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Banking Giant Backs Ripple: A New Era for RLUSD
Standard Chartered has launched institutional custody services for Ripple’s dollar-backed stablecoin, RLUSD, on the XRP Ledger. According to the bank’s October 12 announcement, eligible institutional clients can now hold their RLUSD through its digital asset custody infrastructure. Standard Chartered is also working with Ripple and LMAX Group to enable the stablecoin’s use as trading collateral.RLUSD collateral integration is in developmentThe bank offers the service through its Dubai International Financial Centre (DIFC) branch. The branch operates under the supervision of the Dubai Financial Services Authority (DFSA).In the next phase of the collaboration, the parties aim to make RLUSD eligible collateral for agreed LMAX products. The planned “collateral mirroring” model would reflect the value of RLUSD held at the bank on the trading platform.This would allow institutions to use their tokens as collateral without transferring them directly to the trading venue. The partners aim to reduce transfer-related operational risks, improve counterparty risk management, and increase capital efficiency.However, the custody service and collateral integration are at different stages. Custody support is now live, while the collateral model remains subject to final documentation, successful testing, internal approvals, and applicable regulatory requirements.Standard Chartered said it would share further details as implementation progresses. The announcement therefore does not mean institutional clients have already begun using RLUSD as collateral for LMAX trades.The LMAX partnership expanded in SeptemberThe new service follows the growing digital asset collaboration between Standard Chartered and LMAX Group. On September 16, the bank announced its appointment as LMAX Group’s digital asset custodian.That agreement covered Standard Chartered’s DIFC branch and its Luxembourg entity. LMAX became the first client to join the bank’s Luxembourg digital asset custody platform following its MiCA authorization in June 2026.In July, the two companies also executed transactions combining banking, credit, and custody capabilities with institutional digital asset trading infrastructure. The September announcement outlined an expansion aimed at serving institutional clients across the Middle East and Europe.At the time, the partners also said they were exploring solutions that would provide access to market liquidity while keeping assets in bank custody. Against this backdrop, the RLUSD announcement marks another stage in their efforts to connect custody with trading collateral.How do RLUSD’s reserves and custody arrangements work?According to Ripple’s technical documentation, RLUSD is backed one-to-one by dollars and eligible cash equivalents. Its reserves can include short-term U.S. Treasury bills, government money market funds, certain overnight reverse repurchase agreements, and bank deposits.The company publishes monthly independent attestation reports covering circulating RLUSD and its backing reserves. Reserve assets are held in segregated accounts, while institutions accessing direct issuance and redemption services undergo identity verification and anti-money laundering checks.Custody of the reserves backing RLUSD is a separate service from custody of the tokens held by clients. On July 9, 2025, Ripple announced that it had selected BNY as the primary custodian of RLUSD’s reserves.That agreement focused on the reserve assets backing the stablecoin. Ripple also said it would use BNY’s transaction banking services to support its operations.Standard Chartered’s latest announcement covers custody of institutional clients’ RLUSD issued on the XRP Ledger. Once the planned LMAX integration is complete, those assets could also serve as trading collateral while remaining in custody.
Bitcoin, Ethereum and Solana ETFs See Outflows as XRP Attracts Inflows
JPMorgan analysts estimate that approximately $50 billion has flowed into digital assets since the start of the year. The bank said recovering ETF demand and growing futures positions supported the outlook for the fourth quarter. However, spot Bitcoin, Ethereum, Solana and XRP ETFs collectively recorded approximately $312 million in net outflows on October 8.In an October 7 report, the analyst team led by Nikolaos Panigirtzoglou calculated that current inflows represented an annualized pace of approximately $66 billion. While that figure rose from $52 billion in May, it remained roughly half of last year’s pace.The annualized figure represents the amount that would accumulate if the current pace of inflows continued for a full year. The $66 billion figure therefore measures something different from the total inflows recorded so far this year.ETF Recovery Accompanied by Daily OutflowsAccording to the report, Strategy’s Bitcoin purchases and funding for crypto startups were the main sources of capital entering the digital asset market during the first half of the year. Meanwhile, withdrawals from crypto ETFs weighed on overall flows.ETFs experienced particularly heavy outflows in May and June. However, flows began recovering in August, pushing the year-to-date total back into positive territory.The picture changes when measured over a longer period. Analysts noted that cumulative ETF flows remained negative when calculated from October 10, 2025, when the crypto market downturn began.The recovery in recent months has therefore yet to fully offset earlier withdrawals. Although ETFs have returned to net inflows for 2026, they have not closed the cumulative shortfall recorded since October 2025.XRP ETFs Bucked the Trend on October 8Daily figures for October 8 showed that ETF demand continued to fluctuate. Spot Bitcoin ETFs recorded $244 million in net outflows, while Ethereum ETFs lost $72.54 million and Solana ETFs saw withdrawals of $3.32 million.XRP spot ETFs, meanwhile, attracted $8.17 million in net inflows. That brought the combined daily net outflow across ETFs