Track market-moving stories before they get noisy

Chainalysis attributed the September 24 theft of $387 million from Bitget to North Korean actors, according to its October 1 investigation report.

The firm said the attack brought crypto thefts linked to North Korea above $1 billion in 2026.

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Within three hours, the stolen funds moved in 23 transfers across Ethereum, XRP, Zcash and Tron. Chainalysis put their shares at 49.7%, 40.8%, 7.6% and 1.8%, respectively.

Attackers converted stolen XRP into Bitcoin through a cross-chain liquidity protocol. Investigators matched deposits with payouts and followed tens of millions of dollars to attacker-controlled Bitcoin addresses.

Chainalysis said AI-built automation reduced one bridge-reconciliation task from more than 20 hours to under 10 minutes. Human investigators reviewed outputs and directed the work.

The firm said it would continue monitoring destination addresses and sharing information with exchanges and law enforcement.

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

XRP has started off October on a strong note as its ETFs have recorded a decent influx of fresh capital on October 1, after their performances fell flat at the close of the last month.

While momentum appears to be building again in the XRP ecosystem, latest data from SosoValue shows that XRP saw a fresh influx of capital while Ethereum only saw investors withdraw their funds as the new month began.

XRP flips Ethereum According to the data, XRP ETFs attracted about $4.07 million in net inflow during their daily trading session on October 1, while Ethereum ETFs posted a net outflow of $55.37 million on the same day.

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As such, the data shows a major divergence between the performances of both assets, revealing that XRP ETFs outperformed Ethereum ETFs by about $59.44 million in daily flows at the start of the new month.

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While XRP ETFs also recorded $25.87 million in total trading volume on the same day, it signals renewed interest in the asset after their performance slowed in the past week, drawing attention from market analysts.

Franklin takes dominance from Bitwise Although XRP performed better than Ethereum during their latest trading session, the amount of capital pulled in by XRP funds was pretty low.

While Bitwise and Franklin Templeton attracted about $3.18 million and $4.06 million in new capital respectively, the inflows were partly offset by a $3.18 million outflow from Canary's XRP ETF.

Ethereum, on the other hand, was significantly subdued as it saw investors pull a higher amount of capital from its spot ETFs as October began.

Notably, the asset recorded a $55.37 million net outflow, pushing its cumulative net inflows to $13.84 billion.

Ripple has reported that its RLUSD (Ripple Liquidity USD) stablecoin now has a circulating supply surpassing $2.4 billion, according to updated figures published on the company’s official transparency page. The latest disclosure, dated September 24, indicates that RLUSD reserves are higher than the circulating supply by approximately $122.5 million, or about 5%.

RLUSD reserve management and transparencyRipple stated that the reserves backing RLUSD are maintained in segregated accounts and consist of a mix of US dollars and highly liquid cash equivalents. The company also collaborates with Standard Custody & Trust Company, the regulated entity responsible for issuing RLUSD. This custodian operates under supervision from the New York Department of Financial Services.

To support transparency, Ripple publishes monthly, independently conducted CPA attestations that detail circulating supply figures and reserve assets. These reports are available for public review and are intended to provide assurance regarding RLUSD’s full backing and regulatory compliance.

RLUSD’s reserve surplus reportedly places it among the most conservatively managed stablecoins in the regulated dollar token sector.

Mini dictionary: Standard Custody & Trust Company, a regulated digital asset custodian, provides institution-grade storage, transfer, and settlement of digital assets, operating under New York state financial regulations to enhance client asset security.

Growth milestones and market positioningRLUSD crossed the $2 billion mark in late August, and its growth has continued at a brisk pace. The total supply has expanded by more than $400 million within roughly one month, solidifying RLUSD’s position as one of the fastest-growing regulated stablecoins in the sector. Ripple aims to elevate RLUSD’s role within its broader institutional finance services, viewing it as an anchor for liquidity products and infrastructure.

Recent developments have positioned RLUSD at the center of new Ripple initiatives involving institutional payments, tokenized assets, and participation in credit markets. Efforts to integrate RLUSD with related technologies, such as FXRP (a synthetic XRP token) and lending infrastructure, reflect Ripple’s strategy to embed RLUSD more deeply in institutional liquidity operations.

RLUSD now functions as a foundational element across multiple blockchain environments, which Ripple has described as key to its evolving financial and payment products.

Multichain expansion and liquidity strategyDistribution of RLUSD is becoming increasingly multichain. On Ethereum, RLUSD holdings recently stood at about $1.38 billion, while XRPL accounted for roughly $1.03 billion. This shift extends Ethereum’s lead, with each network having swapped the top spot during several periods earlier in the year. Ripple’s approach deliberately aims to build liquidity for RLUSD across multiple ecosystems rather than centralizing the token on a single ledger.

BlockchainRLUSD SupplyEthereum$1.38 billionXRPL$1.03 billionRipple has emphasized that operating RLUSD on several blockchain networks enhances both liquidity and accessibility, moving the token beyond its original payment-focused use case. This multichain strategy is expected to play a central role as RLUSD’s adoption continues to broaden within institutional marketplaces.

Integration with diverse lending, payments, and asset tokenization infrastructures suggests RLUSD is expanding from a simple stablecoin into a core piece of Ripple’s institutional liquidity ecosystem.

Clients of the Bitwise and Franklin Templeton spot XRP ETFs bought another $7.24 million worth of XRP. In ETF land, that counts as a quiet day.

A steady drip, not a firehose On September 23, 2026, combined net inflows into the two funds totaled $18.04 million. Bitwise accounted for $11.54 million of that, while Franklin Templeton brought in $6.50 million.

Two days later, the pace picked up. On September 25, combined net inflows reached approximately $22.65 million, with Bitwise responsible for around $18.39 million.

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Total inflows across XRP ETFs have climbed to around $1.79 billion. Net assets sit somewhere between $1.7 billion and $1.8 billion, nearing that upper figure.

Bitwise leads the pack, with cumulative net inflows in a range of $613 million to $677 million. Franklin Templeton trails but is closing in on the $500 million mark.

How XRP ETFs got here Bitwise and Franklin Templeton launched their US spot XRP ETFs in November 2025. The pitch was simple: give investors XRP price exposure without making them manage the token themselves.

The products have also benefited from a friendlier regulatory backdrop around Ripple and XRP. XRP ETFs have since become a popular diversification pick, often sitting in portfolios alongside Bitcoin and Ethereum exposure.

Inflows up, price not so much The token has been trading under pressure near the $1.5 level, even as ETF money keeps arriving. Inflows into these funds have not tracked neatly with XRP’s price moves.

What this means for XRP and the ETF market Bitwise’s cumulative inflows outpace Franklin Templeton’s, and its daily contributions have been larger in recent sessions. Franklin Templeton is approaching $500 million in cumulative inflows.

What to watch next: whether daily inflows return to the $18 million to $22 million range seen in late September, whether cumulative inflows push past the $1.8 billion area, and whether XRP can hold or reclaim ground around $1.5.

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

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Ripple has performed its scheduled monthly release of 1 billion XRP from escrow as October begins. Blockchain tracker Whale Alert reported four transactions that saw a total of 1 billion XRP unlocked from escrow.

The transactions are given as 400,000,000 XRP worth $595,636,565 at the time of unlock; 200,000,000 XRP worth $297,818,282; 300,000,000 XRP worth $446,727,424; and 100,000,000 XRP worth $148,909,141.

The release follows Ripple's established practice of unlocking XRP at the beginning of each month from its escrow accounts. While the headline figure is 1 billion XRP, the entire amount does not necessarily enter the circulating market.

Ripple has often returned a large portion (about 700 to 800 million XRP) of unlocked XRP to escrow, with the remainder used for operational purposes, ecosystem initiatives, and other activities.

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According to XRPScan data, the total XRP escrowed is given as 31,845,130,805 XRP (31.9% of supply), while the XRP circulating supply is given as 68,126,080,636 (68.1% of total supply of 100 billion XRP). A total of 14,394,279 XRP has been burned so far (0.014% of supply).

The next 24 hours will be watched to see how much Ripple returns to its escrow to get the exact amount of XRP left. For now, 31.845 billion XRP remains escrowed, down from over 32.4 billion XRP reported months back.

Ripple newsLendingProtocolV1_1 is open for validator voting. It introduces closed-ended vaults and cash-basis accounting for XRPL lending, and it must activate before the Lending Protocol and Single Asset Vault amendments can proceed.

