Track market-moving stories before they get noisy

Bitget disclosed a security breach affecting approximately $351.6 million on September 24, 2026.

A subsequent breakdown from Lookonchain identified 102.93 million XRP worth $157.48 million as the largest component of the stolen assets.

CEO Gracy Chen said Bitget detected unauthorized transfers at 18:31 UTC and immediately activated its emergency response protocols. The exchange temporarily suspended withdrawals pending a security review.

XRP Leads the Stolen Asset Breakdown Lookonchain’s asset breakdown listed nine cryptocurrencies and tokens, including XRP, ETH, stablecoins, and tokenized gold:

Asset Amount Reported value XRP 102,926,478 $157,477,511 ETH 31,890 $85,751,065 USDT 34,751,168 $34,751,168 USDC 21,056,725 $21,056,725 USDT0 19,668,852 $19,668,852 XAUt 3,000 $12,820,376 BNB 12,719 $9,883,021 AVAX 821,012 $8,382,532 TRX 20,593,377 $7,069,706 Total — $356,860,956 Source: Lookonchain’s asset breakdown.

The itemized total is approximately $5.26 million higher than Bitget’s initial $351.6 million estimate. The initial security notice and asset breakdown did not explain the difference. XRP represents approximately 44.1% of the itemized total.

Attacker Converts Funds Into 67,982 ETH Lookonchain reported that the attacker had swapped most of the stolen assets on Ethereum-compatible networks into 67,982 ETH, valued at approximately $183 million. The conversion figure concerns assets on those networks, rather than establishing that the stolen XRP was exchanged for ETH.

Arkham’s portfolio snapshot grouped 22 addresses under its “Bitget Hacker” label, with combined holdings valued at approximately $188.93 million. Alongside the ETH balance, it listed roughly 5,897 BNB worth $4.58 million and 495.625 wrapped ETH worth $1.33 million. Those figures describe tracked holdings at the snapshot, not an additional loss on top of the original theft.

Bitget Says Protection Fund Covers the Loss In its initial notice, Bitget said the affected amount fell within the coverage of its User Protection Fund, which it valued at more than $464 million.

About the Bitget Protection Fund 🛡️

The Bitget Protection Fund exists for moments like this. It holds 5,500 BTC, approximately $464M at current prices.

All fund wallet addresses are public and can be verified on-chain by anyone, at any time. The fund is designated to protect…

— Bitget (@bitget) September 25, 2026

Chen said customer balances remained protected and deposits and trading continued operating while withdrawals were paused.

The exchange also said it had identified and flagged abnormal transfer addresses, notified law enforcement, and engaged blockchain security firms. It committed to publishing a full incident report, including the cause and corrective measures, within 24 hours.

Doppler Finance, a platform offering yield products for XRP holders, has announced that its XDP token will go live on September 28, 2026.

The project disclosed the date in an announcement on X, stating: “September 28, 2026. $XDP goes live.” It described the token as built for the capital markets of the tokenized era.

September 28, 2026.$XDP goes live.

Built for the capital markets of the tokenized era. pic.twitter.com/1QvqAHDSUr

— Doppler Finance (@doppler_fi) September 24, 2026

XDP Utility and Token Distribution Doppler formally introduced XDP on August 26. According to the project, users will be able to stake the token to become eligible for selected benefits, potentially including advanced vault strategies, priority access to new products and ecosystem campaigns.

Broader governance remains subject to implementation. Planned decision-making areas include protocol parameters, treasury initiatives, and incentive budgets. A separate Safety Module is intended for a future phase, allowing eligible participants to commit staked XDP to coverage pools while accepting defined risks in exchange for potential incentives.

According to Doppler Finance, XDP has a fixed total supply of 10 billion tokens. Of this amount, 43%—or 4.3 billion XDP—is allocated to ecosystem development and incentives, while 1%, or 100 million XDP, is reserved for the Genesis Airdrop.

Doppler finace token supply and distribution The project’s airdrop announcement states that eligible recipients’ allocations will be fully unlocked at the token generation event. Eligibility covers qualifying participants from Doppler Points Seasons 1 and 2, alongside other activities meeting the program’s criteria.

XRP Ledger and Base Deployment Plans Doppler outlined its cross-chain token plans in July, saying XDP would be deployed across both Base and the XRP Ledger. However, it specified that governance would initially launch on Base before expanding to the XRP Ledger ecosystem. Eligible airdrop participants were consequently required to register a Base wallet address.

That distinction means the announced token launch should not be read as confirmation that every planned XRP Ledger integration or governance feature will be available immediately. Doppler’s published roadmap separates initial token utility from subsequent governance and safety functions.

The Genesis Airdrop registration window has already closed. Doppler set the deadline for July 30 at 12:00 p.m. UTC and subsequently confirmed that registration had ended. Its program rules also state that submitting a wallet address does not, by itself, guarantee an allocation.

XRP Yield Products Anchor Doppler’s Expansion Doppler’s existing XRP Vault accepts deposits directly from the XRP Ledger and offers returns denominated in XRP. Its documentation states that the vault currently generates yield through strategies involving institutional custody and selected centralized platforms, rather than on-chain yield strategies. The project also identifies custody, counterparty, and market risks, including potential losses.

The XDP launch announcement follows two expansion initiatives disclosed in July.

On July 13, Doppler announced a strategic partnership with SBI Digital Finance to develop institutional XRP finance in Japan. The companies outlined cooperation on XRP and digital-asset infrastructure, institutional products, and tokenized financial services.

On July 29, Doppler announced plans to extend its infrastructure to Base, initially focusing on Coinbase Wrapped XRP, or cbXRP. The project described that expansion as a phased rollout, with additional tokenized assets and product details to follow.

Ripple’s XRP Ledger has two big upgrades in motion!

One is almost live. The other still needs votes. Here’s what you need to know.

PermissionDelegationV1_1 to go live on October 5? PermissionDelegationV1_1 started a 14-day activation countdown on September 21. About 29 of the 35 trusted validators are backing it.

If it gets 80% support or higher, it will go live on October 5, according to the live amendment dashboard.

But if it drops below 28 validators, then the whole situation changes.

Source: XRPL Dashboard But what is it about? Splitting authority by job; the same way banks already separate payments from compliance. A stablecoin issuer could let an online compliance system approve token holders while its master keys stay offline. An operations account could send payments, but it could not change keys or grant access to anyone else.

Each delegate gets up to 10 permissions, and this can be edited or revoked anytime.

This is the second time it is being tried.

The first version checked permissions before signatures, but some failed transactions still charged fees. An attacker could have spammed high-fee submissions, and this will allow them to drain someone’s XRP. A community tester caught it on September 15, and this led to validators rejecting it, and because of this, it did not go live.

The fix for this was to ship in xrpld 3.3.0, and this verifies signatures before any fee is charged.

More XRP Ledger updates… XLS-65 and XLS-66 still need over 80% validator support for two straight weeks.

XLS-65 brings Single Asset Vaults, which allow users to pool one asset and get shares in return for it. XLS-66 uses those vaults for fixed-term loans. The underwriting process happens off-chain, while loan creation, repayments, and defaults will be on-chain.

Source: X There are no automatic liquidations, which makes it a better fit for business loans and working capital. The LendingProtocolV1_1 design also includes several other features:

Closed-ended vaults with fixed subscription, investment, and redemption windows. Cash-basis accounting, meaning interest counts only once it’s actually paid. Optional first-loss capital from brokers to absorb part of a default. Judging borrower risk will be left to outside underwriters and the market.

Final Summary The XRP Ledger’s PermissionDelegationV1_1 could activate on October 5. XLS-65 and XLS-66 are pending validator approval.

In major XRP news today, Binance crypto exchange extended its support for the coin and Ripple’s RLUSD stablecoin on Thursday. The world’s largest crypto exchange will airdrop XRP coins to RLUSD holders, significantly boosting RLUSD market cap further and strengthening ties between companies.

Binance Announces XRP Rewards for All RLUSD Holders Binance, the crypto exchange founded by CZ, is launching a four-week airdrop campaign starting September 25 that will distribute $800,000 worth of XRP to users who hold Ripple USD (RLUSD).

Compared with the earlier XRP rewards launch, the exchange will now allow all users across Spot, Funding, Earn, and Margin accounts to earn XRP payouts every Friday until October 23. Users will get additional rewards for growing RLUSD holdings or parking funds in RLUSD Simple Earn.

However, Binance announced a 60% haircut for RLUSD acquired through borrowing other stablecoins in Margin. The exchange will account for liabilities in Margin Accounts from other stablecoins, including USDT, USDC, U, USD1, and FDUSD.

Eligibility and How Rewards Are Calculated Users become eligible by holding a RLUSD stablecoin balance of at least 0.01 in the above-mentioned accounts. Snapshots are taken hourly, with the lowest daily balance becoming that day’s qualifying balance. Weekly XRP rewards use a 7-day average of the qualifying balance multiplied by an effective APR that Binance will publish each Friday.

“Sub-account balances are aggregated at the Master Account level for calculation, and rewards are distributed only to the Master Account. For Broker accounts, the rewards will be distributed to virtual sub-accounts,” stated Binance.

There is no individual cap and each user’s share depends on their qualifying balance relative to the whole pool. Restricted accounts and users in listed jurisdictions, including the US, UK, EU countries, Canada, and others, are excluded.

Binance Pushing RLUSD Market Cap and XRP Price Higher RLUSD stablecoin’s market cap has surged from $1.51 billion since Binance launched the XRP rewards campaign to almost $2.45 billion. RLUSD market cap is $2.37 billion today.

In recent news, Ripple integrated XRP and RLUSD stablecoin support for AI agent payments on Stripe and Tempo’s Machine Payments Protocol.

Meanwhile, XRP pared earlier gains and fell 6% ahead of monthly crypto options expiry. Price is currently trading at $1.51 after dropping from the 24-hour high of $1.64. Trading volume has also fallen 18% over the past 24 hours.

