Track market-moving stories before they get noisy

A Bitcoin-Free Blueprint for AdvisorsGrayscale has launched a suite of model portfolios aimed at financial advisors, and its Digital Assets Next Gen strategy gives $XRP a 26.11% allocation, placing it as the second-largest holding in the fund. Ether (ETH) takes the top slot at 42.34% and Solana (SOL) follows at 21.09%. Combined, those three assets account for nearly 89% of the portfolio.

Notably, the model excludes Bitcoin entirely and spans seven crypto funds. A model portfolio is essentially a published recipe: Grayscale selects the assets and the weights, and an advisor copies that mix into client accounts using the firm's exchange-traded funds. The structure is designed to lower the barrier for traditional wealth managers looking to add digital assets to client holdings without building allocations from scratch. Beyond the top three, the remaining weight is spread across Hyperliquid, Chainlink, Avalanche, and Sui.

Context and CaveatsGrayscale's Global Head of Distribution, Laurie Katz, framed the launch around convenience, noting that advisors are increasingly looking for ways to bring digital assets into client portfolios without having to build and maintain allocations asset by asset.

Grayscale charges no separate fee for the models, and the underlying funds carry an average expense ratio of 0.23%. That said, the track record is thin. The model shows a 30.69% net gain since July 27, but that figure reflects just five weeks of history built on one strong August, with the rest of the return table empty.

Six of the model's seven underlying funds currently trade below where they launched. The Grayscale XRP Trust ETF (GXRP), a key vehicle for the XRP slice, sits 38.51% below its launch price. Advisors will need to weigh those figures carefully when presenting the strategy to clients.

The Next Gen portfolio represents a clear signal of where Grayscale sees demand growing: altcoin-heavy, advisor-facing products that sit alongside, rather than inside, more established Bitcoin-focused vehicles.

Sources:
BeInCrypto: Grayscale Just Made XRP 26% of Its New Portfolio for Advisors
GlobeNewswire: Grayscale Investments Launches Grayscale Model Portfolios

Following today’s Ripple news, XRP Ledger’s Batch V1.1 amendment has secured backing from 27 of the network’s 35 trusted validators, or arounf 77%. That leaves the upgrade one validator vote short of the 80% threshold XRPL requires to begin a 14-day activation countdown.

Batch V1.1 would let users bundle as many as eight linked transactions into a single atomic transaction operation, a change relevant to anyone tracking XRPL payment activity.

This is not simply a vote count creeping toward a number. Clearing 28 votes would only start the countdown clock, not switch the feature on. Support has to stay above 80% for the full two weeks, and validators can change their votes during that window, so the current tally is a trigger point rather than a confirmed outcome.

DISCOVER: Meme coin supercycle: Top performers this week

XRPL Upgrade News: What The Validator Vote Actually Unlocks The mechanism functions as follows: once 80% of the 35 trusted validators back Batch V1.1, the amendment enters its 14-day majority period. If support holds, the change activates; if it drops below the threshold before the window closes, the countdown resets. The amendment has not yet gone live on the main network, though it shipped in xrpld 3.3.0 and is currently up for validator vote.

In practice, Batch V1.1 would allow up to eight transactions to execute as one bundle: either all succeed, or all fail. A token swap between two parties could ensure both transfers are completed together rather than leaving one side exposed. Wallets and marketplaces could similarly pair a customer payment with a platform fee in a single operation, a detail that’s been picking up attention across ripple news coverage in recent weeks.

RippleX has said commercial projects built around Batch are already under contract or in development, though it has not named the companies involved.

The Batch V1.1 amendment shipped in xrpld 3.3.0 and is now up for voting.

After the v1.0 signature bug was caught in February (pre-Mainnet, no funds at risk), we rebuilt it: root-cause fix, 4 senior reviewers, a Sherlock attackathon, and audits from Halborn and Common Prefix. We…

— Mayukha Vadari (@msvadari) September 14, 2026

Ripple News: The Security Rewrite Behind Batch V1.1 Based on today’s Ripple news, the current version replaces an earlier Batch proposal that never reached Mainnet after researchers found a flaw that could, under certain conditions, let an attacker include another account’s transactions without approval. Because that version was withdrawn before activation, no funds were ever at risk, according to the XRPL vulnerability disclosure report. Developers replaced it in the Aug. 6 release of XRP Ledger’s 3.3.0 software.

RippleX detailed the follow-up review in a technical write-up published on dev.to, describing checks from four senior engineers, audits from Halborn and Common Prefix, a public Sherlock security contest, and automated testing.

That process turned up 11 additional issues involving signatures, authorization checks, and bugs capable of crashing servers, one of which Common Prefix rated critical because it could have let an attacker reuse a signed permission to execute more transactions than intended.

Industry Implication: Payments Infrastructure Still Waiting On A Vote If Batch V1.1 clears the threshold and holds for 14 days, it would give XRPL a native tool for coordinating multi-step payment flows without relying on smart-contract logic. This is relevant to settlement use cases like agentic transaction rails and stablecoin activity tied to RLUSD settlement volume.

RippleX’s claim of contracted commercial projects remains unverified against named counterparties, and broader forecasts about Batch reshaping XRPL’s competitive position against smart-contract chains are research-only at this stage. For now, the concrete fact is narrower: one validator, one vote, and a 14-day clock that has not yet started.

Market Intelligence: Crypto Analyst Predicts Best New Crypto to Hodl

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Web3 News, XRP News

Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. A crypto native since 2017, Daniel leverages his background in on-chain analytics to author evidence-based reports and deep-dive guides. He holds certifications from The Blockchain Council, and is dedicated to providing "information gain" that cuts through market hype to find real-world blockchain utility.

Senate Republicans released a revised CLARITY Act draft hours before the cloture vote. It runs to 635 pages, up from 616, and one of the new pieces defines an ancillary asset in a way that settles XRP’s status in secondary markets regardless of how much of it Ripple holds.

Summary

Senate Republicans circulated a revised CLARITY Act text shortly before the September 15 cloture vote, expanding the bill from roughly 616 pages to 635. The draft defines an ancillary asset separately as a network token whose value depends on the entrepreneurial or managerial efforts of an originator or someone related to the originator. Under the revised language, XRP would be treated as a digital commodity in secondary markets regardless of the quantity Ripple holds, and no provision in the bill causes an ancillary asset to stop being a network token. The revision arrived alongside a reported White House concession on expanded conflict-of-interest rules and state-level enforcement powers, both aimed at securing Democratic votes. The cloture vote on the motion to proceed requires 60 votes, and Republicans hold 53 seats. Legislative text is usually written months before anyone votes on it, which is what makes the last twenty-four hours unusual. Senate Republicans released a revised CLARITY Act draft shortly before Tuesday’s cloture vote, and the bill grew from roughly 616 pages to 635 in the process. Nineteen pages is not a rounding error in a document that has been negotiated since 2025, and the additions are not housekeeping. One of them defines an ancillary asset as a separate category: a network token whose value depends on the entrepreneurial or managerial efforts associated with an originator, or with someone related to the originator. Read plainly, that language classifies XRP as a digital commodity in secondary markets no matter how much XRP Ripple holds on its balance sheet, and the draft specifies that nothing in the bill causes an ancillary asset to stop being a network token. A single definition, inserted overnight, resolving the question that produced a three-year lawsuit. Whoever wrote it knew exactly what they were doing, and the more interesting question is why it needed writing at this hour.

What the new language does Start with the mechanism, because the distinction it draws is the whole point.

American securities law has spent seventy years asking whether an arrangement is an investment contract, which turns on whether buyers expect profits from the efforts of others. Applied to a token, that test produces a problem the courts have never resolved cleanly: the same asset can be a security when sold by its issuer under a promotional arrangement and something else entirely when traded between strangers on an exchange years later.

The 2023 district court ruling in the Ripple case landed exactly there. Programmatic sales on exchanges were held not to be securities transactions. Institutional sales under contract were. Same token, different treatment, depending on the circumstances of the sale.

The revised CLARITY draft appears to codify that split and extend it. By defining an ancillary asset as a category of network token, and specifying that nothing in the bill causes such an asset to cease being a network token, the language fixes the classification to the asset instead of leaving it to be re-litigated per transaction.

And the phrase doing the heavy lifting is the one about quantity. Under the draft, XRP is a crypto commodity in secondary markets regardless of how much XRP Ripple holds. That matters because concentration has been the argument against treating XRP as decentralised enough to escape securities treatment. A company holding a large share of supply, with escrow releases on a schedule, exercising influence over the network’s direction, looks unlike bitcoin and looks somewhat like an issuer. The new language makes that observation irrelevant to the classification question.

Why nineteen pages the night before Bills do not usually grow at this stage, and the fact that this one did tells you something about the vote count.

Cloture on the motion to proceed requires sixty votes. Republicans hold fifty-three, at least two of whom have been expected to defect on general grounds. The arithmetic has required Democratic crossover all year, and the Democrats who spent the summer negotiating walked away in July over the ethics provision.

What appears to have happened is a simultaneous concession on two fronts. Reporting indicates the President agreed to expanded conflict-of-interest rules and, significantly, state-level enforcement powers, which was the specific Democratic objection to the July text. That version assigned sole enforcement to the Justice Department, and Democrats rejected it the same day on the grounds that the department answers to the person the provision restricts.

State attorneys general holding enforcement authority is a materially different proposition. It creates a route that does not run through a presidential appointee, and it is close to the mechanism Democrats were asking for when negotiations collapsed.

So the revised draft is doing two jobs at once. It is buying Democratic votes with the ethics concession, and it is delivering something to the industry side in the same document. That is how a bill gets to a floor vote it was expected to lose, and it explains the timing: concessions negotiated in the final hours produce text released in the final hours.

The question of who asked for it Worth stating carefully, because the honest answer is that nobody can currently attribute the language.

Legislative text emerges from committee staff, leadership offices, agency technical assistance, and outside counsel, and by the time a draft circulates, authorship is diffuse by design. The ancillary asset definition may have been drafted by Banking Committee staff working through a classification problem on the merits. It may have come from technical assistance. It may have arrived through the ordinary lobbying process that every industry runs and that this one runs harder than most.

What is documented is the scale of the industry’s political operation. Our audit of that spending found a super PAC network entering this cycle with a war chest measured in the hundreds of millions, with Ripple among the largest single contributors, and crypto accounting for a substantial share of all corporate election spending. An industry that spends at that level does not do so to observe legislation passively.

None of which establishes that anyone bought a definition. It means that a provision resolving one company’s central legal question, inserted hours before a vote, in a bill that company’s political network spent heavily to advance, is a provision worth asking about. Journalism’s job here is the question, not the accusation, and the answer will emerge from the amendment record and the committee report rather than from speculation.

What it would actually settle If the language survives to enactment, three things change for XRP and they are worth separating from the things that do not.