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In a recent milestone, over 10 million x402 payments have now settled on the XRP Ledger, less than 3 months after hitting the 1 million milestone.

According to RippleX head of engineering JA Akinyele, the volume is still dominated by AI agents paying for inference and data, but a broader range of x402 services are beginning to show up across financial data, risk, credit, and other agent APIs. In addition, the latest 7-day run rate is now 500,000 payments per day'

In a major milestone, central securities depository CSD BR is recording securities ownership on a public blockchain for the first time—on the XRP Ledger. CSD BR is partnering with Ripple to bring Brazil's regulated capital markets onchain, starting with BTG Pactual fund shares secured by Ripple Custody.

Uphold has rolled out Vault Inheritance, which is described as a legacy-planning option for customers who keep Bitcoin, XRP, and Hedera in the platform’s assisted self-custody wallet.

The company framed the product as a response to a problem unique to crypto: legal title can pass to an heir, but the cryptographic control needed to move coins often does not.

Vault itself launched in late 2023 as a 2-of-3 multisignature wallet inside the Uphold app.

Two keys belong to the user and one belongs to Uphold.

Two signatures are required to move funds, so the firm cannot unilaterally spend customer assets, while users still get help replacing a lost key and can trade without first leaving the app.

Inheritance is now layered on that structure. A holder invites a beneficiary from the Vault dashboard.

The invitee must be at least 18 and hold an Uphold account.

That person receives no view of balances, history, or addresses while the owner is alive, and the designation can be changed at any time.

After a death, the beneficiary starts a claim in the app and submits official records such as a certified death certificate or probate order.

Uphold’s compliance team reviews the paperwork.

Only after that review does the firm co-sign a transfer of Vault holdings into the beneficiary’s own Uphold wallet.

The company says the beneficiary needs no prior crypto experience.

For XRP, the ledger’s reserve rules still apply, so a small amount of XRP must remain in the account.

Nancy Beaton, Uphold’s president of consumer, said digital assets have become part of how many people build wealth, yet few simple tools exist to pass them on securely, “especially for XRP holders.”

The firm cited widely circulated estimates that millions of bitcoin—valued in the hundreds of billions of dollars—sit in wallets that are effectively unreachable because owners died or lost keys.

Those figures mix several kinds of inaccessibility and should be treated as industry estimates rather than a precise inventory.

Even so, they capture the practical gap the product is meant to close.

Vault currently supports BTC, XRP, HBAR, and a short list of XRPL tokens, with more networks planned.

Availability follows Uphold’s existing footprint, including the United Kingdom, the European Economic Area, most US states, and other supported regions.

The design is a compromise.

Users keep day-to-day control and can still move coins independently if Uphold’s systems fail.

They also accept a paid subscription and place trust in the firm to verify claims and co-sign the final transfer.

That is different from leaving seed phrases in a will or relying on a purely self-managed wallet, where a missing phrase can lock an estate out of the funds forever.

It is also different from a conventional brokerage account, where beneficiary designations are usually free and the custodian already holds the assets.

For holders who want self-custody without treating key management as a family project, Vault Inheritance is a narrower, productized path: name one adult beneficiary, keep the coins private in life, and let a documented claim, plus Uphold’s remaining key, complete the handoff after death.

The XRP Ledger has now inched closer to launching its long-awaited native lending infrastructure. The new LendingProtocolV1_1 amendment is now open for validator voting.

RippleX announced on Sept. 30 that validators can now evaluate and vote on LendingProtocolV1_1. 

The upgrade comes with two significant changes to the XRPL lending architecture: closed-ended lending vaults and cash-basis accounting.

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The amendment extends two other proposed pieces of XRPL infrastructure (LendingProtocol and SingleAssetVault).  

According to RippleX, LendingProtocolV1_1 must activate alongside the original LendingProtocol and SingleAssetVault amendments. 

The amendment changes how that pooled capital can be used for lending.

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It was included in XRP Ledger server version 3.4.0, released on Sept. 16. The release formally introduced LendingProtocolV1_1 to 'xrpld.' 

Opening validator voting is not the same as activation.

A proposed change must receive support from more than 80% of trusted validators. Furthermore, it must maintain that level of support for two weeks. If support falls back to 80% or below during that period, the two-week countdown resets.

Closed-ended vaultsLendingProtocolV1_1 has introduced the ability to create a second type of Single Asset Vault.

Single Asset Vaults pool one type of asset from multiple depositors and make that capital available to another protocol. A vault can hold XRP, a trust line-issued token or a Multi-Purpose Token.

An open-ended vault works like an investment pool that remains continuously accessible. Users can deposit capital and receive shares based on the prevailing price per share. 

Approving V1_1 alone would not suddenly create a functioning XRPL lending market.

RippleX says all three amendments (SingleAssetVault, LendingProtocol and LendingProtocolV1_1) are required for operational lending. 

The Sept. 30 vote should be viewed as a procedural milestone. 

The growing alignment between Distributed Ledger Technology (DLT) and the ISO 20022 global financial messaging standard is drawing renewed attention to XRP, the native digital asset of Ripple. Unlike other cryptocurrencies such as Stellar Lumens and Hedera Hashgraph, XRP’s protocol was developed for native compliance with ISO 20022, positioning it as a key participant as banks and payment providers move toward the new standard.

ISO 20022 standard reshapes paymentsISO 20022, an internationally recognized protocol for electronic data interchange among financial institutions, offers richer, more structured data and enables faster cross-border transactions. Global payment network SWIFT has mandated a transition to ISO 20022 messaging for all banks by the end of the year, pushing the entire financial industry to update their systems.

Recent coverage in nocash Magazine described scenarios where XRP operates as a bridge currency alongside Central Bank Digital Currencies (CBDCs) within centralized payment systems. By using On-Demand Liquidity (ODL), Ripple’s technology allows major banks to exchange XRP for local currencies almost instantly, directly addressing challenges tied to cross-border settlements for SWIFT-participating financial organizations.

The practical implications of this integration could see a significant portion of legacy payment volume being moved on-chain, streamlining international transactions and potentially increasing reliance on digital assets designed for compliance with global standards.

Mini dictionary: ISO 20022, a global standard for financial messaging, promotes interoperability and faster, more secure payments across international banks and financial institutions. Its adoption is reshaping how data is exchanged for cross-border transactions.

XRP’s positioning and projected impactRipple, a US-based fintech company focused on real-time cross-border payments, has emphasized XRP’s potential role in the global payments landscape. Previously, Ripple CEO Brad Garlinghouse projected that XRP could capture up to 14% of SWIFT’s $155 trillion annual transaction volume.

Last year, Ripple strengthened its payment offerings through the acquisition of GTreasury, a treasury management platform that processed $13 trillion in transfers – although these volumes did not yet include digital assets. Ripple has indicated plans to bridge this gap in 2024 as financial institutions accelerate ISO 20022 adoption.

EntityAnnual VolumeRoleSWIFT$155 trillionTraditional global paymentsRipple$13 trillionCorporate payments (GTreasury, 2023, not digital)SWIFT’s move to ISO 20022 is expected to bring more cross-border activity on-chain, with Ripple promoting XRP as a bridge asset for these transactions.

Debate over Bitcoin and complianceIndustry observers hold differing views on how the ISO 20022 migration might affect established cryptocurrencies such as Bitcoin. Blockchain researcher SMQKE has argued that Bitcoin’s global market dominance could weaken if financial institutions value compliance with ISO 20022, a standard where XRP is already positioned favorably.

However, analyst Macro Bombastic countered this perspective, suggesting Bitcoin’s robust infrastructure and deep liquidity would maintain its relevance regardless of the standard. “Bitcoin doesn’t need ISO 20022 to keep doing its thing,” Macro Bombastic commented, noting that Bitcoin continues to lead daily trading volume among digital assets by a wide margin.

ISO 20022 may be a key test for traditional finance institutions adapting to new technology, with Ripple’s XRP holding a unique position due to its native compatibility with the standard.

Interplay with CBDCs and global adoptionThe convergence of CBDCs and ISO 20022 adoption creates further opportunities for XRP. Current research indicates that nearly 80% of countries are piloting or developing their own digital currencies. XRP’s integration with emerging CBDC platforms as a bridge asset could reinforce its role in facilitating efficient, cross-border digital settlements.

As Ripple’s technology enters new corporate and governmental channels, XRP’s alignment with global financial messaging standards is drawing wider institutional attention, especially as banks seek interoperability in a rapidly digitizing landscape.

