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Crypto

XRP retreats to November 2024 levels as spot and derivatives markets tilt to selling

XRP slid as low as $0.99, its lowest level since November 2024, as selling pressure dominated both spot and derivatives markets. Data showed worsening cumulative volume delta on Binance perpetual futures and a shift to negative spot CVD on centralized exchanges. Positioning also leaned bearish, with shorts outnumbering longs. The decline coincided with concern over movements from an XRP Ledger account used for the Coreum bridge, though indicators such as spot XRP ETF inflows remained positive.

Crypto

XRP Ledger shifts focus from payments to stablecoin infrastructure

An assessment has emerged that XRP Ledger (XRPL) is shifting its center of gravity from a payments-focused blockchain to a stablecoin trading network. Jim Faraioli, head of crypto research at U.S. securities firm Charles Schwab, said major blockchains are becoming specialized as the crypto industry reshapes. He cited RLUSD supply data showing XRPL’s RLUSD supply in June slightly exceeded Ethereum’s, supporting the view of a stablecoin-centered evolution.

Crypto

Ripple extends NYU Abu Dhabi research partnership until 2027 to train blockchain talent in Middle East

Ripple has extended its blockchain research partnership with New York University Abu Dhabi through 2027 via its University Blockchain Research Initiative, as it seeks to broaden research and talent development in the Middle East. Ripple executive Reece Merrick highlighted research led by professors Rasha Karapanza and Yaw Nyarko. Separately, on-chain data showed 32 more wallets holding at least 1 million XRP over three months even as XRP market value fell 29 percent.