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: $1.39 (+3.07%)
XRPL TVL: $48.4M (+4.5%)
RLUSD Market Cap: $1.53B (+10.07%)
RLUSD Volume (24H): $44.1M (+31.3%)
XRPL Unique Active Accounts: 20.5K (+20.6%)
XRP Payment Volume: $373.02 (-54.49%)
These metrics are accurate upon publication. The percentages are based on month-over-month changes, unless noted otherwise.
What Caught Our Eye This Month
RLUSD launched on OKX with 280+ trading pairs, collateral support, and full XRPL deposit and withdrawal rails. The listing extends the stablecoin's reach into one of the largest exchanges for derivatives and cross-margin trading, deepening institutional liquidity beyond its earlier integration with Binance.
Ripple Treasury has added native digital asset management capabilities to its enterprise Treasury Management System (TMS). Digital Asset Accounts allow investors to create and manage asset accounts directly within the TMS, while Unified Treasury lets finance teams view, hold, receive, and manage fiat and digital liquidity from one system.
Ripple has opened a new Middle East and Africa regional headquarters in the Dubai International Financial Centre (DIFC), which provides capacity to double the size of its local team. The expansion follows Ripple receiving a payments license from the Dubai Financial Services Authority (DFSA), and the recent recognition of RLUSD as an approved crypto token for regulated DIFC firms.
Crypto in America reported live from XRP Vegas, diving into the conference and latest updates on XRP and Ripple with guest John Deaton.
Ripple Rundown
➡️ What happened: Ripple struck two partnerships with South Korean firms in April. The first deal would see Kyobo Life Insurance using Ripple Custody as the foundation for settling tokenized Korean government bond transactions on XRPL, and eventually later on stablecoin-based payment rails. The second, with Kbank, is a pilot program for testing blockchain-based remittances, targeting payment corridors between Asia and the Middle East.
➡️ Why does it matter: Government bond settlements remain one of the most operationally fragmented areas of capital markets, with flows today moving across custodians, clearinghouses, and dealers over multi-day cycles. Moving those transactions onto XRPL with Ripple Custody as the foundation will serve to compress settlement, reduce overhead, and establish a template that other Korean insurers and asset managers can adopt.
The pilot with Kbank targets a different segment: Kbank can route retail and SME remittances via XRPL. And stablecoin settlements offer a path to lower both cost and time between Asia and the Middle East, one of the largest fiat remittance arteries globally.
Taken together, the two partnerships help Ripple tackle both the institutional and retail sides of Korea’s financial market.
➡️ The big picture: Korea’s crypto regulation has been steadily evolving over the past year. The Virtual Asset User Protection Act, which took effect in July 2024, established the country's first comprehensive framework for registration, customer asset segregation, and market conduct standards. In January 2026, regulators began drafting a second-phase framework that would expand coverage to stablecoin issuance, corporate participation, and tokenized securities, precisely the categories Ripple is bringing to market through Kyobo Life and Kbank.
Korea joins a methodical institutional buildout by Ripple that now spans EU and UK Electronic Money Institution (EMI) licenses, Brazil Virtual Asset Service Provider (VASP) plans, Singapore's BLOOM initiative, Australia's pending Australian Financial Services License (AFSL), and over 75 regulatory approvals globally.
If the Kyobo pilot moves into production, it would mark the first time XRPL serves as a settlement layer for a fixed income product in Asia. This would set a precedent for regulators, insurers, and asset managers across the region, and could open the doors for further integration.
Interested in learning more on Ripple? Here’s some updates that caught our eye:
Rakuten Wallet enabled XRP conversion from Rakuten Points for its 44 million Japanese users, with in-app spot trading and spending support at 5M+ merchant locations. The rollout puts roughly $23B in loyalty point value behind XRP as a direct retail on-ramp, marking one of the largest payment deployments of the asset to date.
Bullish expanded its Ripple Prime integration to include BTC options trading. RLUSD will be usable as collateral, and cross-venue margins are in the works, further extending an already comprehensive derivatives stack spanning spot, perpetuals, and futures.
SoFi has added support for XRP deposits. Alongside BTC, ETH and SOL, the listing brings XRP into a regulated banking channel, and extends its distribution beyond crypto-native exchanges.
Spot XRP ETFs have crossed $1.5 billion in cumulative inflows, with 773 million XRP locked in custody since the funds were launched in November 2025. Canary Capital's XRPC ranked as the most successful ETF launch of 2025 by first-day trading volume across any asset class.
Follow Ripple and visit their website to explore additional opportunities.
XRP Ledger Developments
Look into the biggest announcements, developments and more happening within the Ripple.
Ripple outlined a multi-phase roadmap to prepare XRPL for a post-quantum future, targeting full readiness by 2028. The plan includes experimentation with quantum-resistant cryptography, validator testing, custody prototypes, and a contingency migration path if current standards are ever compromised.
Peersyst has submitted a governance proposal to reduce fees on XRPL EVM, the EVM-compatible sidechain extending XRPL. The fee change aims to keep the network competitive as XRP's relative price strength has pushed transaction costs above other EVMs.
Boundless, in partnership with XRPL Commons, has introduced a zero-knowledge proof verifier for the XRP Ledger, now available to developers in a Devnet environment. The integration enables confidential, compliant transaction validation, helping address the challenge of maintaining privacy on a public blockchain.
XRPL validators opened voting on XLS-65 (Single Asset Vault) and XLS-66 (Lending Protocol). The proposals would enable native fixed-term uncollateralized loans from pooled deposits. By keeping credit assessment offchain and loan primitives onchain, the design gives issuers a foundation on which they can tokenize bonds.
Enter The XRP 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.