On September 30, XRP appreciated with the shareholder vote approval of the proposed merger of Evernorth with Armada Acquisition Corp. II. The feat takes a massive obstacle away from the Ripple-backed XRP treasury company, which is now eyeing a Nasdaq debut.

XRP Recovers After Sharp Intraday Drop The vote has caught the eye of the XRP community, with Evernorth’s plans to launch a public XRP treasury under the XRPN ticker on Nasdaq. This move also coincided with a dramatic intraday selloff, putting the latest rebound in check as traders digested the impact of the merger result.

At press time, Ripple’s XRP rose by roughly 1.89% to $1.51 following a dip to below $1.47 ahead of the vote. The chart depicts a choppy trading session.

XRP price chart today. Source: TradingView Earlier in the day, XRP price started to rise to $1.55, but it soon turned around. The Ripple’s native token subsequently drifted around primarily between $1.48 and $1.50 for several hours. The price of XRP regained interest as the buys resumed later, pushing the coin back to $1.51.

This rally came around midday and XRP was soon touching $1.54. The rally was short-lived and the token soon returned to around $1.50. XRP was then able to find support below that level, before making a recovery.

The latest candles indicate that XRP is bouncing towards $1.51, implying that buyers have entered the market after the prior weakness.

XRPL Collaborator Reports Evernorth Vote Passed The Armada shareholders’ vote on the Evernorth merger was a major catalyst for the XRP price rebound today. Bear Champ, who is a collaborator of XRPL, reported this result on X.

“Listened in on the Armada/Evernorth merger vote, it passed,” Bear Champ wrote.

The reported result is an important step for Evernorth. The company hopes to create a big corporate XRP treasury in a publicly traded structure.

There will be over 473 million XRP sold in the proposed transaction. Once the remaining closing conditions are met, the merged company will continue to be traded on the Nasdaq under the “XRPN” ticker.

For XRP, the vote does not directly change individual corporate holders’ balances, for XRP. Rather, it pushes for the formation and development of a giant corporation that has a high stake in the token.

The next focus will be official confirmation of the vote and the remainder of the steps to complete the merger.

Financial analyst Levi described the US Securities and Exchange Commission’s latest crypto guidance as a major milestone for the industry, stating that the recent update is “massively bullish for crypto and $XRP.” Levi made his remarks after the SEC published new guidance and FAQs on September 25, 2026, covering several aspects of the digital asset sector.

SEC guidance expands on previous XRP classificationThe latest document builds directly on the March Interpretive Release that the SEC issued jointly with the Commodity Futures Trading Commission. That earlier release explicitly classified XRP as a digital commodity, marking a pivotal moment in the asset’s regulatory history.

Levi responded to the new guidance on X, writing, “BIG WIN FOR CRYPTO!!” He suggested that the SEC’s clarifications on how securities laws apply to digital assets could create industry-wide benefits and strengthen the position of XRP. The remarks highlighted positive sentiment among segments of the crypto community.

Levi declared, “BIG WIN FOR CRYPTO!! SEC issues new guidance clarifying securities laws on crypto. This is massively bullish for crypto and $XRP.”

The SEC’s Division of Corporation Finance released the updated material to offer deeper insight into digital asset transactions. However, the agency stated that the document only provides staff interpretation, not new binding rules.

Functional networks, token buybacks, and liquid staking addressedThe SEC guidance clarifies the regulatory status of crypto networks that have achieved full functionality. According to the document, routine operations related to the security, maintenance, or improvement of a network do not automatically meet the “essential managerial efforts” required for a securities law analysis under the Howey test.

In addition, staff addressed the issue of token buybacks in fully functional and decentralized networks, stating that such buybacks do not inherently constitute investment contracts. The characterization, the SEC explained, depends on transaction structure and profit expectations related to managerial actions.

The guidance also provided details on liquid staking receipt tokens. The SEC outlined situations where these tokens may represent interests tied to underlying digital commodities, but do not automatically result in an investment contract.

These points are intended to give developers and market participants greater clarity regarding several digital asset activities that previously faced regulatory uncertainty.

Mini dictionary: Howey test – A US legal standard from a 1946 Supreme Court case, used to determine whether a transaction qualifies as an investment contract and therefore falls under securities regulation.

Guidance offers clarity but does not change securities lawWhile Levi viewed the guidance as a “BIG WIN,” the SEC clarified that the material reflects staff views and does not carry the force of law. The Division of Corporation Finance emphasized that the FAQs do not amend US securities regulations or supersede existing legal precedent.

The agency indicated that each case involving digital assets continues to be reviewed individually based on specific facts and circumstances. The update aims to provide market participants with additional regulatory insight but does not grant blanket exemptions for cryptocurrencies or related businesses.

The Division of Corporation Finance emphasized, “Staff guidance does not have the force or effect of law and does not alter the application of federal securities laws.”

XRP’s legal position and prior court decisionsAlthough the new SEC guidance addresses several crypto activities in general terms, it does not create new rules specifically for XRP. The current regulatory treatment of XRP remains influenced by previous court cases. On July 13, 2023, Judge Analisa Torres ruled that Ripple’s programmatic sales of XRP on digital exchanges did not meet the conditions of the Howey test. However, the court reached a different conclusion for some institutional sales.

This legal distinction is important in evaluating the significance of the SEC’s guidance for XRP holders and investors. Levi’s remarks place the latest update within an overall positive regulatory climate for both the crypto market and XRP, but do not signal a new legal determination for the asset itself.

The recent SEC release adds to the available regulatory information for the crypto industry while maintaining individualized assessments for each asset according to its unique circumstances.

XRP ETFs have recorded 11 consecutive weeks of inflows, with Bitwise's fund accounting for $677 million cumulatively.

Bitwise Chief Investment Officer Matt Hougan has laid out why financial advisors are buying Ripple’s native token, and the reasons have little to do with it price.

His remarks follow an 80% rise in XRP ETF net assets during the third quarter, to a record $1.77 billion on September 25.

XRP Will Always Be Around Hougan called XRP “one of the Mount Rushmore assets in crypto” and gave two reasons it appeals to investors. The first is that they are confident it won’t go away.

“A lot of financial advisors look at crypto and wonder, ‘Are these things for real? Will they persist? Will they be here in the future?’ And XRP has this enormous track record and this enormous background that gives people confidence it will be there in the future,” Hougan explained.

The second reason is practical. XRP “fits into real-world applications that they can understand,” according to the CIO. Advisors follow the stablecoin space and the cross-currency and liquidity space, and pay attention to news such as Ripple getting a bank charter.

XRPL community figure Hussein Zangana, who goes by Vet on X, made a related case, calling the network “real” and adding that it “has persisted the most amount of scrutiny any crypto has received.” As CryptoPotato reported earlier, XRP ETFs took in about $76 million last week, their best week in a month, extending the run to 11 straight weeks of inflows.

Bitwise’s fund leads with $677 million in cumulative inflows, followed by Franklin’s at $501 million, while the one from 21Shares has so far bled $21.15 million. On Monday, SoSoValue data shows, Canary’s XRPC added $3.96 million, taking cumulative inflows across all XRP ETFs to $1.79 billion. Total net assets were $1.68 billion, below Friday’s record level.

In related news, Bitwise filed an updated prospectus on September 28 for its XRP fund, which charges a 0.34% fee and holds its coins with Coinbase Custody. This is because, as analyst Xaif Crypto noted, the ETF keeps issuing new shares, so the prospectus has to stay current.

You may also like: XRP Eyes $1.80 to $1.90 If It Clears 50-Week EMA: Analyst XRP ETFs Attract $75M in a Week as SOL Funds Hit New 2026 High A Huge Week Is Coming for XRP as Evernorth Nears Crucial Nasdaq Vote XRP Price Watch At the time of writing, XRP was trading around $1.50, up about 2% in 24 hours, almost 7% in the last 14 days, and nearly 8% across the past month. However, it’s still 47% lower than where it was a year ago and 59% below its all-time high of $3.65.

The Ripple token is on track for a third straight green month, having gained about 30% in August and a more modest 2.10% in July, something Xaif Crypto reminded has rarely happened in bear markets.

The last time XRP had a longer run of consecutive monthly gains was in 2023, when it went on a run from September to December that year, which was broken by an 18% drop in January 2024.

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Ripple says asset managers are preparing to use XRP Ledger Batch. The transaction type can make several ledger actions succeed or fail together, but an emergency software release has moved attention from a September 29 activation expectation to an October 9 security amendment. The capability is specific. So is the evidence that institutional adoption remains prospective.