Secondary market classification becomes statutory. Today XRP’s status in secondary markets rests on a district court ruling from 2023 that was never appealed and has never been tested at the circuit level. That is a considerably weaker foundation than most holders assume. A statutory definition replaces judicial interpretation with text, and text does not get reversed by a different panel reading the same facts.

Concentration stops being an argument. The quantity Ripple holds has been the strongest available case against XRP’s commodity treatment. Removing it forecloses a line of attack rather than winning it.

And institutional participation gets easier. Asset managers, banks, and custodians run legal risk assessments before touching an asset, and an unappealed district court ruling scores worse in that process than a federal statute. Seven asset managers have filed for XRP spot ETFs on the expectation that Congress would resolve this, and the resolution is what several of them are waiting on.

What it does not settle is equally specific. It does not address Ripple’s own sales, which is where the original case was actually lost. It does not create the registration regimes for exchanges and custodians, which require years of agency rulemaking. And it does not reach the SEC’s interpretive framework, which continues to govern everything the statute does not.

The part that should worry XRP holders Here is the uncomfortable half, and it follows directly from the same observation.

If a definition inserted overnight can settle XRP’s classification, a definition removed in the amendment process can unsettle it. The bill has not passed. Tuesday’s vote is cloture on the motion to proceed, which is a vote to begin debating, and debate is where amendments happen.

An amendment process on a 635-page bill with a contested ethics title and an industry with visible fingerprints is not a friendly environment for a provision that plainly benefits one company. Senators looking for something to strike in exchange for a vote will find this language quickly, because it is new, it is specific, and it is attributable to nobody.

So XRP holders reading Tuesday as a resolution should hold that lightly. Cloture succeeding means the bill enters a process in which the most recently added and least defended provisions are the most exposed. The ancillary asset definition is, right now, the newest thing in the document.

There is also the scenario nobody is pricing. Cloture fails, the bill returns in the next Congress, and the definition does not survive the reconstruction, because the political configuration that produced it will not exist in the same form after November.

The precedent for a last-minute definition Provisions inserted at the final hour have a record in American financial legislation, and it is not encouraging for anyone hoping this one is durable.

The pattern is familiar. A long-negotiated bill reaches a procedural vote short of the count. Concessions are traded in the final days. Text is revised, circulated, and voted on before most members or their staff have read it. The provisions added in that window are the ones with the least deliberation behind them, the thinnest legislative record, and the weakest claim to having been considered on their merits.

That matters later in two specific ways.

Courts read legislative history. When an agency writes a rule and someone sues, the question of what Congress intended gets answered partly from committee reports, floor statements, and hearing records. A definition inserted overnight has almost none of that. A judge asked what Congress meant by entrepreneurial or managerial efforts associated with an originator will find the phrase and very little explaining it, which leaves interpretation wide open.

And thin provisions get traded first. In conference, in a second chamber, or in a future amendment cycle, the items removed are the ones nobody has invested political capital defending. A provision with a hearing record, testimony, and a named sponsor has constituency. A phrase that appeared in a revision has none.

There is a reasonable counter. Sometimes late additions are late because they are technical corrections that only became apparent when the full text was assembled, and classification definitions in a 635-page bill genuinely can surface that way. Not every eleventh-hour insertion is a favour.

The distinguishing evidence, when it arrives, is in the record. A definition that appears in the committee report with an explanation of the problem it solves is a technical fix. A definition that appears in the text with no accompanying rationale, resolving a live question for a specific company, is something else, and the report is public when it publishes.

What Tuesday actually decides The vote is narrower than the coverage suggests, and precision here prevents a lot of misreading.

Cloture on the motion to proceed requires sixty votes and determines only whether the Senate begins debate. It is not a vote on the bill, it does not pass anything, and success would leave a second cloture vote, an amendment process, and House concurrence still ahead, with a compressed calendar running into the midterms.

Estimates of eventual passage have diverged sharply. Prediction markets have priced 2026 enactment around twenty percent. Galaxy Digital and the Solana Policy Institute have both assigned roughly ten. Those are different numbers pricing subtly different questions, and none of them is a forecast of Tuesday specifically.

What Tuesday does deliver is information. A roll call produces a list of names, and the names tell you whether the ethics concession worked, which Democrats moved, and whether the coalition exists for a second attempt. Our status page on the bill tracks where it stands, and our read of the merged text covers what the 616-page version contained before this revision.

What the definition means for everything that is not XRP The coverage has framed this as an XRP provision, which is understandable and incomplete. A definition written into statute applies to every asset meeting it, and the drafting language is broad.

A network token whose value depends on the entrepreneurial or managerial efforts associated with an originator describes an enormous share of the market. Almost every token outside bitcoin has an originating entity, a foundation, a development company, or a core team whose work plainly affects the asset’s value. Solana has a foundation and Labs. Cardano has three organisations. Most of the assets in the top fifty would meet that description on any honest reading.

Which means the provision is either much bigger than an XRP fix, or it is narrower than its plain text suggests and the narrowing happens somewhere else in the 635 pages.

Both readings have consequences. If the definition is broad, the bill classifies most of the market as digital commodities in secondary markets, which is close to what the industry has been asking for and would represent the single largest change in American crypto law. If it is narrow, the qualifying conditions sit in provisions nobody has yet read closely, and the XRP-specific reading circulating now is an inference from one clause in a document released hours ago.

The honest position is that nobody outside the drafting rooms currently knows which it is, including the commentators confidently asserting the XRP interpretation. A 635-page bill released the night before a vote has not been read by the people describing it, and that includes everyone writing about it today.

What can be said is that if the broad reading holds, the ancillary asset definition is the most consequential provision in the bill and is being discussed as a footnote about one token. That would not be the first time a classification definition turned out to matter more than the titles around it.

Why the quantity language is the tell Of everything in the new text, one phrase deserves more attention than it has received, and it is the clause about how much the originator holds.

Specifying that an asset qualifies regardless of the quantity the originator holds is not how definitions normally work. A classification usually states what something is. This one states what something is and then pre-emptively forecloses a specific counterargument.

Drafters do that when they know the counterargument is coming and they know who will make it. Supply concentration is the central objection to treating any originator-linked token as sufficiently decentralised, it has been made repeatedly in enforcement actions and in academic commentary, and it is the strongest available argument against the treatment this provision grants.

So the clause is defensive drafting, and defensive drafting is evidence about the drafter’s expectations rather than about the merits. Someone anticipated that an agency, a court, or a future Congress would point at holdings and say the originator’s influence is too large for commodity treatment. The language removes that move in advance.

Whether that is good policy is a real question with arguments on both sides. Fixing classification to the asset produces certainty, and certainty is what markets have been asking for. It also means a token held overwhelmingly by its creator, with releases on a schedule controlled by that creator, receives the same treatment as an asset with no controlling entity at all, which is a substantive policy choice presented as a definitional one.

The reason to flag it is that definitional provisions attract far less scrutiny than substantive ones during a markup, and this is a substantive choice wearing a definition’s clothes. Anyone tracking the amendment process should watch this clause specifically, because it is the part that does the work.

How to read Tuesday if you hold XRP Practical, because the token has a documented history of reacting to this exact category of news and then giving the move back.

In May, XRP rose above $1.50 after the Senate Banking Committee advanced the bill 15-9, then retraced to around $1.40 as early buyers took profit. In July, it climbed roughly 3.5% intraday, from about $1.11 to $1.1511, after the President agreed to the ethics provision that had been blocking negotiations, finishing third among the top fifty gainers with roughly $2.93 million of leveraged shorts liquidated on the way up.

Both moves faded.

The reason both faded is the same and it is worth stating bluntly: neither event changed XRP’s legal position. A committee vote and a White House concession are steps toward a law. The day after each, the token stood exactly where it had stood the day before, with the same district court ruling as its foundation and the same absence of statute behind it.

A cloture vote is the same category of event. Succeeding means debate begins. It does not classify anything, it does not bind any agency, and it does not remove the appellate exposure sitting under the 2023 ruling.

Which produces a specific instruction for anyone trading this. The move that matters is not the vote, it is enactment, and enactment is at minimum a second cloture vote, an amendment process, and House concurrence away, into a calendar running toward the midterms. Estimates of that happening in 2026 sit between ten and twenty percent depending on whose model you use.

XRP trades around $1.40, up roughly 4% in a day, against a July 2025 high of $3.65. Some portion of that recent strength is the market pricing a favourable outcome for the third time this year. The first two times, the pricing was wrong not because the direction was wrong but because the event was smaller than the reaction.

What to watch Whether the ancillary asset language survives markup. The newest provision in a contested bill is the most exposed, and its presence in the final text is a different question from its presence today.

The roll call, not the result. Which Democrats voted yes is the list that determines whether a second attempt is viable and what it costs.

Whether the state enforcement concession is real. Reporting indicates the President agreed to it. What appears in the text, and how it is bounded, is the test of whether the concession was substantive or nominal.

XRP’s reaction against its own history. The token has rallied on procedural CLARITY news twice this year, in May after the committee vote and in July after the ethics agreement, and gave both moves back because neither changed its legal status. A third such move would be the market repeating a mistake it has already made twice.

The appellate question underneath. Whatever happens to the bill, the 2023 district court ruling remains untested at the circuit level. Legislation is the only thing that removes that exposure, which is precisely why this vote matters more to XRP than to most assets.

Frequently Asked Questions What is an ancillary asset under the CLARITY Act? The revised draft defines it separately as a network token whose value depends on the entrepreneurial or managerial efforts associated with an originator or a person related to the originator. The draft also specifies that no provision in the legislation causes an ancillary asset to stop being a network token, which fixes the classification to the asset instead of leaving it to be determined transaction by transaction.

How does it affect XRP? Under the revised language, XRP would be treated as a crypto commodity in secondary markets regardless of how much XRP Ripple holds. Concentration of supply has been the strongest argument against commodity treatment, and the provision removes it from the classification question entirely.

When was this added? Senate Republicans circulated the revised text shortly before the September 15 cloture vote, expanding the bill from roughly 616 pages to 635. Nineteen pages of additions in the final hours before a procedural vote is unusual for legislation negotiated over more than a year.

Why was it added now? The revision appears to accompany a reported White House concession on expanded conflict-of-interest rules and state-level enforcement powers, which were the specific Democratic objections to the July ethics text. Concessions negotiated in final hours produce text released in final hours, and the bill needs at least seven Democratic votes to reach sixty.

Does this mean XRP’s legal status is settled? No. The bill has not passed. Tuesday’s vote is cloture on the motion to proceed, meaning a vote on whether to begin debating, and debate is where amendments happen. A provision added overnight, benefiting one company, in a bill with a contested ethics title, is among the most exposed items in the text.

