Welcome to the Ripple Overview. Every month, we dive deep into Ripple, XRP, XRPL, RLUSD and more to bring you the latest on ecosystem developments, updates, metrics, insights and more.
Ripple By The Numbers
$XRP: $1.40 (-1.41%)
XRPL TVL: $42.2M (+1.3%%)
XRP Holders: 573.3K (+2.2%)
RLUSD Market Cap: $2.46B (+0.82%)
RLUSD Volume (24H): $20.25B (-6.21%)
These metrics are accurate upon publication. The percentages are based on month-over-month changes, unless noted otherwise.
What Caught Our Eye This Month
XRPL's revised PermissionDelegationV1_1 amendment entered its 14-day activation countdown, with backing from 29 of 35 trusted validators.
The amendment, which would let an account grant another account narrow, specific rights over transactions without sharing its signing keys, is currently on track for an October 5 activation if validator support holds above the required 80% threshold.
If activated, the upgrade would be a major step forward for institutional clients, allowing them to separate payment execution from compliance oversight.
XRPL was added to the Open Wallet Standard, and is now a settlement option within Stripe and Tempo's new Machine Payments Protocol, accessible through the XRPL AI Starter Kit.
The integration routes payments over native XRPL payment channels, allowing payments to settle in a single transaction on the ledger.
Ripple signed a multi-year sponsorship with Louisville Athletics, as part of which XRP branding will be visible throughout the university’s basketball facilities.
Ripple will also provide financial and digital-asset education for student-athletes and the campus community.
Ripple Rundown
➡️ What happened: Ripple has added policy-governed AI capabilities to GSmart, its AI suite within Ripple Treasury.
The update adds policy-governed AI agents that support forecasting, risk assessment, reconciliation and reporting, according to predefined guidelines. These agents can monitor their assigned processes, propose specific actions, and cite the policies informing their recommendations.
A new feature, called Knowledge Studio, lets treasury managers define their organization’s policies and controls to govern how the agents operate. Another feature, called Analytics Studio, gives users access to a conversational assistant for querying treasury data.
➡️ Why it matters: GSmart separates deterministic financial data from AI-powered interpretation. Core financial math is handled by deterministic engines, while AI is used to interpret policies, identify patterns and trends, and surface recommendations.
Such separation allows treasury teams to use AI to accelerate analysis and decision-marking while maintaining established controls around financial calculations and execution.
Ripple says customers are already adopting the capabilities, with 60% of eligible customers turning on Risk Insights, and 44% using Forecast Insights to flag emerging liquidity gaps.
➡️ The big picture: This expansion builds on Ripple Treasury's digital asset capabilities, and is a step toward the network’s goal of creating a system using which treasurers can view, predict, transfer and earn money across fiat currencies and digital assets.
Follow Ripple and visit their website for more news.
Chart of the month
This year has proven particularly good for the XRPL, with the ledger seeing the most growth in its RWAs of any chain 10 months in. The XRPL’s RWA market capitalization had increased more than 60 times to $2.46 billion by September 30 from $40.8 million on January 1.
Most of that growth came as a result of JMWH, a tokenized commodities asset issued by Justoken that accounts for $2.2 billion of the total. The second largest asset by market cap is OUSG, Ondo Finance’s tokenized treasury bill fund, which accounts for $189.9 million.
While the XRPL’s RWA economy is rather concentrated in a few assets, its total dollar value now places it as the sixth largest RWA chain by market capitalization.
XRP Ledger Developments
A look at the biggest announcements and developments in the XRP ledger ecosystem.
Ripple Prime deepened its relationship with Brevan Howard by providing multi-asset prime brokerage, clearing and financing services to its funds.
CSD BR, a clearing house and financial market infrastructure provider in Brazil, partnered with Ripple to begin recording and auditing financial assets on the XRPL. This is the first of their partnership, with subsequent phases likely to enhance the XRPL’s role through onchain issuance and trading.
RippleX and DeVinci Blockchain hosted a 48-hour hackathon at ESILV Paris, which drew 45 builders who tested XRPL's upcoming Lending Protocol (XLS-66) and Single Asset Vault (XLS-65) primitives. The top projects include:
Orma, a solvency-reading credit rating engine.
Patapim, which modeled institutional securities lending.
BSA Capital, a secondary market for otherwise-locked closed-ended vault positions.
Enter The XRPL Community
Want to build on the XRP Ledger? Visit the XRPL learning portal for more info on documentation and tools. Or go further down the rabbit hole:
Catch you here next time.
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.