$XRP I used to dislike it for being old, but now I realize it is really preparing to put the banking system on-chain. But after taking another look at XRPL recently, I found that it is no longer just the old “cross-border payments” story. Ripple’s own stablecoin RLUSD already has a circulating supply of about $2.4 billion. More importantly, XRPL has just been updated to version 3.4.0, and its native lending protocol continues to advance, with things like closed-end vaults and on-chain credit gradually being added. RippleIn addition, Ripple is now also diving aggressively into RWAs, moving funds, tokenized assets, and institutional custody onto XRPL. XRPL officially disclosed that it has processed more than $1 trillion in cumulative value. RippleSo when I look at XRP now, the most interesting thing is no longer the lawsuit, nor which bank has formed another partnership. It is that this old chain is gradually growing into an “on-chain banking system.” Old as it may be, if it really gets stablecoins, lending, and RWAs all running, the whole picture will be completely different.

$XRP

The spot XRP ETF just had a $76 million week. Spot ETFs recorded $76 million in net inflows over the past week—their best-performing week since late August. These products currently have approximately $1.77 billion in AUM, holding 1.8% of the $XRP supply. Very bullish, huh?