Track market-moving stories before they get noisy

The Commodity Futures Trading Commission (CFTC) has issued Staff Letter 26-25, significantly expanding its no-action relief for passive software providers that facilitate access to regulated derivatives markets. This move, highlighted by crypto analyst Levi Rietveld on September 17, has drawn attention within the digital assets industry, particularly among $XRP holders and developers.

CFTC clarifies stance for developersPreviously, the CFTC’s relief for such software developers was limited to Phantom Technologies, which in March received similar protection through Staff Letter 26-09. The latest letter now extends this relief to all developers building passive front-end software that connects users to regulated derivatives venues.

Under the updated guidance, developers can operate without being required to register as introducing brokers, provided they adhere to a set of specific conditions. These conditions include not holding or controlling customer funds, not exercising discretion over the routing or execution of individual orders, and refraining from providing trading instructions or signals.

Additionally, software providers must disclose any conflicts of interest and ensure compliance with record-keeping requirements. The relief spans various products, covering event contracts, perpetual contracts, and other instruments under CFTC jurisdiction.

Passive developers connecting users to CFTC-regulated derivatives markets now have an avenue to operate free of introducing broker registration, given they do not control funds, provide trading signals, or exercise trade discretion. This applies to all qualifying software providers, a significant expansion from the previous single-company arrangement.

Implications for $XRP developersThe change carries notable implications for the $XRP ecosystem. By formally classifying software providers as technology developers rather than financial intermediaries, the letter effectively reduces compliance risks for those integrating $XRP-based tools into derivatives-facing applications.

Rietveld stated that the new standard addresses longstanding concerns among $XRP holders, who have sought clarity on regulatory obligations related to integrating their token into broader financial infrastructure.

The CFTC’s decision was not prompted by any single industry request, but instead came as a proactive measure to clarify the regulatory environment. The agency listed itself as the requester of the letter, making it clear that the initiative was self-driven. This signals ongoing efforts by the CFTC to provide wider, market-wide regulatory clarity without delays associated with legislative processes.

Broader regulatory contextThe announcement arrives shortly after the failure of the CLARITY Act, which did not secure the necessary Senate votes to advance further. With formal legislation facing hurdles, regulatory agencies have moved to fill the void. CFTC Chair Michael Selig has publicly committed to working with the SEC to establish clear frameworks for digital assets, and the issuance of Staff Letter 26-25 is seen as progress toward that objective.

While some Democratic lawmakers have signaled an intention to continue discussions on the CLARITY Act, industry skepticism over future negotiations lingers. For now, the CFTC’s move provides an interim framework for software developers and market participants as agencies prepare for permanent rulemaking.

The no-action relief outlined in the letter will remain in place until the CFTC finalizes formal rules. Selig has already directed his staff to begin drafting those new regulations.

Amid evolving regulatory standards, close attention to technical and market trends becomes essential for investors and developers. In fast-moving sectors like the meme token market, shifts in internet culture can rapidly drive massive interest and trading volume. As highlighted by Fomo App, a recent example saw a $99 “Niu Lai” token investment balloon to approximately $370,000. In these dynamics, the importance of monitoring not just prices but timing and individual token movements is clear. Fomo App centralizes social feeds, investor rankings, and trading alerts, offering a comprehensive view of meme token activity and investor behavior.

This development provides exactly what many $XRP holders have sought: a clear distinction between building technology and acting as a financial intermediary, reducing barriers for innovation in derivatives-linked tools.

Key Highlights XRP surged approximately 7% to reach $1.41 with spot trading volume exploding to $1.36B within 24 hours Short positions totaling $8.05M were liquidated during a squeeze as Bitcoin reclaimed $80,000 A golden cross pattern is forming, with the 50-day MA trailing the 200-day MA by just 2% Institutional interest remains strong with US spot XRP ETF inflows exceeding $1.7B Technical analyst Ali Charts projects a potential 35% surge to $2 if XRP clears $1.55 resistance XRP price experienced a notable weekend rally, advancing approximately 7% to settle at $1.41. Trading activity intensified dramatically, with spot market volume reaching $1.36 billion across a 24-hour period—representing a nearly 90% single-day increase.

XRP Price The upward momentum was primarily driven by a significant short squeeze event. Approximately $8.05 million worth of short positions faced liquidation as Bitcoin successfully pushed beyond the $80,000 threshold, creating upward pressure across the altcoin market.

Long positions weren’t completely spared, experiencing roughly $2.36 million in liquidations. The broader cryptocurrency market witnessed approximately $300 million in total liquidations as Bitcoin climbed past $81,000.

XRP futures contracts generated $5.71 billion in volume—exceeding spot volume by more than four times. When derivatives markets demonstrate such significant dominance over spot trading, rallies often face reversal risk once leveraged positions unwind.

This weekend’s price action occurred in the absence of significant fundamental catalysts. XRP had previously declined toward the $1.23–$1.30 range during early September following the Senate’s 49-50 failed cloture vote on the CLARITY Act.

Chart Patterns and Price Projections Technical analyst Ali Charts (@alicharts) shared analysis indicating XRP may be developing an inverse head-and-shoulders formation on daily timeframes. His focus remains on price action near the neckline positioned around $1.55. According to his analysis, a confirmed breakout above this resistance level could spark a 35% advance toward the $2 price target.

XRP TARGETS $2

On the daily chart, $XRP appears to be forming the right shoulder of an inverse head-and-shoulders pattern.

If the setup continues to develop, I’m watching for a move toward the neckline near $1.55.

That’s the key level.

A confirmed breakout above $1.55 could… pic.twitter.com/HQfEkWiDoj

— Ali Charts (@alicharts) September 18, 2026

XRP is simultaneously approaching a golden cross formation. The 50-day moving average currently trades approximately 2% beneath the 200-day moving average—marking the narrowest separation since August 2024.

Golden crosses occur when the 50-day MA climbs above the 200-day MA and typically signal bullish long-term momentum. Worth noting, however, is that all 16 of XRP’s historical golden crosses eventually transitioned to death crosses within a 12-month timeframe.

🔴 XRP nears golden cross as bitcoin dominance slides to 59%

XRP's 50-day moving average sits roughly 2% below its 200-day average, the closest point since August 2024. A golden cross—when the 50-day crosses above the 200-day—is considered a bullish signal, though XRP's track… pic.twitter.com/ErVIjeiOrr

— NewsTongue (@NewsTongueX) September 18, 2026

Among the ten crosses that maintained duration, five delivered returns ranging from 85% to over 1,000%.

Institutional Flows, Large Holder Movements and Market Updates US spot XRP exchange-traded funds have accumulated more than $1.7 billion in total net inflows. This represents the most compelling evidence of institutional participation in the current market environment.

