Track market-moving stories before they get noisy

TLDR XRP futures remain broadly bullish even as XRP slips 1.55% to $1.38. Binance whale accounts show an Extremely Bullish 2.74 long/short ratio. OKX records the strongest bullish alignment, including Smart Money and whale positions. Smart Money stays Extremely Bearish on Binance and Bybit, creating a split in sentiment. Long positions made up about 96% of XRP’s $7.91 million in 24-hour liquidations. XRP futures traders are showing strong bullish positioning even as XRP faces short-term price pressure. XRP ended the previous session 1.55% lower at $1.38, while derivatives data showed many traders still favoring long positions.

CoinGlass data from Binance, OKX, and Bybit shows bullish readings across several trader groups. However, rising long liquidations and bearish Smart Money signals on some exchanges create a mixed market setup.

Binance Whales Keep Bullish XRP Futures Bias On Binance, whale accounts recorded a long/short ratio of 2.74, placing them in the Extremely Bullish category. Retail traders also favored longs with a 2.47 ratio, while whale positions posted a 1.96 reading. Smart Money took the opposite side on Binance. The group showed an Extremely Bearish reading, creating a clear split between experienced traders and other market participants holding bullish positions.

OKX showed broader bullish positioning across most groups. Retail traders posted a 2.55 long/short ratio, while the whale position ratio surged to 30.86, placing both groups in the Extremely Bullish category. Smart Money on OKX also remained Extremely Bullish. Whale accounts took a less aggressive stance, with a 1.13 long/short ratio that placed the group in the Neutral category.

Bybit Data Shows Mixed Trader Positioning Bybit also recorded strong long positioning among retail traders and whale accounts. Both groups posted a 3.39 long/short ratio, placing them in the Extremely Bullish category.

However, the whale position ratio stood at 0.98, showing a Neutral reading. Smart Money remained Extremely Bearish, matching the same cautious stance seen on Binance.

Despite bullish positioning, XRP futures traders faced heavy liquidation pressure during the latest decline. Total liquidations reached $7.91 million over 24 hours, with long positions accounting for $7.62 million, or about 96%. The 12-hour data showed an even stronger imbalance. Long liquidations reached $4.95 million out of $4.97 million in total forced closures, equal to roughly 99% of the total.

Trading volume also gave short sellers a small lead. Short volume reached $1.92 billion, or 52.78% of activity, while long volume stood at $1.72 billion, or 47.22%. The contrast suggests traders are still willing to hold bullish exposure despite the weaker spot price. At the same time, liquidation data shows that leveraged buyers remain vulnerable if selling pressure continues across major derivatives exchanges during the next sessions.

TLDR XRP ETFs attracted $12.29 million, extending their positive inflow trend. Bitwise led XRP fund inflows with $9.30 million, while Grayscale added $2.98 million. XRP ETFs recorded about $185 million in net inflows over 30 days. Bitcoin ETFs posted $120.24 million in outflows for a second straight session. ARKB recorded the largest Bitcoin ETF withdrawal at $77.98 million. XRP ETFs extended their run of positive flows on Wednesday as investors added $12.29 million to US-listed products. The inflows came while Bitcoin ETFs recorded a second straight day of withdrawals, showing a clear split across major crypto funds. XRP traded near $1.40 as total XRP ETF net assets ended the session at $1.51 billion. The contrast kept investor attention on capital flows across listed asset products during Wednesday trading.

XRP ETFs Extend Positive Inflow Streak Bitwise led XRP ETF inflows with $9.30 million, while Grayscale’s GXRP added $2.98 million. Total trading value reached $23.58 million during the session. Over the past 30 days, XRP ETFs have attracted about $185 million in net inflows.

The products have also shown steady demand during wider market weakness. The first US spot XRP ETF started trading on Nasdaq in November 2025 and drew $243 million on its first day. By mid-December, XRP ETFs had recorded 30 straight days of inflows, a streak Ripple CEO Brad Garlinghouse noted on X.

US spot Bitcoin ETFs posted $120.24 million in net outflows on Wednesday. Ark and 21Shares’ ARKB led losses with $77.98 million leaving the fund. Grayscale’s GBTC lost $27.22 million, while BlackRock’s IBIT saw $19.53 million in withdrawals.

Morgan Stanley’s MSBT was the only Bitcoin fund to finish positive, adding $4.49 million. Bitcoin ETFs generated $2.05 billion in trading value and closed with $99.33 billion in net assets. Bitcoin remained near a key level watched by institutional investors.

Ether and Solana Funds Attract Capital Spot Ether ETFs recorded $34.75 million in net inflows. BlackRock’s ETHB led with $22.94 million, while ETHA added $9.71 million. The 21Shares TETH fund received another $2.10 million. No fund posted an outflow.

Ether ETF trading activity reached $852.09 million, while net assets finished at $15.69 billion. Solana ETFs also gained $11.73 million. Bitwise’s BSOL accounted for $11.18 million, and Morgan Stanley’s MSOL added about $558,150.

HYPE ETFs ended the session with $5.29 million in net outflows. All withdrawals came from Bitwise’s BHYP fund, making the product the only major crypto ETF group in the data to post a clear daily loss.

Trading activity for HYPE ETFs reached $31.08 million, while net assets closed at $464.29 million. The latest fund data showed XRP, Ether, and Solana ETFs attracting fresh capital as Bitcoin and HYPE products faced redemptions.

XRP has reached a significant milestone in Canada after the country’s top financial regulator approved a legal infrastructure connecting United States capital markets with XRP-based financial products. This move allows Canadian investors and institutions to access XRP exchange-traded fund (ETF) options, which offer derivative exposure to the cryptocurrency within a regulated environment and include set expiration dates for trading positions.

Regulatory clearance and key platformsThe approval enables major Canadian banks to participate in the XRP asset class by using regulated investment vehicles. According to official documentation from the Canadian Derivatives Clearing Corporation (CDCC), two prominent XRP-based ETFs—the XRP Evolve ETF and the XRP Purpose ETF—have been cleared for trading in the United States.

The CDCC, which facilitates the clearing and settlement of derivatives in Canada, reported in its latest 8-K Form filing that these XRP-linked products have already begun trading on the Montreal Exchange since the start of 2026.

With this regulatory development, XRP joins other major digital assets on Canadian markets that already enjoy options-based ETF trading statuses, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

AssetApproved ETF Options (Canada)Trading VenueBitcoin (BTC)YesMontreal ExchangeEthereum (ETH)YesMontreal ExchangeSolana (SOL)YesMontreal ExchangeXRPYesMontreal ExchangeMini dictionary: Canadian Derivatives Clearing Corporation (CDCC) — CDCC is the central clearing counterparty for exchange-traded derivative products in Canada, providing clearing and settlement services to enhance market transparency and reduce counterparty risk.

Major Canadian banks expand XRP exposureThe timing of the approval coincides with two major Canadian banks, National Bank of Canada and Bank of Montreal, giving visibility to their initial investments in XRP-linked products. National Bank of Canada disclosed a $330,000 holding in the Bitwise ETF. Meanwhile, Bank of Montreal reported ownership of over 350 XRP-related shares in its 13F-HR form filings.

These movements signal increasing institutional recognition of XRP within Canada’s regulated financial landscape.

During this wave of regulatory advancements, leading Canadian banks such as National Bank of Canada and Bank of Montreal have started reporting notable XRP ETF holdings, reflecting a growing institutional presence in the asset.

Security, access, and investor protectionCanadian banks are not required to purchase Ripple’s XRP token directly through spot markets. Instead, they gain exposure to XRP’s price movement and ecosystem using regulated U.S. investment products. This approach allows institutions and retail investors to participate indirectly in the cryptocurrency market with additional regulatory oversight and safeguards.

Utilizing wrapper products such as ETFs provides an additional layer of protection for traditional stock market participants, aligning with best practices for risk mitigation.

For investors who prefer using standard brokerage accounts, XRP ETF options eliminate the need for cryptocurrency self-custody or managing seed phrases. These options are settled on-balance upon expiration, which offers more convenience for those unfamiliar with managing digital wallets.