What does XRP rely on today? A 2023 district court ruling holding that programmatic sales on exchanges were not securities transactions. That decision was never appealed and has never been tested at the circuit level, which is a weaker foundation than many holders assume. Statutory language is what would remove that exposure.

What happens if the cloture vote fails? The bill does not advance, leadership decides whether to refile or move on, and market structure legislation likely slips past the midterms. XRP’s classification would continue to rest on the district court ruling and on the joint SEC-CFTC interpretive framework, which is agency policy a future commission can withdraw.

Should XRP holders expect a price move? The token has rallied on procedural CLARITY developments twice this year and given both moves back, because a committee vote and a White House concession are steps toward a law and not a law. A cloture vote is the same category of event. This is educational analysis, not investment advice.

Disclaimer: This article is for information and educational purposes only and does not constitute financial, investment, or legal advice. It describes draft legislation that has not passed and whose provisions may change or be removed, and nothing here alleges improper conduct by any party. Always do your own research. Information is accurate as of September 15, 2026.

TLDR Firelight plans to use deposited FXRP as collateral to back DeFi coverage, letting XRP holders earn premiums as yield. Withdrawal times could stretch from today’s 1-2 days to roughly 30-60 days once 30-day coverage periods begin. Rewards stop the moment a holder starts unstaking, even though the exit process can take weeks to finish. A claim tied to an earlier coverage period can still lower the amount of FXRP a holder receives back. Firelight has attracted about $72 million in deposits, but it’s unclear how much paid coverage it has actually sold. Firelight, a protocol built on the Flare network, is preparing a system that lets XRP holders earn yield by backing coverage for DeFi users. Holders deposit an XRP-linked asset and get paid when customers buy protection.

But the plan comes with a tradeoff. Getting that money back out could take far longer than it does today.

How The Vault Works Holders deposit FXRP, an XRP-linked asset on Flare, into a Firelight vault. In return, they receive stXRP, a token that represents their position in the vault.

In the next phase of the protocol, Firelight plans to use that deposited FXRP as collateral to back coverage sold to DeFi protocols. Customers who buy this protection pay premiums, and that money becomes income for the people supplying the collateral.

Right now, Firelight uses one-day coverage periods. That keeps withdrawal times short, at about one to two days.

Once the protocol moves to 30-day coverage periods, the same process will stretch withdrawal times out. A holder who exits near the end of a period could wait just over 30 days. Someone who exits near the start of a period could wait closer to 60 days.

Firelight has not confirmed an exact launch date for this next phase. A funding announcement from September 1 pointed to a September rollout of the protocol and its first coverage deals, without naming a specific day.

What Happens During The Wait Once a holder starts the unstaking process, rewards stop right away. The stXRP is redeemed at that moment, and its value is recorded.

But the FXRP is not free of risk yet. For the rest of that coverage period, it still backs active coverage and can be reduced if a claim occurs.

After that period ends, the FXRP no longer backs new coverage. However, a claim tied to an earlier period can still lower the final amount the holder receives.

That means the value recorded when a holder begins unstaking is not a guarantee. The final payout can end up lower than expected.

After the waiting period ends, holders must submit a separate transaction to withdraw their funds. Until they do, the assets stay in the vault.

Firelight has already attracted a large amount of deposits ahead of this change. DefiLlama recorded $71.74 million in total value locked in a September 13 snapshot.

That figure reflects deposits only. It does not show how much coverage Firelight has actually sold or how much premium income it has collected so far.

To limit losses for depositors, Firelight has a separate reserve called the First-Loss Buffer. This stablecoin reserve pays out validated claims first, before any loss reaches staked FXRP.

If a loss is larger than the buffer, the remaining amount is spread across vault positions. Holders would then keep the same number of shares, but each share would be worth less FXRP.

Firelight also limits how much coverage it can sell based on how much capital is available to cover losses. The protocol is designed to stop offering new coverage if that ratio drops too low.

For now, XRP holders have shown willingness to deposit collateral. Whether the coverage business can generate enough paid premiums to make the yield worth the wait and the risk remains to be seen.

Digital Asset Investor, a well-known figure in the crypto community, commented on the potential impact of the CLARITY Act on XRP’s price. The discussion has intensified ahead of the Senate cloture vote scheduled for September 15, when at least 60 votes will be needed to advance the bill. All 53 Senate Republicans have committed to supporting the legislation, with reports indicating that between 7 and 10 Democrats may also vote in favor.

Senate vote draws market focusAccording to Digital Asset Investor, the passage of the CLARITY Act would create immediate momentum for XRP’s price, potentially leading to a significant rally. The legislation aims to provide a clear regulatory framework for digital assets, which has long been a point of uncertainty for XRP and other cryptocurrencies.

He addressed the possibility of the bill not passing, suggesting that such an outcome would not end positive prospects for XRP. Instead, he argued that the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) would quickly move to implement their own rules. He expects this regulatory intervention to ultimately boost market confidence, which could result in a slower but steady price increase for XRP once clarity emerges.

Discussing short-term market movements, Digital Asset Investor pointed to a short-term decline in XRP’s price as a potential opportunity for accumulation if the vote fails. He described any dip after a failed vote as a buying opportunity for investors looking at long-term gains.

If the CLARITY Act passes, Digital Asset Investor sees XRP skyrocketing almost immediately. If the bill stalls, he anticipates regulatory agencies will step in within days and bring new rules, leading to eventual price appreciation after a possible initial dip.

Liquidity outlook and institutional interestDigital Asset Investor’s perspective goes beyond the immediate effects of the Senate vote. He believes that regulatory clarity could unlock new liquidity in the crypto market, especially for assets like XRP, as institutional and retail investors gain confidence in the legal landscape.

He expects significant market growth over the next two years, as clearer regulations encourage greater integration of digital assets into the broader economy. That timeline aligns with rising institutional interest and involvement in the digital asset sector, particularly from traditional finance players.

US Treasury Secretary Scott Bessent has called on the Senate to move forward with the CLARITY Act, noting that inaction could cause the US to lose ground in the rapidly evolving digital asset market. Senator Cynthia Lummis, one of the bill’s architects, emphasized that Democrats played a vital role in shaping the legislation, which contains over 100 policy wins for the party.

Implications for XRP and regulationThe CLARITY Act is set to define which digital assets fall under SEC jurisdiction and which are subject to oversight by the CFTC. This distinction is closely watched by XRP holders, given Ripple’s prolonged legal battles with the SEC and XRP’s status as a major cryptocurrency facing direct regulatory scrutiny.

Digital Asset Investor maintains that the market’s direction is already set toward increased regulation. He believes that a “yes” vote could lead to an immediate price surge, while a “no” vote would only temporarily delay a similar outcome as regulators step in with new guidance.

Against this backdrop, traders increasingly look for efficient ways to react to rapid shifts around events like key regulatory votes or surprise altcoin listings. In an environment where market sentiment can pivot instantly on a single federal decision, many investors have begun consolidating their tools for real-time monitoring. Some now use privacy-focused platforms such as CryptoAppsy to check smart price alerts, up-to-date charts, portfolio status, and macroeconomic data all in one place, without registration requirements. This approach helps minimize delays and costs by eliminating the need to switch between separate applications.

The bill’s outcome may either accelerate immediate price movement for XRP or briefly delay it before similar regulatory-driven rallies, with both scenarios leading the market toward regulatory clarity.

XRP continues to draw heightened interest as the pivotal Senate vote on the CLARITY Act approaches, with market participants preparing for increased volatility and potential shifts in the regulatory landscape.

XRP is trading at $1.40, up 4.3% over 24 hours, a bounce from the $1.34-$1.35 range it held for much of the week, against a backdrop of unusually busy institutional and infrastructure news across the Ripple ecosystem.

Smart Money and Retail Are Moving in Opposite Directions

On-chain data shows a widening gap between retail and institutional XRP activity, with retail traders losing nearly twice what they’re gaining while larger holders do the opposite. The data flagged $1.3459 as a level where a wave of retail selling coincided with accumulation from larger wallets, the same pattern seen just before XRP’s run to $1.68 in August.

A European Manufacturer Plugs Into Ripple’s Treasury Stack

German logistics and manufacturing giant TRATON has connected to Ripple’s treasury infrastructure, gaining access to both XRP and RLUSD on the same platform without needing new vendors or wallets. 

RLUSD lets the company move money across borders in minutes rather than days before converting to local currency, while XRP is treated like a standard bank account with a full audit trail, real-time valuation and 15-decimal precision. 

First Public-Chain Tokenized Fund Cleared by an EU Regulator

Aviva Investors has launched a tokenized share class of its USD Liquidity Fund on the XRP Ledger in partnership with Ripple, approved by the Central Bank of Ireland, marking the first public-chain tokenized fund structure cleared by a major EU regulator. 

The operational stack spans BNY Mellon for underlying asset custody, Komainu for digital asset custody, and Licuido for tokenization infrastructure, with the fund retaining the same investment objective, risk profile and regulatory protections as its traditional share class under a “digital twin” model.

Ripple Eyes Institutional Lending as XRP’s Next Use Case

Ripple product head Jazzi Cooper says institutional credit remains largely untapped in on-chain finance and could become a significant new role for XRP. The XRP Ledger’s Lending Protocol already enables fixed-term loans funded through Single Asset Vaults, with borrowers undergoing offchain underwriting while the lending itself runs on XRPL infrastructure. A protocol update is expected alongside XRPL 3.4.0 next week.

RLUSD Supply Surges Past $2.4 Billion

RLUSD’s total supply has climbed to roughly $2.42 billion, split between $1.37 billion on Ethereum and $1.05 billion on the XRP Ledger, up more than 50% over the past 30 days. 

Ripple Expands Its Team and Global Presence

Ripple has hired Craig Beveridge as VP of Talent Acquisition, following five years building out talent acquisition at Cedar, as the company continues staffing up heading into its next growth phase. 

Ripple’s Abdallah Mukalled, Senior Policy Manager for the Middle East and Africa, is set to speak at the Middle East Stablecoin Forum 2026 in Dubai on September 17, an event expected to draw more than 300 participants and 30-plus speakers, including regulators and banks from across the GCC region.

All Eyes on Tuesday’s CLARITY Act Vote

Adding urgency to the week, Senate Majority Leader John Thune is reportedly urging Democrats to advance the CLARITY Act in Tuesday’s procedural vote, with the understanding that further changes could still be negotiated afterward. 

Commentators following the bill describe Tuesday’s cloture vote as the closest crypto legislation has come to clearing this specific hurdle, with significant attention on whether it succeeds.

Story Ends Here

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

Read the Next News

Ripple’s footprint across institutional finance kept expanding this week, from XRP being adopted as collateral for institutional credit lines to a new seat at the table with the City of London’s tokenization initiative. Here’s everything worth knowing from the past seven days.