tracking the four assets to $311.69 million.Bitcoin funds accounted for the largest withdrawals, followed by Ethereum ETFs. Inflows into XRP funds offset only a small portion of the money leaving funds tracking the other three assets.These daily figures cover a different time frame from JPMorgan’s assessment of the broader recovery. The October 8 flows also occurred after the bank’s October 7 report.Bitcoin and Ethereum Futures Positions ExpandedInstitutional positions in Bitcoin and Ether futures on the Chicago Mercantile Exchange (CME) increased over the past two months. After a slow start to the year, activity strengthened toward the end of the third quarter.According to JPMorgan’s calculations, Bitcoin futures positioning surpassed its previous peak. Ether positions approached the high recorded in October 2025.Capital flows consequently broadened beyond corporate purchases and venture funding, which had provided most of the support during the first half. Analysts linked the growth in ETF flows and futures positions to greater participation from retail and institutional investors.The report also noted that trend-following traders had begun rebuilding long positions in Bitcoin and Ether. Meanwhile, leverage indicators in perpetual futures remained above historical averages despite declining from their previous peaks.JPMorgan Expanded Its Flow CalculationsThe bank combines several investment channels when estimating capital flows into digital assets. Crypto fund inflows and outflows, flows implied by CME futures, and capital raised by crypto startups form the core components of the calculation.Digital asset purchases by publicly listed miners and corporate treasuries also contribute to the total estimate. In its latest report, the analysts expanded the calculation to include purchases by private companies, private mining businesses and government-related entities.The approximately $50 billion estimate therefore extends beyond money entering ETFs. It provides a measure of total capital flowing into the digital asset ecosystem through various channels.Miners Remained Net SellersAccording to JPMorgan, Bitcoin miners recorded approximately $1.8 billion in net sales this year. Publicly listed mining companies accounted for most of the selling.These companies sold newly mined Bitcoin to finance spending on artificial intelligence infrastructure, while some also reduced their existing reserves. The mining sector therefore followed a different pattern from corporate treasuries making purchases.The bank concluded that stronger ETF flows and futures positioning in the third quarter had created positive momentum heading into the fourth quarter. However, the October 8 net outflows showed that daily fund demand remained uneven despite the broader recovery.
Goldman Sachs Invests $86.5 Million in Five XRP ETFs
Goldman Sachs returned to the XRP ETF market after a three-month absence. The Wall Street bank reported positions worth a combined $86.5 million across five funds.According to the bank’s second-quarter Form 13F filing with the US Securities and Exchange Commission, the positions reflect its portfolio as of June 30, 2026. Goldman Sachs had exited all its XRP ETF investments during the first quarter.Goldman Sachs invested in five XRP ETFsGoldman Sachs held its largest XRP ETF position in Bitwise’s fund. The bank reported 2,208,949 shares of the Bitwise XRP ETF.The position was worth $25.76 million at the end of the quarter. Its 2,238,407 shares in Franklin Templeton’s XRPZ fund carried a value of $25.41 million.The bank also invested in XRPC, which Canary Capital manages. Goldman Sachs held 1,759,090 XRPC shares worth $19.49 million as of June 30.Two smaller positions involved funds from 21Shares and Grayscale. The bank held 806,126 shares of the 21Shares XRP ETF. The investment, which trades under the ticker TOXR, was worth $8.21 million.Its Grayscale XRP Trust ETF position consisted of 377,619 shares. The GXRP investment had a quarter-end value of $7.65 million.The five positions were worth a combined $86.506 million. Canary Capital’s XRPC also emerged as a new addition that was absent from Goldman Sachs’ previous XRP ETF portfolio.Goldman Sachs exited all XRP positions in the first quarterGoldman Sachs’ Form 13F filing for March 31 included no XRP-linked ETFs. The bank had fully closed the portfolio it created at the end of 2025.In its amended filing for the fourth quarter of 2025, Goldman Sachs reported $152.2 million across four XRP funds. The portfolio included products from Bitwise, Franklin Templeton, Grayscale and 21Shares.The new investment remained about 43% below its value at the end of 2025. Still, the position’s recovery from zero to $86.5 million within a single quarter showed that the bank had returned to XRP-linked products.The number of shares held in the Bitwise and Franklin funds also rose above their levels at the end of 2025. Goldman Sachs maintained more limited positions in the Grayscale and 21Shares funds.The Form 13F filing does not indicate a direct XRP purchaseGoldman Sachs did not report holding XRP tokens directly. All the disclosed positions consisted of shares in funds trading on US exchanges.Form 13F filings only show long positions held on the final day of a quarter. Under SEC rules, institutions managing at least $100 million in reportable assets must submit these reports.The filings do not reveal purchase dates, investment motives or whether the positions remain open. They also do not separately categorize client accounts, market-making activities and investments made with the bank’s own capital.The disclosure alone therefore does not support the conclusion that Goldman Sachs has made a long-term price forecast for XRP. However, the distribution of the positions across five products shows that the bank has become active in regulated XRP investment vehicles again.XRP traded at around $1.49 on August 24. The current value of Goldman Sachs’ June 30 positions may differ from the amount reported in the Form 13F filing due to subsequent changes in ETF prices.