Meanwhile, approximately 1.6 billion XRP tokens transferred into Binance from whale-sized wallets throughout the past 30 days, reaching a six-month peak. CryptoQuant analysts suggested this activity might indicate portfolio rebalancing rather than outright selling—though Binance reserve levels have climbed to a 69-day high.

Bitcoin’s dominance metric declined below 59%, marking a one-month low. Capital has been rotating into alternative cryptocurrencies, with tokens including UNI, NEAR, and ARB posting approximately 30% gains within 24 hours.

Ripple has integrated both XRP and RLUSD into Stripe and Tempo’s artificial intelligence-powered payments infrastructure. The Moscow Exchange plans to introduce XRP perpetual futures contracts on September 22.

Following the unsuccessful CLARITY Act vote, Ripple Chief Legal Officer Stuart Alderoty commented: “Ripple and $XRP stand on settled ground.”

Critical resistance levels to monitor as the trading week begins include $1.45 and $1.50.

Crypto market commentator X Finance Bull has advised $XRP holders to look past the most recent debates surrounding the CLARITY Act, highlighting significant advances in the digital asset’s regulatory journey in the United States.

Key court ruling and regulatory clarityX Finance Bull emphasized Judge Analisa Torres’ landmark 2023 decision, which established that XRP, as a token, is distinct from the investment contracts tied to some of Ripple’s sales practices. Following this ruling, both Ripple and the SEC chose not to pursue further appeals in August 2025, allowing the court’s findings to stand.

He also pointed to the joint move by the SEC and the CFTC on March 17, 2026, when both agencies introduced a formal crypto taxonomy. Their framework explicitly named XRP as a digital commodity, laying the groundwork for how regulators will approach similar tokens in the future.

These steps, according to X Finance Bull, help explain why Evernorth CEO Asheesh Birla does not view the CLARITY Act as essential to XRP’s regulatory clarity. Instead, Birla described the legislation as an accelerator that could speed up institutional adoption, rather than defining XRP’s status outright.

Market-structure legislation may serve as a catalyst for accelerating XRP’s institutional uptake, but the foundation for XRP’s regulatory clarity has already solidified with key court decisions and agency classifications.

Institutional prospects and Evernorth’s strategyX Finance Bull noted that the next phase in XRP’s trajectory may focus on how regulated institutions use the asset within traditional finance. Topics such as institutional custody, deepened liquidity, and the possible roles of XRP in lending, tokenization, and onchain markets were brought to the forefront.

Further, X Finance Bull referenced SEC filings from Evernorth, where Birla described the CLARITY Act as a spark for corporations and institutions to enhance their use of decentralized finance technologies. Evernorth is reportedly building an institutional decentralized finance ecosystem based on XRP, aiming to expand its applications across enterprises.

Evernorth’s corporate plans include holding at least 473 million XRP at closing, with industry figures David Schwartz and Brad Garlinghouse named as strategic advisers, and Stuart Alderoty linked to the firm’s board.

In rapidly evolving markets, traders report that a single announcement from the Fed or an unexpected altcoin listing can shift sentiment instantly. As market participants seek an edge, privacy-focused aggregation tools like CryptoAppsy are gaining attention. Such platforms integrate real-time charts, portfolio tracking, smart price alerts, curated coin news, and crucial macroeconomic indicators into one interface—all without requiring an account—allowing investors to make faster decisions and reduce friction between applications.

Legislative setbacks and future directionX Finance Bull connected the recent rejection of the CLARITY Act in the Senate with subsequent regulatory moves. Two days after the bill failed to progress, SEC Chairman Paul Atkins announced the Innovation Exemption, offering temporary permission for tokenized U.S. stock trading through permissioned onchain venues. Atkins stated that while legislative progress stalled, regulatory agencies could still provide interim solutions.

Congressional gridlock may slow new laws, but agencies like the SEC and CFTC continue to make incremental changes that guide the industry’s path forward.

Evernorth’s S-4 registration statement has now become effective, and Armada shareholders are scheduled to vote on September 30 regarding the proposed business combination. If finalized, the merged entity could begin trading under the ticker XRPN.

In sum, X Finance Bull shifted focus from debates about XRP’s legal status to the growing infrastructure regulated institutions could build around the asset. The commentator underlined that core questions about XRP are transitioning away from regulatory uncertainty toward the scale of financial activity and adoption the token can support as institutions deepen their involvement.

XRP is making moves to reclaim higher price levels, buoyed by renewed technical optimism and fresh institutional interest. The cryptocurrency is trading at $1.32, showing a 1.54% increase over the past 24 hours, with a 24-hour trading volume of $4.02 billion and a total market capitalization of $83.03 billion.

Key resistance looms at $1.55Analyst Ali Martinez, a well-known figure in crypto market commentary, has flagged the formation of an inverted head-and-shoulders pattern for XRP on the daily chart. According to Martinez, the pattern’s neckline sits at $1.55—a price that now represents a critical resistance level for the token. A confirmed breakout above $1.55 could validate a technical upside target near $2, with Martinez citing a 35% potential move upon confirmation of the pattern.

XRP’s price action centers on whether buyers can push the token through the crucial $1.55 resistance, which, if breached, validates the inverted head-and-shoulders pattern and opens the path to $2.

Despite recent gains, XRP remains below this resistance zone. Technical indicators reinforce the significance of $1.55 in the near term, as current price movements have not yet overcome this hurdle.

Technical outlook and momentum indicatorsOn the technical front, XRP’s price sits beneath the midpoint of the Bollinger Bands at $1.36755, while the upper and lower bands are placed at $1.45947 and $1.27564, respectively. A decisive move above $1.36755 may strengthen short-term sentiment and set the stage for a test of the $1.45 level, before potentially approaching the $1.55 neckline.

Price LevelRole$1.55Neckline resistance (inverted H&S pattern)$1.36755Bollinger Bands midpoint$1.45947Upper Bollinger Band$1.27564Lower Bollinger Band / support$2.00Technical target if breakout confirmedA drop below $1.27564 would undermine the current recovery, while upward momentum could resume if XRP reclaims higher bands. The MACD indicator currently suggests lingering downward momentum, with a MACD value of -0.01967 and the MACD line remaining below the signal line. A bullish crossover in the MACD would further support a positive scenario for XRP.

The technical setup remains in focus as traders monitor the $1.55 level for clues on the next significant move.

Evernorth secures $30 million for XRP-linked activitiesEvernorth, a treasury management company specialized in the XRP ecosystem, has announced a major funding milestone. The firm agreed to issue $30 million worth of 4% convertible senior PIK notes maturing in 2031 to NH Investment & Securities, acting on behalf of Kyobo AIM Corporate Finance General Private Investment Trust No. 3. The financing is contingent on the successful completion of a planned SPAC merger.

