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BNY adds XRP and RLUSD to its institutional Digital Asset Custody platform.
Ripple and BNY plan to explore tokenized trade receivables on the XRP Ledger.
C2FO plans to use RLUSD for faster supplier invoice settlement.
Institutional clients could gain direct RLUSD creation and redemption services through BNY.
Both companies intend to expand support for tokenized financial products and collateral services.

Ripple and BNY have widened their partnership, adding XRP and RLUSD custody while outlining new plans for the XRP Ledger. The companies announced the changes on October 27, alongside proposed work on trade finance and digital payments.

BNY now supports both assets directly through its Digital Asset Custody platform. Eligible institutional customers can hold and transfer XRP and Ripple’s dollar-backed RLUSD stablecoin using the bank’s existing custody controls. The custody offering is aimed at institutions rather than retail users.

BNY Expands Custody for Institutions
The bank already holds reserves backing RLUSD and provides custody services connected to Ripple Prime. The expanded service adds access to the two tokens, rather than replacing those earlier arrangements.

Ripple puts RLUSD’s total market value near $2.5 billion. An October 23 report on falling XRP Ledger stablecoin supply measured tokens held on that network, not RLUSD circulating across different blockchains.

BNY and Ripple also plan to examine how trade receivables can be represented digitally on the XRP Ledger. These are payments owed to suppliers for goods or services already delivered. Tokenization records a claim digitally, while the underlying invoice remains tied to the buyer’s payment obligation.

Their proposed work with working-capital provider C2FO aims to make those assets easier for investors to access. The companies have not announced a launch date or completed transactions under that proposed arrangement.

C2FO Instant Pay Moves Forward
In a separate announcement, Ripple and C2FO outlined C2FO Instant Pay, which would use RLUSD to settle financed invoices on the XRP Ledger. Ripple is also involved in a separate Singapore trade payment initiative using the stablecoin.

Under the planned service, participating funding providers would pay approved invoices early. Suppliers could receive funds within seconds after financing, while the invoice’s original due date would remain unchanged. C2FO is accepting expressions of interest.

Direct RLUSD Access Remains Planned
The expansion follows Ripple’s final U.S. trust bank approval, announced on October 26. The planned bank will work with RLUSD reserves and institutional custody. BNY remains RLUSD’s primary reserve custodian.

BNY also intends to let eligible clients create and redeem RLUSD through the bank and support more tokenized investment products. Neither company gave a timetable for those additions. Ripple President Monica Long said the focus is on putting tokenized assets to work in payments and collateral.

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

The XRP Ledger (XRPL) has experienced a significant resurgence in network activity, with active account counts surging nearly 100% above their recent baseline. The sharp increase signals renewed engagement across the blockchain, even as XRP's price continues to face bearish pressure.

XRP Ledger finds a ground for recoveryAccording to data from XRPScan, the XRP Ledger recorded 30,604 active accounts on October 26, 2026, significantly exceeding its 30-day average of 18,600. The latest reading represents an approximately 65% increase over the monthly average and nearly double the roughly 15,000–16,000 daily active accounts observed during quieter periods in recent months.

Source: XRP Ledger DataThe metric, which tracks unique active senders on the XRP Ledger, also registered a 6% increase over the previous 24 hours, highlighting accelerating participation across the network.

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The one-year activity chart shows that active account counts have generally fluctuated between 13,000 and 20,000 since the beginning of 2026, with occasional spikes above 30,000. Following a relatively subdued period between June and August, network participation began recovering in September before accelerating toward the end of October.

More active accounts on the sceneRising active account counts can indicate growing blockchain usage, increased transaction activity, or renewed participation from existing users. Nevertheless, the metric alone does not establish whether the increase reflects sustained adoption or temporary trading-related activity.

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TradingView's daily XRP/USD chart shows the cryptocurrency trading near $1.29, following a retreat from September and October highs around $1.55–$1.60. XRP currently trades below several key moving averages, suggesting that bearish momentum continues to dominate its short-term price structure.

The cryptocurrency is also consolidating near the $1.30 level, with buyers attempting to stabilize prices following weeks of downward pressure. Meanwhile, the Relative Strength Index (RSI) remains in the lower half of its range, indicating relatively weak buying momentum.

Despite the disconnect between price performance and network participation, the increase in active accounts remains a noteworthy development. Whether this renewed activity eventually supports a price recovery will depend on sustained blockchain usage, broader cryptocurrency market conditions, and XRP's ability to reclaim crucial technical resistance levels.

The US Securities and Exchange Commission (SEC) has pushed back the effective date of a GraniteShares filing covering leveraged XRP ETF. This action has delayed the anticipation of investors for new investment products that will be associated with Ripple’s XRP.

SEC Sets November 30 Deadline For New XRP ETFs The filing comes just days before the November 3 U.S. midterm elections. It has questioned the political uncertainty’s impact on the regulatory timeline. But the document does not contain a connection to the elections.

On October 26, 2026, GraniteShares ETF Trust filed a post-effective amendment with the SEC. The document says its sole intent is to delay the impact of an earlier change to the registration until Nov. 30, 2026.

Several crypto products are covered by the registration. These include the GraniteShares 3x Long XRP Daily ETF and GraniteShares 3x Short XRP Daily ETF. The same filing also includes funds that are leveraged on Bitcoin, Ethereum and Solana.

GraniteShares has pushed the effective date for its 3x Long and 3x Short XRP, Bitcoin, Ether and Solana ETFs to November 30, 2026, per a new SEC filing.

Do you expect these to launch on the new date? pic.twitter.com/g460WoStQ0

— 𝗕𝗮𝗻𝗸XRP (@BankXRP) October 26, 2026

The SEC amendment for these XRP ETFs adopts November 30 as the proposed effective date for Rule 485(b) of the Securities Act of 1933. This is not an explanation for the postponement and doesn’t refer to the US midterm elections.

The Midterm Elections Bring Political Uncertainty The SEC filing comes as Republicans and Democrats battle it out for control of Congress in the Nov. 3 U.S. midterm elections. Republicans now have a House of Representatives that is 218-214 and a Senate with a 53-47 lead.

The result may have implications for political regulation of cryptocurrencies. The elections will gauge the control of both houses as the Democrats try to gain control of both, and they will be a test of President Donald Trump’s administration.

On October 12, AdImpact reports that over $3.8 billion had been spent on aired political advertisements. The contests are driven by economic worries, among other factors, and by voter sentiment.

However, the SEC’s decision appears to have been independent of the election calendar. Currently, there is no evidence in the GraniteShares’ XRP ETF delay filing that the election played any role.

GraniteShares ETF Trust President William Rhind signed the amendment on October 26. Investors will have to now wait and see if the registration gets the green light on the new effective date.

Aviva Investors, a major UK asset manager with £22 billion ($29 billion) in its flagship Sterling Liquidity Fund, has introduced a tokenized share class for this fund using Ripple’s decentralized XRP Ledger (XRPL) blockchain. This move marks an early step into blockchain-based finance for the traditionally conservative institutional sector in London.

Modest Pilot, Major PrecedentThe current on-chain share class received an initial allocation of £50 million ($66 million). Including a dollar-denominated pilot in July, Aviva’s total digital asset holdings via tokenization in Europe now surpass £86 million ($116 million). These figures represent only about 0.4% of the Sterling Liquidity Fund’s overall assets, underlining a cautious approach rather than wholesale migration to blockchain infrastructure.

Aviva Investors CEO Mark Versey highlighted that the company’s push into Web3 aims to streamline operations. He expressed confidence that tokenization can optimize procedures and, in his words, “lead to improved client outcomes.”

By launching this small fraction of its fund on XRPL, Aviva Investors sets a precedent for large-scale institutional participation in blockchain networks, opening XRP-based infrastructure to market participants managing tens of billions in assets.

“Digital Twin” Structure Preserves Traditional ControlsRather than overhaul the fund’s existing legal or operational framework, Aviva utilized a “Digital Twin” model. The newly tokenized tranche mirrors the established fund structure, which has functioned consistently since 2002. The blockchain acts primarily to register ownership rights with speed and cost efficiency, while underlying assets and regulatory safeguards remain in traditional custody.

Physical assets remain securely managed by BNY Mellon in the US. Komainu, a digital asset custodian regulated in multiple jurisdictions, ensures wallet security. Licuido, a platform specializing in digital asset tokenization, handles the technical aspects of converting fund shares into blockchain-based tokens.

Mini dictionary: Komainu is a custodian focused on safeguarding digital assets and operates under strict regulatory oversight. Licuido is a fintech platform that facilitates the tokenization and management of digitized assets for institutions.

Institutional Entry, Not for RetailParticipation in the tokenized share class is limited strictly to institutional investors who have completed comprehensive Know Your Customer (KYC) checks. Retail investors do not have access to this offering.

Aviva’s initiative comes amid broader efforts within traditional finance to create 24/7 settlement rails and move beyond legacy banking infrastructure.

Institutions are choosing XRPL to carry out fully regulated asset management operations. This development demonstrates how professional fund managers are abiding by compliance requirements while gradually bringing significant liquidity to the network.