XRP Futures Open Interest. Source: Coinglass CoinGlass data showed buying activity in the derivatives market in the last few hours. The total XRP futures open interest fell nearly 9% to $3.60 billion in the last 24 hours. However, the 4-hour XRP futures OI climbed 1.26%, with 1.51% on CME and 1.07% on Binance.

As CoinGape reported, XRP surpassed Hyperliquid and Zcash in futures open interest amid massive buying on derivatives exchanges CME and Binance. Analysts have predicted a massive upcoming XRP price rally.

Traders looking to take advantage of these market swings can evaluate the features and fee structures of the best crypto futures trading platforms.

XRP price pulled back to about $1.51 on Sep. 23 after briefly rising above $1.65, leaving $1.60 as the first price level to reclaim while the XRP Ledger’s native lending proposals remain in validator voting.

Summary

XRP price reached $1.6581 during the daily session before retreating to about $1.51. XLS-65 and XLS-66 would add pooled vaults and fixed-term lending directly to the XRP Ledger. Neither lending amendment has activated on mainnet; each needs sustained validator support. XRP remained above its 20-day moving average near $1.40, though money flow was negative. XRPL Commons describes the proposed system as a way to bring pooled lending onto the XRP Ledger without deploying separate smart contracts. The plan depends on two amendments: XLS-65 would create Single Asset Vaults, while XLS-66 would let loan brokers use funds in those vaults for fixed-term credit. Both remain subject to validator approval.

XRP Ledger lending still needs validator approval A Single Asset Vault would hold one type of asset, such as XRP, RLUSD, or another supported token. Depositors would receive shares representing their portion of the vault. Loan brokers could then arrange loans using the pooled funds, with the ledger recording terms, payments, and defaults.

The proposed system would leave borrower checks and lending decisions to the firms operating the loans. It also allows a broker to provide first-loss capital, which could absorb part of a default. Neither feature removes the risk that a borrower fails to repay or that depositors lose money.

A further amendment, LendingProtocolV1_1, would add vaults with set periods for deposits, lending and withdrawals. It would also count interest as income only when a borrower pays it. As crypto.news reported on the XRP Ledger’s 3.4.0 software release, adding those rules to server software did not activate them on mainnet.

The approval process matters more than the software release for timing. XRP Ledger amendments need support from more than 80% of trusted validators for two consecutive weeks before activation. XLS-65 and XLS-66 have yet to complete that process, so native lending has no confirmed mainnet start date.

Would lending create demand for XRP? A lending launch would give developers and financial firms another reason to use the XRP Ledger, but the size of any effect on XRP would depend on which assets they lend. An XRP-funded vault would use XRP as its lending asset. A vault funded with RLUSD or another issued token would use that asset for its loans, while XRP would retain its role in network fees and account reserves.

That distinction is relevant to the planned RLUSD credit product previously covered by crypto.news. The product was being tested for working-capital loans to fintech and payment companies, with RLUSD rather than XRP serving as the credit asset. Its development shows a possible use for the lending rules, but it does not establish how much XRP borrowers or lenders would need to buy.

For U.S. holders watching the proposal, validator approval and actual use of the lending system are separate milestones. A vote could make the feature available; subsequent vault deposits and loans would show whether firms adopt it and whether XRP itself becomes a material lending asset.

XRP price faces another test near $1.60 XRP’s daily trading range shows why $1.60 remains the immediate test. The token opened near $1.57, reached $1.6581, and fell as low as $1.5070 before trading around $1.51 in the Sep. 23 chart snapshot. A move back above $1.60 would put the day’s high near $1.66 in view. The previous September spike near $1.70 marks the next visible area above it.

XRP price daily chart — Sep. 23 | Source: crypto.news On the downside, the 20-day simple moving average near $1.40 sits below the current price. The chart also shows moving averages clustered around $1.28–$1.29. A loss of $1.40 would weaken the recent rebound and bring that lower area back into focus.

The 20-day Chaikin Money Flow reading stood at −0.09, indicating that buying pressure had not strengthened alongside the latest rise. XRP can still retest resistance, but the intraday retreat and negative money-flow reading leave the $1.60 break unconfirmed. The validator vote offers a development to watch; the chart has yet to show that it will carry XRP through resistance.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

The D’CENT app wallet drain has continued into its seventh day, with another XRP community member losing more than $100,000 in XRP and XLM. 

The most recent case follows an earlier report that confirmed the attackers had initially drained 2 million XRP during the Sept. 15 event, with further investigation now uncovering more victims.

The latest victim lost funds on both the Stellar blockchain and the XRP Ledger (XRPL). 

On Stellar, the victim’s address, GDTO…E356, was triggered to create the account GAVT…37GU at 03:38 UTC on Sept. 23 and send 17,244 XLM, worth more than $3,600, to it. Notably, the attackers controlled the newly created account.

About four hours after receiving the XLM, the hackers moved the tokens to Changelly. However, the Stellar transaction made up only a small part of the victim’s total loss, as most of the stolen funds came from his XRP holdings.

More Than 75,000 XRP Drained On the XRPL, the victim’s XRP account, rU6m…Ppcc, was triggered to create the attacker-controlled account rLbQ…SiPc at 04:36 UTC on Sept. 23. The victim’s account then sent 72,521 XRP, worth more than $117,000, to the hacker-controlled wallet.

Around 30 minutes later, the attackers took another 2,488 XRP, worth about $4,000, leaving the victim’s wallet empty. The attackers moved the roughly 75,000 XRP to two different wallets about five hours after receiving the funds.

The stolen XRP later moved through several transactions, with some of the funds eventually reaching Binance. As the latest attack happened only hours before this report, the transactions show that the attackers have continued to actively target and drain wallets.

Attack Began With 1,682 XRPL Wallets The broader drain campaign started on Sept. 15, 2026, when attackers emptied 1,682 XRP Ledger wallets between 15:35 and 18:55 UTC. The stolen funds went to seven addresses and marked the first wave of six identified in the campaign.

By the evening of Sept. 20, the same operator had continued the attack using the same script and the same by-hand tool. By then, the attackers had emptied 6,678 wallets and taken a total of 11.7 million XRP.

The attackers also deleted 5,001 accounts, most of which had already been emptied. They recovered the reserve held by each deleted account and later swapped 5.6 million XRP for Ethereum. 

D’CENT has responded by telling users of its app wallets to move all their assets out of the wallets. The latest victim’s losses confirm that the campaign has continued well beyond its initial activity on Sept. 15.

Table of contents

Quick Take 1. XRP trades at $1.5358, up 4.40% on the day and 11.07% on the week, roughly 54% above the $1.00 level this site covered on August 11 as the only support its buyers had defended all year.

2. Analyst Egrag Crypto identifies $1.49 to $1.54 as the decisive resistance band, with specific levels at $1.4923, $1.5114 and $1.5436, meaning price is inside the zone that decides the next move.

3. The structural headwind is unchanged: Ripple releases 1 billion XRP from escrow monthly and re-escrows 600 to 800 million, putting 200 to 400 million into circulation against ETF absorption of roughly 109 million.

XRP has recovered more than half its value since August. It trades at $1.5358, up 4.40% over 24 hours and 11.07% on the week, with the broader market also higher and 60 of the QC 100 constituents advancing.

Live price data via CoinGecko.

Did the $1 level hold? Yes, and it was the level this site said would decide everything.

On August 11 we published an article with XRP sitting at exactly $1.00, noting it was the single level buyers had successfully defended all year while everything above it had broken, including the $1.11 line we mapped on July 7 and watched fail the next day. The argument then was that when a market has one line left that has never failed, the line stops being support and becomes a referendum.

The referendum went to the buyers. XRP is now roughly 54% above that price and 38% above the $1.11 level that broke in July.

Two things from that article deserve revisiting because they were caveats rather than calls. We flagged that XRP had closed August red four years running, its longest active monthly losing streak, and attributed the midterm-year pattern to analyst ChartNerd while stating plainly that three observations is an anecdote with a spreadsheet rather than a data set. August 2026 broke the streak. The seasonality caveat was correct to include and correct to doubt.

Why is XRP rising? ETF demand that finally reached scale, corporate treasuries, and a market-wide rally.

US spot XRP ETFs recorded $110.49 million in net inflows in the week ending August 28, crossing $100 million weekly for the first time since the week ending December 5, 2025, with roughly $150 million across August and about $170 million over eleven days. Daily flow tables are published at Farside Investors and SoSoValue.

Composition matters here. Retail accounts for close to 84% of XRP ETF inflows, meaning the institutional capital that would produce far larger numbers has largely stayed on the sidelines pending regulatory clarity. Goldman Sachs was the largest holder among reporting firms in Q2 filings with about $87.45 million in XRP ETF exposure, which is a real position and a small one.

On the corporate side, Evernorth and other public companies are building XRP treasury strategies. This site first noted Evernorth’s Nasdaq-listed SPAC merger progress in August, when a mundane filing showed the deal had not collapsed.

What is the escrow problem? Ripple puts more XRP into circulation each month than the entire ETF complex absorbs, and that has not changed with the price.

Ripple releases 1 billion XRP from escrow monthly and re-escrows between 600 and 800 million, so 200 to 400 million enters circulation. Escrow transactions are verifiable on the XRP Ledger explorer. ETF absorption has run near 109 million XRP per month. That is between 1.8 and 3.7 times more new supply than institutional demand removes.

Escrow is a mechanism that locks tokens under a scheduled release, with unreleased amounts returned to lock-up, so the net figure rather than the headline release determines how much supply actually reaches the market.

This site covered the same structure on July 7, when we described the gap between XRP’s fully diluted valuation and market cap as a supply overhang worth tens of billions of dollars standing behind every rally. The rally has since happened anyway, which shows the overhang is a headwind rather than a ceiling. It also means the demand side has to keep growing simply to hold this level.

What are the risks? Seasonality, the resistance band, and who sold into the last leg.