Ripple Raises $275 Million as XRP Price Moves Higher
Ripple Prime, Ripple’s institutional brokerage arm, raised $275 million through a bond offering. The company will use the proceeds to expand its US operations and strengthen its institutional financial infrastructure.According to the company’s August 18 announcement, Ripple Prime sold senior unsecured notes to institutional investors through a private placement. The company upsized the transaction to $275 million from its original target.Ripple said the offering attracted investors from several major financial markets. However, the company did not disclose the initial target, maturity date or coupon rate.Ripple Prime will use the funds in the USRipple Prime will use the proceeds for working capital and general corporate purposes. The company plans to expand its multi-asset clearing, prime brokerage and financing services in the US.The new capital will also support investments in personnel and technology. Ripple Prime serves institutional investors active in digital assets, foreign exchange, fixed-income securities and derivatives markets.Ripple Prime President Noel Kimmel said the transaction marked the company’s first notes offering. According to Kimmel, the new capital will support the platform’s growth plans and its goal of becoming one of the world’s largest non-bank prime brokers.The notes received a BBB credit ratingCredit rating agency KBRA assigned a BBB rating to Ripple Prime’s notes. This rating places the debt instrument within the investment-grade category.Senior unsecured notes are not backed by specific assets. However, they rank ahead of subordinated debt and company equity if the issuer encounters repayment problems.KBRA’s assessment highlighted Ripple Prime’s expanding balance sheet and its move into profitability in 2025. The agency also viewed financial support from parent company Ripple as an important factor.KBRA said Ripple held nearly $5 billion in cash and more than 40 billion XRP as of the third quarter of 2025. However, the agency identified Ripple’s dependence on digital asset-related revenue as one of the main credit risks.Piper Sandler acted as the lead placement agent for the offering.Borrowing capacity reaches $475 millionIn May, Ripple Prime secured a debt facility of up to $200 million from funds managed by Neuberger Specialty Finance. The company uses the facility to expand client financing and margin capacity.The latest offering brings Ripple Prime’s total borrowing capacity secured within roughly three months to $475 million. The earlier agreement is a credit facility, so it should not be assumed that Ripple Prime has drawn the entire amount.Ripple acquired the platform, previously known as Hidden Road, for $1.25 billion in 2025. It later rebranded the business as Ripple Prime, creating an institutional brokerage arm covering traditional and digital markets.According to Ripple’s May announcement, Ripple Prime’s revenue tripled year over year following the acquisition. The new debt financing gives the company additional resources for its capital-intensive brokerage and client financing operations.XRP price risesThe notes offering does not involve an XRP purchase, token burn or transaction on the XRP Ledger. The financing therefore has no disclosed mechanism that would directly affect the XRP price. Still, XRP traded near $1.04 at the time of writing. The cryptocurrency gained 4% following the announcement.Ripple Prime’s growth could expand Ripple’s institutional financial ecosystem over the long term.