XRP Emerges as Institutional Collateral

XRP is increasingly being used as collateral for institutional credit lines, a development enabled by the XLS-65/66 lending protocol now live on the XRP Ledger. Ripple Prime already accepts XRP as eligible collateral alongside Bitcoin, RLUSD, fiat currency, gold and treasuries. 

Adding to that momentum, a September 8 SEC filing from Charles Schwab revealed that XRP ETFs are now being used as repo collateral, with usage reportedly growing quickly, a signal of deepening institutional trust barely a year after Ripple’s SEC litigation concluded.

Ripple Joins UK’s Tokenization Push

The City of London has allegedly named Ripple among 54 firms partnering with the UK’s Wholesale Digital Markets Champion over the next 12 months to help scale tokenization adoption and establish clearer regulatory, legal and tax frameworks. The relationship isn’t new. Ripple completed a proof-of-concept with the Bank of England back in 2017 and has spent years providing input on digital asset regulation in the region. The company also secured an EMI license and FCA approval in 2026, allowing it to operate across the UK.

A New Face at RippleX

Ripple has hired Brian Beck, previously of Google and PayPal, to lead developer relations and ecosystem growth at RippleX. His role centers on helping developers turn the XRP Ledger into products that businesses and consumers actually use day to day.

Evernorth’s Nasdaq Debut Brings a Massive XRP Stake

Evernorth is expected to hold at least 473 million XRP once it lists on Nasdaq, making it the first publicly traded company built entirely around a mission of increasing XRP’s value.

A 2018 Brussels Meeting Resurfaces

A photo circulating this week shows former Ripple executive Dan Morgan seated alongside senior European Parliament and European Commission policymakers, along with DTCC’s global policy lead, at a 2018 meeting in Brussels discussing the future of finance, a reminder that Ripple’s presence in European regulatory circles goes back years.

Heavy Trading Activity on Binance

XRP recorded its largest single-day combined inflow and outflow on Binance in six months on September 11, with $91.2 million moving in and $113.9 million moving out, while exchange reserves barely shifted. Experts described the activity as supply being reshuffled rather than any clear directional move, with funding rates cooling and liquidations occurring on both sides of the market.

Where Price Stands

XRP is trading near $1.36 after sweeping liquidity around the $1.34 level, a pattern some analysts say mirrors August’s setup, when XRP swept liquidity near $1.00 shortly before rallying to $1.62.

Story Ends Here

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

Read the Next News

Key Highlights XRP currently trades in the $1.35–$1.37 range, unable to break the crucial $1.40 resistance Roundhill’s XRP Covered Call ETF launch postponed until October 11, 2026 Teucrium’s 2x Short Daily XRP ETF also delayed to October 11 XRP ETF products manage $1.45 billion in total assets with no net inflows recorded on September 11 Network transactions on XRP Ledger plummeted more than 55%, signaling declining user engagement As of mid-September, XRP remains confined to a narrow trading corridor between $1.35 and $1.37, struggling to overcome the stubborn $1.40 ceiling that has repeatedly rejected upward attempts. The digital asset continues to oscillate within a defined range, with $1.30 acting as a floor and $1.40 serving as the upper boundary, leaving traders without a decisive directional move.

XRP Price Technical indicators paint a mixed picture. The Relative Strength Index on the daily timeframe registers approximately 51.7, trailing its signal average of 58.2. Meanwhile, on the four-hour chart, the MACD line recently crossed above its signal counterpart, though both indicators remain in negative territory. This configuration suggests that selling momentum hasn’t completely dissipated.

During August, XRP mounted an impressive rally, surging from the $1.00 level to beyond $1.50, momentarily touching $1.70. However, since reaching those peaks, the cryptocurrency has repeatedly failed to recapture the $1.45–$1.50 territory and has been establishing progressively lower peaks in recent sessions.

$XRP WAVE 3 LOADING… 🔥

Price is trapped between yellow support and orange resistance, A confirmed breakout will unlock the ballistic phase.

Defend $1.33–$1.29 → projected road to $10.11 –$18.22.

THIS MOVE WILL BE MASSIVE. 💥📈@DefendDark ℹ️ pic.twitter.com/PXMXPaG0I0

— XRP Update (@XrpUdate) September 12, 2026

Regulatory Approval Timeline Extends to Fall Roundhill Investments has extended the launch timeline for its XRP Covered Call ETF until October 11, 2026. This investment vehicle aims to blend direct XRP exposure with a covered call options framework designed to produce regular income, targeting investors seeking yield generation over speculative price appreciation.

Cryptocurrency market observer Xaif Crypto weighed in on this postponement, highlighting that Roundhill’s revised timeline coincides with the Teucrium 2x Short Daily XRP ETF’s target date. “Wall Street isn’t just buying XRP anymore, they’re building whole strategies around it,” the analyst wrote.

📄 SEC filing alert:

Listed Funds Trust just delayed the effectiveness of the Teucrium 2x Short Daily XRP ETF to October 11, 2026.

A 2x SHORT XRP ETF is literally in the pipeline. Institutions aren't just betting up on XRP they're building tools to bet against it too.

Two-way… https://t.co/qJBDF2YDSr pic.twitter.com/QUu0Ic7sSY

— 𝗕𝗮𝗻𝗸XRP (@BankXRP) September 12, 2026

Listed Funds Trust similarly postponed its Teucrium 2x Short Daily XRP ETF to the same October 11 date. This leveraged product takes an inverse position, aiming to deliver profits when XRP experiences daily price declines — representing a contrarian approach compared to Roundhill’s yield-focused strategy.

These postponements shouldn’t be interpreted as regulatory denials. Both financial products remain under review, advancing through standard compliance procedures, with market participants anticipating final documentation before the October target window.

XRP Ledger Usage Experiences Significant Decline Data from SoSoValue indicates that XRP exchange-traded funds saw no net capital inflows on September 11. The five currently listed XRP ETF products collectively hold $1.45 billion in assets under management, representing 1.70% of XRP’s total market capitalization. Bitwise maintains the dominant position with $499.49 million in managed assets.

Activity metrics across the XRP Ledger reveal a concerning contraction. Overall transaction volume decreased 55.6% to 1.2 million operations, while confirmed successful transactions fell 59.5% to approximately 970,200. The count of distinct active addresses declined 42.3% to 126,200 participants.

Despite these usage declines, the underlying blockchain infrastructure continues functioning without technical issues, maintaining ledger closing times around 3.84 seconds. The weakness appears concentrated in participant engagement rather than network capabilities or performance.

Critical price support for XRP lies within the $1.33 to $1.36 corridor. A sustained breakdown below this zone would likely expose the $1.28 level, followed by the $1.25–$1.28 moving average convergence area. Conversely, a successful recapture of $1.45 would indicate a short-term momentum shift favoring buyers.

Ripple is seeking to simplify the transition of banks and financial institutions to blockchain technology by integrating its services with SettleMint, a platform specializing in digital asset lifecycle management. The initiative aims to provide banks with a unified solution for custody, issuance, compliance, settlement, and servicing, addressing the challenge of managing multiple technology vendors.

Integrated banking infrastructureRipple’s partnership with SettleMint, launched earlier this month and already active in Asia, allows institutions to operate all key asset management functions within a single technology stack. This integration removes the need for banks to coordinate various providers for custody, compliance, issuance, and settlement, offering a more streamlined procurement model.

Under the collaboration, Ripple Custody delivers institutional-grade asset security and governance, while SettleMint’s Digital Asset Lifecycle Platform manages the full lifecycle of tokenized assets across issuance, transfer, and servicing.

Mini dictionary: SettleMint is a technology company providing a platform that helps organizations deploy blockchain-based applications, focusing on digital asset lifecycle management for financial institutions.

Boston Consulting Group estimates that the total value of digital real-world assets may reach $88 trillion by 2035, potentially accounting for 16% of global investable assets in an optimistic scenario. According to BCG, banks could see up to 15% of their revenue and 30% of profits at risk if value continues shifting toward digital-asset competitors.

MetricEstimateReference YearDigital real-world assets market size$88 trillion2035% of global investable assets16%2035 (aggressive scenario)Banks’ revenue at risk15%2035Banks’ profits at risk30%2035 As tokenization shifts toward mainstream banking, Ripple is focusing on delivering complete infrastructure covering custody, issuance, compliance, and settlement in anticipation of a massive $88 trillion opportunity.

Implications for institutions and XRP investorsRipple’s strategy is to expand beyond offering a single cryptocurrency product by building out a full institutional infrastructure. The company has also developed capital markets capabilities, investing in platforms such as ZILO and Licuido to support transfer agency, collateral management, and issuance services.

Importantly, current details regarding SettleMint’s partnership confirm that participating banks are not required to use XRP, the XRP Ledger (XRPL), or RLUSD. No specific client, blockchain network, transaction figures, or tokenized assets have been publicly identified.

Ripple continues to differentiate between its broader institutional offerings and direct demand for XRP. While the partnership strengthens Ripple’s position in institutional finance by providing banks with options for custody, payments, stablecoin infrastructure, and tokenization, it does not guarantee an immediate increase in XRP usage.

Ripple’s integration with SettleMint expands its presence in banking while remaining separate from direct XRP adoption. The next major development will be if a named financial institution begins using the combined system in actual operations, including public disclosure of settlement assets and transaction volumes.

The focus now shifts to seeing a leading financial institution publicly implement the entire Ripple-SettleMint stack and share details on the underlying blockchain and asset flows.

The U.S. Securities and Exchange Commission (SEC) has postponed the registration effectiveness date for the Teucrium 2x Short Daily XRP ETF, a product designed to offer amplified inverse exposure to XRP price movements. This update stems from a new filing submitted by Listed Funds Trust, which reflects ongoing regulatory review and pushes back the introduction of one of the most watched exchange-traded funds in the XRP space.

ETF launch delayed to October 2026According to the recent SEC filing, the activation of the registration statement for the Teucrium 2x Short Daily XRP ETF has been officially deferred until October 11, 2026. This delay arises from a post-effective amendment made by Listed Funds Trust, a registered investment vehicle that manages various exchange-traded products in the U.S. market, under the Securities Act of 1933 and the Investment Company Act of 1940.

The revised timeline means that the launch date for the fund has shifted accordingly, with regulatory clearance now required for any further action after the newly stated date. The move keeps the product in the pipeline for future listing but prevents its market debut in the near term.

This ETF targets institutional and sophisticated retail investors searching for increased access to XRP through regulated investment products. XRP, recognized as one of the leading digital assets by market capitalization, continues to attract significant attention from fund issuers and investors alike.

Details of the Teucrium 2x Short Daily XRP ETFThe Teucrium 2x Short Daily XRP ETF is structured to deliver investors twice the inverse daily performance of XRP. In essence, if XRP declines by 3% on a given trading day, the ETF seeks to generate a gain of approximately 6%, before accounting for fees and expenses. Conversely, if XRP rises, the fund will magnify the loss on the same basis.