September has historically moved opposite to August for XRP in seven of the last eight years. Both times August rose, September fell, by 14% in 2020 and 19.6% in 2021. That pattern is working against the token this month, and it is still an eight-year sample.

Santiment’s HODL Waves data showed wallets holding XRP for three to six months cutting their share of supply during the August rally, meaning buyers from around March took the opportunity to exit at break-even after months underwater. Whale data is mixed: large holders added 1.54 billion tokens worth about $2.2 billion, though conflicting readings suggest some moved to exchanges.

The boundary on the whale figure: tokens moving to exchanges are not proof of selling, and accumulation data from different trackers frequently disagrees. Treat it as contested rather than settled.

What levels matter now? $1.4923 to $1.5436 as the band being tested, with $1.69 as the level that would change the picture.

Analysts have flagged $1.49 to $1.54 as the decisive resistance zone and have said nothing improves structurally until a two-day close above $1.69, the August high. Below, $1.35 to $1.38 has been identified as the significant demand zone.

For longer horizons: XRP’s all-time high of $3.65, set on July 17, 2025, sits about 58% above the current price and would require a gain of roughly 138% to reach.

Bottom line XRP trades at $1.5358, roughly 54% above the $1.00 level it defended in August, with ETF inflows crossing $100 million weekly for the first time since December while monthly escrow releases still add two to four times more supply than ETFs absorb.

The dollar held, which settled the question this site raised in August. What it did not settle is the arithmetic underneath: demand has improved but still has not overtaken supply, and the rally has been funded by a retail-dominated ETF base rather than the institutional money waiting on regulation. That is a thinner foundation than the price suggests.

XRP’s use case already extends past ETF wrappers and spot trading, casinos included. It’s one of the more widely accepted deposit currencies among online crypto casinos, and BlockchainReporter’s crypto casino leaderboard ranks more than 20 of these platforms on licensing, bonuses, and payout speed.

This article is for information only and is not investment advice. Crypto assets are extremely volatile and you can lose your entire stake. Always do your own research.

Ripple’s XRP is increasingly capturing attention within the global banking sector as a fast, efficient liquidity solution. Despite a challenging regulatory environment, XRP’s technical features and Ripple’s expanding network of partners are positioning the digital asset as a leading candidate to power cross-border payment flows.

Banks eye XRP for next-generation liquidityBlockchain researcher SMQKE recently shared a case study emphasizing that “no bank has unlimited resources,” highlighting the importance of effective liquidity management. Ripple’s On-Demand Liquidity (ODL) platform, powered by XRP and designed to integrate with SWIFT’s ISO standards, addresses a key pain point for financial institutions seeking real-time settlement and liquidity optimization.

The analysis reveals that ODL technology is now gaining traction especially among banks operating in developing regions. Sir Graham Bright, who has been active in cross-border payment initiatives, noted that local governments and businesses in Africa have started to use this system to facilitate transactions in their native currencies, with XRP serving as the intermediary asset.

The process enables almost instant currency conversions while bypassing the risks and delays associated with traditional correspondent banking. By transacting directly in XRP or their own fiat currencies, banks and enterprises benefit from lower costs and reduced complexity compared to legacy cross-border systems.

Transacting with XRP-supported ODL services allows users in developing regions to instantly settle payments in their local currency, eliminating reliance on traditional correspondent banks and cutting both time and costs from the process.

Traditional institutions expand ODL useRipple’s global reach now includes more than 300 banking and payment partners who can access On-Demand Liquidity services. This growing network includes both large commercial banks and local players in regions that are actively seeking modern payment infrastructure.

Santander, National Bank of Egypt, Travelex Bank, SBI Remit, and Siam Commercial Bank of Thailand are among the institutions already experimenting with or deploying aspects of Ripple’s ODL solution. However, each partner can choose whether to utilize XRP as the settlement token or opt for one of RippleNet’s broader range of fiat and digital assets, depending on regulatory and business considerations.

With these deployments, Ripple aims to offer rapid, secure cross-border payment capabilities to financial institutions that often lack access to stable liquidity options for international transfers.

While the expanding ODL network promises new efficiencies, the ultimate scale of XRP adoption will depend on how banks balance regulatory compliance with the benefits of digital asset-enabled settlements.

Technical monitoring of the evolving payment landscape is especially important in the fast-moving meme token market, where viral trends can generate massive investment flows in short periods. For example, Fomo App data records a “Niu Lai” trade that turned a $99 stake into nearly $370,000, exemplifying how quickly interest can spike. In this segment, timing and token selection are critical, and platforms such as Fomo App now combine investor rankings, trade notifications, and social feeds to help users track opportunities and stay informed.

Key Takeaways Veteran analyst Peter Brandt identifies a technical pattern suggesting XRP could reach $5.40, with this target potentially achievable within the next year. The digital asset is currently changing hands around $1.44, representing a gain of approximately 4% in the last day and exceeding 8% growth over a three-day period. Major holders accumulated approximately 1.54 billion XRP tokens valued at $2.2 billion during a 96-hour window, per Santiment tracking data. The XRP Ledger’s Batch V1.1 network enhancement has secured approval from 30 out of 35 validators, with potential implementation expected around September 29. US-based spot XRP exchange-traded funds have accumulated approximately $1.7 billion in total net capital inflows. As of September 21, XRP is hovering around the $1.44 mark, posting gains of close to 4% during the previous 24-hour period. The token has maintained positive momentum for seven consecutive trading sessions.

XRP Price This upward trajectory coincides with Bitcoin’s surge past the $81,800 threshold, registering gains exceeding 5% across the past week. The aggregate cryptocurrency market capitalization increased by roughly 1.7% during the equivalent timeframe.

XRP’s performance has exceeded broader market trends throughout this week. Substantial wallet holders initiated accumulation after the asset rebounded from the $1.24 to $1.26 price corridor.

Santiment’s on-chain analytics reveal that whale-tier addresses acquired approximately 1.54 billion XRP tokens during a 96-hour span. The combined value of these acquisitions approached $2.2 billion based on prevailing market rates.

This accumulation activity elevated the monitored whale cohort’s aggregate holdings to approximately 9.81 billion XRP tokens.

Market observer Ali Martinez, operating under the handle Ali Charts on the X platform, highlighted this purchasing behavior in a recent analysis. He noted that XRP advanced 8.22% over three days following the whale acquisition of tokens exceeding $2 billion in value, and that blockchain data indicates minimal selling pressure until the $1.60 level, where approximately 2.5 billion XRP previously traded hands. Martinez identified $1.60 as his next monitored threshold for potential distribution activity.

XRP RALLIES AFTER WHALES BUY. WHERE NEXT?

Recently, whales accumulated more than $2 billion worth of $XRP.

Now that demand appears to be showing up in price, with XRP rallying 8.22% in just three days.

But on-chain data suggests there may still be room to run.

The URPD shows… https://t.co/yWD0rDhj2X pic.twitter.com/wjiQ9hLz8R

— Ali Charts (@alicharts) September 21, 2026

CryptoQuant’s metrics additionally documented roughly 1.6 billion XRP tokens entering Binance during the previous 30-day window. This represents the largest transfer volume registered since March.

Blockchain Enhancement Approaches Activation The XRP Ledger is approaching implementation of its subsequent protocol upgrade. Network validators are consolidating support for the Batch V1.1 amendment.

The enhancement proposal has garnered endorsement from 30 among 35 monitored validators. This surpasses the 28 affirmative votes required to satisfy the protocol’s 80% approval threshold.

The amendment initiated its activation countdown on September 15. Implementation could occur approximately September 29 assuming sustained validator support.

RippleX indicates that institutional fund managers and enterprise-level projects intend to utilize Batch functionality upon deployment. The specific organizations have not been publicly disclosed at this time.

Spot XRP exchange-traded funds operating in the United States have continued attracting capital. These investment vehicles have accumulated approximately $1.7 billion in aggregate net inflows.

Total assets under management in these ETF products approached $1.39 billion as reported on September 17.

Critical Technical Thresholds XRP is currently trading above all four principal daily exponential moving averages. The 20-day EMA is positioned around $1.368, in close proximity to the 200-day EMA at $1.356.

This is my long-term chart of ripple:native It implies an eventual advance to $5.40
A claim of a "call" or simple presentation of a chart is NOT a trade People who claim "trades" need to provide proof or else the claims are BS An X post is NOT proof pic.twitter.com/Szu6FiZq2T

— The Factor Report (@PeterLBrandt) September 21, 2026

The 50-day EMA rests near $1.303, while the 100-day EMA sits approximately at $1.268. A decline beneath $1.35 would bring these support levels back into consideration.

On the Binance exchange, liquidation heatmap data reveals concentrations of leveraged trading positions near $1.45 and $1.47. Beneath current pricing, position clusters are located around $1.38 and within the $1.36 to $1.37 range.

A daily candle closure above $1.45 would bring the Donchian Channel upper boundary near $1.50 into view. Breaking through that resistance could establish a trajectory toward the $1.54 to $1.55 zone.

Africa’s institutional crypto market just reached a new threshold.

South Africa’s Absa Corporate and Investment Banking has launched Absa Digital Asset Custody, a live institutional platform built on Ripple’s custody technology.

Absa CIB confirmed the go-live on September 21, 2026, calling it “a digital first for Africa.”

Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, described the launch as a “major milestone” for bank-grade digital asset infrastructure on the continent.

From Partnership to Live Product: What Absa Is Now Offering The roots of today’s launch go back to October 2025. That is when CoinGape first reported Ripple’s 2025 Absa custody partnership, which outlined Absa’s plan to bring regulated digital asset storage to its corporate banking clients.

Today, that agreement has become a named product.

Absa Digital Asset Custody provides institutional clients with private-key management, transaction and approval controls, and bank-grade governance and compliance wrapping.

Introducing Absa Digital Asset Custody, bringing institutional-grade security, governance and control to digital assets.