Summary

Batch can contain between 2 and 8 inner transactions under its published specification. Four modes determine whether all, one, a prefix or any qualifying inner transactions execute. XRP Ledger version 3.4.1 introduced a security-sensitive Batch fix on September 25. The foundation expects fixBatchV1_2 to enable October 9 if validator support persists. A successful outer Batch can mask failed inner transactions unless the application checks their results. The central promise is simple: make related steps settle in one ledger close. An asset manager that needs to deliver a token and receive payment may prefer an all-or-nothing exchange to sending the asset first and hoping the money arrives. RippleX has described asset managers and commercial projects preparing for the feature, as covered in the earlier institutional interest report. It did not publicly name a production asset manager with a live mainnet Batch transaction in that account.

JUST IN: Brad Garlinghouse highlights why Ripple cannot control the XRP Ledger

Ripple operates only a small share of XRPL validators, and the $150M+ hack involving co-founder Chris Larsen showed that the company cannot reverse transactions or recover lost $XRP. pic.twitter.com/Pt4czYNSf1

— crypto.news (@cryptodotnews) September 27, 2026 The status changed before the original late-September expectation. The XRPL Foundation release notice calls version 3.4.1 an emergency update for security-sensitive issues. It adds fixBatchV1_2, asks servers to upgrade promptly and says the amendment was expected to enable on October 9 if supermajority support persists. That is a conditional expectation, not a fixed launch promise.

Batch coordinates actions inside one ledger close The XLS-0056 specification describes an outer transaction holding between two and eight inner transactions. Accounts involved approve the collection. A selected mode controls what happens when an inner action fails. The ledger processes the collection in one close, avoiding the gap between unrelated submissions that could leave one participant with only half a bargain.

Suppose a fund transfers a tokenized bond claim and receives a dollar token. Two ordinary transactions could be submitted separately. If the first succeeds and the second fails, the counterparties have an operational dispute and potential loss. With the all-or-nothing mode, both inner actions must succeed for the intended exchange to complete. That is the compelling institutional use case, assuming the token, payment instrument, counterparties and permissions are already in place.

Batch does not create a bond, verify its off-chain ownership or force a bank to redeem the payment token. It coordinates ledger actions. Legal settlement finality, transfer restrictions, custody and redemption still depend on the relevant instruments and institutions. The distinction matters because a technically atomic transfer is only one part of delivery versus payment.

JUST IN: XRP Ledger’s Batch feature passes, set for activation on September 29

The upgrade, which has secured 29 Yes votes, will allow up to 8 XRPL transactions to be bundled into one, enabling atomic asset swaps, bundled DEX trades, NFT-for-NFT exchanges and single-transaction… pic.twitter.com/7CH34N1Yat

— crypto.news (@cryptodotnews) September 15, 2026 The single-account tutorial shows the more straightforward case. Multiple actions from one account can be packaged in a specified mode. Multi-account transactions add signatures from the accounts whose balances or permissions are affected. The multi-account tutorial describes that coordinated signing process.

Four modes produce four different bargains ALLORNOTHING is the clean two-sided trade. Every required inner action must succeed or the intended group does not settle. ONLYONE tries alternatives and stops after the first success, such as orders at different tolerances. UNTILFAILURE processes a sequence up to a failure. INDEPENDENT allows actions in the same wrapper to succeed or fail independently. Calling all four modes atomic in the everyday sense would hide the possibility of partial completion.

The modes alter product design. A fund moving two assets against one payment needs to decide whether a single failed transfer should cancel the full package. A market maker submitting fallback offers might prefer ONLYONE. An issuer distributing multiple payouts might tolerate independent outcomes, but then its operations team has to reconcile which recipients were paid. The mode is a risk decision, not a formatting choice.

The eight-action cap is another real limit. A manager attempting to settle 1,000 investor transfers cannot wrap all 1,000 into one Batch under the current proposal. At the theoretical minimum of 125 eight-action packages, those groups would not themselves be atomic with each other. Fees, signatures, account sequence management and service capacity become practical constraints even before the off-chain business process is considered.

The earlier technical report noted the upgrade’s long development and audit history. That background is relevant to timing but should not be confused with a claim that every application built on top has been audited.

The outer success code is an accounting trap The specification says an outer Batch transaction can report tesSUCCESS even when inner transactions fail. Its outer result covers sequence and fee processing. To know whether a payment or delivery occurred, software must inspect inner transaction metadata and individual result codes. This is an unusually concrete integration hazard for any institution whose back office translates a generic success status into a booked asset movement.

Imagine a trade feed that reads only the outer result and credits a customer with a tokenized security. If the relevant inner transfer did not succeed, the feed and ledger diverge. The system needs to associate every inner action with its parent and its own result. The spec recommends using the ParentBatchID relationship in explorers and indexers. A desk should test failures in every mode, not only the happy path.

The mistake can survive ordinary controls because the outer transaction is real and has a transaction ID. A reconciliation system built for one transaction equaling one business action may pass its first check. The proper control links the business instruction to the mode, the complete signed package, every inner result and the eventual asset balances. That is work an asset manager must perform even if the network layer is correct.

JUST IN: Asset managers are preparing for XRP Ledger’s next payments upgrade

Batch V1.1 can bundle up to eight transactions into one operation, with RippleX saying commercial projects are already being built around the feature ahead of activation. pic.twitter.com/DmleX4GBiA

— crypto.news (@cryptodotnews) September 20, 2026 The arithmetic is modest but revealing. A maximum Batch containing eight inner transactions is one outer submission, yet it can require at least eight outcome checks, plus the outer fee and sequencing check. For 125 full packages representing 1,000 inner actions, the back office needs 1,000 action-level outcomes, not 125 green status lights.

The security fix changes the activation story The foundation’s September 25 notice says fixBatchV1_2 rejects inner transactions with the wrong wrapper and includes additional security and stability fixes. It withholds source code temporarily because of the security-sensitive nature of the change, promising publication and a retrospective later. That limits outsiders’ ability to inspect the exact patch before disclosure. It is a reason for precise attribution, not a reason to speculate about undisclosed exploitability.

The notice says servers below 3.4.1 would become amendment blocked if the fix enables while they have not upgraded. Validator votes and node upgrades therefore matter to production access. A quorum signaling support is not the same thing as every wallet, custodian, API provider and accounting tool being ready for Batch. The earlier XRPL node upgrade coverage illustrates the operational effect of an amendment block in a previous release.

There is also a history a reporter cannot omit. A February vulnerability disclosure describes a flaw in an earlier Batch design that could have skipped authorization checks for other signers when an unfunded signer appeared first. The amendment had not gone live. The security audit account examined how independent review caught problems before production use. The September patch concerns a separately described wrapper issue; neither incident proves the current design is unsafe, but both explain why deployment timing deserves scrutiny.

What institutions could gain, and what they still need Atomic delivery against payment is the strongest case. A manager could coordinate a token transfer with payment on the same ledger, limiting the temporary exposure created by sequential transfers. An issuer could bundle account setup, authorization and issuance steps where the protocol permits those transaction types. Trading firms could use alternative execution paths. These are capabilities, not evidence of live assets and trades.

Tokenized assets require issuers, transfer agents or other responsible entities, rules on eligible holders, custody procedures, and a payment instrument with acceptable redemption terms. A Batch can make the on-chain legs execute under a chosen rule. It cannot make a security legally valid in another jurisdiction, obtain customer consent for an unrelated action or guarantee an external cash leg at a commercial bank.

Ripple’s case deserves its strongest version. A ledger-level mechanism can reduce coordination work for developers and remove a real class of partial settlement failures. The XRPL feature overview described Batch alongside other institutional functionality, though each amendment follows its own process. If named managers later show live, repeated settlement of real tokenized assets with correctly reconciled inner results, the adoption claim will have hard evidence behind it.

The limit is equally clear. A company preparing a pilot is not an asset manager using Batch in production. No public preparation claim tells us volumes, fees saved, settlement disputes prevented or which institution assumes off-chain obligations. An announcement can be true and still be too early to support those larger conclusions.

The ledger’s vote is only the first readiness test The expected October 9 activation of fixBatchV1_2 depends on sustained validator support. Operators need to run compatible software. Wallets must show users all inner actions and the selected mode before collecting a signature, as the specification recommends. Indexers must expose parent and child results. Custodians need policy checks for multi-account signatures. Asset managers need reconciliation and legal documentation.