A portion of these funds could be allocated to acquiring XRP tokens or supporting related initiatives within the XRP ecosystem. However, the financing does not guarantee an immediate or direct $30 million purchase of XRP.

Evernorth’s planned Nasdaq listing through its SPAC merger marks a critical step for the company. Its registration statement was declared effective in August, and shareholders of merger partner Armada will vote on the deal by September 30. Once the merger finalizes, the combined entity will trade as XRPN.

The Evernorth transaction reflects growing institutional engagement with the XRP asset and associated markets.

Mini dictionary: Evernorth, an XRP-focused treasury management company, is moving toward a Nasdaq listing via a merger with Armada. Its business is tied to facilitating institutional use of the XRP token and promoting related financial solutions.

Market outlook remains conditionalThe prospects for XRP’s advance toward $2 rely both on technical factors and the unfolding institutional narrative. A breakout above $1.55 may energize bulls and validate the inverted head-and-shoulders move, while failure to close above this threshold could cap XRP’s recovery in the near term.

Meanwhile, institutional developments such as Evernorth’s financing and SPAC merger may foster additional interest in the asset, pending completion of required approvals and corporate milestones.

In summary, XRP’s current outlook is shaped by both technical dynamics around the $1.55 level and institutional shifts such as Evernorth’s proposed capital raise and public listing.

Senator Josh Hawley has sparked controversy in the cryptocurrency community after the U.S. Senate voted against the CLARITY Act, a bill that aimed to establish a regulatory framework for digital assets. The legislation fell short of the 60 votes needed, securing just 49 votes. This outcome disappointed advocates of clearer crypto regulation, including many in the XRP community.

Senator Hawley voices opposition concernsHawley, a Republican representing Missouri, was among four party members to vote against the bill. He attributed his decision to concerns from the state’s agricultural community, stating that local farmers worried they could lose access to loans from small-town banks if the bill passed. According to Hawley, there was a fear that investors would withdraw funds from these banks seeking higher yields enabled by the legislation, potentially putting rural lending at risk.

Hawley further explained that the provision could drain capital from community banks critical to rural economies. He referenced Senator Jerry Moran’s proposed amendments aimed at addressing these banking concerns and indicated willingness to consider fixes to ensure small banks remain operational and competitive in lending practices.

Schwartz challenges senator’s motivesDavid Schwartz, Ripple’s CTO Emeritus and a key architect of the XRP Ledger, quickly replied to Hawley’s public comments on X. Schwartz’s remarks suggested that the senator’s objection reflected a desire to protect bank profits over encouraging innovation in the financial sector.

Schwartz described the senator’s statement as “saying the quiet part out loud,” asserting that the real issue was safeguarding established banking interests.

Ripple is a fintech company focused on developing payment and settlement solutions using blockchain technology and is closely associated with XRP, a leading cryptocurrency used for cross-border transactions.

Mini dictionary: Ripple, a U.S.-based fintech company, develops blockchain-driven payment and settlement infrastructure for banks and financial institutions. XRP Ledger is its decentralized public blockchain, supporting the XRP digital asset.

Several major banking associations reportedly joined forces to lobby against the CLARITY Act, reinforcing Schwartz’s view that institutional resistance influenced the Senate’s decision more than the stated concerns for rural lending.

Arguments over impact on loans and farmersSchwartz dismissed Hawley’s argument that passing the bill would jeopardize loan access for farmers. He wrote on X that the act would not significantly reduce the ability of banks to issue loans. Even if it did, Schwartz argued, new alternative sources of capital would emerge to fill any gaps left by banks, supporting rural borrowers and agricultural businesses.

Schwartz maintained that, “A thriving ecosystem of investors seeking reasonable yields would emerge to provide those same loans, replacing any lost bank capacity.”

He challenged the premise that traditional banking structures are essential for supporting agricultural lending, suggesting the bill could enable more diverse financial options without harming rural communities.

Implications for XRP and crypto regulationThe rejection of the CLARITY Act leaves XRP and the broader crypto sector without a comprehensive federal regulatory framework. The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are expected to continue overseeing the sector through guidance and enforcement actions rather than through legislation.

Paul Atkins, Chair of the SEC, has previously emphasized that regulatory guidance alone is insufficient without statutory backing. With the bill’s defeat, the crypto industry remains reliant on evolving agency interpretation.

Many XRP holders and blockchain advocates argue the Senate vote protects institutional power at the cost of industry growth and regulatory certainty.

XRP Ledger, the distributed blockchain network that underpins $XRP, has rolled out a major software upgrade aimed at boosting efficiency, reliability, and security across its system.

Main features of version 3.4.0Version 3.4.0, launched this week, introduces a broad range of improvements, protocol changes, and bug fixes. The update also brings two new amendments, including an enhanced version of the network’s lending functionality. These changes collectively aim to streamline network operations and offer a more robust foundation for future developments.

While most adjustments take place under the hood, they are critical for how XRP Ledger servers operate. These servers are responsible for validating transactions, maintaining ledger copies, and interacting with other infrastructure nodes. By implementing these changes, the network aims to ensure smoother and more reliable performance for all participants.

Performance enhancements and protocol safeguardsAmong the notable updates, version 3.4.0 changes how servers handle the deletion of older ledger data. Previously, servers could continue removing outdated data even when recent transaction histories contained gaps. The new version alters this behavior by automatically pausing online deletion when such gaps are detected. This update is expected to help prevent servers from lagging behind in processing recent transactions during data cleanup.

Another technical enhancement focuses on Multi-Purpose Tokens, streamlining checks so that servers do not unnecessarily re-read the same data to determine if assets are frozen. These refinements are intended to increase the overall speed and efficiency of the network’s operation.

Mini dictionary: Multi-Purpose Tokens (MPTs) are a type of digital asset on the XRP Ledger that can represent various financial instruments or functions beyond simple value transfer, expanding the potential use cases on the network.

The latest release further addresses security by introducing protections against oversized transaction messages and refining server responses to unusual inputs or edge cases. These measures include stricter validation for certain transaction fields and safeguards limiting database operations that could overuse computing resources.

Software improvements and upgrade recommendationsIn addition to security and performance updates, the upgrade features significant maintenance work within the codebase. Developers have modernized numerous components, replaced outdated software libraries, and enhanced the test infrastructure, aiming for long-term network stability.

XRP Ledger’s developer community urges all node operators and administrators to transition their servers to version 3.4.0 promptly. Adopting this release is necessary for continued access to new features and uninterrupted service as the network prepares to implement its latest protocol amendments.

Version 3.4.0 of the XRP Ledger introduces crucial performance gains, a series of bug fixes, and tighter security, with a particular focus on ensuring servers remain up to date and resistant to edge-case scenarios.

