
Jackson explained that Japan enabled this type of strategy for more than twenty years because the Bank of Japan cut interest rates to 0% in 1999, held that level for years, and even pushed rates negative in 2016, which effectively paid people to borrow.
He noted that this environment created what the market calls the yen carry trade. Ministry of Finance data places the size of this trade between $4.2 trillion and $4.5 trillion, with major global banks and financial institutions taking part. The Bank for International Settlements documented this activity as well.
However, everything changed on March 19, 2024, when the Bank of Japan ended its negative-rate era and raised its benchmark rate to 0.1%. Jackson said the small move created major concern because investors feared more hikes could follow.
Notably, higher rates would erase the profit potential of carry trades, so many traders started to unwind their positions. This led to the reverse carry trade. He estimated that roughly 40% of the trade had already reversed, leaving 60% still active. This remaining portion could strain the system if it unwinds too quickly.
XRP Could Have a Role to Play Jackson then explained why some people in the crypto community believe XRP could help. For context, reversing a carry trade at this scale requires fast and reliable currency conversion, and traditional rails often move slowly and cost a lot.
According to him, XRP offers a quicker, cheaper, and more secure way to move value across borders. He then highlighted Japan’s long relationship with XRP. Specifically, SBI Remit uses XRP for payment routes between Japan and the Philippines and between Japan and Indonesia. Also, Japanese institutions maintain long-running partnerships with Ripple, which gives the theory more weight.
Jackson noted that he had studied BIS documents, Japanese regulatory material, and SBI Remit’s integrations, and confirmed that the major details behind the reverse carry trade storyline all come from established sources.
He then called attention to discussions over how XRP’s price might react if these flows ran through the asset, with some predicting price surges to thousands. While Jackson does not support any specific prediction, he said Japan’s policy shift, the scale of the unwind, and XRP’s presence in the country create a setup that deserves serious attention.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Discussion around a possible Ripple IPO in 2026 and potential impact on the XRP price has picked up after Investing Visuals ranked major private companies by estimated valuation.
Specifically, the presentation places SpaceX at the top with a projected value of $1.5 trillion. OpenAI follows at $830 billion, while ByteDance stands at $480 billion. Anthropic comes in at $230 billion, Databricks at $160 billion, and Stripe at $120 billion.
Projected Ripple IPO at $50B Meanwhile, Revolut holds an estimated valuation of $90 billion, with Shein at $55 billion. Notably, Ripple comes in next at $50 billion, matching Canva at the same level. Together, these companies account for a combined valuation of roughly $3.6 trillion.
Potential Largest IPOs | Investing Visuals If Ripple goes public at a $50 billion valuation, it will likely rank as the ninth-largest IPO of 2026. This figure also exceeds Ripple’s most recent private valuation. For context, in Q4 2025, Ripple completed a $500 million funding round that valued the company at about $40 billion. A move to $50 billion would represent a 25% increase.
Importantly, an IPO of that size would raise questions about XRP’s price outlook. While Ripple operates as a company and XRP exists as a separate digital asset, the markets have often linked the two.
Specifically, when Ripple expands partnerships, gains regulatory clarity, or attracts institutional attention, XRP sentiment typically picks up. To understand how a $50 billion IPO could affect XRP, we asked Google Gemini for an assessment.
XRP Price if Ripple IPOs at $50B Google Gemini called 2026 a year when Ripple’s corporate growth and XRP’s market performance could become more connected, especially for institutional investors. With the assumption that Ripple lists publicly at a $50 billion valuation, Gemini presented a hypothetical price range for XRP.
According to Gemini, a public listing would represent Ripple’s move from a long-standing private company to a major public one.
While XRP does not represent ownership in Ripple, the token benefits from activity within Ripple’s ecosystem. Increased visibility from an IPO could bolster confidence in Ripple’s technology and, by extension, support demand for XRP.
XRP Price Prediction if Ripple IPOs at $50B | Google Gemini In this scenario, Gemini suggested a bullish XRP price range between $8 and $15. One major factor behind this prediction is institutional sentiment. At present, XRP trades largely on retail demand and its role in cross-border payments.
A successful IPO could send a message to traditional finance that Ripple’s business model has matured. Gemini pointed out that some institutional analysts, including Standard Chartered, have already mentioned $8 as a possible XRP target for 2026, assuming steady ETF inflows and lower regulatory risk.
Ripple Executives Downplay the Urgency of an IPO Despite these projections, Ripple executives have consistently downplayed the urgency of an IPO. CEO Brad Garlinghouse said in a July 2024 Fortune interview that going public represents only one step in Ripple’s journey, not a final goal.