There is no single percentage showing all that readiness. Validator voting measures agreement to a protocol change. The production test is whether real users can prepare, sign, submit, inspect and recover from a failed Batch without mismatched records. The unanswered commercial question is which named institution will show a repeatable use case once the amendment and tooling are live.

What to watch Amendment status: Whether fixBatchV1_2 retains support and enables on the expected October 9 date. Server upgrades: The share of operators running 3.4.1 before the security amendment becomes mandatory. Disclosure: Publication of the withheld patch source and the promised retrospective. Inner outcomes: Wallet and indexer support for mode display, parent links and action-level results. Production evidence: A named asset manager reporting live Batch volume and its settlement controls. FAQ Is XRPL Batch live on mainnet now? The relevant amendments and their live status must be checked at publication. The September 25 release described a security fix expected to enable October 9 if validator support persisted.

How many transactions can a Batch contain? The published XLS-0056 specification sets a minimum of two and maximum of eight inner transactions in the current design.

Does Batch guarantee every inner action succeeds? Only the all-or-nothing mode is designed around the full group succeeding together. Other modes deliberately allow a different pattern of partial execution.

Can one asset manager sign for every counterparty? No. In a multi-account Batch, affected accounts must approve the signed collection according to the protocol’s signing rules.

Does tesSUCCESS mean the trade settled? Not by itself. The outer result can succeed while an inner action fails, so systems must inspect each inner result and balances.

Will Batch make tokenized securities legally settled? It can coordinate on-chain steps. Legal rights, redemption and any external payment leg still depend on the asset’s terms and applicable infrastructure.

What changed in version 3.4.1? The foundation described an emergency security release adding fixBatchV1_2, including rejection of inner transactions with the wrong wrapper.

Have asset managers demonstrated live use? Ripple has reported preparation, but the cited public account did not name a production manager with repeatable live Batch settlement. This is educational analysis, not investment advice.

Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Figures reflect regulatory filings and reporting available at the time of writing and change with each disclosure. Nothing here is a recommendation to buy, sell, or hold any security or asset. Always do your own research. Information is accurate as of September 29, 2026.

Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The XRP Ledger (XRPL) is preparing to launch major upgrades that will open up new commercial uses for the network. According to Vet, the community lead at the XRPL Foundation, two fundamental amendments — Batch and Permission Delegation — have reached the final stage of validator voting.

About 11 days remain before both are fully activated on mainnet.

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The upgrades are aimed directly at the corporate sector. They address key barriers that have prevented large financial institutions from safely using XRPL to automate payments and complex, structured transactions.

The XLS-56 feature eliminates the risk of funds becoming stuck in a commercial settlement if one party fails to meet its obligations. XLS-75, in turn, addresses strict banking security requirements by allowing organizations to distribute operational roles flexibly.

XRP Ledger's Vet highlights the 11-day countdown to major XRPL protocol amendments via XRPScan data. Source: @Vet_X0 / X.comThe upcoming upgrade centers on two automation tools:

Atomic batches (BatchV1_1 and fixBatchV1_2 amendments): Validator support currently stands at 85–94%, with activation expected on October 9, 2026. The feature allows multiple operations to be combined into a single, indivisible batch that executes on an "all or nothing" basis.Permission delegation (PermissionDelegationV1_1): The amendment has secured 82% support and entered its waiting period. Activation is scheduled for October 5, 2026. It allows organizations to delegate account permissions to third-party services or departments without revealing the primary private key.Both features are expected to support institutional-grade account management. Meanwhile, validators are also gathering votes for the related fixCleanup3_4_0 amendment, which is needed to stabilize AMM pools in the recent xrpld v3.4.0 software release.

A parallel development: Why one of XRPL's principal creators has returnedThe ecosystem's push into the corporate market is also accompanied by a return of technical expertise. Nik Bougalis, a key cryptographer and Ripple pioneer who left the project in 2022, has officially returned to work on the XRPL core.

In his high-level plan, he has already proposed a substantial overhaul of the ledger's low-level architecture. Moving the network to 64-bit components and eliminating raw pointers are intended to significantly improve the ledger's security ahead of potential institutional demand.

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Activating these features in the code creates a foundation; it does not bring an immediate influx of liquidity. The speed at which major fintech companies incorporate the tools into real products will determine whether this technological upgrade becomes a driver of long-term demand for the native coin, XRP.

Ripple’s stablecoin RLUSD has reached a new market capitalization high, with growth exceeding 86% since the beginning of the year. According to current data, the circulating supply of RLUSD has risen to approximately $2.49 billion. The stablecoin’s market capitalization was around $1.33 billion at the beginning of 2026. Thus, RLUSD has recorded growth of over 86% since the start of the year.

The market capitalization gap between RLUSD and PYUSD, issued by PayPal, is also rapidly closing. PYUSD currently has a market capitalization of approximately $2.73 billion, reducing the difference between RLUSD and PYUSD to around $248 million.

Data from the past week has revealed differing trends between the two stablecoins. While the supply of RLUSD increased by approximately $112 million, the supply of PYUSD decreased by approximately $61 million. PYUSD started 2026 with a supply of approximately $3.531 billion and peaked at $4.214 billion on March 5th. The stablecoin’s supply has declined by approximately 35 percent since that peak.

In terms of RLUSD distribution across networks, both XRP Ledger and Ethereum saw growth. Between September 21-28, the RLUSD supply on XRP Ledger increased from $1.036 billion to $1.099 billion, an increase of approximately $63 million. Similarly, the RLUSD supply on Ethereum rose from $1.343 billion to $1.39 billion during the same period, an increase of approximately $49 million.

Currently, approximately 44% of the total RLUSD supply is held on the XRP Ledger, while 56% is held on Ethereum.

While the total size of the global stablecoin market is approximately $306 billion, RLUSD’s market share remains relatively low. However, Ripple has recently accelerated its efforts to increase the use of RLUSD, particularly on the XRP Ledger.

*This is not investment advice.

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A viral clip from crypto influencer @strivex_ is making rounds again. It claims Ripple is targeting a $155 trillion global payments market.

It also suggests XRP could theoretically hit $15,000 if it replaces SWIFT. The post traces back to an earlier claim by @BANXRPLNEWS, which has been recirculating since at least June 2026. That $155T figure is real. But what it actually means for investors is a different story.

The $155T Claim Is Real, But It Is Not the Remittance Market Investors need to separate two very different numbers. Consumer remittances are roughly $685 billion a year. That is the market Ripple’s RLUSD stablecoin is targeting for retail cross-border transfers.

The $155 trillion figure, however, refers to global cross-border payments, the much larger SWIFT-linked corporate flow. These two markets are being mixed in the viral post.

🚨 RIPPLE IS TARGETING THE $155T REMITTANCE MARKET!

With ambitions to reshape global payments, $XRP could play a major role in the evolving financial system.

Follow @BANXRPLNEWS – they're giving away 100 XRP for every 2,000 followers. https://t.co/n0oKPKN2qR pic.twitter.com/2QrUkHGhps

— Ledger Man 🎩 (@strivex_) September 28, 2026

Ripple has been building quietly toward this vision. Last week, South Korea’s Jeonbuk Bank officially replaced multi-day SWIFT transfers with Ripple Payments for business customers. That is a live rail, not a projection.

Ripple CEO Brad Garlinghouse has pegged the official company opportunity at $120 trillion in corporate treasury payments, anchored by the GTreasury acquisition.

Meanwhile, Ripple Treasury’s client base already touches roughly $13 trillion in annual payment flows. That gap between the viral headline and the live business is where investors should focus.

The bigger tension is between XRP and RLUSD. As RLUSD’s market cap nears $2.5 billion, more settlement flows on the XRP Ledger are denominated in stablecoins, not XRP itself.

Ripple has already confirmed RLUSD targets a $13 trillion corporate treasury market.

That creates a demand question XRP investors cannot ignore: does volume growth translate into XRP demand, or does RLUSD absorb the flows?

What Is Actually Moving XRP Right Now Today’s buzz has a real calendar hook. Sibos 2026, the global banking conference where Ripple Treasury is presenting, opened in Miami this morning.

The timing is not coincidental. XRP advocates are using the conference narrative to revive the SWIFT-replacement story heading into a historically active week.

On the ground, there are legitimate proof points. JPMorgan, Ripple, and Ondo completed the first cross-border tokenized treasury settlement on the XRP Ledger.