A digital first for Africa, built to institutional standards.

Discover more: https://t.co/arLxCMibLs#InvestedInYourStory #AfricaExpertise pic.twitter.com/L4WHBjIXaf

— Absa Corporate and Investment Banking (@Absa_CIB) September 21, 2026

The platform is designed for clients who already trust Absa with traditional assets and now want the same security standard applied to digital holdings.

Absa is not positioning this as a trading venue. It is positioning it as a vault.

Robyn Lawson, Head of Digital Product Custody at Absa CIB, made the bank’s intent clear at the time of the original deal, clients needed “secure, compliant, and robust custody solutions.”

That language is now reflected in a live product page at cib.absa.africa. Absa says the platform covers safekeeping, key control, audit trails, and a familiar regulated counterparty.

Ripple provides the underlying custody software and blockchain broadcast capability. Absa provides the banking wrapper.

Merrick’s framing today is the commercial one. He wrote that Absa is now setting “a new benchmark for secure, compliant, and bank-grade digital asset management on the continent.”

That benchmark has been a deliberate goal. Ripple’s broader custody expansion has long been framed as a precondition for institutional adoption, not a side product.

A Bank-Custody Race With Continental Stakes Absa’s launch arrives during a global sprint among major banks to establish crypto custody. Deutsche Bank’s crypto custody plan was announced in the same week, covering Bitcoin, Ether, and select stablecoins for institutional clients.

The timing underscores a structural shift: large balance sheets want vaults before they want trading screens.

Absa Digital Asset Custody sits inside a wider Ripple infrastructure push across the continent. Ripple’s RLUSD push in Africa has extended dollar stablecoin rails through regional fintechs.

Ripple’s Chipper Cash payments deal connected African cross-border flows to the Ripple network. Ripple’s Flutterwave stake gave the company equity exposure to one of Africa’s largest fintech payment processors.

Custody completes that infrastructure loop. Payments move value. Stablecoins settle value. Custody now lets a regulated bank hold value.

Ripple has demonstrated the same custody-first model elsewhere. BBVA’s Ripple custody rollout brought Bitcoin and Ether custody to retail banking clients in Spain.

Ripple Custody in tokenized bond settlement showed the same rails applied to sovereign debt. Africa is now the third region where a major bank has taken Ripple custody to market.

The regulatory backdrop strengthens the case. SEC path for Ripple as a custodian opened the door for Ripple-adjacent institutions to operate as qualified custodians under US guidelines.

BNY Mellon as RLUSD reserve custodian established a high-trust institutional precedent for Ripple-backed assets. Absa Digital Asset Custody now adds a live African bank to that stack.

Whether Absa Digital Asset Custody expands beyond South Africa to Absa’s other African markets, and whether tokenized assets or stablecoins follow as product extensions, will define how significant today’s launch becomes.

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Volatility Shares has postponed its proposed 3x XRP ETF, pushing the effective date to October 18, 2026. This development provides traders in XRP, a major digital asset in the crypto market, with a new regulatory milestone to monitor but does not guarantee the fund will launch or begin trading on that date.

Details of regulatory filingA regulatory document submitted on September 18 designates October 18, 2026 as the updated effective date for Volatility Shares’ registration statement related to the 3x XRP ETF. The filing clarifies that its sole objective is to delay the already amended registration covering the 3x leveraged fund, rather than signal a definitive trading start.

This distinction is important in an environment where new ETF filings, approval dates, and launch announcements are often confused. Currently, the market for XRP exchange-traded funds includes both spot and leveraged products, contributing to occasional misinterpretations of regulatory updates as go-live announcements.

Expansion of leveraged XRP productsVolatility Shares already provides multiple XRP-based ETFs, among them a standard spot ETF and the XRPT 2x leveraged fund. These offerings underscore that the prospective 3x ETF would add to an established suite of products rather than mark Volatility Shares’ first foray into XRP-related investments.

Leveraged ETFs are structured to amplify the daily returns of their underlying assets by a set factor. In the case of a 3x ETF, the fund seeks to deliver approximately three times XRP’s daily movement, recalibrating exposure each trading day. This daily reset means the actual outcome over longer periods can diverge significantly from the expected multiple, particularly in turbulent markets.

Mini dictionary: Leveraged ETF – An exchange-traded fund designed to multiply the daily performance of an underlying asset, such as 2x or 3x, by using derivatives and debt. Over multiple days, performance may vary substantially due to compounding effects and volatility risks.

For example, if $XRP gains 5% in a single session, a perfectly tracking 3x ETF would theoretically move about 15% before fees and other influences are applied. However, these amplified returns can also accelerate losses, as the same formula operates in both directions.

ETF TypeLeverageTargeted Daily PerformanceCurrent StatusXRP Spot ETFNoneTracks XRP priceActiveXRPT 2x XRP ETF2x2x daily XRP moveActiveProposed 3x XRP ETF3x3x daily XRP moveFiling delayed to Oct. 2026Market context and institutional interestThe delay for the 3x XRP ETF comes at a time when leveraged exposure to XRP continues to expand in the US. While some proposals, such as a 2x short XRP ETF, remain on hold after several postponements, bullish leveraged products have already reached investors. This highlights ongoing demand for a diverse array of risk profiles for XRP-related funds.

Spot XRP ETFs have attracted roughly $1.7 billion in historical net inflows, despite $XRP’s market price remaining below its all time high. Coinpaper recently analyzed why significant demand for these ETFs has yet to generate a breakthrough in price levels.

Spot XRP ETFs have seen approximately $1.7 billion in net inflows, but the token continues to trade well beneath its former record value.

Institutional investors are broadening their exposure as well. Morgan Stanley, a leading global financial services firm, has previously disclosed positions in XRP-linked ETFs, including products from Volatility Shares. Competitors in the market continue to offer a mix of leveraged and income-focused ETF options to meet institutional and retail client demand.

TLDR: Saudi Arabia ended its mBridge proof of concept on May 13, 2025, after joining as a full participant in 2024. Riyad Bank’s Jeel unit is exploring Ripple for payment corridors, digital asset custody, and tokenization. Neither SAMA nor Jeel has linked the mBridge exit to XRP, RLUSD, or a replacement cross-border payment plan. SAMA first partnered with Ripple in 2018, while Saudi British Bank later used Ripple for India transfers. Saudi Arabia has ended its participation in mBridge, the China-linked wholesale CBDC project designed to improve cross-border settlement between banks. The move became public on September 20, 2026, but the Saudi Central Bank said the decision followed an earlier participation plan.

SAMA said it completed its proof of concept on May 13, 2025, marking the end of the kingdom’s planned experiment. The central bank joined mBridge as a full participant in June 2024 after previously observing the network.

JUST IN: 🇸🇦🇨🇳 Saudi Arabia withdraws from China's blockchain payment system designed to reduce reliance on the US dollar and SWIFT.

• Saudi Arabia withdrew from mBridge, China's blockchain-based cross-border payment project.

• mBridge enables faster, cheaper central-bank… pic.twitter.com/MBopNW3wjX

— BRICS News (@BRICSinfo) September 20, 2026

The exit coincides with separate blockchain work involving Riyad Bank and Ripple, creating a broader picture of Saudi payment experimentation. However, no available evidence links the withdrawal to XRP, RLUSD, or a replacement strategy built around Ripple.

Saudi Arabia Ends mBridge Participation After Planned CBDC Trial mBridge supports direct cross-border payments and foreign-exchange transactions using wholesale central bank digital currencies. Its distributed ledger was designed to reduce settlement friction between participating commercial banks.

The network reached minimum viable product status in 2024 and could process real-value transactions where participating jurisdictions were ready. Its structure could also reduce reliance on correspondent banks and intermediary currencies during cross-border settlement.

Still, the Bank for International Settlements described the project as a payment-efficiency initiative rather than a BRICS system designed to bypass the dollar or sanctions. The BIS itself left in October 2024 after four years of involvement.

Then-General Manager Agustín Carstens said the organization had “graduated out” and rejected suggestions that political concerns drove the decision. SAMA used a similarly operational explanation, saying its participation ended after the planned proof of concept.

Riyad Bank Tests Ripple for Payments, Custody and Tokenization Meanwhile, Riyad Bank is examining other blockchain applications through Jeel, its innovation and technology arm. In January, Jeel signed an agreement with Ripple covering payment corridors, digital asset custody, and tokenization.

The two sides also planned proofs of concept through Jeel’s regulatory sandbox. The arrangement extends earlier Saudi blockchain testing rather than replacing the central bank’s mBridge work.

SAMA had already partnered with Ripple in 2018, allowing domestic banks to test xCurrent for cross-border payments. Saudi British Bank later launched a Ripple-powered transfer service after testing payments to India.

Yet neither Jeel nor SAMA has said the latest collaboration involves XRP or RLUSD. Jeel’s announcement referred to Ripple’s broader blockchain technology without naming either asset.

A separate Saudi-XRP link also remains outside government policy. Prince Abdulaziz bin Turki Abdulaziz Al Saud led VivoPower’s $121 million private placement for an XRP-focused treasury strategy in May 2025.

That transaction was a private investment, not a central bank decision. Together, the developments show parallel experiments in digital settlement, not evidence that one system is replacing another.

Ripple has introduced the XRPL AI Starter Kit, a comprehensive development toolkit designed to enable artificial intelligence agents to autonomously initiate payments using XRP and RLUSD on the XRP Ledger. This move places Ripple, a blockchain-based payment solutions provider, at the forefront of bridging the gap between AI-driven economic actors and practical payment infrastructure.

XRPL AI Starter Kit enables autonomous paymentsThe XRPL AI Starter Kit empowers developers to create agent-focused payment applications utilizing XRP, Ripple’s native digital asset, as well as RLUSD, its dollar-backed stablecoin. This toolkit integrates directly with the Machine Payments Protocol (MPP), an open standard for machine-to-machine payments that was jointly developed by payments company Stripe and Europe-based remittance provider Tempo.