Ripple has conducted a burn of 15 million Ripple USD (RLUSD) tokens, with the transaction confirmed on the Ethereum blockchain on Thursday. The value of the burned tokens is estimated at $15 million, as the total was moved from the RLUSD Treasury to the Ethereum null address.

Recent RLUSD minting and burning activity intensifiesBlockchain data has highlighted a series of significant minting and redemption transactions involving RLUSD in the past week. On September 8, observers recorded a burn of 10 million RLUSD, shortly followed by a mint of approximately 14.39 million RLUSD.

One day earlier, on September 7, 18 million RLUSD was minted on Ethereum. Additional activity included the minting of 20 million RLUSD on September 4 and 16 million RLUSD the day before.

RLUSD’s issuance and burning reflect institutional demand, with tokens being destroyed when customers redeem their holdings. Such activity is a regular occurrence among asset-backed stablecoins and does not typically indicate negative sentiment toward the product.

RLUSD market capitalization sees rapid growthDespite the burn activity, RLUSD’s circulating supply remains robust within the stablecoin market. On September 10, CoinGecko reported RLUSD with a market capitalization of about $2.42 billion. For context, this represents a significant increase from the approximately $1.76 billion reported on August 18.

If this expansion continues, RLUSD could soon overtake other major stablecoins such as PayPal USD (PYUSD) in terms of total market capitalization.

DateRLUSD MintedRLUSD BurnedSeptember 316 million–September 420 million–September 718 million–September 8~14.39 million10 millionSeptember 10–15 millionRipple’s strategic expansion and institutional partnershipsRLUSD has attracted attention for its growing number of institutional use cases. In August, Ripple supported the development of an institutional credit fund in partnership with Clearpool and Cicada Partners. This initiative is designed to function on the XRP Ledger.

Ripple, a US-based fintech company, operates RLUSD as a stablecoin pegged to the US dollar and issues the asset on various blockchains to facilitate digital finance, payments, and lending for institutional clients.

The company aims to position RLUSD not only as a payment infrastructure but also for tokenization, lending, and collateral management across institutional markets.

RLUSD burn and mint activity reflects institutional demand, as tokens are issued and redeemed based on client needs, with destroyed tokens representing redemptions rather than negative market sentiment.

Mini dictionary: Clearpool and Cicada Partners, institutional finance projects focused on blockchain-based credit and lending solutions, work alongside Ripple to expand RLUSD’s integration into digital asset markets.

A recent SEC filing has revealed that a digital asset treasury company plans to acquire a diverse portfolio of cryptocurrencies, including XRP, Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The company also listed ISO-20022-compliant cryptocurrencies such as Stellar (XLM), Cardano (ADA), Hedera (HBAR), Algorand (ALGO), Quant (QNT), and IOTA. Additionally, meme tokens like Dogecoin (DOGE), Shiba Inu (SHIB), BONE, and Terra Classic (LUNC) are included in its acquisition targets.

Regulatory compliance and asset selectionThe company stated it will only purchase cryptocurrencies that it determines are not securities. This assessment will be made through a facts-and-circumstances analysis, drawing from relevant law and regulatory guidance, including the Howey Test, which is used in the US to determine if certain transactions qualify as investment contracts under securities law.

The filing refers to the SEC and Commodity Futures Trading Commission (CFTC) joint release dated March 17, 2026, which clarified that XRP is now classified as a commodity under US federal law.

To maintain compliance, the treasury company plans to seek regular guidance from external legal counsel, enforce internal compliance procedures, and track new regulatory developments. Whenever there is a significant regulatory announcement or court decision that may influence the status of a crypto asset, the company will reassess that asset’s classification.

The firm indicated it will use a buy-and-hold investment approach rather than engaging in short-term trades. Periodic portfolio rebalancing is part of its strategy to manage digital asset holdings over time.

Institutional acquisition and cost analysisThe company’s acquisition plan emphasizes the advantages of purchasing digital assets through institutional exchange accounts instead of using retail platforms. According to the filing, all acquisitions will be executed via institutional-grade exchange accounts, rather than retail exchanges.

A direct comparison in October 2025 demonstrated that buying $5,000 of XRP through a Coinbase Prime institutional account cost approximately ten times less than acquiring the same amount through a Coinbase retail account. The company stated that lower commission fees and more favorable bid/ask spreads on institutional accounts accounted for this significant cost difference.

Account typePurchase amountRelative costCoinbase Prime (institutional)$5,000 in XRP1x (lowest)Coinbase Retail$5,000 in XRP10x (highest)Mini dictionary: Coinbase Prime, an institutional-grade platform provided by Coinbase, offers lower trading fees, enhanced security features, and access to deep liquidity pools for institutional clients compared to standard Coinbase retail accounts.

The filing details how institutional accounts gave the treasury company a major advantage in acquisition costs, citing a test where buying $5,000 of XRP through Coinbase Prime was about 10 times cheaper than using a retail account, thanks to tighter bid/ask spreads and reduced commission rates.

Custody and storageFor the safekeeping of its digital assets, the treasury company will rely on insured institutional custody solutions. Only assets intended for immediate transactions will be kept in hot wallets. For self-custodied assets, the company will use cold storage accessed through a ledger device and a secure passcode.

Crypto analyst Xaif brought wider attention to the filing, sparking discussion among retail XRP holders about institutional investment patterns and their possible impact on the cryptocurrency market.

The total crypto market cap fell to $2.71 trillion, down 3.0% over the past 24 hours. Bitcoin is holding relatively steady at $77,285.98, also down 3.0%, but altcoins are bearing the brunt of today’s selloff. Ethereum dropped to $2,438.53, XRP fell to $1.36, and Solana slipped to exactly $100.00, all posting losses in the 3-5% range. Zcash, HYPE and DOGE posted losses more than 7% each.

Hot Inflation Data Triggers the Selloff

The catalyst came from Washington. US Producer Price Index data came in at 5.4%, above the 5.3% forecast and the highest reading in two months. The hotter-than-expected inflation print rattled markets broadly, not just crypto, gold and silver lost a combined $490 billion in market value within an hour of the data release.

A Global Rate Story Adding Pressure

The PPI shock wasn’t the only central bank news moving markets today. The European Central Bank raised interest rates by 25 basis points to 2.65%, its highest level in 18 months, adding to a broader tightening narrative weighing on risk assets worldwide.

Oil Prices Erase the Peace Dividend

Oil surged above $99 a barrel for the first time in 15 weeks, according to Bull Theory, completely wiping out the price declines that followed the recent US-Iran peace agreement. President Trump added to the pressure, saying the US isn’t seeking a new deal with Iran and that oil prices won’t meaningfully fall until “right after” the midterm elections, even as he predicted prices would eventually tumble. Brent crude extended its gains above $101 a barrel following those comments.

Treasury Secretary Sends a Warning Shot

Treasury Secretary Scott Bessent added to the day’s dramatic tone, reportedly saying “I am the house now” and warning markets not to bet against the Treasury’s moves, a comment The Kobeissi Letter framed as a signal that the department is fully committed to its current strategy of managing bond markets and liquidity.

What It Means

With inflation running hotter than expected, a fresh ECB rate hike, oil climbing back above $100, and the Treasury signaling an aggressive stance on bond markets, today’s selloff reflects a convergence of macro pressures rather than a crypto-specific event. Bitcoin’s relative resilience compared to Ethereum, XRP and smaller altcoins suggests capital may be consolidating into the most established asset as investors digest a turbulent macro backdrop heading into the following days.

Story Ends Here

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A regulatory filing from Charles Schwab has placed spot $XRP exchange-traded funds in an unfamiliar but telling institutional role, as collateral inside money market financing arrangements rather than as direct investments.

What the Filing Shows The disclosure covers approximately $4.8 million in XRP ETF shares spread across three issuers: Canary Capital, Grayscale, and Franklin Templeton. The largest single position belongs to Canary Capital at roughly $3.06 million, with the combined Grayscale and Franklin Templeton positions valued at around $1.71 million.

Crucially, the filing does not mean Schwab went out and bought XRP ETFs.

A Broader Shift in Institutional Adoption The Schwab filing is one data point in a wider pattern of traditional financial institutions integrating $XRP products into standard market infrastructure.

Major Wall Street names have also been building positions directly.