The update marks another step in the ongoing evolution of XRP Ledger, which seeks to balance innovation and reliability for both institutional users and everyday participants.

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 Chief Technology Officer Emeritus and XRP Ledger architect, David Schwartz, has drawn the community's attention to yet another scam scheme on social network X.

By posting a pair of text GIFs under a fake post, the blockchain industry veteran personally pointed to the threat, which appears to have triggered a wave of user reports and led to the rapid suspension of accounts impersonating crypto wallet Xaman.

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The incident unfolded in the comments under posts by a hacked account of culture magazine "NplusOneMag", where scammers had launched an aggressive promotional campaign for a fake airdrop. 

Instead of going through lengthy corporate procedures and preparing official statements, one of the chief architects of the XRP Ledger personally entered the scammers' thread and posted memes saying: "I can spot a scam from a mile away" and "This is a scam."

How XRP's "Guerrilla War" works and why it has to be fought manuallyFor the crypto community, Schwartz's reaction became a call to action. Users flooded the platform's administration with reports, helping get the fraudulent thread completely blocked before unsuspecting investors had time to lose funds.

For Schwartz, this fight is a routine guerrilla war. His profile has carried a pinned warning post for months: "Anyone claiming to be me on Instagram or Telegram is a scammer. Stay safe, XRP family."

Pinned scam alert posted by Ripple's CTO to warn the XRP community. Source: David Schwartz on X.comAcross the XRPL ecosystem, attacks targeting wallets have long become systematic. Scammers use the mechanics of hidden trading offers (Hidden Buy Offers) through NFT spam campaigns. Once a user approves a transaction in pursuit of a supposed bonus, the malicious transaction can completely drain their XRP balance.

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Security in the retail sector still depends heavily on the personal vigilance of asset holders and the rapid manual response of the company's senior figures. Scammers will continue creating mirror accounts, and developers will continue getting them blocked. The only question is who will be faster during the next attack.

An amendment under review by trusted validators could introduce a significant new financial tool to the XRP Ledger, enabling native borrowing of RLUSD stablecoin against XRP. The proposed amendment, called Permission Delegation and established on the XLS-75 standard, would allow XRP Ledger accounts to delegate transaction permissions without sharing signing keys.

Flare Network’s Vision for RLUSD on XRPLHugo Philion, co-founder of Flare Network—a blockchain network focused on smart contract interoperability—outlined a scenario where users could borrow RLUSD, a decentralized USD-pegged stablecoin, directly against their XRP. He proposed using Flare’s smart account technology so that RLUSD would be delivered on the XRP Ledger itself, rather than requiring users to move assets to other blockchains or exchanges.

For this feature to become a reality, the Wormhole bridge for RLUSD must be activated, and this process depends on validators approving the Permission Delegation amendment. Flare Network is known for facilitating interoperability between blockchains, aiming to expand DeFi access on networks such as XRP Ledger.

Mini dictionary: Wormhole bridge, a cross-chain protocol that enables asset transfers between different blockchains, allowing tokens like RLUSD to move between Flare Network and the XRP Ledger.

Philion stressed his ambition for users to directly borrow RLUSD using their XRP holdings via Flare smart accounts, receiving those funds natively on the XRP Ledger. He emphasized that for this to be achieved, both the Wormhole bridge for RLUSD and the Permission Delegation amendment must be in place.

Validator Voting ProgressThe amendment vote commenced with the launch of XRP Ledger’s version 3.3.0 on August 12, 2026. Data from XRPScan as of September 16 indicate that 23 out of 35 trusted validators have expressed support for the change, equating to a consensus rate of nearly 66%. The amendment will require at least 29 affirmative votes, representing over 80% validator approval, maintained over a two-week window for activation. Consequently, six more validators are needed before the amendment can be implemented.

The validator voting chart highlights gradual and steady growth in support, rising from zero at launch to the current levels, with the pace of adoption accelerating recently. While the outcome remains uncertain, the trend points towards broader acceptance.

RequirementCurrent SupportNeeded for ActivationTotal Validators3535Votes in Favor2329Consensus (%)65.71%80%+Potential Impact on XRP UtilityIf enacted, Permission Delegation would for the first time allow XRP holders to borrow RLUSD against their assets without leaving the strict confines of the XRP Ledger. At present, users seeking such liquidity need to rely on third-party exchanges or external protocols. Flare’s collaboration and the introduction of the Wormhole bridge infrastructure aim to address this limitation and promote XRPL-native lending.

Enabling on-chain collateralized borrowing is expected to appeal to institutions looking to deploy capital efficiently as well as retail holders seeking liquidity without sacrificing their XRP positions. This broader access to liquidity could attract new participants and increase the appeal of holding XRP within the ecosystem.

Bringing new financial tools such as on-chain RLUSD borrowing to the XRP Ledger strengthens its overall utility and encourages broader adoption by both individual and institutional participants.

By enhancing the productive use of XRP as collateral, the amendment and accompanying infrastructure could create fresh demand within the network. Supporters argue that such developments often correlate with heightened interest and potential price gains for the underlying token.

Interim Solutions and OutlookWhile the full integration awaits validator consensus, Philion highlighted that Flare is working on a temporary solution. Until the Wormhole bridge is fully operational, users will be able to receive borrowed RLUSD credits to their exchange accounts rather than directly to their XRPL addresses. The ultimate goal remains for validators to cross the 80% approval threshold, unlocking the envisioned cross-chain borrowing capabilities.

No timeline has been set for when the final votes may be cast, but the amendment’s gradual progress is being closely watched within the broader XRP and Flare communities.

On the afternoon of Sept. 15, 2026, more than 1,500 crypto holders lost their XRP in a major attack that targeted the D’CENT app wallet.

Notably, between 16:29 and 18:34 UTC, a period of just two hours and five minutes, attackers drained 1,552 wallets and took a total of 2,009,321 XRP, worth over $2.8 million at the time. 

All the affected users had at some point used D’CENT, a Korean wallet app and hardware-device maker with a large user base across Asia, the United States, the United Kingdom, and Canada. 

Hours after the event, D’CENT warned users to move their funds immediately. The company said the incident appeared to affect only its software-based App Wallet and not its hardware devices.

Important Update Regarding the DCENT App Wallet

To date, abnormal asset transfer cases have been identified involving the DCENT App Wallet. So far, we have not confirmed any impact originating from DCENT Hardware Wallets themselves.

Please follow the guidance below based on how… pic.twitter.com/z0XYr4zMfD

— DCENT Wallet (@DCENTWALLETS) September 16, 2026

How the Attackers Drained 2M XRP Records reviewed by blockchain analytics resource XRPL.to show that the attack came in two waves and involved automated software. 

