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: $1.36 (-11.76%)
XRPL TVL: $46.8M (-6.8%)
RLUSD Volume (24H): $85.7M (+12.8%)
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 has partnered with Securosys and Figment to bring hardware-based security features and staking support to its custodial platform Ripple Custody. Securosys makes hardware security modules, which enables Ripple to offer key management services both on premises and on the cloud. Figment, meanwhile, enables staking on proof-of-stake networks like Ethereum and Solana.
Aviva Investors, the asset management arm of Aviva plc, has partnered with Ripple to tokenize traditional fund structures on the XRP Ledger. The collaboration is Ripple's first with a European investment management firm and marks Aviva's first tokenization initiative. Both companies will work together through 2026 and later to bring tokenized funds to XRPL.
Ripple has expanded Ripple Payments into an end-to-end platform that lets enterprises collect, hold, exchange, and pay out both fiat and stablecoins within a single system. The platform now integrates managed custody, virtual accounts, and liquidity management following Ripple’s acquisitions of Palisade and Rail, and is seeing growing adoption among fintechs and banks using stablecoins to improve cross-border payments and liquidity management across more than 60 global markets.
Flare Networks has minted 100 million FXRP tokens, which means 100 million XRP has been deployed to generate yield on the network. FXRP is a wrapped representation of XRP on Flare that enables holders to access DeFi yield strategies while maintaining exposure to the underlying asset.
Ripple and XRP Rundown
➡️ What happened: Ripple is consolidating its payments infrastructure into a single vertically integrated platform. By folding its recent acquisitions, Palisade (custody) and Rail (virtual accounts), into Ripple Payments, the network is working to help fintechs and banks collect, hold, exchange, and pay funds in both fiat and stablecoins across more than 60 markets.
On the ledger side, the XRP Ledger activated XLS-81 (Permissioned DEX), a hybrid system that layers credential-gated order books on top of the existing open DEX. The system lets institutions trade onchain while meeting KYC/AML requirements, and because permissioned and open order books sit on the same ledger, arbitrage between them keeps pricing efficient.
Separately, Aviva Investors announced a partnership with Ripple to tokenize traditional fund structures on XRPL, becoming the first European asset manager to tokenize funds.
➡️ Why does it matter: The payments integration removes the need for institutions to use separate vendors for custody, collections and cross-border settlement. Ripple’s platform bundles managed custody, virtual account provisioning, and automated conversion, lowering the operational overhead of launching stablecoin-based payment services.
Meanwhile, XLS-81 solves a core tension in institutional DeFi: compliance requirements have historically forced participants into isolated pools with low liquidity. The permissioned DEX avoids this by keeping regulated order books on the same ledger as the open market. Market makers can arbitrage between both sides, which means institutional flows benefit from the full depth of XRPL liquidity.
Ripple plans to use these permissioned order books as the conversion layer for Ripple Payments, routing cross-border FX through verified liquidity providers and leveraging atomic settlement.
By tokenizing fund structures on XRPL, Aviva aims to tap fast settlement and onchain compliance tooling at institutional scale.
➡️ The big picture: Ripple is assembling the full infrastructure stack for institutional finance to operate natively onchain: vertically integrated payments, protocol-level compliance via the Permissioned DEX, the upcoming Lending Protocol (XLS-66), and RLUSD.
With 75+ regulatory licenses globally and over $100 billion in cumulative processed volume, the platform is positioned to capture a share of what Citigroup estimates could be a $3.7 trillion stablecoin market by 2030.
Interested in learning more on Ripple? Here are some updates that caught our eye:
Ripple detailed its crypto philanthropy partnership with Great Ormond Street Hospital Charity. The network made its first cryptocurrency donation to the charity (over £60,000 in XRP) and helped establish infrastructure for ongoing crypto donations through Zodia Markets
Zand has partnered with Ripple to develop digital economy solutions powered by its AED stablecoin (AEDZ) and Ripple's RLUSD
Follow Ripple and visit their website to explore additional opportunities.
XRP Developments
Look into the biggest announcements, developments and more happening within the Ripple.
Ripple published an Institutional DeFi roadmap update for XRPL, detailing live features such as Multi-Purpose Tokens, Credentials, and Permissioned Domains as well as upcoming products like the Permissioned DEX (Q2), Lending Protocol (XLS-65/66), Confidential Transfers for MPTs, and Smart Escrows
RippleX developer Antonio Kaplan published a technical breakdown of the Permissioned DEX (XLS-81), detailing how credential-gated order books enable institutional FX, settlement, and compliant onchain liquidity on XRPL alongside the existing open DEX
The x402 protocol facilitator is live on XRPL, enabling AI agents to pay for API services using XRP and RLUSD
Xaman Wallet integrated Flare’s XRPFi Yield, enabling XRP holders to access onchain yield on Upshift via Flare Smart Accounts directly from their XRPL wallet without requiring new keys, gas tokens, or cross-chain bridging
Evernorth CEO Asheesh Birla discussed institutional DeFi on XRPL on the Onchain Economy podcast. He also spoke about how Evernorth is building the largest institutional XRP treasury, and deploying capital into yield-bearing strategies across the XRP Ledger
Ripple’s XRP Community Day featured innovation spotlights from developers, a session on stablecoins and XRP with Jack McDonald, and closing remarks from David Schwartz and Emi Yoshikawa
Ripple outlined its 2026 ecosystem funding strategy, shifting focus to a distributed model across: the FinTech Builder Program, XAO DAO microgrants, XRPL Commons, a new XRP Asia regional hub, and expanded UDAX accelerator cohorts at FGV São Paulo and University of Oxford
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:
Join XRPL for the XRP Hackathon at the Istanbul Technical University
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.