The appearance of XRP ETF shares inside collateral baskets for short-term institutional lending marks a quiet but meaningful step. It suggests these products are now liquid and recognized enough to serve functions within traditional market plumbing, not just as a route for investors seeking crypto exposure.

Sources:
Bitcoin.com News: Four XRP ETFs Now Sit in a Schwab Money Fund's Repo Collateral
36Crypto: New Charles Schwab SEC Filing Shows Over $11 Million XRP ETF Exposure
The Crypto Basic: SEC Filing Confirms Charles Schwab Holds $1 Million in XRP ETF

Live updates: Bitcoin ETFs post a second straight outflow while other major funds turns green

Ripple (XRP) has dropped to its lowest price in a week ahead of the release of the US CPI data on September 11. Data from CoinGlass also shows an influx in the number of traders who are opening short positions, as they bet that the price could move lower.

XRP price trades at $1.38 today, September 10, after dropping by 4% in 24 hours. The drop mirrors the downtrend across the broader crypto market, with all of the top ten largest cryptos by market cap edging lower.

XRP Shorts Positions Surge as Markets Price In US CPI, Rate Hikes Data from CoinGlass shows that XRP’s funding rate has dropped to -0.0094%. This is the lowest funding rate reading since June 28.

This funding rate reading shows that bears are dominating the market as short sellers pay long traders to keep their futures positions open.

XRP Funding Rate (Source: CoinGlass) The long/short reading for XRP has also dropped to 0.0089, suggesting that there are also more short-selling accounts than long buying accounts.

This bearish positioning on XRP price comes ahead of the release of the US CPI data on September 11, with analysts expecting that core inflation will increase 0.22% month-over-month.

Wall Street is also betting on an increase in the headline CPI to 0.39% month-over-month because of the Middle East conflict. However, they also expect the core CPI to ease to 2.4% year-over-year.

As CoinGape reported earlier, Fed Governor Chris Waller expects the August inflation data to guide the Fed’s decision on whether to hike or trim interest rates.

Data from CoinGape prediction markets shows that 71% of investors are betting that the Fed will increase interest rates in 2026.

Source: CoinGape Prediction Markets The European Central Bank (ECB) is also expected to hike rates by 25 basis points at its policy meeting today, September 10.

Ripple ETFs Extend Inflows Despite Price Weakness Data from SoSoValue shows that there were $12.29 million in inflows to XRP ETFs on September 9. This marked the highest inflows to these ETFs since September 1.

XRP also had the second-highest inflows after Ethereum (ETH), which reported $34.75 million in inflows. Unlike XRP and ETH, Bitcoin (BTC) recorded outflows of $120.24 million.

XRP ETF Flows (Source: SoSoValue) The inflows into Ripple ETFs suggest that institutional investors are shrugging off the short-term price weakness caused by inflation pressure and rate hikes.

Still, the spot market shows a different picture after the XRP Volume Z-Score on Binance dropped to -0.09, per data from CryptoQuant.

Analyst Arab Chain notes that this drop in the Z-score suggests that XRP price could be consolidating as the market awaits a new catalyst.

“If the indicator remains near zero or slips into negative territory, it could signal subdued activity and weakening short-term price momentum,” The analyst said.

Still, a previous CoinGape XRP price analysis noted that whale activity around XRP is rising and matching the demand that is coming from institutions.

XRP Price Slips Below Crucial Support as Bears Target $1.33 XRP price is testing the support at $1.38. Ripple had already dropped below this support at the time of writing after an increase in the selling pressure.

If XRP closes below this support, it could move to the September 2 low of $1.33.

The CMF reading of -0.09 on the four-hour chart suggests that the selling pressure is outpacing the buying pressure.

XRP/USDT 4H Chart (Source: TradingView) The RSI reading of 40 also shows that the momentum is favoring bears and the price could edge lower.

However, if buying pressure returns as inflation pressures ease, XRP price could move to the resistance zone between $1.46 and $1.47.

Important Ripple News and XRP Price Update: September 10

Ripple’s former Chief Technology Officer David Schwartz believes XRP will eventually overtake Bitcoin as the world’s largest cryptocurrency.

He argued that this scenario would result from XRP growing faster than Bitcoin, not from BTC collapsing. Schwartz made the comments during an X Space, where he was asked whether XRP could flip Bitcoin and whether that would happen because Bitcoin loses value or XRP appreciates more rapidly.

“Yeah, I do,” Schwartz said. However, he clarified that the scenario would not involve Bitcoin shrinking.

“I think it would happen from XRP growing faster than Bitcoin,” Schwartz explained.

Schwartz Sees XRP Capturing More Growth Schwartz suggested that a future in which XRP overtakes Bitcoin would involve the digital-asset market expanding substantially. He argued that most cryptocurrencies would grow in such an environment, while the XRP Ledger would capture a larger share because of its functionality and speed.

“The world where digital assets are just wildly successful. They all probably grow,” Schwartz said, adding that the XRP Ledger would benefit from features that Bitcoin does not support.

His comments therefore point to an XRP-led expansion in market capitalization rather than a Bitcoin collapse as the more likely path to a flip.

Angie asked "David in your humble opinion, do you believe XRP could actually flip Bitcoin?" pic.twitter.com/InhjVrM6Gv

— Vet (@Vet_X0) September 9, 2026

XRP Price When It Overtakes Bitcoin At current levels, Bitcoin trades at around $78,200, with a market capitalization of about $1.56 trillion. Meanwhile, XRP trades at around $1.38, with a market capitalization of approximately $86.76 billion.

That leaves Bitcoin with a market capitalization roughly 18 times larger than XRP’s. If Bitcoin’s market capitalization soared to around $3 trillion, XRP would need to reach a similar valuation to overtake it.

Based on XRP’s current circulating supply of 62.74 billion tokens, a $3.1 trillion XRP market capitalization would put it at approximately $49.30 per XRP. That would represent a 3,470% increase from the current $1.38 level.

For comparison, Bitcoin’s current $1.56 trillion valuation would also need to double to reach $3 trillion. Moreover, Bitcoin’s previous all-time market-cap level was around $2.5 trillion, making the journey to $3 trillion relatively close by comparison. In particular, Bitcoin’s price would need to reach only about $150,000 to support a market capitalization above $3 trillion.

Meanwhile, for XRP, the journey from $1.38 to $50 would be far more formidable and take years. Essentially, even as XRP soars and enters the trillion-dollar valuation range, Bitcoin would still be miles ahead, and closing the gap would remain a significant challenge.

In Sum Schwartz did not provide a price target or timeline for XRP overtaking Bitcoin. His argument was that XRP’s faster growth would allow it to surpass Bitcoin as the XRP Ledger captures a larger share of overall crypto-market growth.

Importantly, Schwartz’s comments reflect his view of what could happen under a particular future market scenario rather than confirming that XRP will flip Bitcoin.

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 Today: Bitcoin, Ethereum and XRP lose bullish momentum as structural support holds

Dogecoin sinks 5% to lead majors losses, with bitcoin holding $78,000 level

XRP Ledger (XRPL) developers have announced a plan to achieve full quantum resistance for the network by 2028, placing XRP Ledger ahead of several major blockchain rivals pursuing the same milestone. The move was confirmed by Vet, a contributor at the XRPL Foundation and validator on the decentralized Unique Node List (dUNL). Vet outlined that significant advancements are expected by 2027, including the initial deployment of new security protocols through a hybrid system.

XRPL’s technological strategy and key featuresThis newly revealed timeline positions XRPL as a front-runner in the race to secure blockchains against the potential threat of quantum computing, with its projected transition set for one year before Ethereum‘s scheduled 2029 upgrade.

Developers have highlighted three critical architectural innovations underpinning the XRPL quantum security transition. First, the native key rotation feature will enable cryptographic keys to be updated without changing users’ existing r-addresses. This secure and seamless transition is expected to minimize confusion and operational risks for asset custodians. In contrast, most competing blockchains require users to manually transfer assets to new wallets when adopting post-quantum standards.

Second, XRPL and RippleX developers have established a “Quantum-Day” emergency response protocol. In the event of rapid advances in quantum computing threatening current cryptographic schemes, this protocol allows vulnerable accounts to be instantly isolated and secured without interrupting the overall functioning of the ledger.