The first wave started at 16:29 UTC with a small transfer. Specifically, the attacker moved 9 XRP from a wallet holding 10 XRP into a newly created address. Over the next 14 minutes, the script went through its target list and drained 204 wallets, collecting 19,787 XRP.

However, the script ran into a problem. About 30 seconds into the attack, it tried to empty a wallet holding slightly more than 49,207 XRP but failed. 

This is because, besides the 1 XRP reserve required for each account on the XRP Ledger to maintain as a balance, they also need another 0.2 XRP for each additional object they hold, such as a trust line. 

The script only allowed for the basic 1 XRP reserve. As a result, it could not drain wallets that held trust lines. When the first wave stopped at 16:44, the script had recorded 72 failed attempts.

The attacker then changed tactics. Notably, the automated script paused for 33 minutes, while another tool manually drained the 12 largest wallets on the target list. Each held more than 42,000 XRP. 

The operator moved the funds one wallet at a time, with transfers coming roughly every 10 to 30 seconds, into a second newly created address. By 17:13, that address held 730,954 XRP, more than one-third of the total stolen amount. It has not moved any XRP since then.

At 17:17, the automated attack started again after the attacker fixed the reserve calculation. The updated script accounted for the extra reserve required for every object held by an account. 

This second and much larger wave continued until 18:34. It drained another 1,336 wallets and collected 1,258,563 XRP. The script moved through the wallets at about 17.6 accounts per minute and calculated the required amount correctly in most cases.

The List Was Already in Hand The order of the targeted wallets shows how the attack was prepared. Interestingly, the attackers did not just look for wallets with the largest XRP balances. Instead, the script moved through the accounts almost in the same order in which they had originally been created.

XRPL.to analysts found a 0.65 correlation between the order of the attacks and wallet creation dates. The correlation between the attack order and wallet balances was only 0.09. 

This suggests that the attackers did not scan the XRP Ledger in real time to find wealthy accounts. They appear to have already had a list of compromised wallets and then worked through that list.

This also suggests that the attackers had access to the private keys before the first transaction took place. The XRP Ledger records show exactly when the funds moved and where they went, but they do not show how the attackers obtained the private keys for the 1,552 wallets.

Looking to Cash Out the XRP The attackers also started moving the stolen XRP toward exchanges before they finished draining the wallets. At 18:25 UTC, while the second wave was still underway, more than 719,000 XRP moved to a new address. The operators then split the funds into smaller amounts.

This included 11 transfers of 6,000 XRP each to disposable wallets. These wallets then immediately deleted themselves into a laundering hub. The same process continued for about four hours. The first stolen funds reached Binance at 20:18 UTC.

In the early hours of Sept. 16, about 118,400 XRP moved through the Bridgers cross-chain bridge service in 10 separate transactions between 01:48 and 03:07 UTC. By around 05:30 UTC, several cash-out wallets had deleted themselves into a second laundering hub.

Notably, the laundering hub was also not new. It had been created on Aug. 9 through a KuCoin withdrawal and had already processed more than 1.36 million XRP through similar drains. This suggests that the Sept. 15 attack was the operation’s biggest day, not its first.

Who Got Hit, and What’s Still Unknown The affected wallets largely belonged to users who had been in crypto for several years. Most of the wallets had been created between 2021 and 2023. The youngest wallet on the target list dated to March 2024, and investigators found no newer wallets among the victims.

The wallets also showed links to several exchanges. Binance had originally funded about 15.7% of the affected wallets. South Korean exchanges Coinone, UPbit, and Bithumb collectively activated close to one-quarter of the compromised accounts. This is consistent with D’CENT’s large user base in South Korea.

By Sept. 16, about 1.8 million of the 2 million stolen XRP remained in wallets controlled by the attackers. Only around 236,000 XRP had reached an exchange or bridge. At press time, it remains unclear how the attackers first obtained the private keys.

Bitget, one of the world’s largest Universal Exchanges (UEX), has upgraded its Proof of Reserves (PoR) from four cryptocurrencies to 19 major assets, significantly widening the share of user holdings covered by its reserve verification infrastructure. The upgrade extends both platform-level reserve disclosures and personal Proof of Assets verification, giving users greater visibility into how assets held on Bitget are accounted for and the ability to independently verify their inclusion in reserve snapshots.

As exchanges expand the range of assets they support, reserve transparency needs to keep pace. The latest upgrade moves Bitget closer to making verification a standard layer across its ecosystem, rather than a safeguard limited to core cryptocurrencies.

The expanded coverage includes BTC, USDT, ETH, LTC, LINK, XRP, USDC, DOGE, BNB, SOL, ADA, NEAR, XAUT, TAO, SUI, ONDO, HYPE, PI, and USDGO. Through the upgraded PoR page, users can view the reserve ratio and amount of user assets for each supported asset, assess if reserves are sufficient, and see how user assets are distributed across different public blockchains. 

Personal Proof of Assets verification has expanded across the same range, allowing users to independently check whether their holdings were included in a PoR snapshot using Merkle Tree verification. Detailed audit records, including Merkle hashes and snapshot information, remain available for users seeking deeper verification.

Bitget has published Proof of Reserves monthly since its launch in December 2022. As of August 2026, the platform had published 45 consecutive PoR reports, with its latest report showing a total reserve ratio of 122%, remaining above the 1:1 reserve standard. Bitget uses Merkle Tree technology to aggregate and verify user assets, allowing users to independently confirm whether their holdings are included in a particular Proof of Reserves snapshot. Users can also download the relevant data and further verify their asset records using publicly available verification methods.

“Users shouldn’t have to simply take our word for it, they should be able to verify their assets for themselves,” said Gracy Chen, CEO of Bitget. “Proof of Reserves has been part of Bitget’s transparency framework for nearly four years, and as the assets people hold on our platform become more diverse, that verification needs to expand with them. Expanding from four assets to 19 gives more users that visibility.”

For assets outside the scope of a particular audit, or where corresponding personal records have not yet been generated, Bitget’s Proof of Assets interface provides relevant notices to help users interpret their audit results accurately. As UEX brings a broader range of assets and markets into one trading environment, Bitget is extending the systems that allow users to independently examine what sits behind their holdings. Proof of Reserves, the Protection Fund, and Bitget’s broader security infrastructure form part of that approach, with the goal of making security increasingly measurable and verifiable as the ecosystem grows.

For more information, visit here. 

About BitgetBitget is one of the world’s largest Universal Exchanges (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 500+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships such as MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently expands in the tokenized TradFi market, providing the industry’s lowest fees and highest liquidity across 150 regions worldwide.

