Ripple Had a Massive October, but XRP Went the Other Way

October was as soon as identified in the cryptocurrency business as ‘Uptober’ because it introduced some spectacular positive aspects for years. As such, expectations had been high for an additional one in the 2026 version, but that didn’t materialize for a huge portion of the crypto property, together with XRP.

In distinction, the firm behind the cross-border token spent most of the month increasing primarily each a part of its institutional enterprise, from prime brokerage and stablecoins to banking, custody, company treasury, and the XRP Ledger itself.

From Wall Street to Swell

October 1-10:

Ripple Prime expanded its relationship with hedge fund Brevan Howard at the begin of the month, offering multi-asset prime brokerage, clearing, and financing companies. The firm additionally deepened its South Korean presence by means of a partnership with Meritz Securities centered on custody and tokenization, whereas its prime brokerage arm moved into leveraged ETF swap financing.

RLUSD was the focal point for many of the month, starting with its market cap flying previous the $2.5 billion threshold.

October 10-20:

The XRP Ledger Foundation confirmed that a important integer-overflow vulnerability relationship again to 2015 was fastened, stressing that it had by no means been exploited to create further XRP tokens. Shortly after, Standard Chartered launched institutional custody for RLUSD by means of its Dubai department, whereas XRP-focused treasury firm Evernorth began trading on Nasdaq after finishing its SPAC merger with roughly 473 million tokens.

Evernorth additionally announced plans to work with Ripple, Coinbase, Kraken, and BitGo to deploy its XRP treasury by means of institutional methods.

October 20-25:

Ripple backed the SEC’s proposed Regulation Crypto Asset framework whereas arguing that securities classification ought to concentrate on the funding contract reasonably than routinely treating the underlying token as a safety.

Ripple Prime added 24/7 RWA perpetual swaps, and Cross River Bank agreed to combine RLUSD into its banking platform for funds, treasury operations, and conversions between {dollars} and the stablecoin.

After October 25 and Swell:

The firm behind XRP launched an expanded Ripple Treasury platform with AI-driven money administration and 24/7 Returns for qualifying digital property. The OCC subsequently granted closing approval for Ripple National Trust Bank, offering the firm with a federally supervised entity for RLUSD reserves and enterprise digital-asset custody.

The agency additionally announced a broad partnership with Robinhood, masking RLUSD, institutional settlement, treasury operations, financing, and Bitstamp. BNY expanded custody assist to each XRP and RLUSD, whereas Ripple and C2FO unveiled plans to make use of XRPL and the stablecoin for near-instant supplier-payment settlement.

Coinbase became the subsequent main platform to broaden RLUSD entry throughout all of its platforms, whereas Ripple revealed that its annualized product income run price is approaching $900 million, with greater than 1,700 establishments, companies, and enterprises utilizing its infrastructure.

RLUSD acquired an A2 long-term and P-1 short-term investment-grade score from Moody’s, with the latter representing the company’s highest short-term grade for stablecoins.

XRP Stalled

It’s nearly onerous to consider, but all of these developments occurred in a single month. And perhaps we now have missed a couple, regardless that we attempt to be as thorough as attainable. You would assume the solely unstable cryptocurrency inside that broader Ripple ecosystem would profit from these, proper?

It sounds logical, and it needs to be the actuality, but it isn’t. XRP has regularly moved on hype, not the precise optimistic information. This doesn’t imply that it didn’t attempt to get away in October, because it began the month at round $1.50 and shortly aimed toward $1.55. However, it was rejected violently at that time, and it has been largely downhill since then.

The end result occurred on Friday after the infamous Binance hack. XRP, alongside most crypto property, tanked onerous and dropped to a two-month low of underneath $1.20. Although it rebounded to $1.25 at the finish of the month, it’s nonetheless deep in the crimson in what was alleged to be Uptober.

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