Third, the network has already begun actively testing quantum-resistant cryptographic algorithms. Developers intend to roll out new security measures gradually, using a hybrid deployment that runs alongside existing protocols. This approach aims to ensure robust protection while maintaining the stability of the network during the transition phase.

Mini dictionary: Unique Node List (dUNL): A decentralized list of trusted validators used in XRP Ledger to ensure agreement on the true state of the network and maintain consensus securely.

Significant enhancements in quantum-resistant security are anticipated by 2027, which will see the launch of a hybrid deployment model operating alongside the network’s existing security structure. This aims to allow a smoother transition and scalability for users and custodians alike.

Competition with Algorand, and comprehensive XRPL auditThe race for quantum resistance has brought renewed focus on comparisons between XRPL and Algorand. Algorand recently announced the development of quantum-secured accounts utilizing Falcon-1024 signatures, a cryptographic scheme resistant to attacks by quantum computers. However, Vet cautioned the community against overestimating this achievement, pointing out that Algorand still primarily depends on the Ed25519 standard for most routine operations. Full integration of quantum-resistant technologies, including the consensus protocol, is not scheduled for completion until 2027.

Mini dictionary: Falcon-1024: A post-quantum digital signature algorithm designed to remain secure against quantum computer attacks.

NetworkQuantum Protection StartFull Quantum Protection TargetCurrent Key StandardXRP Ledger2027 (Hybrid Phase)2028Native key rotationEthereum–2029To be upgradedAlgorandIn progress2027Falcon-1024 (partial), Ed25519Meanwhile, the scope of Ripple’s Project Eleven includes a thorough security audit of XRP Ledger, covering components from validator nodes to the underlying network infrastructure. The audit is part of a broader initiative to validate and update every layer of security before the mainnet’s transition to quantum resistance.

Ripple’s rollout plan features a staged approach, beginning with comprehensive testing. A hybrid deployment of legacy and post-quantum signatures is planned for 2027, leading to a full upgrade in 2028 for the mainnet environment.

As part of its industry-leading strategy, XRP Ledger’s transition roadmap incorporates hybrid cryptographic solutions, system-wide audits, and responsive emergency protocols designed to protect user assets in the face of rapidly evolving quantum technology threats.

The recent relief bounce from XRP may not have ended the current pullback, as its Elliott Wave structure calls for one more dip.

Notably, the Elliott Wave theory on the 1-hour chart shows that the latest bounce has not yet formed the structure needed to confirm a lasting bottom. This suggests there is room for another drop into the support zone before XRP can begin a recovery.

XRP’s August Rally The current structure started with XRP’s recovery from $0.99 in early August 2026. The price rose from around $0.99 on Aug. 11 to $1.70 by Aug. 22. This move gave the token a 28.5% gain for August, marking its strongest monthly performance for the month since 2021.

The hourly chart shows several features of an impulsive Elliott Wave move. Specifically, price climbed quickly and moved in a defined direction, which often indicates Wave 1 in a larger bullish sequence. 

If this holds, XRP could have more room to surge after completing its current correction. XRP has also shown a pattern of sudden rallies followed by longer periods of consolidation, and the current structure follows a similar path.

After reaching $1.70, XRP started dropping through overlapping price action instead of following a clear, impulsive decline. This pattern suggests that the market is trying to stabilize, not necessarily entering a fresh major downtrend.

The chart places the main support zone between $1.10 and $1.38. Importantly, four important Fibonacci retracement levels sit within this area at $1.38, $1.29, $1.21, and $1.10. At press time, XRP trades around $1.39, which puts it near the upper edge of this demand zone.

XRP Elliott Wave Structure Why Three Waves Is Not Enough XRP has started bouncing from its recent low, and the move may initially look like confirmation that the correction has ended. 

However, the current upward push contains only three waves. Elliott Wave theory generally requires a five-wave upward structure to confirm that a correction has ended and that buyers have regained control.

For now, the move fits better as a B wave within a larger A-B-C correction. Under this view, Wave A took XRP from the $1.70 high down into the support zone, while the current bounce represents Wave B. 

This leaves room for a potential Wave C decline before a sustained recovery begins. However, it is important to note that Wave B could still climb higher before sellers return. 

The chart places resistance between $1.44 and $1.60, with Fibonacci levels at $1.44, $1.49, $1.53, and $1.60. If sellers take control in that area, Wave C would become stronger, with $1.21 and potentially $1.10 coming up as downside targets.

What Macro Catalysts Could Influence the Picture Meanwhile, the Elliott Wave structure is only one part of the setup. Notably, other market and regulatory developments could also affect XRP’s next move. 

For one, US spot XRP ETFs recorded $18.96 million in fresh inflows over the past week, taking cumulative ETF inflows to $1.68 billion. The continued inflows show that institutional demand remains active around current price levels.

XRP also trades above its 20-day, 50-day, 100-day, and 200-day exponential moving averages. This has helped push the short-term trend from bearish to bullish and confirms that the broader bullish structure remains intact, even if XRP experiences another short-term decline.

For now, XRP’s $1.10 level remains the key floor for the bullish case. A move toward $1.21 or $1.10 would fit the potential Wave C scenario. Until XRP forms a complete five-wave rise, the current bounce may still be a temporary recovery.

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.

Evernorth Holdings is moving closer to becoming the first publicly traded company built around a strategy of increasing the value of its XRP treasury.

According to popular Web3 event organizer Wave of Innovation, Evernorth is expected to hold at least 473 million XRP when it begins trading on Nasdaq under the ticker XRPN.

The milestone now hinges on a key shareholder vote scheduled for September 30, 2026. Shareholders will vote on Evernorth’s proposed merger with Armada Acquisition Corp. II, a transaction that would pave the way for the XRP-focused treasury company to become publicly traded.

Evernorth recently moved another step closer to completing the deal after the U.S. SEC cleared its registration statement. However, shareholder approval and other closing conditions remain outstanding. If approved, the merger is expected to close in late Q3 or early Q4, followed by Evernorth’s Nasdaq debut.

Evernorth’s XRP Holdings Evernorth initially accumulated 388 million XRP, with CryptoQuant reporting the holdings. A significant portion of those tokens came through transfers from contributors including Ripple and its chairman, Chris Larsen.

The company later expanded its position to 473 million XRP, using part of the $1 billion it raised from prominent investors, including Ripple, Pantera, GSR, Arrington Capital, and SBI Group.

Rather than simply hold XRP as a passive corporate asset, Evernorth plans to actively manage its treasury. Specifically, the company aims to generate income from its XRP holdings, support projects across the XRP ecosystem, and use financial markets to expand its treasury.

Moreover, the firm wants to increase the amount of XRP held per share over time. This strategy could give shareholders greater exposure to XRP while also aligning the company’s growth with the broader XRP ecosystem.

Potential Boost for XRP Ledger DeFi Evernorth’s XRP treasury could also have implications beyond its corporate balance sheet. Proponents argued that the company’s substantial XRP holdings could become an important source of liquidity for DeFi activity on the XRP Ledger (XRPL).

Meanwhile, Evernorth plans to support infrastructure for tokenized assets, on-chain lending, and blockchain payments. Consequently, its large XRP position could provide additional liquidity as the XRPL ecosystem develops new financial applications, including lending products.

If the merger receives shareholder approval, Evernorth would give public-market investors a regulated vehicle for gaining exposure to an XRP-focused treasury strategy. With at least 473 million XRP expected at the time of its Nasdaq debut, the company could establish a significant corporate presence within the XRP ecosystem. 

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

Ripple veteran David Schwartz has entertained one of the XRP community’s most ambitious scenarios: XRP eventually overtaking Bitcoin by market capitalization.

During a recent appearance on X's "Spaces," Schwartz argued that an XRP “flippening” is possible, but he attached an important caveat to the prediction.

Such a scenario, according to the longtime XRP Ledger architect and Ripple CTO emeritus, would be more likely to happen because XRP surges than because Bitcoin collapses.

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XRP could potentially capture a disproportionate share of that growth because of characteristics such as transaction speed and greater functionality compared to Bitcoin.

The XRP Ledger was designed from the outset as a faster and more scalable alternative to Bitcoin for payments. 