With this integration, AI agents can perform recurring payments and manage wallets not only on the XRP Ledger but also across multiple blockchains. The kit supports the x402 payment standard and provides tools for creating wallets, checking balances, and initiating transactions autonomously.

Mini dictionary: RLUSD is a stablecoin issued by Ripple, pegged 1:1 to the US dollar. It is specifically designed to provide stability and facilitate efficient payments on the XRP Ledger ecosystem.

Ripple’s Senior Vice President at RippleX stated that XRPL was built for this kind of autonomous payment future, emphasizing that x402 support enables agents to conduct payments with XRP and RLUSD immediately.

The Machine Payments Protocol offers more than basic transaction capabilities. It introduces a session-based approach, allowing an agent to pre-approve spending limits and continuously stream micropayments without generating separate on-chain transactions for each payment. This design enables recurring agent payments at scale.

FeatureXRPL AI Starter KitTraditional Payment SolutionsRecurring/Automated PaymentsYes, via MPP/x402Limited support, manual approval commonMulti-Blockchain SupportYesUsually noAutonomous Wallet ManagementYesNoStablecoin IntegrationRLUSD includedVariesRipple strengthens ecosystem partnershipsRipple’s integration with Stripe and Tempo extends beyond technical collaboration. In July 2026, Ripple became a Premier Member of the x402 Foundation, joining a roster of major enterprises such as Coinbase, Circle, Shopify, Stripe, and American Express.

The x402 protocol was initially developed by Coinbase and is currently governed by the Linux Foundation. It has processed more than 120 million transactions, settling over $41 million in volume across 14 separate blockchains.

This development highlights a broad industry effort to standardize AI-driven payments, bringing together leading payments, fintech, and blockchain firms within a common framework.

Ripple’s network reach has continued to expand. Mastercard has included Ripple as a partner in its Agent Pay for Machines initiative, making Ripple one of over 30 launch partners in Mastercard’s agentic commerce network. Ripple is now actively integrated with the x402, Machine Payments Protocol, and Mastercard’s agentic stack.

Mini dictionary: x402 is a payments protocol for automated and recurring machine-to-machine transactions, originally created by Coinbase and now overseen by the Linux Foundation. It is used by AI agents for seamless multi-blockchain payments and wallet management.

XRP and RLUSD in autonomous commerceThe integration of AI agents with XRPL highlights a shift in payment infrastructure requirements. Fast, cost-efficient, and automated settlement processes are necessary to support workflows and transactions between machines and agents without human intervention. The XRP Ledger addresses these needs with rapid transaction finality, transparent fees, and a built-in decentralized exchange.

RLUSD complements this system by providing price stability for operations requiring predictable billing, such as automated invoice settlement and international payouts. Since the XRP Ledger allows agents to hold either XRP or RLUSD, seamless conversion between these assets is possible through its native decentralized exchange capabilities.

The XRP Ledger (XRPL) is preparing for the activation of its BatchV1_1 protocol amendment, currently on track for September 29, pending sustained validator approval above the required threshold. BatchV1_1 introduces a significant functional change, enabling the processing of multiple transactions as a single group.

Validator approval and activation processUnlike most traditional software updates, protocol amendments in XRPL require more than developer initiative. To become part of the network’s rules, any new feature must receive support from at least 80% of trusted validators for two consecutive weeks. This decentralization ensures that upgrades reflect consensus among the network’s guiding participants rather than decisions from a single company such as Ripple.

If BatchV1_1 secures this supermajority support continuously over the next weeks, its activation date will remain set for September 29. This process gives the broader XRPL community and ecosystem developers advance notice of the pending upgrade.

Technical details and functionality of BatchV1_1According to the official XRP Ledger documentation, BatchV1_1 will allow accounts to bundle up to eight separate transactions into a single batch submission. These transactions can be structured so that their execution is interdependent.

A standout feature of this update is atomic execution. This means that either every transaction in a batch succeeds together, or the entire group fails, preventing partial execution that could leave contracts or trades incomplete. This capability paves the way for support of atomic swaps and other complex financial operations consisting of multiple, linked steps.

Mini dictionary: Atomic execution, in blockchain, refers to a process where multiple operations are performed all at once or none at all. If any part of the grouped operation fails, the entire set is rolled back, ensuring consistency and preventing partial, potentially problematic outcomes.

With BatchV1_1, developers can tie multiple XRPL transactions together, ensuring that they all succeed or all revert, which addresses many multi-step transaction use cases such as cross-asset swaps and institutional settlement flows.

Security improvements and previous attemptBatchV1_1 is the second attempt to bring batch transaction functionality to XRPL. Earlier this year, the original Batch amendment was halted after researchers identified a critical security flaw. The vulnerability could have allowed malicious actors to perform unauthorized transactions from other accounts without owning their private keys.

XRPL developers acted quickly, disabling the vulnerable feature before it reached mainnet activation. The corrected BatchV1_1 amendment addresses these security concerns, and its pending implementation marks the feature’s return after a comprehensive fix.

The return of batch transactions with enhanced safeguards makes the upcoming upgrade a particularly notable event in XRPL’s broader 3.3.0 cycle as the protocol moves deeper into tokenization and institutional settlement capabilities.

Ongoing upgrades and ecosystem developmentThe BatchV1_1 amendment is part of a larger series of protocol upgrades under XRPL version 3.3.0. The network is simultaneously advancing in areas such as tokenization, institutional settlement, and native lending services.

Work is also ongoing for XRPL Lending v1.1, which is undergoing its own validator approval process. RippleX, the developer-focused arm of Ripple, has pointed to XRP collateral as a potential institutional credit use case, further expanding the network’s reach into financial services.

The U.S. House Financial Services Committee voted 28 to 21 in favor of H.R. 8957, the American Reserve Modernization Act of 2026, moving the legislation forward on September 16. This bill proposes the creation of two separate crypto-related reserves at the Treasury Department: a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.

Key features of H.R. 8957Under H.R. 8957, Bitcoin will be held in the Strategic Bitcoin Reserve, which requires the government to hold these assets for at least 20 years. Other digital assets, including tokens beyond Bitcoin, will be placed in the U.S. Digital Asset Stockpile.

Federal agencies that currently possess any form of digital assets must report their holdings within 60 days of the bill’s enactment, with the Treasury mandated to assume custody within 30 days after those disclosures.

To promote transparency, the legislation calls for public quarterly Proof of Reserve disclosures. These reports are intended to ensure that government-held cryptocurrency assets can be monitored and audited by the public and market participants.

House Financial Services advanced H.R. 8957 with a 28-21 vote, bringing both the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile, which covers assets like XRP, one step closer to reality. This marks the first formal congressional progress for such legislation.

XRP’s status in the government crypto stockpileXRP is specifically identified for inclusion in the U.S. Digital Asset Stockpile. President Donald Trump named XRP, along with Solana and Cardano, when outlining his administration’s initial crypto reserve proposal. His executive order from March 2025 laid the legal groundwork, but H.R. 8957 provides the statutory measures needed for permanence.

The bill’s recognition of XRP as a government-held digital asset separates it from most other cryptocurrencies that lack official acknowledgment. This marks the first occasion XRP has been officially recognized in a congressional vote related to digital asset reserves.

Long-term effects and market contextThe presence of XRP in the Digital Asset Stockpile builds a formal institutional basis for the token’s long-term significance, suggesting a level of acceptance within U.S. governmental policy frameworks. The inclusion of protection laws also prevents agencies from selling, encumbering, or disposing of digital assets, including XRP, during the transition to Treasury custody.

Congressional acknowledgment of XRP as part of a strategic reserve grants it a new level of legitimacy with both institutional and retail market participants, as agencies will be required to report and maintain these assets under strict transparency rules.

Meanwhile, traditional financial markets are experiencing a shift as Wall Street increasingly explores Web3 infrastructure. Investors are turning to platforms such as 1stepSwap, which enables direct ownership of U.S. equities, gold, and silver within crypto wallets by tokenizing real-world assets (RWAs) and providing rapid price discovery across markets—bypassing traditional brokers and intermediaries in the process.

Next steps for the billDespite this legislative progress, H.R. 8957 is not yet law. The bill must still pass a full vote on the House floor, followed by Senate approval, before it can be presented to the President for signature. At this stage, the timeline for those further votes remains unconfirmed.

This vote follows the recent Senate decision to reject the CLARITY Act, adding renewed attention to digital asset policy. The inclusion of XRP and other tokens in formal reserve structures will remain under close observation as the legislation advances through the next phases of Congress.

Evernorth, the largest treasury manager dedicated to XRP, has secured a $30 million convertible-note commitment from NH Investment & Securities, a leading South Korean investment firm. The infusion of capital is aimed at supporting Evernorth’s ongoing merger process and enhancing its role as a key player in the XRP ecosystem.

Major South Korean funding backs Evernorth’s XRP strategyNH Investment & Securities has provided Evernorth with $30 million via a convertible note, a financial instrument offering investors the option to convert debt to equity. The funding stands out as one of the most significant financial endorsements of an XRP-focused company to date, highlighting South Korea’s continuing interest in the digital asset sector.

The commitment arrives as Evernorth advances its merger with a special purpose acquisition company (SPAC), a corporate structure often used to fast-track public listings through reverse mergers. The capital injection is intended to secure Evernorth’s position through this transition and to enable it to expand its XRP holdings.

NH Investment & Securities is one of South Korea’s largest brokerage firms, specializing in securities trading, investment banking, and asset management.

Mini dictionary: SPAC (Special Purpose Acquisition Company), a company formed to raise capital through an initial public offering with the purpose of acquiring an existing company and taking it public.

Path to public listing and treasury expansionThe primary purpose of the new funds is to help Evernorth finalize its planned merger with the SPAC, facilitating a future listing on Nasdaq under the ticker symbol XRPN. Company representatives described the SPAC merger as a critical step toward entering public markets, where Evernorth aims to become the leading publicly traded XRP treasury management entity.