Ripple also added XRP and RLUSD to Stripe and Tempo’s agentic payment rails. XRPL new-account creation spiked 320% above its average as XRP tagged $1.60 last week.

Derivatives traders are already leaning in. XRP futures open interest topped $4.1 billion, outpacing Hyperliquid and Zcash.

Call skew has turned crowded bullish. Still, 21Shares has flagged a utility-vs-holder-value gap, institutions can settle on the XRP Ledger without holding XRP. That risk is worth pricing in before chasing the $15,000 thumbnail.

The TAM is real. The rails are being built. But the question for XRP holders is whether they sit on the settlement asset or the plumbing no one sees.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

XRP is eyeing a busy October with key events and upgrades in store. At the earliest in October, specifically in the first week, the XRP Seoul event is scheduled for October 3, 2026, at the Grand Hyatt Seoul during Korea Blockchain Week.

Ripple executives, including its president Monica Long, RippleX SVP Markus Infanger, and major Korean financial institutions are set to take part in discussions around the future of digital finance.

According to Hussein Zangana (Vet), XRP Ledger Foundation director of community, the upcoming XRP Seoul event will feature sessions with Kyobo Securities, a major Korean securities broker, Woori Bank, one of Korea's top four banks, and Kakao Bank, the country's leading internet bank associated with the popular Kakao platform, with a focus on tokenization, payments on crypto rails, and DeFi.

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"Looking forward to XRP Seoul next week and the sessions with Korean securities broker Kyobo Securities, Woori Bank (top 4 bank in Korea), Kakao Bank (largest internet bank of the famous app Kakao here) and many others. All forward leaning in tokenization, payments on crypto rails and DeFi," Vet wrote.

Looking forward to XRP Seoul next week and the sessions with Korean security broker Kyobo Securities, Woori Bank (top 4 bank in Korea), Kakao Bank (largest internet bank of the famous app Kakao here) and many others.

All forward leaning in tokenization, payments on crypto rails… pic.twitter.com/fOopZp4OJ5

— Vet (@Vet_X0) September 27, 2026 Aside from Ripple President Monica Long and SVP Markus Infanger, the participant lineup for the event is extensive. This includes J.A. Akinyele, RippleX Head of Engineering; Christina Chan, Senior Director of Ecosystem Growth at Ripple; Tatsuya Kohrogi, Senior Ecosystem Growth Manager at Ripple; Wenny Cai, CEO of Anchored Finance; Nicholas Motz, co-founder of Soil; Nathaniel T. Bradley, Datavault AI CEO; Aniket Jindal, Founder of Biconomy; Jinnie Lee, APAC Sales Director at Ripple; Mansik Yoon, Team Leader at Jeonbuk Bank; John Lilic, CSO of Tria; Sunghwan Kim, Founder and CEO of Wellbianlabs; Asheesh Birla, Evernorth CEO; Min Lin, Managing Director of Ondo Finance; Heejin Shin, Executive Director of Kyobo Securities; Hugo Philion, Co-Founder of FlareNetworks; Jaehyuk Choi, TF Lead of Kbank; Bo Kim, CEO of Creder; Leo Lee, Manager of Kakao Bank; Seunghoon Han, Senior Manager of Woori Bank, among others.

XRP community eyes busy OctoberXRP Ledger is set for a busy October, with the Batch, fixBatchV1_2, and permissions delegation amendments set to launch in the coming month.

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Batch and its fix eye mainnet activation on October 9, while permissions delegation is expected to launch on October 8, 2026, provided they sustain above 80% support for the two-week activation window.

The Swell event is expected to be held October 27–29, 2026, a major event for the XRP and the Ripple ecosystem. 

Ripple [XRP] has been getting a lot of love from ETF investors lately. However, there’s two sides to every story, and traders are on the other end of the tale.

What gives?

Six months in the green for XRP ETFs Monthly net inflows have stayed green for half a year now, per SoSoValue. August was the biggest of the lot at $159.18 million.

September has added another $117.44 million so far. That brings total net assets to $1.77 billion.

Source: SoSoValue Now here’s the catch.

Source: CryptoQuant Over on the futures side, CryptoQuant’s 90-day taker CVD showed sell-dominance earlier in the month.

It’s been bleeding red ever since.

Source: CryptoQuant Funding rates have, for the most part, been positive. However, they fell massively into the deep red for a few times since late August. A look at the numbers will show dips as low as -0.018 in mid September.

While most traders still lean long, short bets keep popping up like weeds.

XRP active addresses rise, and so do reserves Traders might be split, but the XRP ledger itself has been bustling.

Active addresses rose to 29.9K, per CryptoQuant. That’s the highest in half a year, and a king’s leap from the 10.7K of mid-September. For most of June to August, the number moved between 12.5K and 17.5K.

Source: CryptoQuant But here’s the other POV.

Reserves on Binance have also been going up, now at 2.695 billion XRP. But what does that have to do with anything?

Source: CryptoQuant More XRP on exchanges means more coins to be sold. The network is awake, and there’s more supply on the sell side.

If you add the red CVD to that, holders are maybe ready to cash in on the bounce.

Where do we go from here? First things first, a key data point to watch, is whether ETFs stay green in the following months. If that sustains, that’s steady demand.

Next, the CVD. A change back to neutral or buy-dominant would mean futures traders are finally on board.

Finally, if Binance reserves keep rising while active addresses slow, sell pressure could win out.

Final Summary XRP ETFs have been in the green for half a year now. Futures CVD has turned sell-dominant and XRP ledger activity has increased.

The recently enacted GENIUS Act could drive new growth in RLUSD adoption and enhance usage of the XRP Ledger, according to cryptocurrency researcher SMQKE. The claim centers on legislative changes to stablecoin regulation in the United States and the resulting impact on both RLUSD and XRP transaction activity.

SMQKE connects GENIUS Act to RLUSD adoptionSMQKE released a document on social platform X outlining how the GENIUS Act may affect the position of RLUSD and XRP in the stablecoin market. The legislation establishes standards for stablecoin reserves, licensing, and interoperability, aiming to increase oversight for payment-focused stablecoins used in financial markets.

President Donald Trump signed the GENIUS Act into law on July 18, 2025. The US Treasury Department stated that the act creates a federal regulatory structure for stablecoin issuers operating within the country.

The researcher’s analysis suggests the act’s compliance requirements could bolster financial institutions’ trust in RLUSD, a stablecoin issued by Ripple. The document claims that with improved transparency, RLUSD could attract more adoption from banks and payment companies seeking regulated stablecoin options.

Ripple, a US-based blockchain company known for cross-border payments technology, currently issues RLUSD on both the XRP Ledger and Ethereum. Ripple has emphasized that each RLUSD token is fully backed by a reserve comprised of cash, cash equivalents, and other approved assets.

Mini dictionary: RLUSD, a stablecoin developed and issued by Ripple, maintains a fixed value of one US dollar and is supported by various reserves. RLUSD is available on the XRP Ledger, Ethereum, and potentially other networks, targeting use cases in payments and settlements.

“Yes, the GENIUS Act will amplify XRP’s use case. This is documented below.”

RLUSD transactions use XRP for feesThe document further links the expected growth in RLUSD adoption to demand for XRP within the XRP Ledger ecosystem. On XRPL, every transaction requires users to destroy a small amount of XRP as a network fee. The base transaction cost is currently set at 10 drops, but it can rise during periods of high congestion. Burned XRP is permanently removed from the overall supply, rather than distributed to validators or other parties.

Transaction TypeFee (in XRP)Fee RecipientStandard XRPL transaction10 drops minimumPermanently destroyedIncreased XRPL demandVariable, higher during congestionPermanently destroyedSMQKE argued that as more RLUSD transactions occur on the XRP Ledger, they could lead to additional XRP being burned as transaction fees. The researcher noted this effect would be most pronounced if RLUSD becomes widely used for cross-border payments or daily transactions.

However, a respondent identified as TipTopJester questioned the scale of this impact, pointing out that each RLUSD transaction only consumes a minor amount of XRP. The commenter acknowledged regulatory support from the GENIUS Act could foster RLUSD’s competitiveness but maintained that the magnitude of XRP burned relative to total circulating supply would be limited.

SMQKE’s analysis draws attention to regulatory clarity, stablecoin compliance, and the possible ripple effect on XRP transaction volumes, but the ultimate scale of these impacts remains uncertain.