Ripple’s Global License Count Surpasses 75
Ripple has received Crypto-Asset Service Provider, or CASP, authorization from Luxembourg’s financial regulator, the CSSF. With this approval, the company has completed its authorization process under the European Union’s MiCA regulation.Ripple had received preliminary approval in June. The full authorization has now arrived. According to Ripple, the company is now fully MiCA-compliant, and its end-to-end regulated crypto payments product is available to financial institutions, companies, and businesses across the European Economic Area.Cassie Craddock, Ripple’s Managing Director for the United Kingdom and Europe, said the authorization puts the company in a fully compliant and growth-ready position in the post-transition MiCA era. According to Craddock, institutions in Europe want to build digital asset services with regulated partners, and Ripple now has the license needed to meet that demand.License count exceeds 75The new CASP authorization adds to Ripple’s existing EU Electronic Money Institution license. The company’s global license count has now surpassed 75. Ripple also received cryptoasset registration from the FCA in the United Kingdom in January 2026.In recent years, the company has placed regulatory approvals at the center of its growth strategy. Ripple has chosen to obtain separate licenses in each market to scale its cross-border payments infrastructure with banks and financial institutions. This approach differs from some of its competitors, which prefer to serve the entire bloc with a license obtained from a single EU country.The authorization came just days after MiCA’s transition period ended on July 1. The new framework replaces national crypto licensing systems with a single structure and allows authorized exchanges and custody service providers to offer services across the European Economic Area.According to ESMA’s MiCA register update dated July 3, 280 companies have received CASP authorization so far. That figure is significantly lower than the more than 3,000 companies that previously operated under national regimes. Danny Sanders, Chief Commercial Officer at Trezor, confirmed this gap to The Block last week. According to Sanders, many small and medium-sized companies could not complete the application process, or abandoned it from the start, because they were unable to meet MiCA’s capital adequacy and reporting requirements.Ripple has now joined the major crypto companies authorized under MiCA. Kraken, Coinbase, OKX, and Crypto.com are also among these companies.Binance, however, entered the post-transition period without MiCA authorization. The world’s largest crypto exchange withdrew its license application in Greece before the July 1 deadline. The company’s founder, CZ, claimed that although the application was fully compliant and close to approval, the process was interrupted by political pressure.Despite this claim, Binance has not yet announced whether it will apply again in another EU country.
Bitcoin and XRP Show Positive Divergence in Crypto Funds: 5 Funds See Exits
Cryptocurrency-based investment products closed with inflows for the fifth consecutive week, according to CoinShares’ latest weekly fund flow report. However, the picture isn’t as strong as it seems at first glance. The net weekly inflow was $117.8 million, marking the lowest level in the positive streak. The most striking aspect of the week was the sharp shift in fund flows within days. From Monday to Thursday, a total of $619 million flowed out of investment products. A strong single-day inflow of $737 million on Friday turned the week back to positive. According to CoinShares Head of Research James Butterfill, this movement hints at a significant recovery in risk appetite by the end of the week. Total assets under management remained around $155 billion. While this level didn’t show a major change compared to previous weeks, the narrowing of fund participation was noteworthy. While nine different assets saw inflows the previous week, only four assets recorded positive flows in the latest report.Bitcoin was by far the strongest area of the week. Bitcoin investment products saw inflows of $192.1 million. Thus, net inflows into Bitcoin funds since the beginning of the year have reached $4.2 billion. However, this latest figure is significantly below the weekly average of approximately $1 billion seen in the previous three weeks. In other words, while Bitcoin remains at the center of investor interest, there is a noticeable slowdown in the pace of inflows.What about altcoins?In Ethereum, the picture has reversed. There was an outflow of $81.6 million from Ethereum investment products. This outflow ended a strong inflow streak of over $190 million in Ethereum funds for three weeks. In recent weeks, appetite for Ethereum had been showing signs of recovery; therefore, we can say that the outflow indicates a short-term shift in market sentiment.The picture remains mixed in altcoins. There was an inflow of $3 million into XRP funds and $3.6 million into multi-asset products. Short Bitcoin products also stood out with an inflow of $6 million. Therefore, we can conclude that while some investors are maintaining their bullish positions in Bitcoin, others are taking positions against downside risks. There was an outflow of $11.1 million from Solana investment products. Litecoin saw limited outflows of $100,000, and Sui saw limited outflows of $400,000. Chainlink recorded no weekly inflows.Regional and Funder DistributionIn terms of regional distribution, the US led with inflows of $47.5 million. However, this figure was significantly lower than the $1.1 billion inflow from the previous week. The slowdown in the US was consistent with the risk-aversion sentiment seen in the middle of the week. Germany was one of the strong markets of the week with inflows of $43.8 million. Canada recorded inflows of $16 million. Switzerland, Australia, and France were on the positive side with inflows of $5.2 million, $4 million, and $1.1 million respectively. In contrast, Sweden saw outflows of $1.9 million. On the funder side, iShares stood out with weekly inflows of $131 million. ARK 21Shares products saw inflows of $51 million, while Fidelity recorded inflows of $9 million. Grayscale products experienced outflows of $72 million. ProFunds Group also ended up on the negative side with a $21 million outflow.