For the XRP Ledger and Ripple, the collaboration with Aviva Investors represents a tangible milestone in attracting regulated institutional capital. While current allocations remain limited, the structure and compliance foundation could enable larger portions of Aviva’s $29 billion fund to move on-chain in the future.

Fund SizeTotal TokenizedTokenized Share (%)$29 billion$116 million0.4%

Cover image via U.Today

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

XRP fell to a low of $1.29 at press time, extending a drop from Sunday's session; its price now awaits the next move, down 0.24% in the last 24 hours.

XRP price retreated from October 21's $1.39 high, dropping to a low of $1.253 on October 24 before rebounding and settling into a range. As XRP awaits a significant move, an onchain metric is putting whale activity into the spotlight.

According to CoinGlass data, XRP spot flows fell 6,319.62% within a 12-hour timeframe, with spot outflows surpassing inflows. Spot inflows were reported to be $53.85 million while outflows were $54.67 million, resulting in a drop of 6,319.62% in the said timeframe.

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Spot flows track the movement of assets into and out of trading platforms, offering clues about buying and selling behavior. Negative net flows could be a sign of more XRP exiting exchanges than entering them, a positive sign that could indicate accumulation. If this is the case, it might suggest that whales find the current XRP prices attractive to buy. Large holders or whales often accumulate during periods of decline or consolidation with the intent of buying at a discount.

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$1.40 is the first level to watch, which coincides with the daily MA 50 and has limited XRP's upside movement since October 8. A sustained move above it would mean a quick return to $1.50 is more than plausible.

XRP remains trapped between its 50 and 200 moving averages on the daily chart. Bears have attempted to push XRP price below $1.25, but bulls stood their ground, returning the price above the daily MA 200 at $1.278, which is highlighted as short-term support for XRP price.

Expectations rise for Swell eventThe Swell event, which takes place this week, may be a potential catalyst for XRP price.

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For the first time in the event's history, Ripple is combining Swell with Apex—its summit for developers, institutions, and investors building on the XRP Ledger—and UBRI Connect, the academic conference for Ripple's University Blockchain Research Initiative.

Swell has historically been where Ripple makes its most significant product and partnership announcements.

In big news, Aviva Investors, the global asset management business of Aviva, and Ripple have announced the launch of a new tokenized share class of the Aviva Investors Sterling (GBP) Liquidity Fund—the firm's largest fund with approximately £22 billion in assets under management. 

Ripple (XRP) price faces a potential surge in volatility this week ahead of the Federal Reserve’s decision on interest rates on October 28. On-chain data suggests that traders are positioning for this decision after an increase in XRP’s withdrawal transaction share.

XRP value today is down by 0.49% today, October 25, to trade at $1.28 at the time of writing. Trading volumes had also dropped by 12% to $1.44 billion per CoinMarketCap data.

XRP Exchange Withdrawal Transaction Share Hits August Highs
CryptoQuant data shows that XRP’s withdrawal-transaction share has risen to 55.75% on Binance. The same metric has also risen to 54.85% across all centralized exchanges.

At the same time, XRP deposits to exchanges are falling, with the deposit-transaction share falling to 44.25% on Binance and 45.15% on all exchanges.

Source: CryptoQuant
The rising withdrawal transactions come ahead of the October FOMC meeting where 95% of investors expect the Fed to leave the rates at between 3.75% and 4% per data from CoinGape Prediction Markets.

However, while the market has already priced in the fact that the Fed might not hike rates, traders are waiting to see the guidance of the Fed Chair, Kevin Warsh, in regards to inflation and future rate decisions.

Long Positions Surge as Sentiment Shifts
Data from CoinGlass shows a notable increase in the XRP long/short reading. The overall long/short ratio has risen to 1.12 as the number of long accounts outweigh the number of short accounts.

The same reading on Binance and OKX has also risen to 2.98 and 3.64, respectively, which also shows that there are more accounts betting on a price recovery amid reports that Evernorth plans to raise $80M to purchase more XRP.

Source: CoinGlass
The weighted funding rate also remains positive as long buyers pay short sellers to keep their positions open.

Meanwhile, data from SoSoValue shows that inflows to XRP ETFs have returned after the products recorded $4.25 million in inflows in the week between October 19 and October 23, with this being notably higher than the outflows of $1.84 million seen during the previous week.

XRP Price Defends Crucial Support Despite Weak Sentiment
The four-hour chart for XRP price shows a bullish setup as the altcoin defends support at $1.27. XRP has bounced from this support two times, and created a double bottomed pattern.

If the recovery continues, XRP price needs to close above resistance at the neckline of $1.31. Doing that could result in another uptrend towards $1.35.

However, if the uptrend is weak and XRP fails to break the resistance at $1.31, the price might fall back to support at $1.27. Failing to hold this support could push XRP to $1.25.

Source: TradingView
The MACD line that is on the negative side warns that the momentum is leaning bearish despite the recent bounce from the support at $1.27.

Ripple, a leading US-based blockchain technology company and issuer of the digital asset XRP, has called on the US Securities and Exchange Commission (SEC) to revise its approach for determining when cryptocurrency tokens are no longer subject to securities laws. In a recent comment letter, Ripple stated that current regulatory proposals risk introducing greater uncertainty for the crypto sector unless more precise guidelines accompany them.

Regulation Crypto Assets Proposal and Ripple’s ConcernsOn October 20, Ripple responded to the SEC’s Regulation Crypto Assets proposal, expressing general support for the initiative but advocating targeted amendments to Rule 400. This rule seeks to define a process for classifying certain digital assets as no longer investment contracts. Ripple emphasized that tying a token to securities-law obligations indefinitely, just because its issuer once made developmental promises, could stifle the industry’s growth and innovation.

The SEC’s draft rules separate the digital asset itself from the initial investment contract through which it might have been offered. According to the proposal, an issuer could file Form TR when it has completed or ceased the core managerial commitments made to investors. Ripple endorsed this procedure but requested that the SEC also consider other scenarios, such as contracts ending when promises have expired, are abandoned, or otherwise terminate.

This distinction is critical, as legal obligations to investors can lapse even if project developers continue to work on the underlying blockchain network.

Ripple argued that tying securities-law status solely to decentralization tests is less objective than focusing on specific contractual obligations, pointing to its historic disagreement with the SEC over such assessments.

The company’s letter also called for a no-presumption clause to protect issuers who opt not to submit Form TR. Ripple cautioned that regulators might otherwise view the absence of a filing as ongoing evidence that a digital asset remains linked to a securities investment contract.

Ripple urged the SEC to provide more explicit protections for cryptocurrency exchanges, brokers, and dealers. The company proposed that these intermediaries should be able to rely in good faith on Form TR certifications that an asset is no longer a security, without concern that the SEC may later reinterpret the issuer’s filing.

Ripple also suggested amendments to Rule 500, which addresses federal preemption related to certain secondary-market digital asset transactions. As drafted, some provisions could create compliance risks for intermediaries if an issuer falls behind on required regulatory filings, a factor outside the intermediary’s control.

These concerns arise in the context of the SEC’s ongoing efforts to clarify the classification of digital assets, including guidance issued in 2026 that distinguished between crypto tokens and the investment contracts associated with particular transactions.

Ripple’s requests directly reflect insights from its protracted legal dispute with the SEC regarding the status of XRP.

That case, which concluded in 2025 with the dismissal of appeals by both parties, left unresolved issues about how institutional sales and exchange transactions are treated under securities law.

The company’s latest filing seeks to ensure regulatory rules extend to all industry participants rather than applying only to Ripple’s specific circumstances.

Earlier in the year, Ripple also asked the SEC for clarity on the regulatory status of XRP and other major cryptocurrencies.

Meanwhile, similar issues are under legislative review through the CLARITY Act, signaling ongoing Congressional interest in digital asset regulation.

Ripple has previously voiced its support for such statutory exemptions and reiterated that clear guidance is necessary to avoid prolonged regulatory disputes in the future.

Mini dictionary: CLARITY Act, a proposed legislative framework in the US intended to establish clear regulatory standards for digital assets and offer exemptions for certain cryptocurrency activities previously regarded as ambiguous under federal securities law.

A recent discussion around the XRP Ledger’s fee structure prompted David Schwartz, Ripple‘s Chief Technology Officer and a primary architect of the ledger, to clarify how XRP derives its value. His remarks have quickly gained attention within the XRP community.

The origin of the debateThe conversation began when a user on X questioned the rationale behind the XRP Ledger’s approach to burning transaction fees. The user contended that the ledger’s architects intended for XRP to function as a deflationary currency, emphasizing the eventual impact of continuous fee burning over time.

Saul, another community member, responded by challenging this view. He maintained that the primary reason for the fee structure on XRPL is to prevent spam rather than to drive up prices. Saul stated, “You need fees for spam prevention, but they can’t go to validators, so instead they burn the fees. But the key is that they keep them LOW.”

Schwartz entered the discussion by outlining the factors behind XRP’s value accumulation on the ledger. He explained, “Low fees and reliable operation make XRPL a great place to move and hold value. That drives value flow to XRPL. XRP captures some of that value because of its unique advantages over other assets on XRPL.”

Low fees and stable performance bring users to the XRPL network, encouraging capital flows. XRP benefits from this activity due to its position and features as the native asset within the ecosystem.