It's all about perspective Earlier this year, Schwartz recalled that even a rally to $0.25 seemed implausible to him when XRP was trading at roughly $0.006. 

Schwartz said that he sold some XRP around $0.10 because the valuation already seemed extraordinarily high at the time.

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He made a similar comparison with Bitcoin, recalling that $100 BTC once seemed almost absurd. 

At the same time, Schwartz stressed that such comparisons have an important weakness: XRP's market capitalization today is vastly larger than Bitcoin's was when BTC first crossed $100.

XRP once got surprisingly close to BitcoinThere is historical precedent for XRP dramatically narrowing Bitcoin's lead.

During the extraordinary cryptocurrency rally of late 2017 and early 2018, XRP surged into second place and became Bitcoin's closest major challenger.

XRP has notably overtaken Ethereum before. The most memorable flip occurred in late December 2017. 

Back then, XRP's capitalization had jumped to roughly $86 billion, putting it comfortably ahead of Ethereum at $73 billion and making XRP the world's second-largest cryptocurrency. XRP remained ahead at the end of the year. 

At a price of $1.42, XRP currently has a market capitalization of approximately $89.1 billion, making it the fifth-largest cryptocurrency.

Bitcoin, meanwhile, is changing hands at roughly $78,693 with a market capitalization of approximately $1.58 trillion.

That means Bitcoin is currently worth about 17.7 times more than XRP by market capitalization.

Crypto market analyst JD (@jaydee_757) has highlighted a repeating pattern in the XRP/BTC trading pair, suggesting that XRP has consistently followed cycles of rapid price surges followed by extended declines. JD presented a monthly chart covering price movements from 2013 to 2029, showing how XRP’s price relative to Bitcoin has evolved over the years on the Binance exchange.

The cycle of sharp pumps and deep correctionsAccording to the chart shared by JD, XRP/BTC experienced significant upward moves in 2014, 2017, and 2018. After each rapid climb, the pair underwent steep corrections, with the 2018 peak reaching a range between 0.00017500 BTC and 0.00018000 BTC. Following that peak, XRP/BTC continued to fall until 2020, briefly rebounded, and then declined again into 2022 and 2024.

The downturn in 2024 was interrupted by a surge exceeding 500%, which placed XRP near the upper boundary of a long-standing falling wedge pattern. This technical structure, defined by a series of lower highs and a stable base, has emerged over more than a decade, according to JD’s analysis.

The pattern shows sharp upswings that attract buyers, but each time, strong corrections follow. JD argues this cycle has disadvantaged many investors while benefiting a select few.

Throughout these periods, the same cycle has persisted: after compressing within the wedge, XRP/BTC surges, then resets with a steep correction. The recurring nature of these movements has led JD to describe XRP as exhibiting a classic pump-and-dump profile on its long-term chart.

XRP/BTC at a critical levelCurrently, the XRP/BTC pair trades around 0.00001816 BTC, positioning it close to the upper boundary of the wedge. This level remains well below its all-time high but represents a possible inflection point should a breakout occur. JD maintains that XRP/BTC is now displaying signals consistent with the early phase of a major breakout, which could be followed by a considerable price rally.

He speculates that if the trading pair can decisively break above this technical resistance, the move may lead to a rapid climb to what he describes as “moonboy levels,” or highly elevated valuations, before an eventual reversal.

Mini dictionary: Falling wedge — This is a technical chart pattern where the price forms a series of lower highs and a relatively stable or slightly declining base, typically indicating a reduction in downward momentum that may lead to an upward breakout if confirmed by trading volume and price action.

Analyst anticipates historic drop after surgeDespite the potential for a substantial rally, JD’s projection suggests caution. His chart includes a label for an anticipated “historical crash,” with a predicted decline of up to 95% that could extend into 2029. JD emphasizes that while some investors might profit significantly during these rallies, the broad majority may end up worse off if they fail to exit before any major correction unfolds.

JD asserts that during each cycle, most participants are left “poorer while some become millionaires,” warning that the next explosive move may be followed by a pronounced collapse in value.

This cyclical pattern, as presented in JD’s analysis, points to considerable risk for those holding XRP for extended periods, especially if they do not capitalize on price peaks. The analysis suggests the need for vigilance when trading volatile assets exposed to pronounced historical boom and bust cycles.

YearXRP/BTC HighCorrection FollowsPattern Formation2014Sharp pumpYesStart of wedge2017Sharp pumpYesWedge tightens20180.00017500-0.00018000 BTCYesWedge peak2024500% surgeTBDTesting upper wedge

Ripple’s stablecoin has grown 1,278% this year while XRP shed more than a quarter of its value. The network is busier than ever, but the token capturing that activity has a dollar sign and a peg.

Summary

RLUSD market cap hit $2.32 billion with cumulative volume surpassing $9 billion, a 1,278% increase year to date, while XRP dropped 27% over the same period to trade near $1.39. The XRP Ledger processes 2.4 million daily transactions, up 21% year over year, and DEX volume surged 79%, yet active accounts fell 40%, pointing to fewer but larger participants. Seven spot XRP ETFs approved in March 2026 have pulled in $1.68 billion in cumulative inflows, with August alone contributing $153 million to $159 million, the best month since launch. RLUSD supply on the XRP Ledger jumped from 18.4% of total issuance at the start of 2026 to 58.9% today, with $963 million now sitting on XRPL and $1.1 billion on Ethereum. Institutional integrations, including JPMorgan, Mastercard, Convera, and Interactive Brokers, have overwhelmingly adopted RLUSD for settlement, not XRP, raising the question of whether the token is becoming a sidecar to its own ecosystem. The numbers tell two contradictory stories about the same network. XRP started 2026 near $1.90, slid to a July low of $1.06, bounced to $1.55 in August, and then drifted back to $1.36. Down 27% on the year. That is the kind of chart that makes retail traders close their apps and check back in six months.

But the infrastructure underneath that falling price is having its best year. The XRP Ledger is settling more transactions than at any point since the 2021 bull run. RLUSD, barely seven months old, already ranks among the ten largest stablecoins by market capitalization. Ripple signed deals with payment processors that move $190 billion per year. The Bank for International Settlements published a working paper using the XRP Ledger for cryptographic proof of integrity.

None of this lifted the token price. And that contradiction is the story worth unpacking, because it reveals something about XRP that the community has been reluctant to confront: the network’s success and the token’s performance may no longer be the same story.

The stablecoin that ate the narrative RLUSD launched in late 2025 as a compliance-first stablecoin designed to slot into existing banking infrastructure. Ripple positioned it as the settlement layer for cross-border payments, the exact use case that XRP was supposed to own. The company argued the two assets were complementary. Seven months of market data suggest otherwise.

The growth curve speaks for itself. RLUSD crossed $1 billion in market cap in the spring, then $2 billion on August 25, and sits at $2.32 billion today. Cumulative trading volume has passed $9 billion. The growth rate, 1,278% year to date, is the kind of number that would dominate crypto headlines if it belonged to a token people could speculate on. But a stablecoin pegged to one dollar does not generate the same excitement, even when it is quietly absorbing the utility that once justified XRP’s existence.

The listing trajectory tells its own story. Binance added RLUSD in January 2026. OKX followed on April 29. Gate.io on June 15. All four Korean Big 4 exchanges, Upbit, Bithumb, Coinone, and Korbit, now carry it. That is not a niche product limited to Ripple’s partner network. That is distribution at scale, across every major trading region, in under a year.

More revealing is where the supply lives. At the start of 2026, only 18.4% of RLUSD existed on the XRP Ledger, with the rest on Ethereum. Today that figure has flipped to 58.9%, with $963 million on XRPL and $1.1 billion on Ethereum. The stablecoin is migrating to XRP’s home chain at an accelerating pace, which means the ledger’s growing transaction volume is increasingly denominated in dollars, not in XRP. Every mint on the XRPL is a vote of confidence in the chain and a vote of indifference toward the token.

The institutional playbook that skipped XRP When JPMorgan ran its treasury settlement using Ripple infrastructure, it chose RLUSD for the cash leg. Not XRP. That single decision captures the entire institutional logic in one sentence.