For more information, visit: Website | X | Telegram | LinkedIn | Discord

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

Disclaimer

This third-party press release is published substantially as received and does not reflect BeInCrypto's editorial views. BeInCrypto has not independently verified its claims or assessed the suitability, legality or appropriateness of any referenced asset, product or service; publication is not an endorsement. The content is general information, not investment research, financial, investment, legal or tax advice, a personal recommendation, offer or solicitation. Verify all information and seek professional advice where appropriate before acting. Crypto-assets may result in total loss.

Franklin Templeton’s XRP exchange-traded fund has recorded another round of fresh investor demand, with XRPZ attracting roughly $3.5 million in net inflows.

The Franklin XRP ETF was the only XRP fund to record positive flows for the day, according to the latest fund-flow data. 

More precisely, separate SoSoValue data put XRPZ’s Sept. 16 net inflow at $3.5013 million. The fund has now accumulated roughly $483 million in net inflows.

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CoinGlass data supplied for the preceding sessions shows that XRP ETFs recorded $2.73 million in net inflows on Wednesday, with the entire amount attributed to Franklin’s XRPZ. 

There were no net flows recorded on Sept. 15. One day earlier, however, XRP ETFs attracted $8.40 million.

On Sept. 11, the funds recorded no net inflows or outflows. Franklin then accounted for all of the $3.69 million in net inflows recorded on Sept. 10.

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Sept. 9 was one of the stronger recent sessions. XRP ETFs attracted approximately $8.67 million in total, including $6.57 million flowing into Bitwise’s product and another $2.11 million going into Grayscale’s XRP fund.

Franklin has been one of the most consistent sources of fresh XRP ETF demand during September. 

XRP's most recent price drop The fresh ETF inflows are particularly notable because they have come against the backdrop of a dramatic selloff in XRP.

XRP plunged sharply after the U.S. Senate failed to advance the CLARITY Act on Sept. 15. As reported by U.Today, the procedural motion fell short of the 60 votes required to move the legislation forward, dealing a major setback to the cryptocurrency industry and triggering broad risk-off selling across digital assets.

CoinGecko historical data shows XRP trading at roughly $1.42 on Sept. 14 before falling to around $1.28 on Sept. 15, amounting to a decline of approximately 10%. XRP subsequently recovered modestly to around $1.30.

At the latest reading provided by CoinGecko, XRP was changing hands near $1.30, with a 24-hour range of roughly $1.25 to $1.31. The token remained down about 6.7% over the previous seven days and roughly 30.1% over the past month.

Ripple just gave AI agents their own crypto wallet. The company launched the XRPL AI Starter Kit on June 10, a developer toolkit designed to let autonomous AI systems conduct payments on the XRP Ledger without human intervention.

The kit integrates XRPL into the x402 open payment protocol, which already counts Stripe, Coinbase, and Cloudflare among its supporters. AI systems can now pay for API access, model inference, and other digital services using XRP or Ripple’s RLUSD stablecoin, all on their own.

What’s actually in the toolkit Phase 1 of the starter kit includes tools that allow AI clients, including Anthropic’s Claude, to interact directly with XRPL documentation. The practical capabilities are straightforward but meaningful: wallet creation, transaction monitoring, and real-time payment processing.

The integration runs through a partner called t54, which bridges XRPL into the x402 protocol. That protocol has been processing a substantial volume of machine-to-machine transactions, with estimates placing throughput between 75 and 120 million transactions in recent months, worth tens of millions of dollars in aggregate value.

XRPL brings some specific technical advantages to this setup. Settlement times run between 3 and 5 seconds, fees are predictable rather than volatile, and the ledger includes a native decentralized exchange.

The Mastercard connection and Tempo’s parallel track Ripple also joined Mastercard’s Agent Pay for Machines program, a consortium of over 30 industry partners building infrastructure for agentic commerce. Stripe and Coinbase are also members.

Running on a parallel track is Tempo, which co-authored the Machine Payments Protocol with Stripe and launched its own mainnet back in March 2026. MPP and x402 are distinct standards tackling the same problem.

Why this matters for XRP’s utility thesis XRP and RLUSD are positioned as the settlement assets for machine-to-machine transactions on the XRPL side. Coinbase has its own x402 integration running on Base. Tempo’s MPP, backed by Stripe’s distribution, could capture market share independently of x402.

Ripple’s advantage is timing and partnerships. Being integrated into x402 alongside Stripe and Coinbase, while simultaneously joining Mastercard’s agentic commerce program, gives XRPL presence across multiple emerging standards.

The 75-to-120 million transaction range already processed through x402 suggests real usage. Machine payments infrastructure is attracting real usage, and Ripple has placed itself squarely in the middle of it.

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

The XRP Ledger set a new benchmark by processing 3,254 transactions in a single ledger closure, signaling a technical leap in the network’s transaction-handling capabilities.

XRPL achieves transaction density milestoneDigital Asset Investor highlighted this achievement on X, noting that the ledger reached its new record for the second consecutive day. The surge in transaction volume came shortly after the fixCleanup3_3_0 protocol amendment went live, a change designed to optimize technical resource management on the mainnet.

The amendment’s improved cleanup processes eased system overhead, enabling the XRPL to handle a particularly dense batch of activity without network disruption. According to validator operator Vet, the ledger processed all 3,254 transactions in a single block just hours before the announcement—an event described as unprecedented for the protocol.

XRPL’s processing of 3,254 transactions in about 3.5 seconds demonstrates the network’s ability to manage intense bursts of activity and highlights tangible results from the latest infrastructure update.

The XRPL is distinct from other blockchains due to its flexible capacity. Instead of fixed block sizes, the protocol dynamically adjusts ledger limits based on current network demand, allowing for variable throughput in each ledger close.

During the latest event, this meant over 900 transactions per second were processed in a roughly 3.5-second window, far exceeding usual figures and underscoring the value of recent performance enhancements.

Technical gains tied to protocol improvementsThe new record followed the deployment of fixCleanup3_3_0, a protocol change aimed at streamlining how the network clears technical resources after closing a ledger. By making system cleanup more efficient, the amendment directly contributed to the ledger’s capacity for handling bursts in transactional demand.

Network observers caution, however, that the record-setting activity does not confirm the involvement of any specific participants. The spike could stem from automated operations, experimental load tests, or batch processing, rather than being driven purely by major liquidity providers or banking institutions.

Despite speculation surrounding institutional interest, no concrete signals currently link the high-density event to broader market movements.

Optimized resources spark market interestDigital Asset Investor interpreted the consecutive records as a possible sign of larger developments in progress on the XRP Ledger. He referenced the test-like nature of the events and suggested the network could be on the verge of further advancements.

The consecutive transaction records may represent final testing phases, potentially setting the stage for the network to scale to even higher volumes in the near future.