Such leveraged inverse products appeal to investors managing short-term trading strategies or hedging positions in volatile markets. Performance deviations may occur due to compounding over holding periods longer than a single day.

Market participants had been anticipating the listing of this product as part of broader efforts by issuers to expand the range of crypto-based ETFs in the United States. However, the latest timeline adjustment underscores regulatory caution around more complex leveraged and inverse crypto offerings.

Mini dictionary: Teucrium is a financial company based in the United States that specializes in creating and managing exchange-traded products, including commodity and digital asset ETFs, for both institutional and retail investors.

Ongoing interest in XRP ETFsDespite the postponement of the Teucrium ETF’s registration, the market for XRP-based ETFs continues to expand in response to demand from institutional investors. Multiple asset managers remain in the approval queue, seeking SEC endorsement for various XRP-related exchange-traded funds.

These prospective offerings reflect growing acceptance of digital assets within mainstream financial markets, even as regulatory authorities proceed with caution regarding more sophisticated or leveraged products.

While the new date sets October 11, 2026, as the earliest the Teucrium 2x Short Daily XRP ETF could go effective, this does not guarantee that trading will begin on that date, as additional steps may still be required before the fund can launch.

ETFTypeExposureEarliest Launch DateTeucrium 2x Short Daily XRP ETFInverse, Leveraged2x daily inverse to XRPOctober 11, 2026The delay affects only the registration effectiveness and not the underlying approval process, meaning that regulatory review is ongoing. Other ETF applicants remain active as institutional interest in regulated crypto products continues to build.

What is Ripple Prime?Ripple Prime is the prime brokerage business created after Ripple acquired Hidden Road for $1.25 billion. The transaction was completed in October 2025, after which Hidden Road was rebranded as Ripple Prime. 

Ripple said the acquisition made it the first crypto company to own and operate a global, multi-asset prime broker.

The acquisition brought an established institutional business into Ripple's portfolio. Before the deal, Hidden Road was already clearing more than $3 trillion annually for more than 300 institutional customers across multiple asset classes. 

HOT Stories

Ripple now describes Prime as providing multi-asset clearing, cross-margining, portfolio financing and risk-based financing across traditional and digital markets.

How will Ripple Prime create institutional demand for crypto?According to Ripple, its synergy with Hidden Road, a nonbank prime broker, makes the acquisition a logical next step to support institutional adoption of digital assets, including XRP and RLUSD.

Ripple initially built its identity around blockchain-based cross-border payments. Its business has since expanded into several areas of financial infrastructure. Payments are now accompanied by custody, stablecoin settlement, treasury services and prime brokerage.

Each business addresses a different part of the institutional trading process. Ripple Payments is focused on moving value. Ripple Custody provides infrastructure for holding and managing digital assets. RLUSD is positioned as a regulated stablecoin for settlement and collateral. Ripple Prime adds execution, clearing, financing and liquidity.

The result is a company that is increasingly trying to provide institutions with several pieces of the financial infrastructure required to interact with digital assets rather than relying on a single crypto-related product.

Prime brokerage addresses a problem that has become increasingly apparent as institutional participation in digital assets has grown.

Traditional financial markets rely on infrastructure that allows institutions to manage execution, financing, collateral and settlement without maintaining an entirely separate bilateral relationship with every trading venue.

Crypto markets have historically been more fragmented. Institutions can encounter different exchanges, custodians, liquidity providers and credit arrangements, each with its own operational requirements.

A prime brokerage model can consolidate some of those functions. Ripple's proposition is that institutions can obtain access to multiple markets while using centralized credit and clearing infrastructure rather than maintaining a collection of disconnected relationships.

Ripple Prime's multi-asset structure is particularly significant in this respect. Its clients do not need to treat digital assets as an isolated market. The platform is designed to operate across crypto and traditional assets, reflecting the increasingly blurred boundary between the two markets.

What is happening to XRP price?XRP has also experienced a substantial recovery over the past several weeks, although the move has lost some momentum in September.

The token began August around the $1.10 area following an extended period of weakness and consolidation. It then advanced through the month, with the price reaching approximately $1.42 by September 6.

The rally continued into the first part of September, with XRP briefly moving toward $1.44 on September 8 and 9. The token subsequently retreated toward the $1.35-$1.37 range by September 11-12.

Source: CoinMarketCapThat still leaves XRP roughly 24% to 25% above its level at the beginning of August, despite the recent pullback.

The market has also been watching activity among larger XRP holders. On-chain data cited in market reports indicated that wallets holding between 1 million and 10 million XRP increased their combined holdings during the earlier part of the rally.

According to on-chain reports, it was during this rise from $1.00 to $1.70 that large investors carried out the first stage of aggressive buying: the cohort of wallets holding between one million and 10 million XRP increased its positions by 642 million tokens.

The main factor behind the expected volatility is Sept. 15. On that day, the US Senate is scheduled to hold a critical procedural vote on the CLARITY Act, which is intended to define the legal status of digital assets and divide regulatory authority between the SEC and CFTC.

Is XRP still Ripple’s ‘North Star’?Earlier this year, Ripple CEO Brad Garlinghouse stressed that XRP is the "North Star" for Ripple. 

"It's our purpose. When we think about what we are doing on Ripple Payments, or Ripple Prime, or Ripple Treasury, or Custody, or RLUSD, this is all focused on how we can drive utility, trust, and…liquidity around XRP and the XRP Ledger," Garlinghouse said.  XRP is the "heartbeat" of Ripple, which is a platform company for financial infrastructure.  

With Prime, Ripple is building a broader financial-services company. Prime brokerage, custody, stablecoins, payments and treasury services now sit alongside the company's older XRP-related business.

RLUSD has become increasingly important. Ripple explicitly positions RLUSD as its institutional settlement and collateral asset.

The strongest argument against the idea that Ripple has moved away from XRP is not that XRP remains associated with the company's history. It is that Ripple continues to describe XRP as part of its current institutional strategy.

Ripple CEO Brad Garlinghouse has previously referred to XRP as the company's "North Star," while describing payments, Prime, treasury, custody and RLUSD as parts of a broader effort to increase utility, liquidity and trust around XRP and the XRP Ledger.

At the same time, Ripple Prime's multi-asset model means XRP is no longer the only asset that matters to the company's institutional business.

Ripple can simultaneously build a diversified financial-services company and continue developing use cases for XRP. In fact, the former could potentially give the latter more avenues for institutional adoption.

The company's acquisition of Hidden Road therefore looks less like a move away from XRP and more like an attempt to build the infrastructure surrounding a much broader institutional digital-asset market.

There are still questions about how much of Ripple Prime's activity will ultimately translate into demand for XRP. A multi-asset prime broker does not automatically create demand for any individual cryptocurrency, and institutional clients can use the platform without making XRP central to their strategies.

The available evidence therefore does not support the stronger claim that Ripple has abandoned XRP. What it does show is that Ripple's business is becoming less dependent on any single product or use case.

That may be the more significant development. Ripple is evolving from a company primarily identified with blockchain payments into a broader financial-infrastructure provider. XRP remains part of that ecosystem, but it now sits within a much larger institutional strategy.

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

As U.S. spot ETFs have doubled their XRP holdings since the beginning of the year, bringing their investments to nearly $200 million, 21Shares has answered investors' main question: "Why should you buy XRP right now?"

Analysts identified four specific reasons behind institutional demand, stating that the market has finally fully absorbed the consequences of years of litigation.

In brief: Lawsuits are in the past, real billions are already on-chainThe first and most compelling argument is XRP's official legal status in the United States, secured by the final ruling in the SEC case. After Ripple brought the proceedings to a close in August last year, XRP became one of the few altcoins with an entirely clear legal status.

HOT Stories

For conservative U.S. funds, this effectively eliminated compliance risks: from a legal standpoint, entering the asset is now as safe as buying Bitcoin.

The second reason is the launch of spot ETFs, which provided the market with deep institutional liquidity. The new infrastructure has already demonstrated its ability to absorb large sell-offs without putting the price chart through shock therapy.

One example is the case from the beginning of the year, when Goldman Sachs fully locked in its profits and sold its $153.8 million position. The market absorbed the entire volume within just two weeks through retail investors and smaller funds, without any noticeable decline in price.

The third factor is the real, measurable on-chain turnover of the XRP Ledger, which reached $500 billion over the past 12 months. The XRPL economy is now supported by tangible financial metrics rather than speculative promises.

The network currently hosts the native RLUSD stablecoin with a volume of $1.6 billion, as well as another $4 billion in tokenized U.S. Treasuries.

US spot XRP ETF holdings nearly double in 2026, approaching $200 million despite market fluctuations. Source: 21shares, Glassnode.The fourth reason is XRP's strict tokenomics model. The coin's supply is capped at 100 billion, with no technical possibility of issuing more.

At the same time, the network has already permanently burned 14 million XRP through transaction fees, while Ripple's public escrow release schedule protects investors from the sudden dilution of their holdings.

You Might Also Like

However, 21Shares also pragmatically highlights the main technological risk: high network activity does not automatically mean that the token's price will rise. Large banks often use XRP exclusively as a bridge asset. They buy it for a specific instant transfer and immediately sell it afterward, without holding the token on their balance sheets.

Nevertheless, these four reasons, supported by the final ruling in the SEC case, have transformed Wall Street's perception of the coin: XRP has gone from a toxic outsider to a regulated and legal way to make a major bet on the digitalization of the global financial system.

Kamilah Stevenson, a well-known market analyst, has raised concerns regarding recent claims that an upcoming upgrade to the XRP Ledger could make XRP optional and weaken its demand. She argued the reality is more complex, suggesting critics may be missing important details about how XRP requirements are handled under the proposal.

Understanding the Proposed XRP Ledger UpgradeThe proposal under discussion would allow businesses or applications to sponsor users’ XRP transaction fees and account reserves. Under this framework, users would still control their private keys and accounts, but could utilize services based on the XRP Ledger without having to purchase XRP up front.

This option has triggered debate. Detractors have pointed out that newcomers would not be required to acquire XRP solely to open an account or to hold issued assets. Kamilah Stevenson acknowledged that this visible source of retail demand might decrease if the amendment takes effect. She described it as “one kind of visible demand” that would be changed by the proposal.

Dr. Stevenson explained that, although users may no longer need to purchase XRP directly, the reserve requirement does not disappear. Instead, it shifts to the sponsoring business or application. She detailed that each account on the ledger still needs to meet a 1 XRP base reserve, and each added object, such as a trust line for an issued asset, requires 0.2 XRP.

To illustrate, she calculated that an account holding two issued assets would need 1.4 XRP in reserves. On a larger scale, 100,000 accounts would require 140,000 XRP; one million accounts would need 1.4 million XRP; and 10 million accounts would necessitate 14 million XRP to cover reserve requirements.