Upon completion of the SPAC merger and Nasdaq listing, Evernorth intends to give traditional investors a unique opportunity to access its corporate treasury strategy focused solely on XRP.

Evernorth specified that it plans to deploy the entire $30 million to purchase spot XRP directly from the open market. Expanding its XRP holdings, the company aims to strengthen its reserves of the digital asset in preparation for the public share offering.

First XRP-focused treasury company eyes NasdaqEvernorth’s strategy centers on offering exposure to XRP through a stock market listing, a move expected to broaden access for institutional and conventional investors. By holding substantial quantities of XRP and managing related treasury activities, Evernorth targets a leadership position among crypto asset management firms seeking mainstream capital market participation.

With the anticipated Nasdaq listing, Evernorth would become one of the first dedicated XRP treasury management companies available as a public equity, marking a significant milestone in the integration of crypto-treasury strategies with traditional financial markets.

EntityRoleContributionNH Investment & SecuritiesInvestor$30 million convertible noteEvernorthXRP Treasury FirmTo purchase spot XRP, merger, Nasdaq listingSPACAcquisition CompanyFacilitates public listing via mergerIndustry observers are watching Evernorth’s next steps closely, given the rising trend of digital asset firms seeking entry into traditional equity markets. The outcome of Evernorth’s SPAC merger and new XRP acquisitions could set important precedents for crypto-native companies moving toward public listings.

Flare founder Hugo Philion has proposed a way for XRP holders to use their XRP on the XRP Ledger as collateral, borrow RLUSD through Flare, and receive the RLUSD directly in their XRPL wallet.

The idea would let users “borrow RLUSD against their XRP directly from the XRP Ledger” using Flare Smart Accounts, while keeping the borrowed RLUSD on the XRP Ledger.

However, this would require two things:

The Wormhole RLUSD bridge must be operational. XRP Ledger validators must approve the PermissionDelegationV1_1 amendment. PermissionDelegationV1_1 would allow XRPL accounts to give another account permission to perform certain transactions without sharing their private keys. This makes it easier to build more flexible account-management and application features.

How the XRP-RLUSD Flow Would Work Under Philion’s proposal, users will keep their XRP on the XRP Ledger instead of manually moving it between different wallets. Users could represent XRP on Flare as FXRP and use it as collateral to borrow RLUSD. Users can then send the borrowed RLUSD back to their XRP Ledger wallet.

In simple terms:

XRP on XRPL → FXRP on Flare → Borrow RLUSD → Receive RLUSD on XRPL

XRPL validator Vet described Flare as an “extended arm” of the XRP Ledger. In this setup, users deposit XRP on XRPL, receive FXRP on Flare, borrow RLUSD through Morpho, and get the RLUSD in their XRPL wallet without creating a new wallet or account.

The idea builds on Flare’s existing work to connect XRP with Ethereum-based DeFi. Flare has also received approval for an FXRP lending market involving RLUSD, with Morpho providing the lending infrastructure. Flare is developing Smart Accounts that could allow users to authorize the entire process directly from an XRP Ledger wallet.

Honestly, that's a very creative and impressive XRP unlock!

Flare acts as an extended arm for the XRP Ledger here.

Deposit XRP on XRPL -> Flare FXRP -> Borrows RLUSD on Morpho -> Receive RLUSD on XRPL in your wallet.

All that without new accounts or wallets. Even more bullish… https://t.co/PFDS6xsNLI pic.twitter.com/QgZ43yx8ay

— Vet (@Vet_X0) September 16, 2026

Permission Delegation Is Important PermissionDelegationV1_1 is important because it would allow an XRP Ledger account to let another account carry out certain transactions for it.

The feature uses a DelegateSet transaction to give, change, or remove specific permissions. The authorized account can then make approved transactions without taking control of the original account.

For the feature to go live, XRP Ledger validators must approve the amendment. According to XRPL documentation, it needs more than 80% validator support for two weeks before it can be activated.

For now, PermissionDelegationV1_1 is still going through the validator voting process. This means the proposed Flare lending system depends on the amendment being approved and activated.

Community Reacts to Flare’s XRP Lending Idea XRP commentator Eri said the proposal builds on infrastructure created through Ripple’s connection with Wormhole.

In simple terms, users could approve the transaction from their XRPL wallet, keep their XRP on the XRP Ledger, and receive RLUSD at the same address. The lending itself would happen through Ethereum-based infrastructure.

Another XRP community member, Krippenreiter, pointed out that users would start and finish the process on the XRP Ledger, while FXRP would represent their XRP on Flare and act as collateral.

This gives XRP holders access to decentralized lending without manually managing several blockchain accounts. For Flare, the proposal would strengthen its role as a link between the XRP Ledger and Ethereum-based DeFi.

Deutsche Bank, Germany’s largest financial institution, is expanding its partnership with Ripple by implementing the blockchain company’s infrastructure across key operational areas. The move has reignited interest in the XRP ecosystem as the bank leverages Ripple’s technology for faster and more efficient transactions.

Prominent crypto advocate Amelie (@_Crypto_Barbie) shared that Deutsche Bank is using Ripple’s blockchain platform for cross-border payments, adding that she sees “bright times ahead for $XRP and all its holders.” She highlighted an image from Traders Union with the caption, “Deutsche Bank adopts Ripple tech,” drawing renewed attention to the development within the XRP community.

Deutsche Bank has become another Ripple partner. Supporters believe this integration signals positive prospects for XRP and its holders.

The integration targets three core functions at Deutsche Bank: cross-border payments, foreign exchange operations, and digital asset custody. By leveraging Ripple’s blockchain, the bank aims to shorten settlement times from up to five business days to just seconds and reduce operational costs by as much as 30% according to industry estimates.

Deutsche Bank is also playing a role in SWIFT’s blockchain-based global payments initiative, collaborating with more than 40 major financial institutions. The dual engagement with SWIFT and Ripple situates the bank at the forefront of blockchain-driven financial innovation.

Mini dictionary: Deutsche Bank is one of the world’s largest multinational investment banks and financial services firms, based in Frankfurt, Germany, and recognized for its influence in both retail and institutional banking worldwide.

Area of IntegrationCurrent Settlement TimeTarget with RippleCross-border payments2–5 business daysSecondsForeign exchangeUp to several hoursSecondsCustody servicesSame day—up to several daysMinutes to secondsRipple and Deutsche Bank’s growing relationshipThe collaboration between Ripple and Deutsche Bank has strengthened over the past year. Deutsche Bank joined Ripple’s institutional platform in early 2026, entering a network of leading European financial organizations adopting blockchain solutions for operational efficiency.

In recent months, Ripple secured additional partnerships with Société Générale and Aviva Investors, major European entities collectively managing over $3 trillion in assets. Deutsche Bank remains one of Ripple’s most significant institutional clients, highlighting mainstream banking’s growing appetite for blockchain-based infrastructure.

Implications for XRP demandWhen top financial institutions adopt Ripple’s technologies, it reinforces Ripple’s role in institutional finance. Broader adoption increases potential demand for XRP, particularly if banks deploy Ripple’s On-Demand Liquidity (ODL) service. In that model, XRP functions as a bridge asset for real-time settlement between currencies, a scenario watched closely by XRP holders and market analysts alike.

The rapid integration of Ripple at scale could drive faster settlement, lower costs, and increased liquidity for banks using XRP as a core transactional asset.

Mini dictionary: Ripple’s On-Demand Liquidity (ODL) is a payment solution that uses XRP to enable instant cross-border transfers, eliminating the need for pre-funded accounts in destination currencies.

European adoption continues despite US setbacksThe news of Deutsche Bank’s commitment to Ripple’s infrastructure comes in the wake of legislative challenges in the US, where the Senate recently failed to pass the CLARITY Act aimed at regulatory certainty for cryptocurrencies.

Despite this setback, Deutsche Bank’s ongoing integration of Ripple technology highlights a trend toward accelerated blockchain adoption within Europe’s leading financial sector. The region’s institutions are making progress independently of US regulatory timelines.

 XRP Ledger version 3.4.0 is now available, bringing changes to its lending framework alongside new amendments, stronger peer protections and performance updates aimed at improving how network nodes operate.

XRP Ledger 3.4.0 Brings Lending Changes The XRP Ledger Foundation released version 3.4.0 with Lending Protocol v1.1 among the amendments open for voting. The improvement introduces closed-ended vaults and cash-basis accounting to the lending framework.

XRPL features lending loans based on the XLS-66 specification, which offers fixed-term loans with the use of Single Asset Vaults. The model uses off-chain underwriting and risk assessment instead of requiring each loan to have on-chain collateral.

However, installing XRPL 3.4.0 does not automatically activate the new lending functions. Before the network can adopt the amendment, validators need to support the amendment.

Formal verification is also being used for the Lending Protocol by the developers. This method leverages mathematical proofs to verify the protocol’s behavior under specific inputs, in addition to traditional software testing.

Version 3.4.0 Adds Fixes and Node Updates Another amendment included with the release is fixCleanup, which groups several fixes into one proposal. The update comes after previous cleanup efforts of Single Asset Vaults, lending and automated market makers and other functions of XRPL.

Version 3.4.0 also modifies the behavior of nodes regarding missing ledger history. Online deletion now pauses when the software detects a gap, helping a node remain closer to the latest validated ledger.

Meanwhile, the developers made changes to the peer protocol and the Multi-Purpose Token freeze checks. These modifications are targeted to the network communication and the pace of particular checks that XRPL software carries out.

XRPL Moves Packages to New Repository XRPL software packages have been replaced on packages.xrplf.org and now have an XRP Ledger Foundation signing key. The update requires a node operator to update their repository configuration prior to installing the release if they are using version 3.3.0 or below.

This upgrade will require the running of one or more additional commands on some operators. The XRPL documentation provides manual instructions for Ubuntu installations affected by the repository change.