Schwartz’s comments connect the quality of the XRP Ledger’s infrastructure—namely low fees and operational stability—to its appeal as a medium for value transfer. As more activity takes place on the network, XRP increasingly benefits from its integral role.

Mini dictionary: XRP Ledger (XRPL) is a decentralized blockchain network designed for fast, low-cost digital asset transfers and serves as the foundation for XRP transactions.

The purpose of low feesAccording to Schwartz, the design choice to keep fees low is deliberate. While higher transaction fees could theoretically accelerate the deflationary impact through fee burning, they would also deter users and damage the ledger’s utility. The architects set low fees to ensure accessibility and encourage regular use, with deflation being an incidental outcome rather than the main goal.

This approach highlights that XRP’s underlying value thesis is linked to the ledger’s practical benefits—not merely decreasing token supply. Sustained network activity and cost-effective operations serve as the foundation for utility-driven demand.

The value proposition for XRP centers on utility and network activity, not just scarcity. Maintaining a cost-effective and efficient ledger ensures continued value transfer through XRP.

XRP’s unique position on XRPLSchwartz pointed to XRP’s unique advantages on the ledger. As XRPL’s native asset, XRP serves several purposes, including acting as a bridge asset in cross-currency transactions and being required for transaction fees. This embedded role ensures XRP can capture a significant share of the value moving through the network.

Crypto community member Archie later highlighted Schwartz’s explanation on X, noting that the CTO had summarized the XRP value thesis in just three sentences. Schwartz’s direct involvement as one of the original architects lends additional weight to these comments within the community.

The XRP Ledger (XRPL) is extending its utility well past cryptocurrency trading into institutional settlement and machine-driven commerce. Financial institutions are increasingly turning to the network for cross-currency transfers, while autonomous software agents now handle substantial volumes of automated payments.

Developments involving tokenized investment vehicles, stablecoin safekeeping, and brokerage infrastructure further illustrate how the ecosystem is linking with conventional finance.

XRPL’s design supports atomic cross-currency payments that can complete in a single transaction, converting one asset into another without intermediate steps or external bridges.

Settlement typically occurs in three to five seconds with predictable, low costs, features that suit both traditional cross-border flows and high-frequency machine activity.

XRP can serve as a bridge asset, while Ripple’s RLUSD stablecoin provides a dollar-denominated option for settlement and agent workflows that require price stability.

On the AI side, Ripple’s XRPL AI Starter Kit, introduced earlier in 2026, equips developers with tools to build agentic payment applications.

It integrates with the x402 protocol so autonomous agents can pay for APIs, computing resources, model inference, and other digital services using XRP or RLUSD. Data tracked through the XRPL

AI Hub and related platforms show rapid growth: agent-driven transactions have reached the tens of millions across more than 160 registered merchants, at times accounting for a significant share of overall network activity.

Daily settlement counts have exceeded 600,000 in periods of high machine-to-machine volume.

These flows consist largely of small, frequent payments that conventional banking systems handle less efficiently.

Banks and regulated entities are incorporating XRPL rails for custody and operational use.

Standard Chartered has launched institutional custody for RLUSD issued on the ledger through its Dubai-regulated branch, while exploring collateral arrangements with trading platforms that allow the stablecoin’s value to be mirrored without moving the underlying tokens.

Other banks have integrated or tested RLUSD within core systems for continuous settlement alongside traditional rails such as ACH and wires.

Tokenized fund structures have also advanced; one liquidity fund received regulatory approval for a share class recorded and transferred on XRPL, with traditional custodians holding the underlying assets and specialized providers managing the digital layer.

Brokerage platforms are adopting similar infrastructure.

DriveWealth, which supports investing products for more than 100 partners worldwide, is integrating RLUSD on XRPL for settlement (beginning in Europe, with U.S. expansion planned), cross-border funding, and digital-asset custody.

Clients can fund and manage collateral accounts with stablecoins that convert to cash near-instantly rather than waiting on bank wires.

Discussions also cover equity financing through Ripple’s prime brokerage capabilities.

Separately, partnerships have supported tokenized U.S. Treasury products and atomic settlement pilots connecting XRPL to interbank systems.

Together, these elements—native multi-currency settlement, agentic payment tooling, regulated stablecoin custody, tokenized fund issuance, and brokerage integrations—position XRPL as infrastructure that connects automated digital activity with institutional finance.

The network’s long operational history, protocol-level controls (including escrow, multi-signing, and deposit authorization), and absence of general smart-contract execution risk have been cited as advantages for entities deploying real funds.

As AI systems expand from digital services toward broader commercial tasks and banks continue embedding digital rails, XRPL’s role appears to be broadening from a trading asset network into a settlement layer for both human-initiated and machine-driven value transfer.

Prominent XRP community member XRPcryptowolf has told his followers that Ripple intends to share “the biggest $XRP news of the year” during its upcoming Swell conference in New York City.

Ripple Swell 2026 gathers community and institutionsThis year’s Ripple Swell event will be held from October 27 to 29 at The Shed in Hudson Yards, New York. Organizers have combined Ripple’s Swell institutional summit, the XRPL Apex developer meeting, and the UBRI Connect blockchain research conference into a single, three-day gathering for the first time.

More than 1,500 attendees are expected to take part in over 80 planned sessions, with upwards of 100 featured speakers. The event is set to address every corner of the Ripple and XRP ecosystem, from institutional adoption to research and technical development.

XRPcryptowolf’s statement quickly drew attention across the XRP community, amplifying anticipation for potential major developments at the event.

Ripple will announce the biggest $XRP news of the year at Swell next week, according to XRPcryptowolf, who cited direct communication and growing speculation ahead of the event.

Agenda spotlights institutional adoptionThe program at Swell 2026 reflects Ripple’s growing focus on institutional finance. Key agenda items cover real-world asset tokenization, stablecoin infrastructure suitable for banks, advancements in liquidity and settlement, artificial intelligence-driven payment systems, and updates on post-quantum security for the XRP Ledger.

Ripple CEO Brad Garlinghouse is slated to lead major sessions on the first and second days of the conference. David Schwartz, Ripple’s CTO Emeritus, will discuss future directions for the XRP Ledger.

The exclusive Platinum Summit track targets major financial institutions. Confirmed speakers include representatives from BlackRock and the International Monetary Fund, underlining the elevated level at which Ripple’s conversations with global finance now take place.

XRP ETF developments and market backdropSpot XRP ETFs debuted in late 2025 and have since drawn significant institutional interest. Swell will host dedicated sessions on the first year of these products, with titles such as “The First 365 Days: Lessons from the First Spot XRP ETF,” where panelists will examine custody solutions, liquidity, and regulated access.

The arrival of ETFs has shifted XRP into broader institutional portfolios, and speculation persists regarding BlackRock’s possible entry into the spot XRP ETF market.

As the agenda covers key breakouts and resistance points for XRP, the importance of close market monitoring is apparent. In the meme token sector, rapid surges in attention are not unusual: Fomo App data highlighted how a single trade in “Niu Lai” turned a $99 investment into approximately $370,000. In this fast-moving environment, timing and choice of tokens can be as critical as price action. Fomo App provides a single platform for discovering and trading tokens, alongside social feeds, investor rankings, and trade alerts, allowing users to track meme tokens and investor moves as trends emerge.

Following XRPcryptowolf’s message, responses from the community varied widely. Some users expressed skepticism about the significance of the announcement, with one commenter remarking that past Swell events have sparked pre-conference excitement only for prices to fall afterward.

Another participant described the annual event as a “massive nothing burger.” More cynical voices questioned whether any substantive announcement would materialize, characterizing it as typical hype. Others pointed out that while news coverage often intensifies, price action for XRP remains subdued around Swell conferences.

One community member observed that anticipation typically builds before the conference, but the actual impact on XRP’s price tends to be negligible, with media attention playing a more significant role.

The XRP community now looks to next week’s conference in New York for possible answers and developments as anticipation continues to build.

XRP faces another significant token unlock next week as Ripple prepares for its scheduled November 1 escrow release. The upcoming event could make one billion tokens available, representing a notional value of $1.3 billion based on XRP’s trading price of $1.30 on October 25. This development comes while XRP struggles to rebound above $1.40 after a failed recovery earlier in the week.

Ripple’s scheduled escrow unlockRipple, a US-based payments technology company known for creating the XRP Ledger and issuing XRP, implemented its escrow system in December 2017 to provide transparency and predictability in token distribution. According to the XRP escrow tracker, one billion XRP from two escrow accounts controlled by Ripple is set to become eligible for release at 00:00 UTC on November 1.

Current figures show Ripple maintains approximately 31.4 billion XRP in escrow as of October 25. The company initially locked 55 billion XRP in a series of contracts that gradually expire each month. These programmed releases have become routine, often drawing attention but not always culminating in significant sales to the open market.

XRP’s upcoming escrow unlock involves one billion tokens, but the entire amount is unlikely to be sold or instantly move to exchanges. Historical activity shows the majority of unlocked tokens are typically returned to new escrow contracts.

