Welcome to the Ripple and XRP 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 NumbersXRP and Ripple USD (RLUSD) By The Numbers
$XRP: $1.10 (-0.83%)
XRPL TVL: $34.0M (-13.4%)
XRP Holders: 541.4K (+1.5%
RLUSD Market Cap: $1.55B (-0.86%)
RLUSD Volume (24H): $71.8M
These metrics are accurate upon publication. The percentages are based on month-over-month changes, unless noted otherwise.
What Caught Our Eye This Month
Ripple and Bitso expanded their partnership to bring MXNB, a Mexican peso-backed stablecoin, to the XRP Ledger. Under the agreement, MXNB will work alongside RLUSD to help move money between the U.S. and Mexico.
Ripple launched a toolkit to help AI agents make payments using the XRP Ledger. The toolkit includes pre-built skills for AI agents, support for the X402 payment standard, documentation readable by AI agents, and tutorials for developers. While still early, Ripple expects AI-driven commerce to grow.
Ripple published a deep dive into the XRPL Lending Protocol, explaining how it separates offchain credit decisions from onchain execution to bring institutional-grade credit infrastructure to the XRP Ledger. The post highlights how this approach could enable working capital, inventory financing, treasury management, and other institutional financing use cases for tokenized assets. The protocol is currently available for testing on devnet while it awaits validator approval.
Ripple and XRP Rundown
➡️ What happened: Ripple received full approval for a Crypto Asset Service Provider (CASP) license from Luxembourg's Commission de Surveillance du Secteur Financier (CSSF) under the EU's Markets in Crypto Assets (MiCA) regulation. This approval clears Ripple to begin scaling its regulated cryptoasset payments services to financial institutions and businesses across all 30 countries of the European Economic Area.
➡️ Why it matters: Paired with Ripple's existing EU Electronic Money Institution (EMI) license, also held in Luxembourg, the CASP license lets European banks, fintechs, and corporates access Ripple's full cryptoasset and stablecoin payments stack through a single integration. Importantly, the CASP license also makes Ripple fully MiCA-compliant. The move follows Ripple's recent acquisition of an EMI license and Cryptoasset Registration from the UK's Financial Conduct Authority in January 2026.
Broken down, the EU EMI license governs the movement of fiat and e-money while the CASP license governs regulated cryptoasset activity. Holding both turns Ripple Payments into an end-to-end, fully-permissioned flow of funds that an institution can plug into.
➡️ The big picture: Ripple has been working towards regulatory compliance for years, and now holds a global portfolio of more than 75 regulatory licenses. These approvals create a moat around Ripple’s products, increasing their usability around the world and differentiating them from newer entrants with less regulatory coverage.
Taken together with the UK FCA permissions from earlier in 2026, the European approval shows Ripple’s commitment to offering fully-regulated payments services as a way to onboard institutional customers.
Interested in learning more on Ripple? Here’s some updates that caught our eye:
Ripple has expanded its office in Washington D.C. in a bid to improve its relationship with lawmakers, regulators, and financial industry leaders.
The network also struck a deal with Japan’s SBI Group to launch RLUSD in the country.
Follow Ripple and visit their website for more news.
Our Latest Quarterly Webinar on Ripple Prime
Ripple Prime, which was acquired by Ripple in April 2025, formerly under the name Hidden Road, is one of the largest non-bank prime brokers globally, clearing over $3 trillion annually across 300+ institutional clients.
In a quarterly webinar with Token Relations, Ripple Prime CEO Mike Higgins said revenue has more than tripled since the acquisition, fueled by new clients and existing ones expanding exposure. He pointed to three drivers of that growth:
RLUSD's 24/7 collateral movement, which extends trading hours and lowers margin risk
A horizontal clearing infrastructure enabling unified risk management across asset classes
Cross-margining across asset classes, which he said can reduce a $12.5 million margin requirement into roughly $1 million
The second quarter of this year also brought it new integrations with EDX Markets, Coinbase Derivatives, Hyperliquid, and Bullish, plus a $200 million debt facility from Neuberger Berman.
Higgins also noted a growth in clientele from crypto-native trading firms toward hedge funds, asset managers, pensions, and endowments, aided by improving regulatory clarity under the Genius Act and pending Clarity Act.
Looking ahead, near-term priorities include enabling new collateral types like tokenized money market funds and a "Delta One" equities business, while the longer-term focus is industry standardization. Comparing the market's maturity to "the second inning" of baseball, Higgins closed by describing Ripple Prime as the "connective tissue" between traditional and digital finance, working toward a full-stack offering spanning payments, custody, stablecoins, treasury, and prime brokerage.
To listen to the complete interview, please check out the recording on Youtube.
XRP Ledger Developments
A look at the biggest announcements and developments in the XRP ledger ecosystem.
Asheesh Birla, CEO of Evernorth, spoke on Talking Tokens about his firm's research on RLUSD and the XRP Ledger, explaining how the stablecoin now accounts for 12% of XRP trading volume, and the importance of a robust dollar pair for building institutional-grade onchain markets.
Net inflows into XRP ETFs have remained positive for nine straight weeks, with total net inflows sitting at $1.5 billion.
David Schwartz, Ripple’s CTO Emeritus, has proposed a transaction reservation system to prevent front-running on the XRP Ledger. The system would allow users to reserve block space for upcoming transactions before they become visible onchain.
Peersyst Technology, a blockchain development company, detailed XRP Ledger’s EVM sidechain’s the upcoming v11 upgrade. The upgrade focuses on improving security by extending the un-staking period for validators to 7 days from 1 day, adds fund recovery capabilities, limits how much capital can leave the network at once, and tightens rules for who can become a validator.
The XRP Ledger developer community has proposed an upgrade that would allow batch transactions — combining multiple actions like swapping, sending or borrowing into a single transaction. If approved, this would make multi-step activities faster, cheaper and simpler for users and developers.
Enter The XRPL Community
Want to build on the XRP Ledger? Visit the XRPL learning portal for documentation and information on tools. Or go further down the rabbit hole:
Check out the latest jobs at Ripple or XRP Ledger
Join the XRPL Discord server
Check out Ripple’s latest updates on X
Check out the latest updates from the XRPL community
Sign up for upcoming events
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.