Ripple RLUSD Expands As XRP Clears Resistance
Key Summary
Ripple solidified its institutional footprint throughout October with major stablecoin integrations, a federal bank charter approval, and rapid network adoption. Coinbase and Robinhood extended platform support for RLUSD, while BNY Mellon reinforced custody operations. Moody assigned an A2 rating to the stablecoin, matching the green light from the OCC for the Ripple National Trust Bank. Despite early November ETF outflows hitting $500K and a brief hack-driven dip to $1.20, XRP reclaimed $1.30 after piercing resistance at $1.28. Santiment metrics confirmed millionaire wallets touched a yearly peak of 2,147 addresses, reflecting heavy accumulation by major holders.
Key Bullets
- Coinbase and Robinhood expanded native stablecoin access for RLUSD across multiple trading and institutional settlement environments.
- Moody assigned RLUSD an A2 long-term rating alongside a P-1 short-term grade under its stablecoin framework.
- Spot ETF products recorded $500K in net outflows to start November while total net flows hovered near $1.81B.
- Santiment on-chain records confirmed XRP millionaire wallets surged to a yearly peak of 2,147 addresses.
Institutional Stablecoin Expansion and Banking Approvals
Coinbase expanded access for RLUSD across Coinbase Prime, its retail application, and the Coinbase Exchange, deploying support across XRPL, Ethereum, and Base networks. Robinhood established a partnership allowing the stablecoin to operate on Bitstamp and institutional settlement rails.
Moody assigned the stablecoin an A2 long-term and P-1 short-term investment-grade rating. The Office of the Comptroller of the Currency granted final approval for Ripple to establish the Ripple National Trust Bank, providing a federally supervised entity to back RLUSD reserves.
XRP Ledger Security Patch and ETF Flow Reversals
Developers successfully activated the fixCleanup3_4_0 amendment on the XRP Ledger at 10:52 PM on November 4 after validator support recovered from a brief dip below the required threshold. The fix resolved a vulnerability regarding token destruction permissions.
Spot ETF products suffered outflows exceeding $500,000 on the first trading day of November. SoSoValue telemetry recorded zero net movement across subsequent sessions, though cumulative net inflows stayed elevated near $1.81B.
Price Action and Whale Accumulation Metrics
XRP rebounded from a low of $1.20, which followed a major security breach at Binance. Order-book data monitored on spot exchanges showed the token clearing the $1.28 resistance barrier and touching $1.34 before settling above $1.30.
Santiment transaction metrics verified that XRP millionaire wallets expanded to 2,147 addresses, marking a yearly high. Network data further showed nearly 8,000 new wallets created on November 1 ahead of the technical breakout.
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