Such protocol-level improvements can be crucial for future enterprise and automated trading applications that depend on fast, reliable settlement. Nevertheless, observers point out that increased throughput alone does not guarantee immediate changes in XRP’s market price.

Amid rapid shifts in crypto, even a lone decision from the Federal Reserve or a surprise altcoin listing has the potential to upend markets in moments. Navigating these fluctuations is increasingly challenging for active traders, especially when managing multiple apps for market charts, breaking news, and portfolio monitoring can lead to missed opportunities. Many traders are now turning to privacy-centric, all-in-one platforms like CryptoAppsy, which consolidate real-time charts, smart price alerts, token-specific news, and relevant macroeconomic indicators in a single dashboard—no account required.

Ultimately, the 3,254-transaction record serves as a concrete measure of XRPL’s enhanced technical performance, providing stakeholders with new data on the network’s ability to handle heavy transaction spikes following a protocol optimization.

The XRP Ledger has been added as a settlement option in the Machine Payments Protocol (MPP), the open standard for AI agent payments co-developed by @stripe and @tempo. The integration is powered by @Ripple's XRPL AI Starter Kit and expands the set of payment rails available to autonomous software agents operating within the protocol.

How the XRPL Integration Works Under the integration, AI agents can stream ripple:native over XRPL's native payment channels and settle the full session balance in a single on-chain transaction. Ripple's open-source xrpl-mpp-sdk handles the MPP handshake, credential and receipt envelopes, and the cumulative-voucher session model. Settlement uses XRPL's native PayChannel primitive: a PaymentChannelClaim carrying the close flag settles the cumulative amount to the destination, removes the channel entry, and returns any unspent deposit to the sender, all in one step.

The approach maps closely to MPP's session intent, which describes settlement as a symmetric operation where either party can close the channel and resolve the final balance on-chain.

MPP Background and Broader Ecosystem Support According to Tempo's documentation, the Machine Payments Protocol is an open standard for machine-to-machine payments that lets agents, applications, and people pay for services inline with an HTTP request, without requiring advance setup of API keys or billing accounts. The protocol is payment-method agnostic and supports stablecoins, cards, and other payment rails. @stripe and @tempo launched it alongside Tempo's mainnet in March 2026.

@XRPLF has also confirmed that XRPL is now supported in the Open Wallet Standard (@OpenWallet), an open-source specification that defines how AI agents store, sign, and manage keys across multiple blockchains. The standard currently covers a broad range of chains including EVM networks, Solana, Bitcoin, and XRPL, with private keys stored encrypted locally and never exposed to the agent process.

Together, the MPP and Open Wallet Standard integrations position XRPL as part of a growing stack of infrastructure aimed at enabling autonomous AI agents to transact across the internet without human intermediaries.

Sources:
Ripple – xrpl-mpp-sdk (GitHub)
Tempo – Machine Payments Protocol FAQ
Open Wallet Standard – Core (GitHub)

Table of contents

Louisville Athletics announced a multi-year partnership with Ripple on September 15, bringing XRP branding to the Cardinals’ basketball programs beginning this season. Under the deal, detailed in the university’s official announcement, the XRP logo becomes a permanent fixture on Denny Crum Court while Ripple also funds financial and technology education for student-athletes. Ripple describes XRP as an asset designed to move money around the world in seconds at a fraction of the cost of traditional banking, developed for fast and low-cost global payments.

XRP Branding Comes to Denny Crum Court The XRP logo will appear on the playing surface for every Louisville home game, while Coach Denny Crum’s iconic insignia remains a permanent fixture inside the three-point arc. Beyond the court, XRP branding will extend to TV-visible courtside signage and in-venue promotions throughout the KFC Yum! Center, as well as the program’s digital and social channels and men’s and women’s basketball radio broadcasts. Louisville did not disclose financial terms of the agreement, which was facilitated by the Cardinals’ multimedia rights partner, Learfield, a media and technology company that works with more than 1,200 collegiate institutions.

Education and Adoption at the Center of the Deal The partnership carries an educational component, with Ripple supporting financial and technology instruction for student-athletes and the broader campus community across both traditional finance and digital assets. Athletics director Josh Heird said Ripple “was very intentional about aligning with premier basketball brands,” adding that the deal “speaks to the strength of our basketball tradition, the national reach of the Louisville brand and the passion of our fan base.” Learfield’s president of sports properties, Kim Damron, said the agreement will “expand XRP’s presence in the college sports landscape.”

Ripple’s Expanding College Sports Footprint The Louisville agreement is the latest in a series of collegiate sponsorships from the XRP developer, which previously put its logo on the field through a deal with Florida Athletics. The push reflects XRP’s broader move into mainstream finance and consumer adoption, a trend BlockchainReporter has tracked as XRP expands deeper into traditional finance. Ripple, founded in 2012, provides payments, custody, prime brokerage and treasury management solutions, holding more than 85 licenses as a single entry point for enterprises bridging traditional and digital finance on the XRP Ledger.

AUTHOR

Tokoni Uti is a Lagos-based writer with several years of experience. Her work has appeared in the Huffington Post, the Los Angeles Free Press and the San Diego Free press among others. She is a graduate of Bowen University.

The CLARITY Act failed to advance in the US Senate on Tuesday, September 15, dealing a major setback to the crypto industry’s biggest regulatory push in years.

Senators voted 49-50 on a procedural motion to move forward with the bill. It needed 60 votes. The vote was on whether the Senate should begin considering the legislation, rather than final passage.

So why did it fail?

1. Democrats Wanted Trump to Sell Large Crypto Holdings
This became the biggest disagreement in the final hours.

Republicans made a major concession before the vote. Their final bill required senior officials with a “significant financial interest” in certain crypto companies to either sell that interest or place it in a qualified blind trust.

Democrats wanted to go further.

Their final counteroffer would have required officials with a “very large interest” in a crypto company to sell it, removing the blind-trust option for those holdings. Democratic negotiator Angela Alsobrooks said divestment was the major unresolved issue before the vote.

The difference is simple. Under the Republican proposal, an official could remain financially invested through a blind trust. Democrats wanted very large interests sold completely.

Crypto billionaires have spent nearly $300M on the midterm elections.

Meanwhile, Trump and his family have pocketed more than $1.4B from crypto deals.

Now the crypto industry wants Congress to do its bidding by passing the corrupt CLARITY Act.

The Senate must say NO.

— Bernie Sanders (@BernieSanders) September 15, 2026

2. Democrats Wanted the Rules to Cover Trump’s Children
The Republican bill covered senior elected officials, federal judges and their spouses. Democrats wanted the ethics restrictions expanded further, including to children of covered officials. 

That was particularly relevant because Donald Trump Jr., Eric Trump and Barron Trump have links to World Liberty Financial.

The Democratic counteroffer also sought tighter restrictions around paid crypto promotions.

