Ripple's October was marked by a series of announcements and partnerships, particularly around its RLUSD stablecoin, while the XRP Ledger activated a security fix and XRP ETFs experienced fluctuating flows. The native token also rebounded after a market-wide sell-off, climbing above a key resistance level.
Ripple's Big October
During the month, Coinbase expanded access to RLUSD across several platforms, including Coinbase Prime, Coinbase Exchange, and its retail app, with support spanning the XRP Ledger, Ethereum, and Base. Robinhood also entered a new partnership that will allow the stablecoin to play a role across Bitstamp, institutional settlement, and eventually its main application.
BNY Mellon increased its custody support for XRP and RLUSD, and Moody's assigned the stablecoin an A2 long-term and P-1 short-term investment-grade rating—the highest short-term grade under its stablecoin framework.
Additionally, the Office of the Comptroller of the Currency granted final approval for Ripple to establish Ripple National Trust Bank, a federally supervised entity designed to support RLUSD reserves and institutional digital-asset custody.
ETF Flows and XRPL Fix
On the ETF front, XRP ETFs were among the few crypto-focused products that ended October in the green, though it was their second-to-last month in terms of net inflows. November started with outflows: on the first trading day, the ETFs lost over $500,000, and the following two days saw no reportable action, with SoSoValue data showing $0.00 on both. The cumulative total net flows remain close to all-time high levels at $1.810 billion.
Separately, the XRP Ledger activated the fixCleanup3_4_0 amendment at 10:52 PM on November 4. According to developers, the fix addressed a vulnerability that could have allowed accounts authorized only to destroy an issuer's tokens to create new ones under certain conditions. The update was delayed because validator support briefly fell below the required threshold just days before activation.
XRP Price Update
XRP dumped to $1.20 after last week's major hack against Binance but quickly rebounded to $1.25. Analyst Ali Martinez commented that the asset is coiling for a major move and predicted a surge to and beyond $1.40 if it managed to reclaim the $1.28 resistance. The bulls celebrated after the Wednesday rally as XRP indeed surged past that level and tapped $1.34 before it was stopped. Nevertheless, it remained above $1.30 as of press time.
Meanwhile, analyst ChartNerd warned that XRP might need to revisit a historical demand zone against BTC before it could outperform the market leader significantly. Against USD, however, he was considerably more bullish, mapping out a path toward $5 or even $8 within the next year.
Network activity has picked up lately, with almost 8,000 new wallets created on November 1 alone—a development that preceded the breakout past $1.28. Separately, XRP's millionaire wallets reached their highest number of the year, surging to a record 2,147. According to Santiment, this signals strong accumulation despite the asset's price weakness at $1.25 at the time of the report, as large holders remain optimistic about future growth.