Ripple’s escrow process distinguishes between the release of tokens and actual market sales. In its October cycle, Ripple unlocked one billion XRP but re-escrowed 700 million, leading to a net reduction of just 300 million XRP in the locked balance. This pattern has been consistent, with on-chain data revealing that Ripple typically returns about 70% of each monthly unlock to new escrows, based on the last 12 months of activity.

At current prices, the historical net reduction of 300 million XRP per month equates to roughly $390 million. However, this figure should not be interpreted as representing guaranteed sales volumes on trading venues.

Technical outlook and market implicationsXRP closed at approximately $1.30 on October 25, down from a high of $1.40 reached on October 21. The token has experienced selling pressure after failing to sustain its brief rally above key technical levels earlier in the week.

Investors have shown increased attention to Ripple’s escrow schedule, particularly as the circulating supply dynamics shift and new supply occasionally enters public exchanges. Market watchers also point to exchange balances, institutional flows, and Ripple’s broader supply commitments as factors influencing price performance.

Technical analysts indicate that a sustained drop below $1.25 could jeopardize XRP’s short-term outlook, putting the psychologically important $1.20 level at risk. On the upside, a decisive move above $1.37 to $1.40 could boost sentiment and potentially open the door to a recovery toward $1.50.

DateXRP PriceEventOctober 21$1.40Recent peak before declineOctober 24$1.30Post-retracement levelOctober 25$1.30Pre-escrow unlockNovember 1N/AUpcoming escrow unlockIt is important to note that Ripple’s escrow releases do not increase the total supply of XRP. The entire initial supply was generated at launch, with escrow mechanisms only influencing the availability of existing tokens.

Mini dictionary: XRP escrow tracker, a tool that monitors Ripple-held escrow accounts and scheduled token releases, providing public transparency on when and how many XRP tokens are eligible for future distribution.

Upcoming Ripple events and broader ecosystemCrypto investors are also keeping an eye on Ripple’s Swell conference, set for October 27 to 29, where topics will include institutional payments, tokenization, and blockchain infrastructure. Key participants include BNY, ICE, TD Securities, and Robinhood, according to Coinpaper’s event preview.

Ripple has expanded into new ventures such as RLUSD, its growing financing division, which exemplifies the company’s efforts to diversify operations beyond XRP price performance.

The XRP Ledger—an open-source blockchain supporting XRP transactions—faces a separate milestone with a planned upgrade scheduled for November 4, conditional on validator approval to implement new technical features.

Ripple’s evolving strategy and scheduled token releases continue to influence market sentiment, but long-term price direction will likely hinge on both technical levels and broader ecosystem developments.

Ripple has unveiled a new partnership aimed at enhancing settlement liquidity for licensed cross-border payment providers using the XRP Ledger (XRPL). The initiative introduces RLUSD-backed liquidity, designed to facilitate short-term financing for payment companies as they await the completion of international fund transfers.

Ripple and Arf collaborate for XRPL paymentsAs part of this arrangement, Ripple has partnered with Arf, a Swiss-regulated financial institution, to bring a settlement liquidity model to the XRPL. By leveraging RLUSD, Arf aims to deliver working capital solutions to licensed payment firms, enabling them to manage the funding gap that often arises during cross-border transfers.

This development addresses a longstanding obstacle faced by global payment businesses: the need to pre-fund transactions or establish complex credit arrangements with traditional banks, often entailing delays and high collateral requirements. Arf’s liquidity model intends to offer payment companies more flexible and timely access to capital, reducing reliance on conventional banking services.

The XRP community quickly responded to the announcement, with observers expressing optimism about the impact on network utility and real-world payment flows.

Ripple has taken a significant step by bringing cross-border payments directly onto the XRP Ledger using RLUSD-powered settlement liquidity, a move many in the XRP community had anticipated.

Arf’s liquidity model and technical integrationArf operates in the payment finance sector—combining traditional financial services such as treasury management and liquidity provision with blockchain-based infrastructure. Since its launch in late 2022, Arf has grown to support approximately $10 billion in annual global settlements, according to the company.

The Arf settlement liquidity model is built around short-term financing that revolves as transactions settle. Instead of relying on static, pre-funded pools, payment companies can access capital that is quickly replenished as transfers are finalized, allowing for ongoing transaction support without prolonged lock-ups of funds.

Integrating this model into the XRPL is expected to establish a consistent source of settlement liquidity tied directly to payment volumes on the ledger. RLUSD will serve as the credit asset for loan disbursements and repayments, while XRP remains central to covering network transaction costs and maintaining required reserves.

Network impact and next steps for XRP LedgerBy assigning RLUSD a concrete role in cross-border payment financing, Ripple’s move extends the stablecoin’s function well beyond simple trading or transfers. This application links RLUSD to real-world financial activity, potentially increasing both transaction volumes and network engagement on XRPL.

Increased settlement and lending operations could drive additional activity on the network, though future demand for XRP will still be influenced by broader adoption rates and how providers implement these services.

Looking ahead, Arf will continue as a design partner while Ripple advances the XRPL’s native lending infrastructure. Plans include transitioning the settlement program to the Single Asset Vault and Lending Protocols (XLS-65 and XLS-66) once those features activate on mainnet. These steps are expected to further streamline and automate capital flows on XRPL.

For XRP holders and payment providers, the partnership offers a tangible link between stablecoin-based liquidity, decentralized ledger operations, and the financing needs of modern cross-border transactions. The upcoming activation of XRPL’s lending infrastructure will mark another milestone in the network’s ability to support evolving financial services.

Given the volatility and speed often seen in the cryptocurrency market—where decisions like a single Fed rate change or abrupt altcoin listings can rapidly shift dynamics—having a consolidated approach to monitoring and managing assets is critical. Many proactive investors are now turning to privacy-centered solutions like CryptoAppsy, which streamlines access to real-time charts, price alerts, focused news, and macroeconomic indicators, all on a single platform with no account required.

The introduction of RLUSD-backed liquidity for cross-border settlements on the XRP Ledger represents an important real-world use case for both the asset and the underlying blockchain infrastructure.

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.

XRP has formed a death cross on the daily chart. The 50-day average has slipped below the 200-day average near $1.37, a pattern investors often read as a sign of weak momentum. XRP trades at $1.30, well beneath both lines, and the price remains under pressure.

The damage is clear in the numbers. XRP is down approximately 15% over 30 days, 29% since the start of the year, and 48% over the last year. The last bounce failed near $1.40, where several moving averages now sit close together and act as a wall. The 100-day average near $1.33 has also become resistance.

XRP Key Levels and DerivativesVolume tells a similar story. Trading activity has dropped sharply since the big surge in August, which means buyers are not showing strong interest right now. The RSI sits near 40, so XRP is weak but not yet oversold, and there is room to fall before a bounce becomes likely.

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XRP/USDT Chart by TradingViewThe first support is $1.25, the latest low where buyers stepped in twice. A daily close below it would open the way to $1.20 and then $1.15. If selling gets heavier, the next big area is $1.00, the round level that held the price in August.

Key level to captureOn the upside, XRP needs to reclaim $1.33 first. Above that, $1.37 to $1.40 is the key zone. A clean close above it would weaken the death cross signal and could send the price toward $1.50, then $1.65, the October high.

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Derivatives data are mixed. Long-to-short ratios on Binance and OKX are above 3, which means most accounts are betting on a rise. That can be risky in a downtrend, because crowded longs often get flushed out.

In the past 24 hours, longs made up most of the $7.25 million in liquidations. Futures flows also show net outflows over the past 4 to 8 hours.

For now, the trend favors sellers. Bulls need a strong close above $1.40 to change that. Until then, $1.25 is the level to watch.

US spot Ripple [XRP] ETFs showed signs of renewed investor interest last week. For 13 weeks, the flows were positive until a week ago when investors withdrew $1.84 million. However, for the first time since then, they added $4.25 million last week.

The fact that there was money flowing back into the funds. This is despite Bitcoin [BTC], Ethereum [ETH], and Solana [SOL] ETFs recorded net outflows. This is interesting because it seems to indicate that some investors were willing to buy again after their brief pause.

Source: SoSoValue The XRP ETF net asset value currently stands at nearly $1.5 billion, indicating a strong foundation of investors who invest in XRP. However, the most recent additions remain modest relative to that total.

All together, continued weekly inflows would strengthen evidence of renewed institutional demand. 

XRP faces $1.40 resistance XRP still finds itself in a long-term downward trending channel and is continuing to build upon those prior down trends by creating lower highs. Although buyers rallied a relief rally off the low at $1.2532 towards $1.40, where descending trendline resistance triggered another rejection.

A second attempt at $1.40 resulted in failure once again at the same downtrending resistance line. That failure sent prices plummeting back down through $1.35 and $1.32 toward $1.3141. Currently, buyers have been unable to take control.

Source: TradingView The MACD histogram has produced slight positives recently. These positives represent potential short-term momentum improvements. Both lines continue to trade below zero. Any selling activity near support may be mitigated somewhat by recent inflows into ETFs.

In order for XRP to begin challenging its bearish nature, XRP needs to demonstrate greater amounts of inflow into the ETFs and successfully break through resistance at $1.40.