XRP Commentary and Price Analysis - April 30, 2026
XRP Technical AnalysisOn XRP, price is still moving within a falling wedge, and it has now reached the upper boundary of the formation. This area is important because it has previously acted as a selling zone.For the upside, the 1.40 – 1.41 range is the key level. If price closes above this zone, it would no longer be just a reaction but a confirmed breakout. In that scenario, the first target becomes 1.47 – 1.50, followed by a move toward 1.59.On the downside, the 1.32 – 1.30 range is the level that needs to hold in the short term. If this area is lost, price may pull back into the formation and selling pressure could increase toward the 1.25 – 1.21 range.In short, price is currently at a critical resistance. Without breaking the upper band, upward movement remains limited. If a breakout occurs, momentum accelerates; otherwise, selling pressure continues. Falling Wedge Formation On the Ripple side, the recent development has been the activation of the RLUSD stablecoin across more than 280 trading pairs. This integration with OKX significantly expands its use in both spot and derivatives markets. With this move, the aim is to increase liquidity on the XRP Ledger and attract more users. Additionally, RLUSD being usable as collateral opens a new door for institutional participants. The overall picture shows a more concrete step toward generating real usage and volume within the ecosystem.These analyses do not provide investment advice and focus on support and resistance levels that are considered to offer short- and medium-term trading opportunities depending on market conditions. However, responsibility for execution and risk management lies entirely with the user. In addition, the use of stop loss is strongly recommended.
TON Commentary and Price Analysis - April 29, 2026
TON/USDT Technical AnalysisOn TON, price continues to move within a falling wedge. At the current stage, price has directly touched the upper band. This means we are no longer in a waiting phase but in a decision zone.On the daily chart, the 1.35 – 1.38 range acts as both horizontal resistance and overlaps with the trendline. That’s why a close above this area is important. If price holds above it, the structure would be considered a breakout to the upside.In this scenario, the first target becomes the 1.48 – 1.58 range. Then 1.73 and levels above 1.80 come into play.On the downside, the 1.30 – 1.28 range is the level that needs to hold in the short term. If this area is lost, price may fall back into the formation and a pullback toward the 1.26 – 1.20 range can be seen.In short, price is at a critical resistance.If it holds above → upward movement acceleratesIf rejected → the current bearish structure continues Trending Theme On the TON side, a notable development has been the significant reduction in transaction fees. With the new model, costs have been reduced by approximately 6x and the fee structure has been stabilized. This aims to allow users to maintain the same transaction cost even as network activity increases. Additionally, making some transactions completely free is also part of future plans. This approach shows that TON is directly focused on increasing user count and transaction volume; how much this move will be adopted will be the key factor going forward.These analyses do not provide investment advice and focus on support and resistance levels that are considered to offer short- and medium-term trading opportunities depending on market conditions. However, responsibility for execution and risk management lies entirely with the user. In addition, the use of stop loss is strongly recommended.
Ripple Has Made RLUSD Available for Trading in Over 280 Pairs
Ripple is accelerating its moves in the stablecoin and derivatives sector, expanding the use case of RLUSD through two separate strategic partnerships. The company's collaborations with both the crypto exchange OKX and the institutional-focused platform Bullish aim to transform RLUSD into a broader financial instrument. In the first step, Ripple partnered with OKX, a global crypto exchange, making RLUSD accessible in the spot market with over 280 trading pairs. This development aims to increase the liquidity of the dollar-pegged stablecoin and expand its use to a wider investor base. Launched in December 2024, RLUSD already has a market capitalization exceeding $1.5 billion. Under the partnership, RLUSD is not limited to spot transactions; it also becomes an "institutional-level" asset that can be used as collateral in derivative products. Investors can use RLUSD as collateral to open positions, particularly in products such as perpetual futures. This structure allows investors to trade more flexibly without moving funds between different platforms.According to a statement by Ripple and OKX, RLUSD deposits and withdrawals are processed via the XRP Ledger. The aim is to ensure uninterrupted access to liquidity through direct minting and redemption mechanisms. Jack McDonald, Ripple's senior executive responsible for stablecoins, notes that both crypto-native investors and the institutional sector are showing increasing demand for RLUSD.RLUSD usage in derivatives markets is expandingAnother move by Ripple concerns its services for institutional investors. Expanding its collaboration with Bullish, with whom it has previously worked, the company has integrated RLUSD into Bitcoin options trading. As part of this, Ripple Prime users can directly access Bullish's crypto-settled Bitcoin options markets.With the new integration, RLUSD can be used as collateral in options trading. This allows investors to use their capital more efficiently and manage risk more flexibly. Furthermore, the ability for users to trade through their existing accounts eliminates additional registration or verification processes, increasing transaction speed.The Bullish platform stands out as one of the world's largest Bitcoin options markets in terms of open position size. Therefore, the availability of RLUSD here is seen as a significant step strengthening the stablecoin's position in institutional derivatives markets. Institutional demand is increasingRipple Prime officials point out that the integration between traditional finance and digital asset markets is accelerating. The company's transaction volume exceeding $3 trillion in 2025 reveals the increasing interest of institutional investors in crypto derivatives products.As part of the partnership, it is planned to offer "cross-venue margin," meaning collateral management between different platforms, in the future. Thanks to this system, investors will be able to distribute their collateral more effectively among exchanges and OTC desks.