The pattern repeated across every major deal Ripple closed in 2026. Convera, the payment company processing $190 billion per year in cross-border volume, integrated RLUSD for its corridor settlements. LMAX Digital signed a $150 million deal to bring RLUSD into its institutional trading infrastructure. Mastercard connected through Ripple’s payment APIs. BlackRock’s BUIDL fund interacted with the Ripple ecosystem through RLUSD rails. Flutterwave, fresh off a $3.2 billion Series E, partnered for African payment corridors where dollar-denominated settlement reduces friction for remittance senders. Interactive Brokers and B2C2 added RLUSD support for their institutional client bases.

Count the names. JPMorgan. Mastercard. BlackRock. Convera. These are not speculative crypto plays. These are the largest financial institutions on earth, and every single one chose the stablecoin over the token. The reasoning is not complicated. A bank treasury desk managing overnight positions in multiple currencies does not want to hold an asset that dropped 27% in eight months. A dollar-pegged token eliminates the volatility risk entirely. The parade of institutional names signing with Ripple is real, but the parade is marching toward RLUSD, and XRP is watching from the sidewalk.

This is not a conspiracy or a failure of strategy. It is the predictable result of building a stablecoin that does the same job as XRP but without the price risk. Ripple created a better product for the exact customer it spent a decade courting. The irony is thick enough to cut.

Consider the pitch Ripple made to banks from 2015 to 2023: use XRP as a bridge asset, settle in three seconds, save 40% to 70% on corridor costs compared to SWIFT. Banks listened politely and mostly declined. The volatility objection was consistent across every boardroom. Now Ripple walks into the same boardrooms with RLUSD, which offers the same three-second settlement on the same ledger with the same cost savings, minus the volatility. Banks are signing. The product-market fit that eluded XRP for a decade arrived the moment Ripple removed the token from the equation.

Fewer, larger hands Here is the number that nobody is talking about. Active accounts on the XRP Ledger dropped 40% year over year. At the same time, daily transactions rose 21% to 2.4 million, and DEX volume surged 79%.

Read those three data points together. Fewer wallets. More transactions. Much higher volume per wallet. The network is concentrating into a smaller number of participants who each move significantly more money.

This is the “fewer, larger hands” paradox, and it reframes the entire XRP story. Retail traders, the ones who drove the 2017 rally and the 2021 echo, are leaving. The 40% drop in active accounts is not a rounding error or a seasonal blip. It is a structural shift that has persisted across multiple months. The people who bought XRP hoping it would hit $10 are gone, or at least dormant, their wallets sitting idle while the network they once championed rewires itself around institutional flows.

Who replaced them? Institutional players routing payments through RLUSD on high-throughput corridors. Market makers filling order books with larger individual trades that generate the same volume from a fraction of the accounts. Treasury operations that do not need thousands of wallets because they consolidate flows into a handful of accounts with API-driven execution and batch settlement. The ledger did not get quieter. It got more efficient, which is the polite way of saying it got more institutional and less retail.

This matters because XRP’s price has always been a retail phenomenon. Institutions did not buy XRP to hold. They used it as a bridge asset, in and out in seconds, which created transaction volume but not sustained buy pressure. The token’s market cap was built on the belief that retail holders and institutional utility would eventually converge, that the network effect would grow large enough to lift the price floor permanently.

Instead, institutions found a way to use the network without the token, and retail left when the price stopped cooperating. The convergence thesis collapsed not because it was theoretically wrong, but because RLUSD offered institutions a better path that did not require XRP exposure at all. The bridge asset became optional the moment the bridge itself could carry dollars natively.

No competitor has published this analysis. The bullish XRP content focuses on ETF inflows and partnership announcements. The bearish content points to price decline and escrow dilution. Neither side has connected the account data to the RLUSD migration to explain what is actually happening on the ledger at a structural level.

The ETF paradox Against all of this, spot XRP ETFs are having a quietly strong year. Seven funds launched after SEC approval in March 2026, and they have pulled in $1.68 billion in cumulative inflows. August was the best month yet, with $153 million to $159 million in net new capital.

That is real money entering real custody wallets, managed by real fund managers with real fiduciary obligations. It validates XRP as an investable asset class in the eyes of traditional finance. It is also a fraction of what Bitcoin and Ethereum ETFs attracted in their first six months, which suggests the institutional appetite for XRP exposure has a ceiling that the community has not fully acknowledged. More critically, it creates its own paradox. ETF buyers are accumulating XRP in a wrapper that removes it from active circulation. They are not sending XRP across borders. They are not providing liquidity on the DEX. They are not participating in the network’s growing transaction volume. They are buying exposure to a price chart that has moved against them all year, warehousing tokens in cold storage vaults while the chain underneath operates on a different asset.

The ETF inflows have not translated into sustained price appreciation because the buy pressure from funds is offset by the sell pressure from escrow unlocks and the broader market’s indifference to XRP’s fundamental story. On September 1, Ripple unlocked three escrow tranches totaling 1 billion XRP: 100 million, 400 million, and 500 million tokens. The remaining escrow holds 32.6 billion XRP, with 1 billion tokens released every month. That is a monthly supply expansion that institutional ETF buyers cannot absorb at current flow rates, especially when the use case those institutions care about now runs on RLUSD.

The structural imbalance between inflows and outflows is the ETF story that the headline numbers obscure. One billion XRP at $1.39 equals roughly $1.39 billion in potential monthly sell pressure. August ETF inflows of $159 million represent 11.4% of that figure. Even assuming Ripple relocks most of each monthly unlock, the escrow mechanism creates a persistent overhang that works against price appreciation.

The ETFs prove that financial products can exist around XRP. They do not prove that XRP needs to appreciate for the Ripple ecosystem to succeed. That distinction is the quiet earthquake at the center of this story.

Regulatory clarity arrived and the price did not care The SEC case is resolved. Japan’s FSA approved RLUSD on June 25. The EU granted MiCA preliminary authorization in Luxembourg on June 23. The BIS published a working paper using the XRP Ledger for cryptographic proof of integrity.

Two years ago, any one of these headlines would have sent XRP up 30% in a day. All four happened in 2026, and XRP is down 27% on the year.

The obvious explanation is that regulatory clarity was already priced in. Markets anticipated the SEC resolution for over a year. The less obvious explanation is more important: regulatory clarity benefited RLUSD more than XRP. A stablecoin needs regulatory approval to function as a payment instrument in a given jurisdiction. A speculative token needs regulatory approval to avoid being delisted. The same event has different implications for different assets, and the market figured that out faster than the community did.

Japan’s FSA approval opened RLUSD to the third-largest economy by GDP, a market where dollar-denominated stablecoin settlement can replace costly yen conversion in cross-border flows. MiCA authorization covers the entire European Economic Area, granting RLUSD legal standing as an electronic money token across 30 countries. These are not theoretical markets. They are jurisdictions where RLUSD can now legally serve as a settlement currency for banks and payment processors.

XRP already traded in these markets before any of these approvals landed. Japanese retail investors have been among the largest XRP holders since 2017. European exchanges listed XRP years ago. The approvals changed nothing about XRP’s accessibility but changed everything about RLUSD’s commercial viability as a regulated payment instrument. Every regulatory win expanded the addressable market for the stablecoin while doing little more than confirming the status quo for the token. The community celebrated each headline as an XRP catalyst. The market priced each one as an RLUSD catalyst. The price chart settled the argument.

The cannibalization thesis Put it plainly. RLUSD is cannibalizing XRP’s primary use case, and Ripple is the one doing it.

This is not accidental. Ripple spent years arguing that XRP’s volatility was a feature, that a three-second settlement window meant the price swing during transit was negligible. That argument worked when the competition was SWIFT, which took days and charged 3% to 7% in corridor fees. It does not work when the competition is RLUSD, which settles on the same ledger in the same three seconds with zero price risk and lower integration complexity.

A payment processor choosing between a bridge asset that lost 27% this year and a stablecoin pegged to one dollar will choose the stablecoin every time. Not because XRP is broken, but because the stablecoin removes a category of risk that no amount of speed can compensate for. The conditions for XRP recovery exist, but they require something beyond Ripple’s core payment business to drive demand.