XRP Liquidation Levels to Watch XRP’s recovery toward $1.4 has brought nearby liquidation clusters into focus, potentially shaping its next move. After dipping toward $1.253, the token rebounded, suggesting buyers absorbed selling pressure around lower levels.

However, the heatmap shows concentrated liquidity between $1.32 and $1.34. These clusters could be wiped out if the altcoin pushes its advance towards $1.40.

At the same time, below the current price, there is another cluster near the $1.29–$1.30 zone that could attract price during a pullback.

Source: CoinGlass Nonetheless, breaking through the uppermost liquidity cluster near $1.32 could significantly increase upside volatility toward $1.40. Conversely, a resumption of selling activity could cause prices to fall toward lower liquidity zones and amplify selling pressure.

Final Summary Ripple ETFs attracted $4.25 million in weekly inflows, signaling renewed demand after a $1.84 million outflow.

XRP faces $1.40 resistance, with liquidation clusters at $1.32–$1.34 and $1.25–$1.30 shaping near-term volatility.

An analysis of RLUSD stablecoin transactions on the XRP Ledger revealed that an overwhelming majority of payment activity over a 30-day period originated from just 110 wallets, raising fresh questions about the underlying nature of RLUSD network adoption.

Concentrated Wallet Activity Drives RLUSD Payment SurgeResearch by blockchain analytics firm Bitquery found that between September 19 and October 18, these 110 wallets generated approximately 7.79 million RLUSD payments. This figure accounts for 99.6% of the 7.82 million RLUSD transactions recorded during the period.

Despite the high transaction count, the group of wallets transferred only 7,722 RLUSD in total. On average, each payment equaled just 0.00099 RLUSD, worth about one-tenth of a cent.

Bitquery analysts reported that these wallets repeatedly sent very small RLUSD amounts to three specific recipient addresses, with transactions occurring roughly every 30 seconds. Wallets in the group showed similarities in their funding sources and collection addresses.

Investigators traced some of the cluster’s activities to addresses labeled as Binance wallets, with additional flows passing through a deposit account often used by crypto exchanges. However, Bitquery did not identify any party operating or controlling the wallet cluster, and stated that the data did not confirm involvement by Binance or Ripple.

Researchers calculated that these transactions—including both RLUSD and XRP movements—totaled around 8.6 million, accumulating just 495 XRP in network fees (approximately $648 at the relevant time).

This case highlights how payment counts on public ledgers like XRPL can soar with little increase in actual economic value transferred, making headline transaction volumes a less reliable indicator of network adoption.

Between October 8 and October 14, this cluster was responsible for nearly 45.6% of all XRP Ledger account-to-account payments, regardless of asset. At the peak on September 26, RLUSD activity reached 573,589 payments in a single day, but only 388 of those transferred one RLUSD or more.

Automated activity started to decline on October 14 before effectively stopping by October 16. This drop-off closely aligned with Cross River Bank’s October 15 announcement on RLUSD’s integration into its banking systems. Bitquery indicated that no protocol change or network fee spike explained this decline, leaving the reason for the activity’s end unclear.

This episode brings attention to the distinction between network statistics, such as transaction counts, and the actual economic use of stablecoins on public blockchains.

Large RLUSD Payments Show Institutional ConcentrationWhen excluding payments under one RLUSD, the data shows only 14,600 transactions totaled roughly $7.33 billion during the same 30-day window.

Within these larger transactions, ten wallets accounted for approximately 82% of settlement value. Much of this activity tied to RLUSD minting and redemption by the issuer, highlighting that most value movement involved a handful of institutional-grade wallets rather than broad retail use.

Bitquery noted that this $7.33 billion sum does not reflect unique commercial transactions, since the same funds may be counted more than once in internal transfers or redemption cycles.

As Ripple continues to expand RLUSD services, the firm is increasingly focused on attracting institutional clients and building brokerage settlement solutions—areas where raw transaction volume may not directly measure real economic expansion.

These findings emphasize that wallet concentration and transaction size must be examined together to understand genuine blockchain adoption, particularly as AI-driven payment services and high-frequency automation can obscure real demand.

Analysis of the RLUSD data underscores that while payments require XRP for network fees, a surge in tiny, automated transfers is not necessarily linked to increased XRP demand from investors.

With more sophisticated trading and monitoring strategies now required in fast-moving environments, some traders have begun turning to tools that offer consolidated views of blockchain activity, portfolio tracking, and macro data. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.

As Ripple works on new payment partnerships and seeks independent validation of settlement volumes, verified economic flows may prove more meaningful for investors and analysts than overall activity figures alone.

More than 1,114 XRP were permanently removed from circulation within a single day, according to data from XRPScan, signaling a recent surge in network activity.

XRP burn rate jumps sharplyData showed that 1,114.97 XRP were burned as transaction fees on October 23, representing a 27.5% increase from the previous day’s total of 874.27 XRP. This marked the highest daily burn rate recorded in more than two weeks. The spike comes after a period of subdued activity on the XRP Ledger, with the 30-day average standing at 808.1 XRP burned daily.

DateXRP BurnedOctober 22874.27October 231,114.9730-day Average808.1The current surge in daily burn activity follows the largest spike this month, when more than 8,000 XRP were removed from supply on October 2. Since then, the number of tokens burned each day has continued to fluctuate, influenced by broader trends in network utilization.

Increased network participationThe XRP Ledger, the decentralized infrastructure that facilitates XRP transactions, reduces the total supply by automatically burning a small amount of tokens as a transaction fee with each operation. This process provides not only a check on spam but also makes the asset incrementally more scarce as the network sees higher activity.

Mini dictionary: XRPScan is a third-party blockchain explorer that provides real-time transaction data and analytics for the XRP Ledger, helping users monitor network activity and onchain metrics.

Historically, spikes in the burn rate reflect an uptick in transactions processed on the network. The mechanism not only demonstrates user engagement but can also influence sentiments about XRP’s scarcity in the market.

Network data revealed that a sharp increase in XRP token burns coincided with a noticeable uptick in onchain activity, pushing daily burned amounts well above recent averages.

Market implicationsAlthough XRP’s price has shown mixed movement in recent sessions, analysts often interpret increased burn rates and network activity as constructive signals for the asset’s outlook. While higher burn levels do not directly cause price rises, they contribute to increased scarcity over time, which can positively impact long-term demand.

The XRP Ledger’s use of transaction-based burning continues to offer a transparent method of supply reduction, with daily figures serving as an important real-time indicator of network usage.

Ripple has announced that actor and Water.org co-founder Matt Damon will be a featured speaker at the upcoming Swell 2026 conference in New York. David Schwartz, Ripple’s Chief Technology Officer Emeritus, responded with a humorous remark referencing Damon’s movie roles, suggesting Swell is “finally” a place “he won’t need to be rescued from.” The comment referenced the company’s official statement that Damon will join the stage later this month.

Swell 2026 Unites Institutional, Developer CommunitiesFor the first time, the annual XRP ecosystem event will merge Ripple Swell and the XRPL Apex developer summit. The joint conference will take place at The Shed in Hudson Yards from October 27 to 29, and organizers expect more than 1,500 participants. Over three stages and more than 50 sessions, the event aims to bring institutional leaders and XRPL developers together.

Ripple CEO Brad Garlinghouse, President Monica Long, Chief Technology Officer Emeritus David Schwartz, along with Matt Damon and Water.org CEO Gary White, are among the main speakers. The agenda is structured to explore how faster cross-border settlement can directly benefit microfinance partners, rather than focusing on new product launches.

Matt Damon is set to join Ripple leadership and Water.org’s Gary White at Swell 2026, where the agenda centers on using fast cross-border settlement to scale microfinance partnerships globally.

Water.org’s Expanding Use of Ripple Payments and RLUSDWater.org, established in 2009 by Matt Damon and engineer Gary White, partners with local financial institutions to provide low-cost loans for household water and sanitation projects. To date, the organization has mobilized about $7.7 billion, positively impacting nearly 88 million people across Asia, Africa, and Latin America.

Earlier this year, Ripple became the exclusive digital-asset and payments partner for Water.org’s Get Blue campaign, which was introduced at the World Economic Forum in Davos. The campaign seeks to increase access to safe water for 200 million people by 2030. Founding corporate supporters include Amazon, Ecolab, Gap, and Starbucks.

Water.org now routes donations and operational funds through Ripple Payments, using both XRP and Ripple’s dollar-pegged RLUSD stablecoin. This setup reportedly allows seed funding to reach microfinance institutions within minutes, rather than several days, by bypassing traditional banking corridors.

The organization maintains that the integration of Ripple infrastructure has helped shorten transfer times and reduce costs, allowing partner lenders to more quickly deliver small loans for essential water and sanitation systems.

Mini dictionary: RLUSD — A stablecoin issued by Ripple, pegged to the US dollar and designed for use within Ripple’s payments infrastructure to facilitate faster and lower-cost global transactions.

FeatureBefore Ripple PaymentsWith Ripple & RLUSDSeed fund transfer timeSeveral daysMinutesCurrencyFiat onlyXRP, RLUSDCostHigherLowerGlobal Development and Expanded Use CasesA significant portion of the global population, estimated at over two billion people, still lacks access to safe water. Water.org’s campaign aims to address this need, with hopes that efficient payment technologies can increase the volume and speed of capital reaching local microfinance partners.