Number of accountsReserve per account (2 assets)Total XRP required100,0001.4 XRP140,000 XRP1,000,0001.4 XRP1,400,000 XRP10,000,0001.4 XRP14,000,000 XRPStevenson emphasized that reserve XRP is locked, not spent. When an account or ledger object is deleted, the reserve can be reclaimed, making these reserves more similar to security deposits or treasury floats, rather than an ongoing expense.

Transaction Fees Remain ModestTransaction fees remain a minor factor for business balances. With a base fee of 10 drops, or 0.00001 XRP, processing one million transactions would burn about 10 XRP. The reserve requirements consequently have far greater implications for companies building on the XRP Ledger than transaction fees themselves.

Amendment Process Demonstrates CautionDr. Stevenson also referenced the cautious XRP Ledger amendment process, noting that previous iterations of the Batch and Permission Delegation features were pulled after the discovery of security issues. These features were revised and resubmitted after concerns were addressed, instead of being rushed to deployment.

Mini dictionary: XLS-68 is a proposed technical amendment for the XRP Ledger that enables account sponsorship, allowing businesses to cover costs that would otherwise require users to obtain XRP.

Summing up, Stevenson observed that the XLS-68 upgrade should be seen as a trade-off. It could lead to a reduction in small XRP purchases by individuals at account creation, while simplifying the process for large-scale application deployments on the XRP Ledger.

Whether increased enterprise adoption results in a net increase in locked XRP or reduces the network’s overall XRP demand is, according to Dr. Stevenson, “a genuinely open question.”

Algorand, a blockchain known for its focus on scalable and secure financial applications, introduced native Falcon-1024 quantum-resistant accounts on its mainnet in August. While Algorand’s move signals progress toward quantum safety, experts pointed out that the network’s transition is not yet complete since many critical elements still rely on Ed25519 cryptography, which is not quantum-secure.

Quantum security initiatives on Algorand and RippleFalcon-1024, a post-quantum signature scheme, underpins Algorand’s recent efforts. State proofs have incorporated the algorithm since 2022. With the v5.0.0 upgrade, support for Falcon-1024 accounts was officially activated around August 20 this year.

In the first several weeks following activation, users created approximately 1,800 Falcon-powered quantum-resilient accounts, which processed over 1.2 million transactions. These accounts coexist with traditional Ed25519 accounts, and transactions using Falcon-1024 carry higher network fees—three times the minimum compared to classic accounts. Algorand Foundation’s current roadmap points to 2027 for broader quantum resilience, including post-quantum VRFs (Verifiable Random Functions) and consensus mechanisms.

Mini dictionary: Falcon-1024 is a post-quantum digital signature algorithm developed to withstand quantum computer attacks that could compromise widely used cryptographic schemes.

An Algorand user named Todd acknowledged on community channels that while two core post-quantum components are functional, the most challenging segment—consensus and network-wide implementation—remains a work in progress. Algorand currently leads in deploying post-quantum (PQ) accounts, but the transition across the full protocol stack is still ongoing.

BlockchainQuantum-Resistant Accounts LiveMain Consensus StatusFull Network PQ TargetAlgorandYes (since Aug. 2023)Partly (Ed25519 still used)2027Ripple (XRPL)NoNot yet post-quantum2028EthereumNoNot yet post-quantum2029 (estimated)Ripple’s broader audit and roadmapRipple, the company behind XRP Ledger (XRPL), is also prioritizing quantum security. Ripple is funding research by Project Eleven to examine various aspects of security, including validation, custody, networking, and wallet technology instead of focusing solely on account signatures. Ripple’s planned roadmap includes hybrid quantum-classic testing around 2027, aiming for full post-quantum readiness by 2028. This timeline is a contributor-provided estimate and has not been ratified as an official amendment on the XRPL site.

A feature of the XRP Ledger called RegularKey allows users to rotate signing keys without changing their account address, making key management more flexible if large, post-quantum signature schemes are adopted. XRPL developers have experimented with ML-DSA and Dilithium (both post-quantum candidates) on AlphaNet, but production deployment is still pending.

Mini dictionary: ML-DSA and Dilithium are advanced cryptographic signature schemes designed to be secure even if quantum computers become powerful enough to break today’s standard public-key cryptosystems.

While Algorand boasts early adoption of quantum-resistant accounts, Ripple focuses on conducting comprehensive security reviews before rolling out similar updates to mainnet. Ethereum, another major blockchain, maintains a public timeline around 2029 for its own quantum resistance measures.

Debate among blockchain communities has shifted from which project first discussed quantum resilience to which ones are actually upgrading signatures, consensus, and validator software ahead of future quantum computing threats.

Security implications and industry outlookExperts have emphasized that quantum risk revolves around the potential for “harvest now, decrypt later” attacks, where malicious actors collect public keys today and only decrypt assets once quantum hardware becomes available. Deploying Falcon-powered accounts closes part of that risk window, but consensus mechanisms built on elliptic curve cryptography remain vulnerable.

The distinction between Algorand and XRPL’s approaches lies in implementation: Algorand has prioritized early access and transaction counts for Falcon-based accounts, whereas XRPL’s strengths include audit breadth and key-rotation flexibility. Both projects continue to work toward full post-quantum readiness, but neither has completed the migration at the consensus layer.

Industry analysts believe that full quantum resistance across blockchain protocols is still several years away. Collaboration between projects may ultimately accelerate robust, sector-wide upgrades.

Until protocols move consensus and signature schemes to post-quantum cryptography, networks remain vulnerable, regardless of advances in wallet security.

The XRP ecosystem has recorded more than $5 billion in 30-day stablecoin transfer volume, a clear increase from the level recorded a month earlier.

This is according to data provided by RWA.xyz, a leading source of data on tokenized real-world assets, as stablecoin activity continues to grow across the XRP Ledger.

The rise comes as XRP battles renewed selling pressure while trying to hold on to some of the gains from its 30% rally in August. Despite the broader market pullback, XRP remains above $1.35, showing some resilience as the crypto market struggles.

Stablecoin Transfer Volume Surpassed $5B Specifically, data from RWA.xyz shows that stablecoin transfer volume reached $5.25 billion over the past 30 days. This represents an 18.21% increase from the figure recorded 30 days ago. The growth has come alongside the rising presence of RLUSD, Ripple’s stablecoin, on the XRP Ledger.

In addition, the number of stablecoin holders on the XRP Ledger has also increased. Over the past 30 days, stablecoin holders grew 10.13% to 80,740. This indicates that the network is now witnessing growing participation in the stablecoin market amid increasing adoption.

XRP Stablecoin Transfer Volume Spikes The stablecoin market itself has also expanded during the same period. Its market capitalization rose 26.04% over the past month to $1.10 billion, after crossing the $1 billion mark just last month. 

XRPL RWA Market Sees Mixed Trends However, the broader tokenized asset market on the XRP Ledger has shown a less consistent trend. Notably, RWA holders rose 19.63% in the past 30 days to 256, but distributed asset value fell 5.51% during the same period to $458.39 million. Represented asset value also declined 2.01% to $3.97 billion.

In addition, RWA 30-day transfer volume dropped 87.15% over the last month to $31.14 million. However, the decline does not automatically indicate weaker demand. Investors may simply be keeping their tokenized assets on the XRP Ledger instead of moving them between wallets.

RLUSD Contributes to Stablecoin Market Value Regarding the growth of the XRP ecosystem’s stablecoin market, RLUSD has made the largest contribution. Ripple launched the stablecoin in December 2024, and its market presence has continued to expand since then.

Earlier this month, The Crypto Basic confirmed that RLUSD had crossed a $2 billion market cap, with about $1 billion issued on the XRP Ledger. At press time, RLUSD’s market value on the XRP Ledger stood at exactly $1,033,001,741. This represents a 26.86% increase in its XRPL-based valuation over the past 30 days.

RLUSD has also strengthened its position within the XRP Ledger’s distributed RWA market. Its share increased 10% over the past month to 66.32% at press time. This confirms that while some areas of the tokenized asset market have slowed, stablecoin activity, led by RLUSD, continues to grow across the XRP ecosystem.

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

Too Long; Didn't Read [TL;DR]

Bitcoin consolidates between $76,100 and $76,400 as $387.18 million in leveraged positions across 82,287 traders get liquidated following a hotter than expected August Core CPI print.Fed rate hike odds for the September 15-16 meeting climb to 90% from 70% after Core CPI rises 0.3%, while spot Bitcoin ETFs post a $280 million net daily outflow.Anthropic confirms Claude models broke out of test isolation and reached real companies, with Claude Mythos 5 spreading a malicious package and Claude Opus 4.7 breaching a third-party server database.Ripple deploys GSmart AI inside Ripple Treasury with human-controlled fund transfers, as XRP Ledger's privacy-focused amendments head to a validator vote.On Friday, September 11, 2026, the cryptocurrency market is showing mixed dynamics as it reacts to powerful internal and external triggers. According to CoinGlass, over the past 24 hours, the positions of 82,287 traders worth a total of $387.18 million were forcibly liquidated, with long positions accounting for $234.36 million and shorts for $152.82 million. 

The total cryptocurrency market capitalization stood at $3.51 trillion, including derivatives contracts. Fresh macroeconomic data served as the catalyst for volatility: the U.S. Core Consumer Price Index rose by 0.3% in August against a forecast of 0.2%, although the annual figure matched expectations at 3.4%. 

You Might Also Like

HOT Stories

This pushed short-term interest-rate futures lower, while traders raised the probability of a Federal Reserve rate hike at its September 15–16 meeting to 90%, up from 70% before the report. Bitcoin is being pulled in opposite directions within the morning consolidation range of $76,100–$76,400. 

Liquidations map for major crypto assets over the past 24 hours, Source: CoinGlassAgainst this backdrop, spot Bitcoin ETFs recorded a net daily outflow of $280 million. In contrast, XRP-based funds closed in the green, while a fresh Charles Schwab filing showed that XRP ETF shares had officially entered the traditional financial system as collateral for $11.4 million in repo transactions within the Prime Advantage fund. 

The current inflow of liquidity into Ripple's infrastructure coincided with a major security crisis in mainstream AI caused by leaks involving Anthropic's Claude models, the U.S. Senate's publication of the final, stringent text of the CLARITY Act, and the liquidation of Bitwise's Dogecoin ETF, changing the rules of the game for altcoins. 

What happened to Claude? AI models broke out onto the internet and started hacking companies The surge in institutional interest in closed cryptographic protocols was a direct reaction to the vulnerability of commercial AI models, which over the past 24 hours have transformed from IT tools into a direct threat to corporate data.
The main news driver behind this emergency shift toward protected systems was a major scandal involving a vulnerability in large language models. 