The amendments will take effect based on the outcome of validator voting. XRPL amendments must reach the required support level and maintain it through the activation period before the network adopts them.

Version 3.4.0 therefore provides the software for the proposed lending changes while leaving their activation to the XRP Ledger’s amendment voting process.

For more on XRPL, multi-purpose tokens support real-world asset issuers expanding on-chain debt and credit markets.

Clearpool, a decentralized marketplace focused on on-chain institutional credit, has outlined plans to extend its lending stack to the XRP Ledger. The firm positions the move as its next growth chapter, arguing that XRPL is a mature network whose institutional credit market remains comparatively undeveloped.

Rather than simply porting existing products, Clearpool intends to build lending infrastructure that sits on the ledger’s own proposed primitives.

Those primitives are Single Asset Vaults (XLS-65) and the Lending Protocol (XLS-66).

Vaults would pool a single asset under defined management rules.

The lending standard would then use that pooled liquidity to originate, service, and repay fixed-term loans at the protocol level, with issuance, interest, repayment, and accounting handled as ledger operations rather than as conventional smart-contract logic.

Loans on the new stack are expected to be denominated in RLUSD, Ripple’s regulated dollar stablecoin, with institutional custody support from Hex Trust.

The XRPL effort builds on an earlier collaboration. Clearpool supplies the marketplace and vault infrastructure.

Cicada Partners sources borrowers, underwrites credit, sets covenants, and monitors risk.

Ripple participates as a limited partner in the credit fund on the same terms as other investors, rather than as a backstop.

Clearpool says it has originated close to $1 billion in institutional loans since 2021, while Cicada cites more than $860 million in underwritten credit.

Together they present the XRPL deployment as a way to bring real-world, compliance-aware lending to a network that already embeds identity and permissioning features.

To fund incentives and expansion, Clearpool has put a governance proposal before tokenholders.

The plan pairs a treasury recapitalization with a 1:1 migration from CPOOL to a new token, CLEAR.

About 70 percent of the new supply would go to existing holders.

The remainder would be split among treasury, ecosystem, and contributors, lifting total supply modestly above the current one billion CPOOL.

Protocol fees would later support open-market buybacks and burns.

The vote is slated for Snapshot, and the company has framed the token change as inseparable from the XRPL product push rather than a standalone rebrand.

Mainnet launch still depends on XRPL validators approving the XLS-65 and XLS-66 amendments.

Related credit fund activity has already been tested on a development network.

Clearpool currently operates across several chains, including Ethereum, Optimism, Base, Arbitrum, Mantle, and Plume, and markets products ranging from T-bill-backed treasury pools to permissioned institutional credit and revolving facilities for real-world commerce.

The XRPL work is presented as an extension of that multi-chain liquidity layer into a network where settlement, compliance, and lending can sit closer to the base protocol.

If the standards activate and the community approves the token plan, Clearpool would become one of the first teams to run institutional-grade credit rails natively on XRPL.

The pitch is straightforward: pair an established credit marketplace with ledger-level vaults and loans, settle in RLUSD, and open a channel for fintech and payments firms that need short-term working capital on a network built for institutional settlement.

Bitcoin logo (public domain), by Grayliptrot via Wikimedia Commons (Public domain)

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have announced plans to establish cryptocurrency regulations independently of Congress. This move highlights the agencies’ commitment to a proactive regulatory framework for digital assets, particularly XRP and Bitcoin. In March 2026, both XRP and Bitcoin were classified as digital commodities, placing their regulatory oversight mainly under the CFTC. This classification suggests a commodity-style regulatory approach, although the SEC maintains authority over transactions involving investment contracts. The markets appear to be responding to this regulatory development with varied expectations for Bitcoin’s future price movements.

Key Takeaways The announcement by the SEC and CFTC suggests a proactive regulatory approach towards cryptocurrency. Markets are interpreting this development as potentially supportive of Bitcoin’s price, with some pricing reflecting increased confidence. Current market pricing implies skepticism about Bitcoin reaching higher price targets by the end of 2026, with low percentages for reaching $200,000. What to Watch Market participants will be closely observing any further regulatory announcements or guidelines from the SEC and CFTC, which could influence confidence in cryptocurrency markets. Additionally, developments such as potential legislative actions by Congress and Federal Reserve decisions on interest rates could impact Bitcoin price expectations. Observers should also watch for any significant institutional adoption or technological advancements that could affect market sentiment.

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Term Structure

Contract Odds Δ since publish Volume 24h December 31 1.1% 0.0¢ $754 View market → December 31 1.5% +0.1¢ $175 View market → December 31 2.5% 0.0¢ $615 View market → December 31 3.9% 0.0¢ $283 View market → December 31 5.5% 0.0¢ $2K View market → January 1 2027 19% 0.0¢ $10K View market → January 1 2027 6.5% -0.5¢ $107K View market → January 1 2027 1.7% 0.0¢ $5K View market → January 1 2027 1.1% 0.0¢ $4K View market → January 1 2027 1.5% 0.0¢ $38 View market → January 1 2027 3% 0.0¢ $400 View market → January 1 2027 4.9% 0.0¢ $1K View market → January 1 2027 9.5% -0.5¢ $4K View market → January 1 2027 18.5% +2¢ $38K View market → January 1 2027 4.5% 0.0¢ $5K View market → January 1 2027 0.9% 0.0¢ $26 View market → January 1 2027 1.9% 0.0¢ $2K View market → January 1 2027 13% +0.5¢ $6K View market → January 1 2027 6.5% 0.0¢ $348 View market → January 1 2027 3.5% 0.0¢ $2 View market → January 1 2027 1.9% 0.0¢ — View market → January 1 2027 2% 0.0¢ $231 View market → January 1 2027 1.4% 0.0¢ $5 View market → January 1 2027 0.4% -0.1¢ $256 View market → January 1 2027 0.4% -0.1¢ $2K View market → January 1 2027 26.5% 0.0¢ $9K View market → January 1 2027 62.5% +2.5¢ $7K View market → January 1 2027 64% +1.5¢ $28K View market → January 1 2027 41.5% 0.0¢ $1K View market → Updated 4min ago

XRP whales moved early as 85 new millionaire wallets appeared before the dramatic August breakout.

XRP’s recent 70% rally may have had an early on-chain signal. Santiment found 85 new wallets holding at least 1 million tokens appearing just two days before the August 17-21 surge.

That matters because these larger wallets can absorb supply and strengthen bids while shifting liquidity faster than retail traders. Changes in their numbers have often appeared ahead of XRP’s sharpest moves.

Millionaire Wallets Were Already on the Move There is also more happening around the XRP Ledger. Ripple backed an RLUSD credit fund focused on fintech and payments lending on XRPL. ZILO and Licuido investments brought tokenization plus transfer-agency and collateral-mobility rails into Ripple’s stack.

Looking toward the rest of the year, Santiment considers the setup to be constructive. Whale wallet numbers remain high, while RLUSD adds settlement utility and institutional tokenization gives XRP a story beyond retail hype.

Separately, AI is also moving further into Ripple’s treasury operations. Just last week, the company announced expanding GSmart to handle a wider range of work for enterprise finance teams. The new capabilities cover forecasting, liquidity, risk, reconciliation, and reporting, and are already being used by Ripple’s enterprise customers.

Despite the gains it had made previously, XRP took the biggest hit among major cryptocurrencies following the Senate’s failure to move the CLARITY Act forward. This is a major blow to an industry that has spent years pushing for a comprehensive US regulatory framework. Over the past day, the token has shed more than 8%.

The broader crypto market was awash in red by Tuesday afternoon as well.

You may also like: Why XRP Was Hit Hardest After the CLARITY Act Senate Failure Could XRP Actually Flip Bitcoin? Former Ripple CTO Says Yes – But the Math Is Brutal XRP Faces Key Test as Historical Pattern Points to Possible Pullback Bullish Setup Takes a Hit Crypto analyst Diana said XRP could face further downside after the token lost the $1.34 support level and fell quickly toward $1.26. The move weakened its earlier bullish setup, which had pointed toward the $1.70-$1.78 range. The bulls now need to defend the $1.24-$1.26 area.

If that level fails, the analyst said that $1.14-$1.10 could come into focus, followed by the $1.00 mark if XRP drops below $1.1. Diana also flagged that its one-hour RSI had fallen close to 21, which put the token in deeply oversold territory. That could trigger a short-term bounce.

On the institutional front, US-based spot XRP ETFs continued to attract capital. So far in August, they have raked in over $43 million in inflows. If the trend continues, these funds could extend their inflow streak to 10 consecutive weeks.

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Ripple’s long-term ally SBI Group and latest partner Kyobo Life Insurance completed the Japan-South Korea stablecoin-based cross-border proof-of-concept project. The firms performed a direct transfer between Japanese yen (JPY) and Korean won (KRW) stablecoins without relying on the US dollar as an intermediary currency.

SBI Group Tested Cross-Border Stablecoin Payment with Kyobo Japan’s SBI Group and South Korea’s Kyobo Life Insurance successfully conducted direct institutional fund transfers between the two countries using JPY and KRW-linked stablecoins. This proof-of-concept project began in July, with Canton Network as the test environment.

The firms verified a direct exchange between the yen stablecoin and the Korean won stablecoin, without needing to first convert to U.S. dollars. Previously, yen had to be converted first into US dollars and then into won, increasing both time and transaction costs.

Ripple’s partners SBI Group and Kyobo Life Insurance used Canton proof-of-concept trials to convert yen stablecoins directly to won stablecoins. They validated the process using test tokens.

Both parties stated that this model is expected to reduce time, and costs, and exchange rate risks in cross-border institutional fund transfers. The project also proved an operational model for safely handling digital assets transferred from overseas and their associated settlement funds domestically.

SBI and Kyobo Life Insurance plan to further cooperate in the Web3 ecosystem, including Japan-South Korea digital asset exchanges, asset management, and new business models based on transaction structures.