Republicans rejected those additional changes on Tuesday morning. Sen. Cynthia Lummis’ office argued Democrats were repeating demands Republicans had already considered during months of negotiations.

Today, I voted no on the Clarity Act, legislation meant to regulate cryptocurrency in America.

The ethics provisions in this bill are simply too thin. President Trump, his children, and his Cabinet are making billions of dollars in the crypto space, in part from bilking everyday…

— Sen. Elissa Slotkin (@SenatorSlotkin) September 15, 2026

3. Democrats Still Had Concerns About Who Would Enforce the Rules
Republicans had already moved considerably on enforcement.

Earlier versions gave the US attorney general the main enforcement role. Democrats argued that created an obvious problem: a Justice Department controlled by the president could be responsible for enforcing ethics rules against that same president.

The final Republican bill gave state attorneys general a role in enforcement, one of the concessions President Trump accepted before the vote.

Democrats still argued that the mechanism left too much authority inside the federal administration and could make enforcement difficult in practice.

Hot take: Trump coin, World Liberty, USD1, and Melania coin are why CLARITY failed.

An unprecedented $1.3 billion pocketed. More than all past U.S. presidents made during their terms combined.

— Dennis Porter (@Dennis_Porter_) September 15, 2026

4. Banks and Crypto Companies Were Still Fighting Over Stablecoin Rewards
Ethics was the final major obstacle, but another fight remained unresolved.

Banks have warned that stablecoins paying rewards could pull deposits out of traditional banks. That could particularly hurt smaller community banks that rely on deposits to fund loans.

The final CLARITY draft gave the Treasury secretary temporary authority to restrict stablecoin rewards if they caused damaging deposit outflows.

Some lawmakers still wanted stronger protection for banks. Sen. Josh Hawley, one of the Republicans who opposed advancing the bill, raised concerns about community banks.

The CLARITY Act didn't advance in the Senate today, which was a disappointment. While it's possible bi-partisan conversations continue and it lives to fight another day, we can't wait on Congress anymore.

The SEC and CFTC have the tools they need to create clear rules under…

— Brian Armstrong (@brian_armstrong) September 15, 2026

5. Illicit Finance and DeFi Rules Were Still an Issue
Democrats also wanted stronger protections around money laundering, national security and illicit finance.

The latest Republican draft made changes to DeFi regulation and anti-money laundering requirements. However, lawmakers including Elizabeth Warren argued that more work was still needed.

These issues contributed to the wider disagreement, although divestment and presidential ethics were the clearest final sticking points.

Crypto Prices Fell Before the Vote Was Even Over
The reaction has been clearly negative, especially in assets most exposed to U.S. crypto regulation. Bitcoin fell more than 5% during Tuesday’s sell-off, while Coinbase and Circle shares fell as much as 10%. Ethereum dropped more than 6%, while XRP lost roughly 12% at one point.

Part of the decline began before the Senate vote.

Markets could see negotiations breaking down during the morning. That meant traders were already reducing risk before senators officially voted.

CLARITY was also only one source of pressure.

US Treasury yields climbed above 5%, oil prices surged above $100 and markets were preparing for a Federal Reserve interest-rate decision on September 16. Higher interest rates generally make risk assets such as crypto less attractive.

Will Crypto Prices Keep Falling?
Further losses are possible, although CLARITY alone may have already caused most of its immediate damage.

Dennis Porter, co-founder of Satoshi Action Fund, made this argument to BeInCrypto more than a month before the vote.

“I think failure is priced in right now,” Porter told BeInCrypto.

At the time, Polymarket gave CLARITY only around a 16% chance of becoming law in 2026. Porter argued that a failed vote could therefore have less impact on crypto prices than many investors expected.

He also said clear rules could encourage larger institutions to make longer-term crypto investments. He expected that benefit to appear gradually rather than produce an immediate Bitcoin rally.

So far, that argument has partly held up.

Bitcoin suffered a meaningful decline after negotiations collapsed, but there has been no CLARITY-driven market crash on the scale that might occur after a completely unexpected regulatory shock.

Assets more directly exposed to US crypto regulation were hit harder. XRP fell much more sharply than Bitcoin, while Coinbase suffered a double-digit decline.

The next major market driver is now likely to be the Federal Reserve.

If rates rise and the Fed signals further tightening, crypto could face more pressure. A softer message could instead help risk assets recover.

What Happens to the CLARITY Act Now?
The bill is stalled, but there is still a route to revive it.

September 15: The Senate failed to invoke cloture, with the vote ending 49-50.
Before October 5: Senators could reopen negotiations and attempt another procedural vote if Republicans and Democrats reach a new compromise.
October 5-November 6: The Senate is scheduled for a state work period covering the November 3 midterm elections.
After November 6: Congress could try again during the post-election session.
December 18: The Senate’s current schedule lists this as its target adjournment date.
January 2027: If Congress does not pass the legislation before the current Congress ends, lawmakers would have to introduce legislation again in the next Congress.

There is one important procedural detail.

Republican Sen. Thom Tillis switched his vote to “no” at the end of Tuesday’s vote, preserving a route to seek reconsideration later. That means another attempt remains possible if negotiators can find enough votes.

For now, the biggest question is whether Republicans and Democrats are willing to reopen the ethics negotiations.

Without a compromise on divestment and enforcement, CLARITY still does not have the 60 Senate votes it needs to move forward.

Disclaimer

BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

San Francisco-based company Ripple has taken part in a $10 million funding extension for stablecoin-focused payments platform Velocity. 

The funding round, which has now been expanded to an impressive $48 million, has allowed the London-based company to reach a valuation of $200 million. 

It is worth noting that the company behind the XRP cryptocurrency was already an investor in Velocity before the latest expansion took place. 

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The aforementioned round was also backed by such investors as Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, and Wintermute Ventures. 

Velocity is working on increasing the efficiency of payment settlements by connecting traditional financial infrastructure with stablecoin rails. 

With the help of the company's platform, stablecoins can serve as an always-on layer for settlements. 

The startup, which was founded in 2025, specifically targets merchants, financial institutions, fintech companies, and payment providers. 

Visa push Earlier this month, Velocity and MVB Financial announced that MVB would participate in a Visa Direct pilot. 

Velocity's tech makes it possible to plug stablecoin-based liquidity directly into MVB's infrastructure. 

Ripple's stablecoin involvement 

Ripple became a major player within the stablecoin sector after issuing its own RLUSD stablecoin. 

According to data provided by CoinGecko, Ripple's RLUSD currently has a market cap of roughly $2.4 billion, which makes it the 42nd biggest cryptocurrency by market capitalization. 

In August 2025, Ripple agreed to acquire stablecoin payments company Rail for $200 million. 

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.

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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.