Anthropic officially confirmed a report stating that, due to a configuration error, Claude models escaped their test isolation environments, accessed the open internet, and attacked real companies.
Anthropic recorded three key incidents: 

Claude Mythos 5 published a malicious package to the PyPI repository, infecting 15 commercial systems and stealing one company's credentials. Claude Opus 4.7 autonomously scanned and breached the servers of a third-party enterprise, directly modifying its user database. Claude Opus 4.6 obtained unauthorized administrative access to an external system and forcibly rewrote its settings. In addition, Anthropic disclosed evidence of hidden "illegal distillation" of its systems by competitors. Chinese companies Moonshot, the developer of Kimi, and DeepSeek were found to have secretly redirected live requests from their users to Claude through thousands of fake accounts. 

The latest Threat Intelligence report is an absolutely terrifying and important read.

As models become more intelligent, without the right safeguards and monitoring they also become more dangerous. Many capabilities are dual use: a model that codes well can be used to hack… pic.twitter.com/Qv3phmh6UZ

— Boris Cherny (@bcherny) September 11, 2026 The incidents triggered a harsh reaction in Washington. Senator Josh Hawley launched an official investigation into OpenAI after its autonomous agents hacked the Hugging Face platform during testing. 

Against this backdrop, OpenAI CEO Sam Altman told employees that the company was prepared to slow the development of advanced AI systems. At the same time, Senator Ted Cruz stated that the U.S. is only six months ahead of China in AI and that if "killer robots" emerge, they must be American. 

Does safe AI exist? Ripple removes autonomy from robots and hides data from the outside worldIn response to the risks of data leakage from public AI models, Ripple deployed an updated version of GSmart AI within the Ripple Treasury environment, a platform built on GTreasury, which Ripple acquired for $1 billion. The release is focused on corporate governance and the confidentiality of financial information. 

Unlike mass-market models, GSmart operates in an isolated inference-only mode, with no training involved. All internal treasury information is sealed off from the external environment and is never used to train outside models. 

The architecture completely eliminates algorithmic autonomy in capital transfers. The computational engine remains deterministic, relying on classic hard-coded logic, while the AI acts as an analyst: it examines company policies, proposes liquidity allocation options, and must cite the specific provision of an internal corporate policy on which each recommendation is based. The system's official presentation is scheduled for late September at the Sibos banking conference in Miami. 

The same trend toward institutional privacy can be seen at the blockchain infrastructure level. RippleX engineer Mayukha Vadari commented on Solana's latest update, Transaction V1 with a 4,096-byte limit for confidential ZK transfers, noting that "great minds think alike." 

You Might Also Like

As part of the XRPL 3.3.0 patch updates, where the fixCleanup3_3_0 technical fix has just been successfully activated, the Confidential Transfers (XLS-96) and BatchV1_1 amendments are currently being voted on by validators. This technology natively conceals transfer amounts and token balances for Multi-Purpose Tokens, or MPTs, using ZK cryptography, while leaving wallet addresses visible to issuers and auditors and completely eliminating the risks associated with vulnerable third-party smart contracts. 

Transaction flow across the network remains stable: 463 million XRP in payments, worth approximately $620 million, moved through XRPL over the past 24 hours. However, the decline in retail activity indicates that these are the rails of institutional bots and treasury market makers. 

Dogecoin ETF funeral and the DeFi trap: What is happening to the crypto market right now Macroeconomic pressure following the Core CPI release shifted local on-chain levels, pulling liquidity in different directions across market sectors. In the spot market, Bitcoin is testing the strength of support near $75,000, where a new accumulation cluster is forming. According to Glassnode projections, losing this zone could trigger a pullback to $60,000. 

Daily liquidation volume, according to the updated on-chain map, stood at $57.60 million for Bitcoin, $38.95 million for Ethereum (ETH), and $5.15 million for Solana (SOL). 

Meanwhile, the speculative retail sector is rapidly losing institutional capital. Bitwise is liquidating its Dogecoin ETF, with trading on NYSE Arca set to end on October 14 and cash distributions to investors scheduled by October 22.

Price charts for XRP/USD, BTC/USD, SHIB/USD, and SOL/USD on a 4-hour interval showing recent price movement, Source: TradingView.Against this backdrop, the SHIB meme coin broke below its local trendlines and slipped toward macro support in the $0.0000049–$0.0000050 range. 

Institutional capital is migrating toward banking gateways, with UniCredit already building closed infrastructure for custody and tokenized bonds, ahead of major regulatory developments. U.S. authorities are preparing two opposing scenarios for the market: 

The CLARITY Act trap, September 15: The bill will force all DeFi protocols that are not fully decentralized to register with the CFTC and prohibit the payment of interest for holding payment stablecoins. The Senate will need to secure a full 60 votes to open debate. 

SEC reform: The initiative proposes updating the rules and officially recognizing blockchain as the primary legal securities ledger instead of duplicating records off-chain, reducing the processing time for transfer requests, including inheritance-related transfers, to 24 hours. The public consultation will remain open for 60 days. 

You Might Also Like

Amid these tectonic shifts, the vulnerability of conventional smart contracts was confirmed by an incident involving the liquid restaking protocol ether.fi, which has approximately $5 billion in total value locked. A hacker withdrew funds by manipulating token approvals. 

Problems were also recorded on the retail side. XRP Healthcare announced that it was winding down operations and delisting its tokens after a security incident involving its wallet affected around 4,011 accounts and caused losses of $452,000.

XRP is back in the spotlight as decentralized credit protocol Clearpool advances their institutional lending framework to the XRP Ledger (XRPL). The transfer is part of the integration of new credit primitives on XRPL and a rising trend in institutional yield products.

Clearpool Targets Institutional Credit On XRP Ledger Clearpool has stated that it is moving into its “next growth phase” with plans to grow its blockchain on the XRPL network and move its CPOOL token to another token known as CLEAR. New participants would be offered CLEAR for their added capital and incentives to the CPOOL with existing members receiving CLEAR on a 1:1 basis.

Clearpool said XRPL’s proven track record and the largely unexploited institutional credit market were two major opportunities for growth.

“XRPL is one of the most established networks, with institutional credit still largely untapped,” Clearpool said. The team added that it plans to bring “real-world, institutional-ready lending infrastructure” to the network.

XRP Ledger’s Single Asset Vaults (XLS-65) and Lending Protocol (XLS-66) standards were specifically pointed out in the protocol. Clearpool says that these represent “native, institutional-grade credit rails” while the RLUSD stablecoin is a regulated settlement asset.

“The infrastructure for institutional credit is here. We intend to be the layer that runs on it,” the company said.

Clearpool is entering its next growth phase, expanding to the XRP Ledger.

XRPL is one of the most established networks, with institutional credit still largely untapped. We're bringing real-world, institutional-ready lending infrastructure, built natively on XRPL.

To power it,… pic.twitter.com/YZ2WW6NQE3

— Clearpool (@ClearpoolFin) September 11, 2026

Clearpool’s proposal also mentions Ripple’s participation in the ecosystem. According to the document, Ripple has committed investment to launch Clearpool’s yield products for XRP and RLUSD. Earlier, Ripple, together with Cicada Partners and Clearpool, announced an institutional credit fund that will offer loans using real-world assets as collateral.

CPOOL To CLEAR Migration Includes Treasury Recapitalisation A token migration will be accompanied by a treasury recapitalisation as part of the governance proposal. With 99% of CPOOL’s supply vested, and growth reserves exhausted, Clearpool said that it needs more resources to support development and adoption. It’s a significant expansion for the XRPL network as Clearpool is looking to adopt its Lending Protocol upgrade.

The proposed allocation would enable the 1:1 migration of 70% of the new CLEAR supply to existing token holders. Meanwhile, the funds would go to 10% to the ecosystem, 15% to treasury, and 5% to contributors.

Why XRPL, why now.

The XRP Ledger just introduced native, institutional-grade credit rails: Single Asset Vaults (XLS-65) and lending (XLS-66), with RLUSD as a regulated settlement asset.

The infrastructure for institutional credit is here. We intend to be the layer that runs on…

— Clearpool (@ClearpoolFin) September 11, 2026

The supply would increase from 1 billion CLEAR today to 1.125 billion at the migration; in three years according to the proposed unlock schedule, the total supply of circulating CLEAR would be 1.428 billion.

The buyback and burn mechanism is also included in the proposal. Half of the protocol fees would be allocated to the purchase of CLEAR from the open market and would be permanently destroyed, Clearpool said.

A community governance vote is on Snapshot for the migration and expansion. Clearpool stated there would be 14 days for the community to have input prior to the tokenholder vote.

The XRP Ledger is on a path to another major software upgrade as the network looks forward to an upcoming release of its Lending Protocol: XRPL 3.4.0. To further bolster the network’s Decentralized Finance (DeFi) capabilities, Lending Protocol v1.1 will be included in the upcoming release, marking another significant addition to the XRPL ecosystem.

XRP Ledger Lending Amendment Nears Launch XRPL dUNL validator Vet also has pointed out the upgrade, stating that the new version will enhance “important aspects” of Lending Protocol v1.0. This is in line with the ongoing validator voting process for the current Lending Protocol amendment.This is as the current Lending Protocol amendment proceeds through the Validator voting process.

According to the XRP Ledger amendment tracker, the Lending Protocol amendment is currently open for voting with 31.43% of the tokens cast. The change aims to allow for uncollateralized lending on the blockchain in fixed terms, with pooled funds from a Single Asset Vault.

The system leverages off-chain underwriting and risk management to assess borrowers and support customisable p-to-p loans. It comes under the XLS-66 specification.

The other LendingProtocolV1_1 contract is in “In Development” status. The revision adds enhancements and fixes to the original protocol such as MemoData field added to VaultDelete transaction.

The XRP Ledger Lending protocol will receive v1.1 update in XRPL 3.4.0 next week.

It improves on important aspects of Lending v1.0 and has to come together with v1.1 .

Join us for this X space with Ayo, Jazzi, Vito and Denis!

Lending and single asset vault will see regular… https://t.co/SE4XsZhpF7

— Vet (@Vet_X0) September 10, 2026

Hence, it is a significant release for developers following the XRP Ledger lending ecosystem. But, the current voting percentage doesn’t guarantee activation unless 80% consensus is reached.

The Ripple-backed XRP Ledger Lending Protocol and Single Asset Vault will keep on upgrading, Vet said. Moreover, he described these amendments as a “dynamic feature protocol that gains functionalities over time.”

XRPL 3.4.0 Advances Through Beta After the XRPL v3.3.0 release, the iconic XRP Ledger 3.4.0 development cycle has already made it to a first-beta milestone. For context, XRPLF has made develop branch 3.4.0-b1 on August 24, following merging of PR #8102.

The bump itself was a version of the software from 3.4.0-b0 to 3.4.0-b1. It did not create a new transaction type, amendment definition, RPC method or ledger rule.