The bull case for XRP now rests on three pillars that have nothing to do with cross-border payments. First, speculative demand driven by ETF flows and retail re-entry during the next broad market rally. Second, DEX activity on the XRP Ledger creating organic demand for XRP as a base trading pair, a function that grows with on-chain DeFi development. Third, burn mechanics and escrow reductions gradually tightening supply over a multi-year horizon, eventually making the monthly unlocks negligible relative to circulating supply.

None of those pillars requires RLUSD to fail. They coexist. But they also mean that XRP’s investment thesis has quietly shifted from “utility token for global payments” to “speculative asset on a chain that settles stablecoin payments.” That is a meaningful downgrade in narrative, even if the price eventually recovers. It is the difference between owning a toll bridge and owning a house near a toll bridge. The traffic still passes by. The economics are entirely different.

What Ripple gains and what XRP holders lose Ripple the company is having an exceptional year by every metric that matters to a private enterprise. RLUSD generates revenue through minting and redemption fees. Institutional partnerships create recurring payment volume that compounds over time. Regulatory approvals open new markets with each jurisdiction. The Ripple ecosystem, measured by transaction throughput, partner count, and stablecoin adoption, has never been stronger.

XRP holders do not automatically benefit from any of that. Ripple holds billions of XRP in escrow, and the company’s success does not create a direct mechanism for that XRP to appreciate. There is no revenue share. There is no buyback program. There is no on-chain fee distribution. The link between Ripple’s business performance and XRP’s market price was always assumed by the community and never formally codified. In 2026, the data suggests that link is weaker than the community believed.

This is the uncomfortable truth that the “fewer, larger hands” data illuminates. The XRP Ledger is becoming an institutional payment rail denominated in RLUSD. The token that gave the ledger its name is becoming less relevant to the ledger’s primary function with each integration that chooses the stablecoin over the token. The network can thrive while the token stagnates, and 2026 is the first year where both of those things are happening simultaneously and measurably.

That does not mean XRP goes to zero. Plenty of tokens trade on narratives decoupled from their network’s primary utility, and some of them do very well over multi-year cycles. But it means the token needs a catalyst that is independent of Ripple’s payment business. Smart contract functionality expanding on the ledger could attract DeFi protocols that require XRP for gas fees and collateral. A DeFi ecosystem built on XRPL could generate organic trading demand that puts sustained buy pressure on the token through AMM pools and lending markets. Or a supply shock driven by sustained ETF accumulation combined with escrow reduction could tighten the float enough to move the price even without a fundamental use case shift.

Something has to create demand for XRP specifically, not for the XRP Ledger generally. Until that distinction narrows, the great disconnect will persist. And every month that RLUSD grows while XRP stagnates makes the distinction harder to close, because it proves to the next institutional prospect that the ledger works perfectly well without the token.

What to watch RLUSD monthly mint rate versus XRP escrow unlocks. If new RLUSD issuance consistently outpaces the dollar value of monthly escrow releases, the stablecoin is growing faster than the token supply. That ratio tells you which asset the market is choosing in real time. Active account trend reversal. The 40% drop in active accounts is the clearest signal of retail departure. A sustained increase over two consecutive months would indicate fresh participants entering the network, not just existing institutions adding wallets. XRP ETF flow acceleration. August’s $153 million to $159 million was strong but not sufficient to offset escrow sell pressure at current prices. Monthly inflows above $250 million would begin to matter for price. DEX volume composition. The 79% surge in DEX volume is bullish for network activity, but tracking how much of that volume is XRP-denominated versus RLUSD-denominated will reveal whether the token or the stablecoin is driving on-chain trading growth. Institutional settlement currency disclosure. When the next major bank or payment processor announces a Ripple integration, watch whether the press release names RLUSD, XRP, or both. That language is the clearest forward indicator of which asset institutions are choosing to build on. What is the current price of XRP? XRP trades near $1.39 as of early September 2026, down approximately 27% from its January high near $1.90. The token hit a year-to-date low of $1.06 in July before rallying to $1.55 in August, then pulling back again.

What is RLUSD and how big has it gotten? RLUSD is Ripple’s dollar-pegged stablecoin launched in late 2025. It has grown to a $2.32 billion market cap with cumulative trading volume exceeding $9 billion, representing 1,278% growth year to date. It is listed on Binance, OKX, Gate.io, and all four major Korean exchanges.

Why is XRP falling while the network grows? The XRP Ledger’s growing activity is increasingly driven by RLUSD settlement and institutional payment flows that use the stablecoin instead of XRP as the value transfer layer. Network utility and token price have decoupled because the utility does not require the token.

How many spot XRP ETFs exist? Seven spot XRP ETFs launched following SEC approval in March 2026. They have attracted $1.68 billion in cumulative inflows, with August generating $153 million to $159 million, the strongest single month since launch.

Is RLUSD replacing XRP for payments? Institutional integrations in 2026, including JPMorgan, Convera, Mastercard, and Interactive Brokers, have adopted RLUSD for settlement. Banks and payment processors prefer a dollar-pegged asset over a token carrying a 27% annual drawdown for the same three-second settlement speed.

How much XRP remains in escrow? Ripple holds 32.6 billion XRP in escrow with monthly unlocks of 1 billion tokens. On September 1, three tranches of 100 million, 400 million, and 500 million XRP were released. The escrow creates persistent monthly sell pressure.

Why did regulatory wins not boost XRP price? The SEC resolution, Japan FSA approval of RLUSD, and EU MiCA authorization were largely priced into XRP before they occurred. More significantly, these events disproportionately benefited RLUSD by opening new jurisdictions for regulated stablecoin use while changing little for XRP’s existing market access.

Should I buy XRP based on this analysis? This article examines the structural relationship between XRP price action and RLUSD adoption. Individual investment decisions depend on personal risk tolerance, time horizon, and financial situation. This is educational analysis, not investment advice.

Disclaimer: This article is for informational and educational purposes only. It does not constitute financial, investment, or trading advice. Cryptocurrency markets carry significant risk. Always conduct your own research before making investment decisions. Published September 9, 2026.

Ripple Exec Pushes Senate to Meet 'a Real American Crypto Holder' Before CLARITY Vote

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Major altcoins continue to show diverging technical patterns, with XRP, Stellar (XLM), Dogecoin (DOGE), and Near Protocol (NEAR) each testing distinct levels of support and resistance following eventful movements since August.

XRP remains above key support zoneXRP continues to trade in a consolidation phase after its strong breakout in August. Buyers have so far defended the most critical area between $1.33 and $1.36, preserving the uptrend structure from the recent rally.

The cryptocurrency, currently priced at $1.42, remains well above its four major moving averages. Notably, the 200-day EMA at $1.36 stands out as the most decisive support, having been reclaimed during the August surge and retested since then. The 20-day EMA has also climbed near $1.34, strengthening the underlying support zone.

If XRP breaks below the $1.33–$1.36 band, analysts expect a possible retreat toward $1.24, aligning with the 100-day EMA, which would threaten the ongoing recovery. Immediate resistance levels are seen at $1.45–$1.47, followed by a major zone at $1.50–$1.55. A move above $1.55 is required for XRP to test the $1.70 area again.

XRP’s RSI remains near 61, suggesting the market has room for renewed momentum if buyers return, while still trading safely away from overbought territory.

Stellar struggles at key averagesStellar (XLM) currently changes hands at around $0.188, just below its 200-day EMA of approximately $0.189. Unlike XRP, XLM has not broken above this long-term trendline, which has now become the decisive marker for its medium-term performance.

Multiple support levels are clustered beneath the current price: the 20-day EMA at $0.181, the 50-day EMA at $0.175, and the 100-day EMA at $0.180. XLM has managed to overcome its shorter-term moving averages but faces significant resistance at the 200-day EMA.

A sustained move above the $0.189–$0.190 zone could allow XLM to revisit the $0.20 psychological level before targeting resistance near $0.21–$0.22. If Stellar fails to stay above $0.180, and especially if it drops below $0.175, downside risks could increase, with a potential test of $0.16. Its RSI stands at about 56, indicating a neutral to bullish outlook and space for renewed upside if momentum improves.

