October was as soon as identified within the cryptocurrency trade as ‘Uptober’ because it introduced some spectacular good points for years. As such, expectations had been excessive for one more one within the 2026 version, however that didn’t materialize for an unlimited portion of the crypto property, together with XRP.
In distinction, the corporate behind the cross-border token spent many of the month increasing primarily each a part of its institutional enterprise, from prime brokerage and stablecoins to banking, custody, company treasury, and the XRP Ledger itself.
From Wall Avenue to Swell
October 1-10:
Ripple Prime expanded its relationship with hedge fund Brevan Howard initially of the month, offering multi-asset prime brokerage, clearing, and financing providers. The corporate additionally deepened its South Korean presence by way of a partnership with Meritz Securities centered on custody and tokenization, whereas its prime brokerage arm moved into leveraged ETF swap financing.
RLUSD was the focus for many of the month, starting with its market cap flying previous the $2.5 billion threshold.
October 10-20:
The XRP Ledger Basis confirmed {that a} vital integer-overflow vulnerability courting again to 2015 was fastened, stressing that it had by no means been exploited to create further XRP tokens. Shortly after, Customary Chartered launched institutional custody for RLUSD by way of its Dubai department, whereas XRP-focused treasury firm Evernorth started buying and selling on Nasdaq after finishing its SPAC merger with roughly 473 million tokens.
Evernorth additionally introduced plans to work with Ripple, Coinbase, Kraken, and BitGo to deploy its XRP treasury by way of institutional methods.
October 20-25:
Ripple backed the SEC’s proposed Regulation Crypto Asset framework whereas arguing that securities classification ought to concentrate on the funding contract reasonably than robotically treating the underlying token as a safety.
Ripple Prime added 24/7 RWA perpetual swaps, and Cross River Financial institution agreed to combine RLUSD into its banking platform for funds, treasury operations, and conversions between {dollars} and the stablecoin.
After October 25 and Swell:
The corporate behind XRP launched an expanded Ripple Treasury platform with AI-driven money administration and 24/7 Returns for qualifying digital property. The OCC subsequently granted remaining approval for Ripple Nationwide Belief Financial institution, offering the corporate with a federally supervised entity for RLUSD reserves and enterprise digital-asset custody.
The agency additionally introduced a broad partnership with Robinhood, masking RLUSD, institutional settlement, treasury operations, financing, and Bitstamp. BNY expanded custody assist to each XRP and RLUSD, whereas Ripple and C2FO unveiled plans to make use of XRPL and the stablecoin for near-instant supplier-payment settlement.
Coinbase grew to become the subsequent main platform to broaden RLUSD entry throughout all of its platforms, whereas Ripple revealed that its annualized product income run fee is approaching $900 million, with greater than 1,700 establishments, companies, and enterprises utilizing its infrastructure.
RLUSD acquired an A2 long-term and P-1 short-term investment-grade ranking from Moody’s, with the latter representing the company’s highest short-term grade for stablecoins.
XRP Stalled
It’s nearly laborious to consider, however all of these developments occurred in a single month. And possibly we now have missed a pair, although we attempt to be as thorough as doable. You’ll assume the one risky cryptocurrency inside that broader Ripple ecosystem would profit from these, proper?
It sounds logical, and it must be the fact, nevertheless it isn’t. XRP has continuously moved on hype, not the precise constructive information. This doesn’t imply that it didn’t attempt to get away in October, because it began the month at round $1.50 and rapidly geared toward $1.55. Nonetheless, it was rejected violently at that time, and it has been largely downhill since then.
The end result happened on Friday after the notorious Binance hack. XRP, alongside most crypto property, tanked laborious and dropped to a two-month low of beneath $1.20. Though it rebounded to $1.25 on the finish of the month, it’s nonetheless deep within the pink in what was alleged to be Uptober.
The submit Ripple Had a Huge October, however XRP Went the Different Means appeared first on CryptoPotato.