Swell 2026’s expanded agenda also covers digital asset tokenization, broader institutional adoption, and technical developments within the XRP ecosystem. Organizers expect high-profile speakers and live operational use cases to draw attention to both Ripple and Water.org’s efforts.

Swell 2026 brings together institutional players, developers, and leading nonprofits to explore the potential of digital assets for financial inclusion and cross-border impact.

State Street, one of the world’s leading custodial banks with trillions of dollars in assets under management, is developing a multi-chain tokenization infrastructure. Recent documentation confirms the bank’s involvement with three major blockchain networks: XRP Ledger, Stellar’s XLM, and Hedera’s HBAR.

State Street’s blockchain architectureCrypto researcher SMQKE published documentation linking State Street to core developments on the XRP Ledger, Stellar network, and the Hedera blockchain. This material includes a tokenized money market fund issuer table and a Boston Consulting Group (BCG) slide from October 2021 that highlights State Street’s partnership with Securrency, a prominent tokenization platform.

The table provides details on the use of these blockchains in the creation and management of money market funds. According to the BCG slide, Securrency’s platform infrastructure is closely tied to both the XRP and Stellar networks, establishing a direct technological link between State Street and these digital asset ecosystems.

State Street is directly partnered with Securrency, which uses both XRP and XLM. Hedera is also one of the blockchain options for State Street to utilize for its tokenized money market funds. XRP, XLM, and HBAR have all been documented as part of State Street’s evolving digital asset strategy.

Partnership with SecurrencySecurrency, based in Washington, D.C., has raised $49.4 million in funding and offers tokenization services on Ethereum, Stellar, Ripple, Gochain, and EOS networks. The partnership with State Street is noted within the BCG analysis, emphasizing the bank’s integration with next-generation tokenization infrastructure.

Securrency’s system enables tokenized products to be issued and managed across multiple chains, including both XRP and Stellar. This alignment gives State Street direct access to key blockchain networks for its digital asset strategies.

Hedera and fund tokenization in EuropeThe documentation identifies State Street Global Advisors Europe Limited as the issuer of seven tokenized liquidity funds utilizing Hedera as the blockchain and Archax as the transfer agent. These funds are domiciled in Ireland, reflecting State Street’s commitment to implementing tokenization solutions across its European services.

BlackRock Asset Management Ireland Ltd is also listed in the documentation, managing six tokenized liquidity funds on Hedera via Archax. Both State Street and BlackRock are leveraging HBAR for institutional fund tokenization, further strengthening Hedera’s position in this growing sector.

This multi-network approach allows State Street to diversify its blockchain exposure—using XRP Ledger and Stellar via Securrency, and Hedera with its tokenized fund products based in Ireland.

Role of Archax and emerging tokenization trendsArchax, a UK-based digital asset exchange and custodian, acts as the transfer agent for both State Street and BlackRock’s Hedera-based funds. This positions Archax as a central operator in Europe’s institutional tokenized fund infrastructure.

The documentation underlines a trend among top asset managers: the implementation of tokenization infrastructure is advancing, with major institutions selecting networks, engaging custodians, and launching tokenized products.

Technical monitoring remains a core requirement amid these developments. In the meme token market, an internet trend can transform into millions of dollars of interest within days. According to data from Fomo App, a trade involving “Niu Lai” converted a $99 investment into roughly $370,000, highlighting the dynamics of rapid investor interest. Monitoring not just prices but also timing and investor decisions is especially critical here. Fomo App combines token discovery and trading, adding social feeds, investor rankings, and trade notifications in a single environment, making it notable for those tracking meme token trends and investor activity.

State Street’s deployment across XRP Ledger, Stellar, and Hedera demonstrates a broad strategy, with each blockchain network serving distinct roles in its expanding tokenization agenda. The involvement of players like Archax and Securrency accelerates the adoption and sophistication of institutional tokenized products.

Jack Pouderoyen, Head of Digital Asset Strategy at SWIFT, shared insights on the evolution of the global financial system in a recent discussion with Finextra Research. He emphasized a shift towards 24/7 cross-border payments, programmable forms of digital cash, atomic settlement, and tokenized securities as core objectives for the industry.

SWIFT’s digital asset ecosystem and industry goalsSWIFT, the renowned global financial messaging network, is piloting a new ledger initiative that currently involves 17 banks across six continents, with over 40 institutions contributing to its development. Transactions on the platform span major currencies, including the US dollar, euro, British pound, Hong Kong dollar, and Singapore dollar.

Pouderoyen detailed the industry’s focus on enabling banks to efficiently move liquidity worldwide at any hour, particularly through tokenized deposit functionality. He noted a rising demand for a digital cash leg suitable for continuous, programmable settlement, which would streamline not only securities transactions but also payment versus payment (PvP) for FX deals.

Pouderoyen identified 24/7 payment capability as a critical component for banks looking to manage international liquidity and settlement outside of traditional operating hours. He underlined the importance of programmable money in unlocking atomic settlement efficiencies across both securities and foreign exchange arenas.

Ripple’s infrastructure and market parallelsCommentator X Finance Bull highlighted that Ripple’s XRP-centric infrastructure closely mirrors the developments outlined by SWIFT. Ripple, a San Francisco-based fintech company specializing in blockchain-based global payments, has implemented atomic settlement processes utilizing RLUSD for digital cash transactions. Recent collaborations involving Ondo, Kinexys (a J.P. Morgan solution), Mastercard, and Ripple resulted in a tokenized US Treasury redemption settled on the XRP Ledger (XRPL) in under five seconds.

A broad array of institutions—including Standard Chartered, DBS, Franklin Templeton, BNY, Aviva Investors, DriveWealth, CSD BR, BTG Pactual, and Meritz Securities—are actively developing tools around RLUSD, tokenized funds, and new digital settlement models.

Mini dictionary: RLUSD – A Ripple-issued stablecoin designed for fast, secure, and programmable digital transactions, often serving as a settlement asset on the XRP Ledger and in atomic settlement processes.

The FX dimension and XRP’s roleX Finance Bull pointed out that foreign exchange (FX) settlement is a pivotal opportunity. With global FX turnover estimated at $9.6 trillion daily and total gross settlement obligations exceeding $14 trillion per day, the demand for instant settlement solutions is significant. XRP’s architecture supports native cross-currency transactions and features auto-bridging, attributes that align with SWIFT’s described roadmap for digital settlement.

FeatureSWIFT (New Ledger)Ripple (XRP/RLUSD)24/7 cross-border paymentsIn piloting phase with banksOperationalProgrammable digital cashUnder developmentImplemented with RLUSDAtomic settlementHighlighted as targetLive on XRPLFX auto-bridgingDescribed as goalNative to XRPIndustry observations and future outlookPouderoyen’s interview did not reference XRP directly, but analysts like X Finance Bull see a notable overlap in technological objectives. He noted that Ripple’s long-standing efforts to position XRP for this type of financial world now reflect the priorities discussed by SWIFT.

X Finance Bull wrote, “They are describing the exact financial world Ripple has been preparing $XRP for, and I think that is massive.”

While the commentary does not amount to an official partnership or endorsement, it underscores a growing convergence in approach between traditional banking infrastructure and blockchain-based financial solutions. SWIFT and Ripple appear to be moving in parallel toward 24/7, programmable, and atomic settlement capabilities, even if their paths have not formally crossed.

The Office of the Comptroller of the Currency (OCC), a leading US federal banking regulator, finalized its rules implementing the GENIUS Act on October 21. This move marks the OCC as the first regulator to officially complete the framework for stablecoins since Congress passed the GENIUS Act in July 2025.

SMQKE highlights XRP benefitsCryptocurrency researcher SMQKE responded promptly to the OCC’s announcement, suggesting that the regulatory clarity provided by the GENIUS Act could deliver notable advantages for XRP. He openly stated that the new legislation will have positive implications for XRP’s role in digital assets and payments.

SMQKE referenced supporting research that examines Ripple’s RLUSD, a USD-backed stablecoin built on the XRP Ledger. RLUSD transactions incur a small fee denominated in XRP, which is permanently burned. The research asserts that consistent burning of XRP during transactions could drive upward price momentum by reducing the token’s overall supply.

As RLUSD adoption expands in cross-border payments and remittances, XRP could become a crucial bridge currency for providing liquidity, according to research highlighted by SMQKE.

The supporting documentation also implies that a well-defined, regulated framework provided by the GENIUS Act strengthens the credibility of RLUSD among financial institutions, further increasing overall adoption.

Mini dictionary: The Office of the Comptroller of the Currency (OCC) is an independent bureau within the US Department of the Treasury responsible for chartering, regulating, and supervising all national banks and federal savings associations in the United States.

Institutional adoption and regulatory clarityThe research connects RLUSD’s growth potential to its compliance with strict reserve and audit requirements set by the GENIUS Act. Meeting these requirements could enhance RLUSD’s reputation among banks and payment providers, laying the groundwork for further adoption. Increased adoption would lead to more RLUSD transactions, increasing the frequency of associated XRP burns.