CoinCurrent Price200-day EMAKey SupportResistance TargetXRP$1.42$1.36$1.33–$1.36$1.70XLM$0.188$0.189$0.180$0.22DOGE$0.090$0.094$0.082–$0.084$0.11NEAR$2.62$1.83–$1.87$2.03$3.10Dogecoin eyes key breakout zoneDogecoin (DOGE) has spent most of the summer under pressure but managed a recovery from its August low near $0.070. It currently trades around $0.090, with the 200-day EMA at $0.094 serving as a critical technical barrier.

DOGE has tested this resistance twice without a clear daily close above it. Only a breakout through the $0.094–$0.095 region would open the way to $0.10 and, beyond that, resistance levels at $0.105–$0.11. Securing these levels could strengthen DOGE’s medium-term prospects.

Support has improved, anchored by the 20-day EMA at $0.084, 100-day EMA at $0.083, and an additional layer with the 50-day EMA at $0.078. Losing the $0.082–$0.084 range may weaken the recovery and put pressure toward $0.075. The RSI sits at 61.5, reflecting continued positive momentum while remaining just below overbought territory.

NEAR surges but faces overbought risksAmong these altcoins, Near Protocol (NEAR) stands out for its forceful upward breakout. After bottoming near $1.60 in August, NEAR climbed roughly 60% and is now trading at $2.62, having posted a 13% gain in the last session.

NEAR now sits well above its major moving averages, with the 50-, 100-, and 200-day EMAs clustered between $1.83 and $1.87, and the 20-day EMA rising to $2.03. This forms a significant support zone should the price experience a short-term correction.

The daily RSI is elevated at 75, signaling that NEAR’s rally is in overbought territory and carries an increased risk of short-term profit taking. A sustained advance above $2.60–$2.65 could allow NEAR to challenge $2.80 and the previous highs near $3.00–$3.10. Key supports to watch include $2.40–$2.45 and, below that, $2.20 and $2.03. Observers suggest that, despite bullish structure, NEAR may need a period of consolidation after its rapid 60% increase from August, to reduce the risk of a sharp correction.

Mini dictionary: Near Protocol (NEAR) is a layer-1 blockchain designed for high scalability and developer-friendly smart contracts, utilizing a unique sharding technology called Nightshade to improve transaction throughput and decrease network congestion.

With NEAR’s daily RSI approaching 75 and acceleration since August, analysts highlight the growing chance of a near-term pullback, even as upside targets remain in sight.

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Crypto analyst Eira proposed a possible scenario in which XRP reaches a price of $300, challenging the common belief that its growth would be slow and incremental following potential regulatory clarity. In a recent post on X, Eira argued that XRP’s value could surge rapidly due to integration with established financial infrastructure providers, rather than through piecemeal bank-by-bank adoption.

Existing financial infrastructure partnershipsEira cited Ripple’s existing partnerships with major financial technology firms, including Volante, ACI Worldwide, and Finastra. These companies supply software and transaction solutions to thousands of banks and financial institutions around the globe, allowing for broad technological reach.

In Eira’s view, these relationships could allow Ripple to deliver XRP liquidity access across multiple banks via a single software integration or update, rather than negotiating with each institution individually. Such an approach would potentially accelerate the adoption of XRP-powered payments and settlements.

“Many people believe that after the Clarity Act is passed, XRP will only slowly rise to $5-10, imagining banks adopting it one after another, like a chain supermarket,” Eira said. The analyst asserted this scenario underestimates the impact of financial networks already in place.

By embedding XRP into backbone systems used by large numbers of banks, Ripple may be able to foster wider and faster adoption, especially in the area of cross-border settlements and payments.

Mini dictionary: Volante, ACI Worldwide, and Finastra — Leading financial technology companies providing payment processing and infrastructure software to financial institutions globally, enabling digital payments, clearing, and settlement services at scale.

Liquidity requirements at the center of price targetEira emphasized that liquidity will be a key factor if XRP is to support large-scale institutional settlement operations. The analyst questioned whether XRP could fulfill the needs of global financial organizations if its price remained at $10 to $20, suggesting that such a low price could restrict the amount of value the network can process.

Eira wrote, “If the price of XRP were to stagnate at $10–$20, it would be akin to trying to transport the ocean’s water through a thin straw.” The implication is that, in order to move massive transaction volumes efficiently, the price per XRP would need to rise to provide sufficient liquidity for settlements on a global scale.

The Clarity Act was referenced as a potential regulatory milestone that could open the door for broader institutional involvement with XRP. Eira described legislative clarity not as the end point but as the beginning of rapid growth opportunities for the crypto asset.

“Many people believe that after the Clarity Act is passed, XRP will only slowly rise to $5–$10, imagining banks adopting it one after another, like a chain supermarket. But Ripple has long established deep partnerships with infrastructure providers serving thousands of banks, enabling a much wider and faster path to integration.”

A commentator using the name Ledger & Liquidity focused on the role of the distribution model in Eira’s thesis. According to this perspective, the true significance of Eira’s post lies less in the $300 target itself, and more in how XRP could be distributed across financial institutions through collective infrastructure connections.

Ledger & Liquidity noted that leveraging existing platforms used by multiple banks could allow XRP liquidity features to be offered to institutions en masse, bypassing the need for slow, bilateral integration deals. This broad access could make XRP more attractive as a settlement tool if institutions seek shared liquidity solutions.

Eira concluded by posing the question: How large must XRP’s liquidity infrastructure grow to meet the requirements of a global financial system? The answer, according to the analyst, will likely depend on the efficiency of current financial networks in delivering rapid, large-scale access to XRP markets.

The argument frames the growth of XRP as being tightly linked not just to the number of participating banks, but to the ability of established software providers to bring XRP support to global institutions simultaneously — a factor that could profoundly accelerate mainstream uptake.

Former Ripple engineer and current Anthropic researcher Evan Hubinger has estimated that there is a greater than 10% chance that artificial intelligence (AI) could wipe out humanity within the next decade.

Hubinger made the comment while responding to former Anthropic researcher Jacob Coxon. The latter announced his resignation from the AI company on Wednesday after accusing the industry’s leading laboratories of racing toward self-improving superintelligence without adequate safeguards.

"Jacob is correct here—we really do earnestly believe AI could kill all humans!" Hubinger wrote on X. "I personally think it is >10% within the next decade."

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Hubinger stressed that his estimate was not an accusation that Anthropic was ignoring the problem altogether.

"I believe Anthropic is trying its best, but we do not yet have a plan to solve alignment for superintelligence and are not clearly on track to," he said.

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The somewhat sensationalist warning has attracted a lot of attention because Hubinger works directly on the problem he is warning about. At Anthropic, his job is alignment stress-testing, which means that he is currently monitoring how safety techniques could fail in the realm of AI.

"Gambling with our lives" Coxon said that neither OpenAI nor Anthropic is acting responsibly. 

"Neither company is acting responsibly," he wrote. "They are racing straight to self-improving superintelligence and gambling with our lives."

Frontier systems might soon gain an ability to exert meaningful influence outside controlled environments, according to Coxon. 

"These will soon be superhuman systems that can hack anything, revolutionize any field overnight, and acquire real power and resources," he said.

Major laboratories are not properly disclosing AI-related risks to the public, according to Coxon. 

Coxon nevertheless said he remained optimistic that major AI laboratories could coordinate to slow the race. 

The warnings from Hubinger and Coxon have arrived just days after OpenAI and Anthropic released some of the most powerful models. 

OpenAI unveiled GPT-6 Astra on Sept. 3, which Nvidia CEO Jensen Huang has described as the advent of superintelligence. 

In the meantime, Anthropic introduced Claude Fable 5.1 and Claude Mythos 5.1. These are the company's most advanced models for coding and scientific research. 

Ripple and InterledgerBefore becoming one of the more prominent researchers working on AI alignment, he spent roughly a year as a software engineering intern at Ripple between June 2014 and August 2015.

Hubinger worked on the early design of Interledger, a protocol intended to allow payments to move across different ledgers and currencies.

Hubinger later moved toward theoretical computer science and AI safety, including work at the Machine Intelligence Research Institute.

Ripple's stance on AI As reported by U.Today, Ripple CEO Brad Garlinghouse has stated that the company had been adopting AI "aggressively," predicting that it could boost growth. Garlinghouse admitted that his AI optimism was somehow contrarian. 

"I have a somewhat contrarian view on some of this," Garlinghouse said during an appearance at the SALT Wyoming conference.