Ripple’s Expanding Deeper into Asia Markets Financial infrastructure and blockchain payments firm Ripple continued to push into Asia markets, especially Japan and South Korea. The region has seen growing adoption and regulatory developments as demand for cross-border payments, custody, and tokenization rises.

Ripple and SBI have collaborated since 2016. Recently, the firms partnered to launch RLUSD stablecoin in Japan. SBI Holdings has a 9% shareholding in Ripple worth $41.2 billion, playing a key part in XRP and XRP Ledger ecosystems.

Meanwhile, Ripple and Kyobo announced a partnership to pilot tokenized Korean government bond settlement on Ripple Custody and to assess stablecoin payment rails.

To scale these operations beyond testing phases, financial institutions rely on the industry’s leading stablecoin settlement platforms to handle multi-jurisdictional currency conversions.

Moscow Exchange has scheduled the Sept. 22 launch of perpetual futures tied to Bitcoin, Ether, Solana, XRP and Tron indexes, with the cash-settled contracts restricted to qualified investors.

Summary

MOEX will launch five perpetual crypto futures on September 22 for qualified market investors only. Contracts track Bitcoin, Ether, Solana, XRP and Tron indexes without delivering underlying digital assets physically. More than 72,000 qualified investors have traded MOEX crypto futures, the exchange said this week. Crypto futures turnover has exceeded 600 billion rubles since MOEX introduced contracts during last summer. Contracts will be dollar-quoted, ruble-settled and automatically rolled using daily funding calculations under exchange specifications. Moscow Exchange said in itsofficial Sept. 16 announcement that the products will operate as one-day futures with automatic rollover, giving investors exposure to cryptocurrency price movements without receiving or transferring the underlying digital assets. The exchange’s contract specification is set to take effect on Sept. 22.

The Sept. 16 announcement remains the latest MOEX launch notice located as of Sept. 17. No subsequent exchange notice reviewed changed the scheduled Sept. 22 start.

🇷🇺 BIG: Russia's largest exchange, the Moscow Exchange, will launch perpetual futures on BTC, ETH, SOL, XRP and TRX indices on September 22, available only to qualified investors. pic.twitter.com/H0lBUHGONJ

— The Crypto Johannes (@TheCryptoJonny) September 17, 2026 MOEX perpetual futures will cover five crypto indexes The new contracts will track five indexes calculated by Moscow Exchange. BTCUSDF will reference the MOEX Bitcoin Index, while ETHUSDF will follow the exchange’s Ether benchmark. SOLUSDF, XRPUSDF and TRXUSDF will track the corresponding Solana, XRP and Tron indexes.

MOEX already offers monthly futures tied to the same five cryptocurrency indexes. Bitcoin and Ether index futures began trading in November 2025, while contracts linked to Solana, XRP and Tron followed on May 14, 2026. Before the altcoin futures arrived, Moscow Exchange changed how its cryptocurrency benchmarks were calculated. Since May 13, the indexes have used prices from major cryptocurrency exchanges and update every 15 seconds during relevant trading periods. MOEX then uses the indexes to calculate settlement values for its existing contracts.

MOEX introduced indexes for SOL, XRP, TRX and BNB in May using data from Binance, Bybit, OKX and Bitget. At the time, the exchange said the benchmarks could later support new trading instruments. SOL, XRP and TRX subsequently became underlying indexes for monthly futures and will now receive perpetual contracts. BNB is not included in the five perpetual futures announced for Sept. 22.

Contracts settle in rubles without delivering crypto Although each new contract will be quoted in U.S. dollars using its corresponding index value, MOEX said financial settlement will take place in Russian rubles. Investors therefore will not need to hold Bitcoin, Ether, Solana, XRP or Tron to trade the products.

MOEX describes all of its current crypto futures as settlement contracts. At expiration or settlement, no cryptocurrency changes hands; only the financial result is calculated and settled through the exchange and participating brokers. Its product documentation says movements in USD/RUB affect the ruble value of the result because the underlying futures prices are expressed in dollars.

Unlike MOEX’s existing monthly crypto-index contracts, the new instruments are one-day futures with automatic rollover. Funding will be calculated under the exchange’s published specification, with MOEX setting the K1 parameter at 0% and K2 at 0.35%.

The exchange already runs perpetual futures across other asset categories. Its existing perpetual lineup contains 31 contracts covering currency pairs, MOEX indexes, the government bond index, precious metals and Russian and foreign securities. Maria Patrikeeva, managing director of the MOEX derivatives market, called the launch “an important milestone in the development of the Russian derivatives market.” She said the exchange was seeing “strong investor demand” for derivatives tied to digital assets.

Crypto futures demand has passed 600 billion rubles MOEX said more than 72,000 qualified investors have traded its digital-asset futures since the exchange began offering crypto-linked contracts, with cumulative transaction volume exceeding 600 billion rubles. The figures come from Moscow Exchange and have not been presented as Bank of Russia statistics.

The exchange’s current crypto derivatives product page still displays an earlier August snapshot showing 71,000 clients had traded crypto-related products since launch. It lists average daily turnover of 2.5 billion rubles during August and a record daily volume of 10.2 billion rubles on Aug. 21.

The newer 72,000 figure in the Sept. 16 release covers activity after that August snapshot. MOEX did not publish a separate breakdown showing how much of the cumulative 600 billion rubles came from Bitcoin, Ether, Solana, XRP or Tron contracts.

However, Moscow Exchange first entered regulated crypto-linked futures with a contract based on BlackRock’s iShares Bitcoin Trust ETF in June 2025. An Ether ETF-linked contract followed in August, before MOEX moved to futures directly referencing its own Bitcoin and Ether indexes in November.

As crypto.news reported when the first Bitcoin ETF future launched, access was restricted to qualified investors from the start. The IBIT-linked contract was quoted in dollars and settled in rubles, establishing the same basic cash-settlement structure later used for direct cryptocurrency-index futures.

MOEX’s 2025 annual report said more than 40,000 clients traded its crypto-linked contracts during that year, generating more than 212 billion rubles of turnover.

Russia still limits these derivatives to qualified investors The structure follows rules the Bank of Russia introduced in May 2025 for financial products tied to cryptocurrency prices. The central bank said financial institutions could offer qualified investors derivatives, securities and digital financial assets linked to cryptocurrency values, provided the products did not involve physical delivery of cryptocurrency.

MOEX repeats the restriction on its own crypto-futures page. Both individuals and legal entities must hold qualified-investor status to trade the exchange’s cryptocurrency futures, and brokers determine final client access.

Russia’s rules for direct cryptocurrency transactions changed on Sept. 1, 2026. Under the new legal framework described by the Bank of Russia, both qualified and non-qualified investors can access cryptocurrency through regulated intermediaries, although the two groups operate under different limits.

Non-qualified investors must pass a test and are limited to purchases of eligible liquid cryptocurrencies worth no more than 300,000 rubles per year through each intermediary. The Bank of Russia identified Bitcoin, Ether and USDT for retail access under its liquidity and price-history criteria. Qualified investors can trade cryptocurrencies without the same purchase ceiling after completing the required testing.

As crypto.news reported when the new framework took effect, the Sept. 1 rules created regulated routes for cryptocurrency trading and custody through supervised intermediaries. MOEX’s Sept. 22 perpetual futures remain a separate derivatives product and are limited to qualified investors under the exchange’s specifications.

The Bank of Russia expanded routes to qualified-investor status shortly before the new crypto framework started. Rules effective Aug. 31 allow individuals to qualify through approved Russian financial-market examinations and certificates, including a MOEX Investor Certificate, alongside existing asset, income, experience and education criteria.

Evernorth CEO Ashish Birla said RLUSD’s expansion on the XRP Ledger is central to deepening liquidity across the network, describing the dollar-backed stablecoin as “paramount” to XRP’s broader ecosystem. He said RLUSD’s share of XRP Ledger supply climbed from roughly 20% to 34%, a jump he called 642% growth.

Birla tied that growth directly to how global finance already operates. “Almost every financial product, equities, gold, and so forth, is usually paired and settled with US dollars,” he said, arguing a high-quality dollar stablecoin on the ledger is fundamental to building deeper order books, both on the XRP Ledger’s native exchange and decentralized platforms handling global trade.

Total Tokenized Asset Value Hits Record $4.4 Billion

The XRP Ledger’s total tokenized real-world asset value has reached a record $4.4 billion, according to Birla, a figure he pointed to as evidence institutional participation is accelerating rather than waiting on the sidelines.

Birla contrasted his experience meeting Wall Street institutions roughly a decade ago with more recent conversations. A decade back, he said, institutions nodded along to XRP and blockchain pitches but had no concrete plans, offering only proof-of-concept experiments. This past summer, meeting the same tier of institutions again, he found a different posture entirely. “They’re not waiting,” Birla said. “They are building teams. They are deploying. In their mind, this is happening.”

He pointed to BlackRock’s involvement through its BUIDL fund as one example of that institutional shift, alongside continued regulatory clarity from the SEC under Chairman Paul Atkins.

Evernorth’s Path to a Nasdaq Listing

Evernorth is progressing toward a Nasdaq listing pending a SPAC shareholder vote and final approvals. If the vote succeeds and the listing closes, Evernorth shares would trade under the ticker XRPN.

What the XRP Liquidity Report Shows About Retail Activity

Asked why retail account activity on the XRP Ledger hasn’t shown the same growth as institutional flows, Birla pointed to Evernorth’s regularly published XRP Liquidity Report, which the company uses to track ecosystem health. He said the data suggests larger institutional accounts are now driving a growing share of network volume, calling that a strong institutional signal rather than a sign retail participation is weakening.

Birla acknowledged room for improvement on the retail side, though. He said the broader XRP ecosystem needs to build more features and use cases specifically aimed at drawing everyday users into using and building on the network, calling it an area of further growth opportunity rather than a current weakness.

Story Ends Here

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