Ripple Joins Forces with South Korean Bank
One of South Korea’s pioneers in digital banking, K Bank, has entered into a strategic partnership with Ripple to test blockchain-based solutions for cross-border remittances.Under the agreement, K Bank is leveraging Ripple’s global payment network and blockchain infrastructure to assess whether it can achieve tangible improvements in speed, cost efficiency, and transparency in international money transfers. At the center of the project is Ripple’s SaaS-based digital wallet solution, Palisade. Source: @sentosumosaba/X Test process deepens in second phaseThe partnership is not entirely new; the two parties had previously launched a proof of concept (PoC). In the initial phase, transfers were tested through a separate application. During this stage, K Bank used its in-house wallet infrastructure to observe the system’s core functionality. However, as the project progressed, the need for a more scalable and regulation-compliant structure became increasingly clear.Accordingly, the project has moved into its second phase. In this stage, the bank is virtually integrating customer accounts with its internal systems to create a testing environment closer to real-world conditions. At the same time, key metrics such as transaction stability, security, and performance are being analyzed in detail. Another notable development is K Bank’s shift from its proprietary wallet to evaluating Ripple’s Palisade solution.Palisade’s ready-made infrastructure stands out with advanced security layers, hardware security modules, and multi-layered authorization systems. This could significantly reduce the complexity of regulatory obligations such as anti-money laundering (AML), sanctions screening, and key management, which would otherwise arise from building a system from scratch. Additionally, its compliance-ready structure has the potential to shorten time to market.The testing process is not limited to technical infrastructure. K Bank is also experimenting with on-chain transfers alongside partners in the United Arab Emirates and Thailand. In this model, funds move directly عبر blockchain rails, reducing reliance on traditional intermediaries and enabling near-instant settlement.This development is also significant for Ripple’s expansion strategy in Asia. The company recently announced a partnership with South Korean insurance giant Kyobo Life to tokenize government bond settlements. This initiative aims to enable near real-time settlement of government securities while also exploring stablecoin-based payment infrastructure.The rapid evolution of regulatory frameworks across Asia is paving the way for such initiatives. Markets such as South Korea, Japan, Hong Kong, and Singapore are moving quickly to establish clearer rules for crypto assets and stablecoins. This, in turn, is making it increasingly attractive for banks and financial institutions to test blockchain-based solutions.
Ripple is Preparing Its XRP Ledger Against the Quantum Threat
Ripple has unveiled a four-stage roadmap to make its XRP Ledger (XRPL) resilient against quantum computers. The company aims to complete the entire transition by 2028. The plan encompasses a broad process ranging from emergency protocols to a full network update.Is the threat real?The risk of quantum computers to blockchain security has long been a theoretically assessed topic. However, Google's recent announcement has reignited this debate: According to the company, a quantum computer could attack the Bitcoin network with a computing power far below previous estimates. Some analysts point to 2029 as "Q-day," the estimated date when a quantum machine capable of breaking the current cryptographic infrastructure could become operational.In the case of XRPL, the threat is three-layered. When each transaction is signed, the account's public key becomes visible on the chain. A quantum computer could reverse engineer the private key from this public key; that is, it could gain access to the assets in the account. Moreover, accounts whose public keys have been visible on the chain for a long time are at greater risk: The longer the key is visible, the more time a potential attacker is given. There is also an operational dimension: The transition to quantum-resistant systems is not just a technical matter; it is a process that directly affects millions of XRP users and all applications built on XRPL. Four-stage planThe first stage is called "Q-day preparation" and is an emergency protocol. In this stage, which will be activated if the quantum threat occurs earlier than expected, classical public key signatures will no longer be accepted by the network; it will be mandatory to move all funds to quantum-secure accounts. In addition, zero-knowledge proofs will be used to allow account holders to prove ownership without disclosing their keys. This method allows assets to be transferred securely even if the key is compromised; no one will lose their funds.The second stage is already underway and is planned to be completed in the first half of 2026. Ripple's applied cryptography team will identify all quantum vulnerabilities in the network; The team will test post-quantum cryptography algorithms proposed by the US cybersecurity standards agency NIST. However, these algorithms come at a cost: larger keys and signatures consume more system resources. Therefore, the team is evaluating the necessary system changes and balances at this stage. Quantum security research firm Project Eleven is partnering with Ripple in this process, conducting validator-level tests and early prototyping.In the third phase, in the second half of 2026, quantum-resistant signatures will be integrated into the test network along with existing signature methods. Developers will be able to work with the new cryptography without touching the live network. At this stage, Ripple aims not only to change signature methods but also to rethink XRPL's cryptographic foundations on a broader scale: quantum-resistant approaches are also being explored for privacy and secure data processing. These are critical for features such as compliant tokenization and confidential transfers.The fourth and final phase covers the full transition, planned to be completed by 2028. Ripple will prepare a new amendment proposal to be submitted for approval to the XRPL ecosystem and will fully migrate the network to post-quantum cryptography-based signatures.Why now?Bitcoin developers are also conducting similar work, so this is not a concern unique to Ripple. However, Ripple's roadmap is noteworthy: The four phases are designed to include a possible early Q-day scenario, and the transition process is structured to take place with as little disruption as possible. Meanwhile, the XRP price is trading at $1.44.