The XRP and RLUSD distinctionIndustry observers continue to distinguish between XRP, the native asset of the XRP Ledger, and RLUSD, which is issued as a dollar-backed stablecoin for transactional use. Ripple documentation explains that while XRP enables decentralized value transfers and acts as the ledger’s core asset, RLUSD is designed for payments and settlements with one-to-one dollar parity.

SMQKE’s position highlights that any uptick in stablecoin adoption—particularly for RLUSD—resulting from regulatory reform could generate more XRP fee burns via transaction activity. While the researcher portrays potential technical and market synergies, they stop short of projecting any specific levels of increased XRP demand.

Current analyses reflect that additional regulatory clarity is generally viewed as supportive for both stablecoin adoption and related payment networks, but market participants await observable data to gauge the full scope of the GENIUS Act’s effects on the broader ecosystem.

XRP surged 7.7% on September 18, rallying from about $1.30 to $1.40 and briefly touching $1.41 after Bitwise Asset Management submitted a fresh filing connected to its XRP ETF with the Securities and Exchange Commission.

Despite widespread attention, the new paperwork did not mark the regulatory approval of a brand new exchange-traded fund. Bitwise, a well-known digital asset manager, provided a Post-Effective Amendment No. 2 for its already active Bitwise XRP ETF. The SEC’s public filing described the update as a preliminary prospectus dated September 18 and made clear the product’s documents are still “subject to completion.”

A crucial detail noted by market observers is that Bitwise’s filing pertained to an existing product, rather than an application for the first XRP ETF by the company. Some sources emphasized that headlines announcing Bitwise was “filing for an XRP ETF” failed to accurately capture the true scope of the event.

XRP’s gain on September 18 followed Bitwise’s update to a current XRP ETF, not a completely new application, according to details from the official SEC documents and historical fund records.

Details about the Bitwise XRP ETFAccording to the filing, the Bitwise XRP ETF trades on the NYSE Arca under the ticker XRP. The fund’s stated goal is to provide investors with exposure to XRP held by the trust. Accounting consents within the document reference financial statements dating back to November 19, 2025, confirming that the fund was already operating before the recent amendment.

Bitwise Asset Management is a San Francisco-based firm specializing in crypto index funds and exchange-traded products, aiming to deliver digital asset exposure to institutional and retail investors.

Mini dictionary: NYSE Arca, a US-based electronic securities exchange known for listing stocks, options, and a wide range of exchange-traded funds (ETFs).

XRP price movement and ETF inflowsMarket history shows XRP opened the day near $1.30, hit an intraday high around $1.41, and closed at about $1.40, recording a 7.69% gain. This rally came in the middle of a volatile period for the asset. Three days prior, XRP had slipped to $1.28 after trading above $1.42, before mounting a recovery that gained speed on September 18. By September 21, XRP reached approximately $1.53.

Meanwhile, US XRP ETF products had already gathered about $1.7 billion in historical net inflows as of September 17, despite XRP trading well below its all-time peak. Research group Coinpaper recently highlighted this divergence between robust ETF demand and XRP’s subdued price levels.

DateXRP OpenXRP HighXRP CloseDaily ChangeSept. 17$1.28$1.41$1.30–Sept. 18$1.30$1.41$1.40+7.69%Sept. 21N/A$1.53$1.53N/A

Key Takeaways XRP climbed to a range between $1.54 and $1.58, registering approximately 10% gains across the week as Bitcoin maintained levels above $84,000 and Ethereum hovered around $2,680. Following the Senate’s failure to pass the CLARITY Act, SEC staff released non-binding guidance addressing token buybacks, staking mechanisms, and protocol upgrades. Spot XRP exchange-traded funds in the United States attracted $22.65 million in net capital on September 25, with Bitwise’s offering capturing $18.39 million. Total net inflows into XRP ETF products have accumulated to $1.79 billion, while aggregate net assets stand at $1.77 billion. Technical resistance is positioned at $1.60 for XRP, while downside support remains intact around the $1.50 level based on four-hour chart analysis. XRP maintained trading activity in the $1.56 to $1.58 zone throughout the week, marking an approximate 10% increase compared to levels observed seven days prior. This upward movement aligned with a wider cryptocurrency market rebound, as Bitcoin sustained positions above the $84,000 threshold and Ethereum exchanged hands near $2,680.

XRP Price The price advance materialized following developments on the regulatory front. Earlier this month, the Senate declined to move forward with the CLARITY Act, resulting in the postponement of proposed cryptocurrency market regulations.

SEC staff released informal guidance on September 25 addressing topics including token repurchase programs, staking derivatives, network maintenance operations, and marketing communications. This guidance represents staff opinion without formal legal authority and does not provide direct classification of XRP.

Breakdown of SEC Staff Position According to the staff statement, repurchase programs involving tokens that are not securities on operational networks do not inherently indicate promised managerial contributions. Additionally, certain staking derivatives may be categorized as digital commodities instead of securities, contingent upon their issuance structure.

Standard protocol improvements and promotion of current network functionality may not fall within investment contract frameworks under this new staff position. Market analyst Crypto Rover highlighted the development on social platforms, noting that liquid staking instruments are receiving treatment as digital commodities rather than securities, and that token buybacks on operational protocols are not being interpreted as management-driven activities.

Prediction platform Kalshi positioned its September price projection for XRP at $1.70, representing a $0.10 increase from its previous estimate. The platform maintains an additional contract monitoring whether XRP surpasses $1.70 before September 30.

Exchange-Traded Fund Capital Flows According to data from SoSoValue, United States spot XRP exchange-traded funds registered $22.65 million in net capital inflows on September 25. Bitwise’s product dominated with $18.39 million, comprising roughly 81% of the day’s aggregate inflows.

Franklin Templeton’s XRPZ product contributed an additional $4.26 million. The remaining three listed investment vehicles reported zero net activity for that trading session.

These capital additions elevated total cumulative net inflows to $1.79 billion. Aggregate net assets across all products reached $1.77 billion, representing approximately 1.80% of XRP’s overall market capitalization.

Transaction volume across the five investment products totaled $57.75 million, with Bitwise responsible for $37.07 million of that figure. The previous day, September 24, witnessed $14.89 million in combined inflows following $23.17 million recorded on September 23.

As of September 23, Bitwise’s product held 401.42 million XRP tokens, reflecting an increase of 14.18 million tokens over a two-day period. According to the fund’s official documentation, this position carried a value of approximately $613.89 million.

Market analyst Ali Charts highlighted accumulation patterns among major holders, observing that whale addresses acquired over 470 million XRP across five days—approximately $724 million in value—while a reverse head-and-shoulders formation continues developing on the daily price chart.

XRP briefly reached $1.60 during the week before retreating to $1.5535 by 08:41 UTC on Saturday. Four-hour chart analysis reveals resistance positioned at $1.60, a threshold that has prevented additional upward movement across several recent attempts.

A confirmed close above the $1.60 level could establish momentum toward $1.65 initially, followed by $1.70. Support remains established near $1.50, a price point that provided stability following the September 23 trading session.

A break below $1.50 could potentially expose the $1.45 zone. The four-hour Relative Strength Index currently registers at 52, marginally above the neutral 50 threshold, while the MACD indicator remains below its signal line, suggesting diminishing near-term momentum.

PANews reported on September 26, citing CoinDesk, that the Bitget hacker has moved roughly $83 million worth of XRP from three stolen XRP-holding addresses. Of the approximately 103 million XRP originally stolen, about $75 million remains spread across five initial receiving addresses. On-chain data shows that two of the addresses, which each originally held 20 million XRP, have been nearly emptied, with only about 23 and 55 XRP respectively remaining as of 12:41 UTC on Saturday, while the third address's balance has dropped to roughly 5.8 million XRP.

Because XRP is the native asset of the XRP Ledger, Ripple cannot directly freeze the stolen XRP the way it can freeze issuer tokens such as USDC and USDT. Recovering the funds depends in part on where the hacker moves them next; if they enter an exchange, the exchange can restrict the relevant accounts and withdrawals, but it cannot directly freeze XRP held in the hacker's own wallets. Around 54 million XRP has now left the initial five addresses, and the funds are being further dispersed across more wallets, though it is not yet possible to determine how much of it has been sold.

Earlier, Circle and Tether froze roughly $320,000 worth of USDC and USDT linked to the attack. On Friday, Bitget raised its estimate of the attack's losses to about $387.5 million, saying the additional figure includes Zcash and TRON transfers that were previously omitted from its tally, rather than a second attack. Bitget also said its protection fund will cover the losses and that user balances will not be affected, with withdrawals of BTC, ETH, USDT and other tokens expected to resume on September 28, September 29, September 30 and October 2, respectively.