Though XRP is not a stablecoin, the GENIUS Act’s guidance regarding digital asset classification may also influence XRP’s regulatory status. The research points out that the Act could help XRP gain recognition as a utility token rather than a security, an issue that has played a central role in Ripple’s lengthy legal dispute with the US Securities and Exchange Commission (SEC).

By offering regulatory clarity for stablecoin issuers, the GENIUS Act may also lower entry barriers for financial institutions considering stablecoin solutions. This environment could support joint adoption of both RLUSD and XRP in digital payment networks.

TokenTypeBurn MechanismRegulatory ImpactXRPUtility tokenFee burned per transactionPotential reclassification as utilityRLUSDStablecoin (USD-backed)Generates XRP burnsStronger institutional trust post-GENIUS ActSMQKE’s analysis drew notable attention within the XRP community. By labeling his work “Documented,” the researcher indicated a high degree of confidence in the supporting evidence. Community members emphasized the analysis as a foundation for renewed optimism about XRP’s future use cases.

The GENIUS Act gives Ripple and RLUSD a clear regulatory foundation, which could extend positive effects to XRP as well.

Ripple, the US-based technology company behind XRP, finds itself with improved regulatory clarity for its stablecoin product as a result of the OCC’s latest move. SMQKE argued that this environment creates a ripple effect, potentially benefiting broader digital asset adoption and XRP’s practical function in financial markets.

David Schwartz, Ripple's CTO emeritus and one of the original architects of the XRP Ledger (XRPL), has argued that the network's growing adoption could eventually translate into stronger demand and higher prices for its native cryptocurrency, XRP.

In a recent discussion on X, the prominent blockchain developer expressed skepticism about the possibility of the XRP Ledger becoming a major financial infrastructure platform without its native token benefiting from that success.

"I think a world where XRPL is highly successful in financial applications but XRP does not have high demand and value is very unlikely," Schwartz wrote.

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According to Schwartz, XRP possesses several unique advantages within the network that could help drive its long-term demand.

For starters, XRP is the only native, counterparty-free asset on the XRP Ledger, meaning that it does not depend on any third-party issuer.

Moreover, XRP is required to pay transaction fees and maintain account reserves on the network.

"All of those things can help drive value and demand," Schwartz explained.

His comments address a persistent debate within the XRP community about whether the growing adoption of the XRP Ledger necessarily translates into increased demand for XRP itself.

XRP could thrive even if Bitcoin dominatesSchwartz also outlined a hypothetical scenario in which Bitcoin becomes the dominant settlement asset, arguing that XRP could still benefit from the XRP Ledger's success.

"About the only way that could happen would be if we wound up in a world with one totally dominant settlement asset. That seems unlikely to me," he wrote, referring to a scenario in which XRPL succeeds without generating substantial demand for XRP.

He went on to explain that even widespread Bitcoin adoption would not necessarily eliminate XRP's role in facilitating transactions.

"For example, even if you imagine a world where nearly all settlement is done using bitcoin, if XRPL is successful, you will still probably have several versions of wrapped/bridged bitcoin on XRPL and XRP will capture value bridging them."

Payment activity on the XRP Ledger has surged, with recent statistics from XRPScan showing payment volume reached 770.6 million XRP in the latest 24-hour period. This marks a 119.6% increase compared to the previous day. The figure is significantly above the 30-day average of 601.9 million XRP, indicating a sudden return of network activity after a period of stagnation. Despite this notable spike, the all-time high for daily payment volume remains much higher at 7 billion XRP, suggesting that current levels, while robust, are still far from record territory.

Network activity rebounds after slow periodA review of the past year reveals that XRP payment volumes have been highly volatile, with notable peaks approaching 2.6 billion XRP both in November and February. Outside of these bursts, daily volumes typically fluctuate between 300 million and 700 million XRP. On quieter days, network activity can even drop close to zero. The latest jump follows directly after one such period of low network engagement.

It is worth noting that much of this 119.6% increase comes off a very low baseline, limiting its immediate impact as a long-term trend signal. Nevertheless, analysts point out that any uptick in genuine payment activity is a positive sign for the health of the network, as it reflects increased settlement and usage by participants. This stands in contrast to exchange trading volumes, which can be influenced by speculative activity.

Payment volume shows how much XRP is actually moving between accounts, so it is a cleaner signal than exchange trading alone. When this figure rises, more people are sending, settling, and using the network.

After several weeks of diminished activity, this resurgence in payments marks a potential turning point for user engagement, provided it can be sustained over the coming days.

Mini dictionary: XRP Ledger – a decentralized, public blockchain designed for payments, allowing users to send value quickly and at low cost. The ledger validates and tracks transactions using the XRP token as its native asset.

Price remains below major resistanceDespite the uptick in network usage, XRP’s market price has not shown a corresponding rally. The digital asset is now trading close to $1.31, remaining below key technical levels. The 200-day moving average sits near $1.37, while the 100-day average is close to $1.34, both now acting as resistance zones. Earlier attempts to push above these areas were met with selling pressure, and the price has retreated toward a range of $1.27 to $1.30.

Technical momentum remains weak, with the Relative Strength Index (RSI) hovering around 40. While not yet in oversold territory, this reading points to limited buying enthusiasm.

IndicatorCurrent ValueSupport/ResistanceCurrent Price$1.31—200-day Moving Average$1.37Resistance100-day Moving Average$1.34ResistanceNearest Support$1.25SupportNext Key Support$1.15SupportRSI40Neutral/WeakShould the price break below $1.25, analysts point to $1.15—where the August rally previously began—as the next important support zone. On the contrary, a daily close above $1.37 would open the door for further gains, with upside targets at $1.45 and $1.55.

Traders wait for confirmationTrading volume for XRP on exchanges has declined, signaling a cautious stance among market participants. Many investors appear to be waiting for confirmation that the surge in payment activity is translating to sustainable buying interest and higher prices.

A real recovery needs both better network use and stronger buying on the exchanges. So far, only the first part has appeared.

Market observers highlight that such divergence between technical adoption and price action is not uncommon, especially when the financial market is searching for direction. If payment volumes remain steadily above the 30-day average of 601.9 million XRP in the coming days, the chances of a price breakout above $1.37 could increase. However, if this latest spike proves short-lived, XRP is expected to remain within its current trading range.

TLDR

Table of Contents

Malaysia and Thailand join Singapore’s BLOOM initiative as policymaker members.

The initiative focuses on cross-border payments using stablecoins and tokenized bank deposits.

Ripple, Visa, Mastercard and the World Bank Group are among the participating organizations.

Ripple and Unloq plan to test automated trade payments using RLUSD on the XRP Ledger.

Central banks will examine payment settlement, network compatibility, identity checks and regulatory controls.

Singapore has expanded its BLOOM payments initiative as Malaysia and Thailand join efforts to test cross-border transfers. The work covers regulated stablecoins and tokenized bank deposits.

Singapore Adds Two Central Banks to BLOOM
The Monetary Authority of Singapore confirmed the membership of Bank Negara Malaysia and the Bank of Thailand on Friday. Both joined as policymaker members rather than commercial payment providers.

BLOOM stands for Borderless, Liquid, Open, Online, Multi-currency. Singapore started the project in October 2025 to bring regulators, banks and technology firms together around digital money settlement.

Ripple and Payment Networks Join the Work
Current participants include Ripple, Visa, Mastercard, Airwallex, Maybank and the World Bank Group. Circle, Coinbase, JPMorgan, Standard Chartered and Stripe were already involved in the initiative.

Ripple announced a trial with trade finance company Unloq in March. The partners plan to use RLUSD on the XRP Ledger and release payments when shipment conditions are met. Separately, Cross River Bank is adding Ripple’s RLUSD to its payment system.

The World Bank Group brings experience in international payment systems and financial inclusion. BLOOM participants are examining business payments, company cash management and trade finance.

Banks Examine Settlement and Safety Checks
The central banks will examine how institutions accept and exchange different digital currencies across countries. They will study ways for payment systems to communicate without requiring separate deals in every market.

Tokenized deposits form another part of the work. These tokens represent bank deposits rather than stablecoins issued by private companies. In a separate development, JPMorgan made its JPM Coin deposit token available on Ethereum this week for approved institutional clients.

BLOOM will examine identity checks, sanctions screening and transaction limits. MAS said common operating arrangements could reduce implementation costs while allowing regulators to apply their own national requirements.

Malaysia and Thailand Outline Their Priorities
Bank Negara Malaysia Deputy Governor Aznan bin Abdul Aziz said payments using different forms of digital money were becoming more practical. He welcomed cooperation between central banks and companies.

Rules remain a separate issue for stablecoin providers. This week, the US banking regulator outlined waiver requirements for existing stablecoin issuers, showing how oversight differs between markets. Bank of Thailand Deputy Governor Daranee Saeju said Singapore’s initiative would support its work on rules for tokenized money.

SRH, a US-based investment adviser with $3 billion in AUM, has reported holding 27,301 shares of Franklin Templeton’s Franklin XRP ETF (XRPZ). 

The firm disclosed the XRP ETF investment, worth about $441K, in a quarterly Form 13F filing with the US Securities and Exchange Commission (SEC).