XRP Funds Sold: High Interest in BTC, ETH, and Other Altcoins
CoinShares regularly publishes reports tracking weekly fund flows into crypto asset investment products. According to the company's latest data, the market recorded its strongest weekly performance since January. Following a third consecutive positive week, the question of whether this is a trend or a temporary recovery is increasingly being discussed.$1.4 billion inflowCrypto asset funds saw $1.4 billion in inflows last week. This marks the third consecutive positive week and the strongest performance since January. According to the report, two things triggered this: US-Iran ceasefire negotiations and Bitcoin surpassing $76,000. BTC had been stuck at horizontal levels for two months after the February drop; breaking these levels attracted position taking. Total assets under management rose to $155 billion, with the weekly inflow/AuM (total assets under management) ratio at its highest level of the year at 0.91 percent. In terms of regional distribution, the US alone drove almost all of the inflow with $1.49 billion. Germany was up $28 million. Switzerland stands apart with a $137.8 million outflow. Europe isn't the only block.Bitcoin funds have withdrawn $1.115 billion, bringing the total to $3.07 billion since the beginning of the year. There's only a $1.4 million inflow on the short-Bitcoin side; very few want to bet down.The picture is more interesting for Ethereum. The weekly inflow of $328 million is the highest since January, and I don't think that's a coincidence. ETH has been in Bitcoin's shadow throughout the year, with investors largely ignoring it for a long time. This week's inflow shows that at least some money is starting to look at Ethereum again. The total figure reaching $197 million year-to-date also supports this turnaround; the starting point was low, but the direction seems to have changed. The altcoin side is more mixed, each asset has a different story. XRP experienced a weekly outflow of $56.2 million, and a negative monthly outlook. Despite this, it remains up $122 million year-to-date; meaning the long-term conservative group is still there, while short-term money is fleeing. Solana is showing a similar divergence: despite a small weekly outflow of $2.3 million, the year-to-date total is up $216 million. Chainlink saw inflows of $5.3 million, Sui $2.2 million, and the "other" category $4.8 million; small numbers but the direction is positive. Among providers, iShares led by a wide margin with $1.04 billion. Bitwise added $122 million, and ARK 21Shares added $106 million. CoinShares saw outflows of $113 million. On the macro front, March CPI came in at 3.3%, and core at 2.6%. The market did not interpret this as a problem, which opened up room for upward movement.
Dual Boost for XRP from Asia: Rakuten Integration and South Korea Move
Rakuten, a Japan-based e-commerce and technology company, has announced the integration of XRP into its Rakuten Pay payment application. Launched on April 15th, the system allows approximately 44 million users to use XRP as a payment method and conduct buying and selling transactions within the application. Under the new integration, users can purchase XRP with their Rakuten Points. These XRPs can be stored in the Rakuten Wallet and converted to Rakuten Cash, which can then be spent at over 5 million merchants across Japan.Rakuten's loyalty program is known as one of the largest reward systems in Japan. According to company data, the total value of points in circulation exceeds 3 trillion yen. Integrating this system with XRP allows users to convert their earned points into digital assets. Rakuten is not taking a new step in cryptocurrency integration. The company previously added Bitcoin, Ethereum, and Bitcoin Cash to its payment options in 2023. Furthermore, in 2021, it announced its own token project, Rakuten Coin. The inclusion of XRP in the system has expanded the variety of crypto assets on the platform. Statements from the Ripple ecosystem indicate that this development is a significant milestone for XRP. Company representatives stated that thanks to Rakuten's strong user base and extensive service network in Japan, XRP can reach a wider audience. On the price side, XRP has shown an upward trend in recent days with increased trading volume. The asset climbed from $1.32 to $1.39, exhibiting a noteworthy short-term movement. The rise was supported by gradual buying rather than a single sudden jump. However, the XRP price stabilized just below the $1.38 level, exhibiting a sideways trend before creating a new upward wave. Increased trading volume and purchases by large investors were among the key dynamics behind the movement during this period. Ripple infrastructure enters the government bond market in South KoreaMeanwhile, Kyobo Life, a long-established insurance company in South Korea, announced that it will use Ripple Custody infrastructure for the custody and settlement processes of government bonds. This step represents a significant development towards the digitalization of transaction processes in the approximately $800 billion government bond market. Under the current system, completing government bond transactions in South Korea takes about two days. During this process, both asset transfers and payment confirmations remain pending. The new structure aims to complete these transactions in seconds by tokenizing them.The collaboration between Kyobo Life and Ripple is not limited to custody services. It is also reported that the parties are testing stablecoin-based payment infrastructures. Whether Ripple's stablecoin, RLUSD, will be used in this process is not yet clear.South Korea is among the countries that have adopted a controlled approach to regulation, creating a testing ground for blockchain applications. With the commencement of licensing processes for crypto custody services in the country, the shift of financial institutions towards blockchain-based solutions has also accelerated.
