Ripple launched National Trust Bank to support RLUSD stablecoin; XRP rebounded to $1.34 with growing network activity and millionaire wallet accumulation.
DeFi & Yields ·
Ripple achieved multiple milestones in October, including regulatory approval to establish Ripple National Trust Bank, a federally supervised entity designed to support reserves and custody for its RLUSD stablecoin. The period saw expanded platform access for RLUSD through partnerships with Coinbase, Robinhood, and BNY Mellon, alongside a long-term A2 and short-term P-1 investment-grade rating from Moody's. The XRP Ledger also activated the fixCleanup3_4_0 amendment in early November to address a vulnerability in token authorization protocols.
XRP's price fell to $1.20 following a Binance security incident but subsequently recovered, climbing to $1.34 and breaking past a $1.28 resistance level. Analysts have outlined scenarios in which the asset could reach $1.40 in the near term, with some mapping longer-term paths toward $5 or $8 within a year. ETF flows remain near all-time high levels at $1.81 billion cumulatively, though recent daily net flows have been modest or negligible.
Network metrics signal sustained holder engagement: nearly 8,000 new wallets appeared on November 1 alone, and the number of millionaire wallets reached its highest level of the year at 2,147, suggesting strong accumulation despite short-term volatility. The extent to which regulatory approval and stablecoin adoption will drive longer-term price appreciation remains to be demonstrated in market conditions.