Notably, institutional investment managers with more than $100 million in assets under management must file these reports every quarter to disclose their long positions in US equities. 

SRH’s investment adds to the expanding number of US financial firms gaining exposure to XRP through regulated exchange-traded products. However, Form 13F filings only show an institution’s holdings at the end of a quarter, so SRH’s current position may be different from the amount it reported.

US wealth manager SRH reveals investment in Franklin XRP ETF The Franklin XRP ETF Franklin Templeton launched the Franklin XRP ETF on NYSE Arca in November 2024. Trading under the ticker XRPZ, the fund operates as a passively managed grantor trust that holds XRP directly and tracks the CME CF XRP-Dollar Reference Rate. 

Importantly, it charges a net expense ratio of 0.19%, which makes it one of the lower-cost regulated XRP investment products available to US investors. Over the past 52 weeks, the fund’s share price has ranged from $10.77 to $26.09.

On Oct. 22, XRPZ recorded $3.5464 million in net inflows in a single day, bringing its cumulative net inflows since launch to $519 million. 

Across all spot XRP ETFs, total net assets stood at $1.488 billion, while cumulative net inflows reached $1.804 billion. During the third quarter of 2026, XRPZ attracted $90.64 million in net inflows.

Wall Street’s Expanding XRP ETF Footprint SRH’s disclosure follows a series of institutional filings showing that more traditional financial firms are investing in XRP ETFs. 

Goldman Sachs reported $86.5 million in XRP ETF holdings as of June 30, 2026, in its SEC Form 13F filing. The investment covered five spot XRP ETFs, including approximately $25.76 million in the Bitwise XRP ETF and $25.41 million in Franklin Templeton’s XRPZ. 

Bloomberg Intelligence’s review of second-quarter 2026 filings ranked Goldman Sachs as the largest institutional holder of spot XRP ETFs, ahead of Jane Street Group and Millennium Management.

Morgan Stanley also reported holdings across several XRP investment products in its latest Form 13F filing. The firm held 6,715 shares of Franklin’s XRP ETF, 255 shares of the REX-Osprey XRP ETF, and 67 shares of the Bitwise XRP ETF. 

AdvisorNet Financial disclosed 12,380 shares of Franklin’s XRP ETF, worth approximately $177,800, in its third-quarter 2026 filing. 

Meanwhile, UMB Private Wealth Management reported an XRPZ position valued at $100,316 as of Sept. 30, 2026. In addition, Vista Finance disclosed 129,958 shares of the Franklin XRP Trust ETF worth approximately $11.45 million.

XRP ETF Market Performance Spot XRP ETFs have continued to perform impressively this year. The products attracted $307.87 million in net inflows during the third quarter of 2026. July accounted for $27.29 million, August brought in $159.18 million, and September added $121.40 million. 

Over the same period, XRP’s price rose by more than 45%, climbing from $1.04 to $1.51. The Bitwise XRP ETF led the market with $177.94 million in third-quarter inflows, bringing its total assets to $618.81 million.

However, the market saw some withdrawals in October. During the week ending Oct. 16, 2026, US spot XRP ETFs recorded approximately $1.84 million in net outflows, ending a 13-week streak of consecutive inflows. 

Despite this setback, cumulative net inflows approached $1.8 billion, while ETF assets remained around $1.47 billion. On October 22, XRPZ helped restore positive momentum by accounting for the entire $3.5464 million in daily inflows.

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XRP is trading at $1.31, down 4.4% over the past 24 hours, after more than six billion tokens moved onto exchanges over the trailing month — the heaviest inflow reading in seven months. CryptoQuant counts 6.05 billion XRP in 30-day exchange inflows, with Binance alone taking in 2.46 billion of it. The immediate question is whether that wave is selling pressure hitting order books, or ordinary market plumbing. Read carefully, the data points somewhere in between.

As of 23:37 UTC on October 22, XRP changed hands at $1.31, down 4.40% over 24 hours, with a market capitalization of $82.38 billion, good for fifth place among crypto assets, per CoinGecko. The 24-hour range ran from a low of $1.30 to a high of $1.37 on about $1.57 billion of volume. Over the past month the token has shed roughly 16% from its September 23 level near $1.57, and it sits about 64% below the all-time high of $3.65 it set in July 2025.

A 6.05 Billion Token Wave, Exchange by Exchange The headline number comes from CryptoQuant’s QuickTake platform, where analyst Arab Chain traced XRP movement onto centralized venues. “There has been a notable surge in XRP inflows to cryptocurrency exchanges, with the total volume reaching approximately 6.05 billion XRP over the last 30 days, the highest level in seven months,” the analysis reads.

The breakdown matters because it shows where the supply is landing. Binance absorbed the largest share at roughly 2.46 billion XRP, about 40.7% of the total. Bybit took in about 580.31 million, OKX 557.13 million, Upbit 544.48 million, Bitget 284.52 million, KuCoin 55.24 million and Gate 29.47 million. In dollar terms, 6.05 billion XRP at $1.31 is just under $7.93 billion in tokens that moved toward venues where they can be sold quickly.

The inflow spike arrives against a steadily declining price. The chart below plots XRP’s daily close over the trailing 30 days: the token has printed lower highs since late September, sliding from $1.57 down to the current $1.31 area.

Why Inflows Don’t Automatically Mean Selling CryptoQuant is explicit that the metric is not a sell signal. “It should be noted that an increase in XRP inflows to exchanges does not necessarily mean that investors are preparing to sell,” the analyst writes, adding that “interpreting this indicator becomes more accurate when compared with XRP’s price action, trading volume, and exchange outflows.”

The distinction is more than semantics. A transfer to an exchange can reflect custody moves, active trading, or wallet reshuffling — not a decision to dump. And the scale, while large in absolute terms, is a modest slice of the float: 6.05 billion tokens equals roughly 9.6% of the 63.1 billion XRP in circulating supply. A market that absorbed nearly a tenth of its circulating supply landing on venues in a single month, and only gave up about 16% from its September high, is not showing the hallmarks of a supply cascade.

The exchange-side picture is also softened by what is happening on the fund side. U.S. spot XRP ETFs were the demand story this autumn, though that streak cooled in recent days: the funds ended a 13-week run of consecutive weekly inflows in mid-October, a shift BlockchainReporter covered when spot XRP ETFs ended their 13-week inflow streak. With both daily ETF flows and price softening, the $1.30 level has become the line in the sand.

The Levels That Matter Now On the technical side, XRP’s immediate floor is the October 22 intraday low of $1.30, which also marks the 24-hour low across major venues. A break below it opens the way toward the October 18-19 lows near $1.29, the weakest prints of the month. On the upside, $1.37 — the October 22 high — is the first resistance, and above that sits the $1.40 round number where XRP has repeatedly failed over the past week.

These levels are drawn from the observed 24-hour and weekly ranges, not from a forecast. A daily close back above $1.37 would be the first sign that the inflow wave has been absorbed; a close below $1.29 would suggest supply is still clearing. Neither outcome is guaranteed by the flow data alone, which is the point CryptoQuant makes when it insists the indicator be read next to price and volume rather than in isolation.

The Wider XRP Picture Away from the order books, two threads frame the next several weeks. The XRP Ledger’s fixCleanup3_4_0 amendment lost the validator support it needed to activate on schedule, pushing the network’s cleanup change later into November and underscoring that the ledger’s own upgrade cadence runs independently of the token’s price. Meanwhile, XRP remains the asset at the center of Ripple’s long-running regulatory fight with the SEC, which continues to shape how institutions weigh the token.

For a longer horizon, the XRP price prediction case rests on a different set of drivers — ETF flows, ledger utility, and the resolution of the SEC dispute — rather than the month-to-month movement of tokens onto exchanges. The inflow print is a snapshot, not a verdict.

Frequently Asked Questions What is XRP’s price today? XRP traded at about $1.31 on October 22, 2026, down 4.40% over 24 hours, with a market capitalization of roughly $82.38 billion, according to CoinGecko.

Why is XRP down today? XRP fell as CryptoQuant reported 6.05 billion XRP in 30-day exchange inflows, a seven-month high, while spot XRP ETF inflows cooled after a 13-week streak ended.

Does the exchange inflow data prove whales are selling? No. CryptoQuant notes that inflows can reflect custody moves, trading, or wallet transfers, and says the metric must be read alongside price action, volume, and outflows.

What are XRP’s support and resistance levels? Immediate support sits near $1.30, the October 22 low, with the October low around $1.29 below it. Resistance starts at $1.37, then the $1.40 level where the token has repeatedly failed.

How much of XRP’s supply is 6.05 billion tokens? 6.05 billion XRP equals roughly 9.6% of the 63.1 billion XRP in circulating supply, worth about $7.93 billion at $1.31 per token.

Data: CoinGecko, Binance, CryptoQuant.

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

AUTHOR

Samuel is a professional cryptocurrency writer specializing in blockchain technology and market analysis. He delivers in-depth insights into emerging trends and developments, producing well-researched, engaging content that makes complex crypto topics accessible to both newcomers and experienced industry professionals. Through his analytical approach and clear writing style, Samuel provides valuable perspectives on the evolving digital asset landscape, establishing himself as a credible and trusted voice in the cryptocurrency industry.