XRP Commentary and Price Analysis - March 26, 2026
XRP Technical OutlookOn the XRP side, as of the March 26 news flow, developments have been seen on the institutional investment front. Reports that Goldman Sachs has invested in XRP indicate that major players are starting to show interest in this space again. This suggests that XRP has not been completely disregarded on the institutional side. However, despite this interest, there has not yet been a strong price movement. Therefore, it is important to observe how this institutional step is reflected in the technical chart. XRP Critical Zone The long-standing downtrend structure is still intact. Highs continue to come lower, and price keeps moving under this descending trend. There are occasional relief rallies, but they are not strong enough to change the overall picture.Currently, price is in the 1.30–1.35 range, and this area is critical. It has held several times before, meaning buyers tend to step in here.However, if this level is lost, the situation changes. There is open space below, and price could pull back toward the 1.00 level, even down to the descending trendline. This area is important both psychologically and technically.On the upside, the 1.70–1.85 range stands out. Price has consistently faced selling pressure when approaching this zone. As long as this area is not broken, upward moves will continue to remain as relief rallies.As long as 1.30 holds, price attempts to stabilize and relief moves continueIf price drops below 1.30, downside momentum acceleratesIn this scenario, the first major target becomes the 1.00 levelAs long as 1.70–1.85 is not broken, upward moves remain limitedThese analyses do not provide investment advice and focus on support and resistance levels that are considered to offer short- and medium-term trading opportunities depending on market conditions. However, responsibility for execution and risk management lies entirely with the user. In addition, the use of stop loss is strongly recommended.
Goldman Sachs Invests in XRP: A $152 Million Position
Global financial giant Goldman Sachs revealed its XRP-focused investment strategy in a recent filing with the US Securities and Exchange Commission (SEC). The company holds positions exceeding $152 million in four different spot XRP ETFs, indicating continued institutional investor interest in XRP. Institutional Demand ContinuesAccording to the 13F filing dated March 25th, Goldman Sachs maintains its position as the largest institutional investor in XRP ETFs. With total assets exceeding $3.5 trillion, the company holds significant stakes in four separate products offered by different issuers.Looking at the details, Goldman Sachs holds approximately 2 million shares worth $35.9 million in the 21Shares XRP ETF, $39.8 million in the Bitwise XRP ETF, and $38.4 million in Franklin Templeton's XRPZ product. In addition, Grayscale has approximately $38 million invested in its GXRP ETF. When all these items are combined, the company's total position in XRP ETFs reaches $152.1 million.This shows that XRP is included in portfolios not only by individual investors but also by large-scale financial institutions. Besides Goldman Sachs, other prominent institutional investors in XRP ETFs include Millennium Management, Citadel Advisors, and Jane Street.On the other hand, according to Bloomberg data, the company is known to have a similar position size in the last quarter of 2025. However, the current application does not provide a clear picture of whether Goldman Sachs has increased or decreased its position recently. The answer to this question will become clearer with the first quarter (Q1) reports of 2026, which are usually published in mid-May. ETF flows and price pressureLooking at the overall picture in spot XRP ETFs, a mixed picture emerges. According to the latest data, there was a limited inflow of approximately $1.26 million into ETFs on Wednesday. All of this inflow came from Bitwise products, while no significant movement was observed in other ETFs.AUM stands at $995.7 million, while cumulative net inflows have reached $1.21 billion. On the market side, the XRP price declined in line with the general crypto sell-off. Data from the last 24 hours shows the price falling by over 2% to $1.37. However, a different picture is emerging in the derivatives market. Open interest in XRP futures has increased by 1.6% in recent hours, reaching $2.53 billion. Additionally, Ripple's testing of its RLUSD stablecoin for cross-border payments as part of the BLOOM project with the Singapore Central Bank has also been in the news.