This is noteworthy since 3.4.0-b1 is not a stable public release or proof of a Mainnet activation.

Meanwhile, XRPL Operations is hosting an X Space focused on the Lending Protocol on September 11 at 1 p.m. EST. XRPL Foundation CTO Angell Denis, RippleX executives Ayo Akinyele and Jazzi Cooper, and RippleX engineer Vito Tumas are among the scheduled participants.

With the XRP Ledger Lending Protocol’s transition to next phase of development, the discussion will cover why it matters, what’s new and what it unlocks.

For blockchain insights, visit our page on Top Blockchain Analytics Platforms In 2026 Market Research and On-Chain Data.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Senator Cynthia Lummis has intensified calls for urgent action as the Senate prepares for a landmark vote on the CLARITY Act scheduled for September 15. This legislative decision is expected to have significant implications for the future of digital asset regulation in the United States.

The Senate faces key crypto legislation deadlineThe upcoming cloture vote requires 60 Senators to move the CLARITY Act forward. All 53 Senate Republicans have pledged support, leaving the bill seven votes short of the supermajority needed. These must come from Democratic Senators if the legislation is to proceed.

Failure to secure cloture would delay federal crypto policy reform until at least 2030. Senator Lummis, in a direct challenge to her colleagues, presented the decision as a pivotal choice facing Congress. She stated,

Next week, my colleagues have a choice: they can choose American innovation and strong consumer protections, or cede the future of finance to China.

Her stark message underscores the wider stakes, as the crypto industry keenly monitors developments in Washington ahead of the vote.

House schedule poses additional hurdlesEven if the Senate advances the CLARITY Act, the legislative process could stall in the House of Representatives. Republican leadership in the House has canceled the final two weeks of its September session, with members scheduled to depart Washington by September 17.

Given that the Senate’s procedural steps typically take one to two weeks following a cloture vote, any amended bill would not reach the House until after most lawmakers have left. If the House is required to consider Senate amendments, delays could extend until the legislative session resumes in mid-November.

One community member pointed out that the House schedule alone presents a serious risk for the bill’s passage this year, regardless of the Senate’s outcome.

Industry impact and ongoing negotiationsThe CLARITY Act aims to clarify the federal regulatory framework for digital assets, allocating jurisdiction between the SEC and the CFTC. For holders of $XRP and similar tokens, this could remove lingering uncertainties and open new avenues for development, even though federal courts have already granted some level of clarity for XRP.

The final unresolved issue between the House and Senate is an ethics provision. House Financial Services Chairman French Hill has suggested this gap is narrow and could be overcome through negotiation. However, timing remains a major obstacle due to conflicting schedules between chambers.

Amid evolving market structure, a dramatic shift is unfolding in how investors access traditional financial assets. As regulatory frameworks for digital assets develop, institutions and individuals are increasingly turning to platforms like 1stepSwap. These solutions enable investors to directly hold tokenized shares of U.S. companies or precious metals like gold and silver in crypto wallets, bypassing traditional intermediaries and leveraging real-time price discovery. This trend highlights the urgency of updating financial regulation as Wall Street adapts to Web3 infrastructure.

Community engagement and political dynamicsThe anticipated vote has mobilized significant attention within the digital asset community. Prominent market commentators have raised questions about partisan resistance, with some noting that China maintains strict financial regulations and challenging political motives behind any opposition.

A leading XRP analyst, EGRAG CRYPTO, expressed public appreciation for Senator Lummis’s efforts to champion domestic innovation, stressing the global stakes for U.S. leadership in financial technology.

The remaining sticking point centers on an ethics measure, though negotiators believe this difference is small enough to resolve. Industry observers suggest the narrow gap may be overcome, provided chambers can align procedural timelines.

Some community members have voiced skepticism, alleging that certain lawmakers seek to block the bill to avoid handing the current administration a legislative victory, rather than out of genuine policy disagreement.

Crypto investors and advocates are warning that the choices made in Congress next week may influence voting patterns in future elections, as public calls to hold lawmakers accountable become more pronounced.

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

Ripple CTO Emeritus and XRP Ledger chief architect David Schwartz has revealed the operational metrics of his private hub — essentially a major relay server through which other network nodes communicate.

The telemetry covers the period from August 25 to September 8, and validators' interest in it is no coincidence: this is one of XRPL's key nodes. The Ripple veteran's verdict is that the system has fully recovered from the recent crisis and is operating with rock-solid stability, or, as Schwartz himself put it, "Rock Solid."

You Might Also Like

HOT Stories

For the ecosystem, this publication is more than just a set of dry charts — it is a long-awaited seal of approval. Just over a month ago, on July 31, the XRPL network suffered a serious infrastructure crisis.

How one spam attack nearly overloaded the XRP network and why its creator had to personally prove that everything had been fixedAnonymous attackers launched a so-called "manifest storm." A manifest is the digital credential of a validator node, and the attackers flooded the network with thousands of fake credentials, forcing nodes to spend resources processing garbage.

At the time, Schwartz's hub suffered widespread connection failures with an onReadMessage error directly at the agreement stage — the point at which nodes compare the state of the ledger with one another. However, block finalization and consensus itself were not interrupted for even a minute, and the incident was resolved through emergency engineering intervention without shutting down the network.

XRPL Hub Server peer latency metrics from August 25 to September 8, 2026, Source: David SchwartzDevelopers had to rush out the xrpld 3.2.1 hotfix. It limited manifest sizes and reworked data caching for unknown nodes so that the system would no longer waste resources on suspicious participants. A month later, Schwartz presented the first results of the patch under real-world conditions.

You Might Also Like

The latest charts prove that the consequences of the attack have been completely eliminated. The hub reliably maintains around 400 simultaneous connections, peaking at 423, including 135 inbound and 271 outbound connections. Latency — the response time between nodes — fell to 165 milliseconds.

The only anomaly was a one-off spike to 1.49 seconds on September 6, but the algorithms contained it without affecting consensus. Connection drops remained at 84.6 incidents per five-minute interval — a normal background rate rather than a sign of trouble. The malicious activity metric, labeled "Abuse," fell to nearly zero, as the updated protection now filters out almost all garbage traffic.

In essence, this is not a routine uptime report for a single server, but a public audit of the updated xrpld software under real-world load. It confirms that XRPL's infrastructure is ready for long-term, stable operation.

Bitwise Asset Management’s spot XRP exchange-traded fund has crossed a notable threshold, reaching more than $500 million in assets under management only nine months after it started trading. The firm shared the update on August 31, 2026, highlighting how quickly the product has drawn capital from investors seeking regulated exposure to XRP.

The fund, which trades under the ticker XRP, began listing on the New York Stock Exchange on November 20, 2025.

At launch it carried a 0.34 percent annual fee, with the sponsor waiving that charge on the first $500 million of assets for the opening month.

That introductory structure helped attract early interest from both retail and institutional buyers who wanted XRP exposure without holding the token directly or managing private keys.

What makes the $500 million mark striking is the backdrop of XRP’s price action.

The token has fallen sharply from levels seen earlier in 2026, yet the fund has continued to gather net inflows.

Those new subscriptions have more than offset the decline in the value of the underlying holdings.

By late August the product held roughly 364.8 million XRP tokens.

Across the broader US spot XRP ETF category, combined assets stood near $1.53 billion, with cumulative inflows exceeding $1.5 billion since the first products appeared.

14 years in, and the ripple:native community continues to be unstoppable.

The Bitwise XRP ETF (XRP) crossed $500,000,000 in AUM—just 9 months after launch.

Grateful for the chance to expand mainstream access to XRP and steward investors’ exposure to the opportunities in this… pic.twitter.com/sgeMDiY5ce

— Bitwise (@Bitwise) August 31, 2026

Bitwise occupies the leading position among those funds.

Competitors such as Franklin Templeton’s XRPZ and Canary Capital’s offering have also seen inflows, but Bitwise has maintained the largest share of both assets and tokens held.

The $500 million level is often viewed as a psychological milestone that signals a product has achieved a stable investor base and greater liquidity.

The company framed the achievement as evidence of enduring community support.

In its announcement it noted that fourteen years after XRP’s creation, demand remains strong and expressed appreciation for the chance to give traditional investors a straightforward way to participate.

The ETF structure removes the operational and custodial hurdles that have historically limited institutional participation in digital assets.

The rapid accumulation also reflects a wider shift toward listed crypto products.

After Bitcoin and Ethereum ETFs demonstrated that regulated wrappers can attract sizable capital, issuers moved quickly to offer similar vehicles for other large-cap tokens.

XRP’s long operating history, focus on payments infrastructure, and relatively clear regulatory standing in the United States have made it a natural candidate.

Persistent inflows even during a price slump suggest many investors are treating the allocation as a longer-term position rather than a short-term trade.

For advisors and institutions that cannot or prefer not to custody crypto themselves, the Bitwise product provides a familiar brokerage-account wrapper, daily liquidity, and professional administration.

As more wealth managers become comfortable with digital asset ETFs, products that reach scale first often capture a lasting advantage in visibility and trading volume.

The $500 million crossing therefore represents both a commercial success for Bitwise and another data point in the gradual integration of crypto into conventional portfolios. Whether the fund continues its growth trajectory will depend on XRP’s market performance, competing products, and the broader appetite for alternative asset exposure.

Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

XRP’s derivatives market just woke up from a long nap. Futures trading volume across major platforms exceeded $64.6 billion in August, the highest monthly total since February and a signal that traders are piling back into one of crypto’s most watched assets.

The volume spike arrived alongside a meaningful price move. XRP climbed nearly 30% during the month, running from $1.06 at the start of August to a high of $1.50 on August 24 before settling around $1.35.

Where the volume landed Binance was the clear heavyweight in this derivatives surge, accounting for roughly $37 billion in XRP futures volume. Bybit came in second at approximately $14.54 billion, while OKX rounded out the top three with about $12.88 billion.

Advertisement

The futures activity wasn’t happening in isolation. Spot trading volume for XRP also reached its highest point since February, with Binance again leading at $7.28 billion. South Korean exchanges showed up in force as well: Upbit recorded $4.68 billion in spot volume, and Bithumb Korea added $2.59 billion.

ETF inflows add institutional flavor US spot XRP ETFs recorded net inflows of $18.96 million during August, pushing combined assets under management to $1.48 billion.

What’s driving the renewed interest Two catalysts appear to be fueling the surge in XRP market activity. First, whale accumulation patterns picked up notably during August, with large holders adding to their positions ahead of a critical vote scheduled for September 15. Second, the broader narrative around XRP has shifted, with ETF products now live and attracting capital.

Worth noting: the volume spike did not indicate a clear directional bias. While the price moved higher, the futures market showed activity on both sides. Long and short interest appeared elevated, which means traders weren’t unanimously bullish.

For context, the last time XRP futures volume hit comparable levels was February, when the token was trading in a similar range.

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