The five spot $XRP exchange-traded funds tracked by @BSCNews have posted multi-million dollar net inflows for three consecutive days, bringing the week's total gains to $53 million. Total assets under management across the funds have climbed to around $1.7 billion, representing approximately 1.8% of XRP's circulating supply.

A Rapid Build in Institutional Capital The milestone sits within a broader story of accelerating institutional interest in regulated XRP products.

The current week's $53 million in net inflows continues a pattern of steady institutional demand.

Persistence Through Volatility

The broader regulatory backdrop has helped.

With AUM already at $1.7 billion and weekly inflows continuing to build, the XRP ETF category is proving it has staying power well beyond its initial launch momentum.

Sources:
Ripple: XRP ETFs, The Institutional Era Has Begun
Phemex: XRP Spot ETFs See $18M Daily Inflows Led by Bitwise
Yahoo Finance: XRP ETFs Hit a New 2026 Record at $1.6 Billion

Ripple has introduced the XRPL AI Starter Kit, aiming to facilitate payments between autonomous software agents using x402 payment protocols. This solution allows transactions to be conducted in either XRP, Ripple’s digital asset, or RLUSD, its new stablecoin pegged to the US dollar. The move addresses growing demand for seamless, automated financial interactions as machine-to-machine payments evolve into practical tools beyond initial trials.

Stablecoin RLUSD offers fixed-price certainty for AI agentsAI agents are increasingly making frequent, small purchases, such as spending $0.10 per inference thousands of times each day. For these microtransactions, stable pricing is essential to both buyers and sellers. RLUSD, designed to maintain a one-to-one peg with the US dollar and backed by cash reserves, offers the predictability needed for invoicing, subscriptions, and API payments.

Ripple maintains that RLUSD’s backing by cash and equivalents ensures price stability, allowing AI agents and developers to transact without worrying about value fluctuations typically associated with cryptocurrencies like XRP.

The XRPL documentation demonstrates this distinction, highlighting XRP as the simplest native on-chain payment method, while RLUSD is used for transactions requiring a dollar-denominated value. Both assets settle over XRPL, but serve different transactional needs.

Recent documentation distinguishes XRP payments as the straightforward native method on XRPL, whereas RLUSD is labeled for dollar-based transactions. Both benefit from deterministic settlement on the same network.

Growth in machine-to-machine commerce through AI payments could drive increased XRPL activity. Ripple emphasizes that RLUSD enables these transactions without exposing users to the risk of XRP price volatility.

XRP’s role as XRPL’s native asset remains significantWhile RLUSD meets stable-value needs, XRP’s utility within XRPL is not diminished. XRP is the protocol’s native asset, streamlining direct value transfers across the ledger. RLUSD, in contrast, is an issued token representing a stable digital dollar.

One key feature of XRPL is its support for cross-currency transactions. This allows an agent to send value in XRP, with the recipient receiving RLUSD—or vice versa—utilizing the network’s built-in exchange functions.

This flexibility enables two autonomous agents to transact without having to agree on holding the same asset. For example, a service provider preferring RLUSD can still receive payments from clients holding only XRP. XRPL documentation highlights direct XRP payments as the quickest and most straightforward settlement path for such transactions.

The infrastructure supporting machine payments is expanding. The community-led XRPL AI Hub has indexed more than 7.25 million agent-payment transactions, and records average daily activity of roughly 181,000 payments. These figures reflect organic engagement with the emerging agent-payment ecosystem and signal increasing relevance for both assets in automated commerce.

Mini dictionary: XRPL AI Hub, a community-driven platform tracking and analyzing autonomous agent payments and activity on the XRP Ledger (XRPL), offers real-time insights into trends in automated digital transactions.

AssetTypeMain Use CaseSettlement NetworkValue PegXRPNative digital assetDirect on-chain payments, value transferXRPLMarket-drivenRLUSDStablecoin (issued)Stable, dollar-denominated paymentsXRPLPegged to $1

XRP continues to experience a divergence between market price performance and institutional product inflows, with the latest data highlighting significant increased investment in XRP exchange-traded funds. Despite a recent price decline, interest from institutional investors remains steady, further spotlighting XRP’s evolving position in the digital asset market.

Institutional inflows rise despite XRP price weaknessData from crypto market analyst X Finance Bull shows that spot XRP ETFs have recorded $61.87 million in net inflows in September. Total cumulative inflows to date have reached $1.73 billion. This robust investment activity persists even as the value of XRP faces increased selling pressure and price corrections.

Investor demand for XRP-backed products has continued regardless of weak spot prices. While ETF inflows often reflect positive sentiment from institutional players, they do not always correspond with immediate price recoveries.

The current gap between strong ETF inflows and XRP’s falling spot price has drawn the attention of analysts and traders alike. At present, XRP is trading at $1.50, with a 24-hour trading volume of $7.05 billion and a market capitalization standing at $94.53 billion. Over the last 24 hours, XRP’s price has declined by 7.32%.

MetricValueCurrent Price$1.5024h Volume$7.05 billionMarket Cap$94.53 billionSeptember ETF Inflow$61.87 millionTotal ETF Inflow$1.73 billion24h Price Change-7.32%Technical analysis identifies key resistance and supportCrypto analyst CRYPTOWZRD recently noted that XRP closed below a major resistance at $1.5300, indicating a bearish short-term outlook. According to CRYPTOWZRD, reclaiming this resistance could help XRP regain momentum, but continued failure to break above $1.5300 may lead to heightened volatility.

On the support side, CRYPTOWZRD identified $1.4400 as an important level. Should XRP maintain this support, it could begin to stabilize; however, dropping below $1.4400 might trigger further selling pressure.

X Finance Bull emphasized that increased ETF inflows are still visible even as technical indicators remain negative for spot prices. CRYPTOWZRD highlighted that the $1.5300 resistance and $1.4400 support are crucial thresholds for XRP’s upcoming price action.

At the current price of $1.50, XRP remains between these two technical levels, with traders closely monitoring for a potential breakout or breakdown.

CFTC advances crypto regulation initiativesIn the regulatory arena, Michael Selig, chairman of the Commodity Futures Trading Commission (CFTC), stated that the agency is using its existing authority to establish a comprehensive regulatory framework for crypto assets in the United States. Selig underscored the CFTC’s commitment to shaping new rules for the digital asset industry, following calls from the White House for clearer guidelines.

The CFTC’s latest initiatives could have wide implications for crypto exchanges, financial products, and the broader digital asset ecosystem. Regulatory clarity remains significant for the XRP market, particularly given growing institutional participation through spot ETFs.

Ripple’s XRP, launched in 2012, is a digital asset designed for fast cross-border payments and is at the center of both market innovation and ongoing legal scrutiny.

Mini dictionary: Commodity Futures Trading Commission (CFTC), a US government agency responsible for regulating derivatives markets, including futures and options, and increasingly focusing on digital assets amid evolving market structures.

With contrasting trends between inflows and price, market participants are watching for further moves in both the regulatory space and spot markets.

Photo: Arturo Añez. / Pexels

Bitwise and Franklin Templeton ETF clients have acquired $18.04 million worth of XRP, according to WhaleInsider. This purchase adds to the growing interest in XRP ETFs, with Bitwise clients contributing $11.54 million and Franklin clients adding $6.50 million. This development is part of a broader trend of capital inflow into regulated XRP exposure, indicating sustained institutional interest in the cryptocurrency. The total net assets in U.S. spot XRP ETFs have recently reached approximately $1.65 billion, with cumulative inflows hitting around $1.75 billion.

Key Takeaways Recent purchases by Bitwise and Franklin ETF clients suggest increased institutional interest in XRP. The acquisition of $18.04 million worth of XRP is consistent with continued capital rotation into regulated ETF vehicles. Market pricing implies that participants see this development as supportive of XRP’s potential to reach new highs. What to Watch Market participants will closely monitor any further significant inflows into XRP ETFs, which could indicate sustained institutional interest and bolster confidence in XRP’s future performance. Additionally, developments such as new XRP ETF approvals or major announcements from Ripple could further impact market sentiment. Conversely, potential regulatory actions or significant outflows from XRP ETFs may suggest challenges to the cryptocurrency’s upward trajectory.

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Contract Odds Δ since publish Volume 24h September 30, 2026 0.4% 0.0¢ — View market → December 31, 2026 7.2% 0.0¢ — View market → Updated 4min ago