In March 2025, Garlinghouse told Bloomberg that an IPO was not a major priority, noting that Ripple continued to grow without needing public capital. Moreover, he also mentioned to Bloomberg that Ripple currently focuses on acquiring firms, not pursuing a public offering.
Ripple President Monica Long has suggested the same. In an April 2025 CNBC interview, she confirmed that Ripple had no plans to go public in 2025, pointing to billions of dollars in cash reserves. Later, at the Swell conference in New York in November 2025, she told Bloomberg that Ripple had no IPO plan and no timeline.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Crypto markets inch up slowly; Litecoin and Tezos on a charge, BSV falling further back. Market Wrap As we end another week in crypto land markets are starting to pick up a little. There has been no major breakout for Bitcoin yet but some of the altcoins are doing well and green is back in the tables. As a result total market capitalization is back over $250 billion again.
Yet again Bitcoin pushed just above $7,900 for an intraday high before pulling back. It subsequently dropped below $7,500 again hitting support for a double bottom. At the time of writing BTC is back to $7,900 trading flat on the day.
Ethereum has done virtually nothing over the past 24 hours and is still lulling just below $250. ETH is very unlikely to move until its big brother does, and it will definitely be in the same direction.
There is a little more activity in the top ten during today’s Asian trading action. Green dominates over red and Litecoin is the clear leader with a push of 10 percent to $113. Less than 60 days to the halving is driving momentum for LTC which is likely to climb higher in the coming weeks. Market cap has now surpassed $7 billion and it is very close to flipping BCH for fourth. XRP is the other mover today as it gains 5 percent as rumors of a MoneyGram buyout circulate. BSV continues to get dumped.
The top twenty cryptos have seen a lot of movement from Tezos which has surged 14 percent to $1.36. There does not appear to be a lot fundamentally feeding the fomo aside from rumors that Coinbase Custody is loading up on XTZ. The rest in this section are a percent or two in either direction today.
FOMO: Metaverse ETP Pumps ETP is getting another spike today as it rises 16 percent following a recent Finwise event in Hong Kong. Aside from Tezos, HyperCash is also doing well gaining 13 percent on the day and Decentraland is up 11 percent.
Getting dumped at the messy end of the crypto top one hundred is Maximine Coin sliding 18 percent. Yesterday’s pump, SOLVE, is today’s dump as it drops 14 percent and the crypto stalwart MaidSafeCoin is losing out on the day sliding 11 percent.
Total market cap 24 hours. Coinmarketcap.com Total crypto market capitalization has picked up marginally, adding $3 billion to reach $253 billion. Volume is at $70 billion and the minor move not been enough to signal a wider break out yet. All eyes are still on Bitcoin which has dropped back in dominance slightly at the expense of Litecoin.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
Crypto markets falling back on Monday; BSV, XRP, and Tron dropping back, Litecoin and NEO stay afloat. Market Wrap Crypto markets are seeing red as we begin another trading week. Most of the majors are in decline following Bitcoin’s failure to hold gains and break $8,000. Total market capitalization has dropped below $250 billion and is poised to fall further as the selloff accelerates.
Bitcoin has dumped 2.5 percent on the day falling from just under $8k down to support at $7,500. BTC recovered a little during early Asian trading but is still down on the day trading at around $7,700. A big bearish signal was given by the weekly candle which was biggest drop since December at almost 11 percent.
As expected Ethereum is faring no better with a slide of over 3 percent down to $235. There is strong support around the $210 area and it could soon be there if analysts are correct.
The rest of the top ten is in the red as crypto declines increase. Bitcoin SV has dropped the most at over 6 percent falling back to $183. XRP is not far behind with over 4 percent lost as the Ripple token falls below $0.40 again. Bitcoin Cash, Binance Coin and Stellar are not doing much better. Litecoin has remained steady as halving fomo continues to drive LTC higher.
Top twenty losses are marginally greater with Tron dumping the most at over 5 percent. IOTA, Cosmos and Ethereum Classic are all losing around 3 percent and NEO is the only altcoin in the green adding 2 percent to remain over $12.
FOMO: Nebulas Skyrockets A massive dose of fomo has hit NAS today as it shoots up 45 percent. The autonomous smart asset platform does not appear to have anything fundamentally driving it aside from yesterday’s Nebulas Council Election Assistance Campaign launch;
Also getting a pump today is GXChain which has surged 36 percent and NULS up almost 20 percent. At the messy end of the crypto top one hundred is HyperCash dumping 13 percent while Ravencoin gets hit 9 percent on the day.
Total market cap 24 hours. Coinmarketcap.com Total crypto market capitalization has declined $5 billion since this time yesterday. It is now at $247 billion with a daily volume of $62 billion. Over the week markets are down 8.5 percent as over $20 billion has left the space. With Bitcoin poised to fall further the pain is likely to continue this week.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
