Ripple remains one of the most talked-about topics in the cryptocurrency world for several reasons, including ecosystem changes, ETF progress, and XRP’s price performance.
Here are the most important recent news and developments.
The ETF Front
Institutional interest in Ripple’s native token has been strong lately, with inflows continuing to far outweigh outflows. Spot XRP ETFs have, in fact, registered eight green weeks in a row, as the cumulative total net inflow has surpassed $1.7 billion.
So far, the companies offering such products include Bitwise, Franklin Templeton, Canary Capital, 21Shares, and Grayscale. However, the lineup may grow as more entities prepare similar investment vehicles.
The X account BankXRP said T. Rowe Price updated its crypto ETF filing, which will allow exposure to multiple digital assets. XRP now sits at a 9.15% weight, dwarfing Solana’s SOL, Hyperliquid (HYPE), and Canton Network (CC), which are at 8.73%, 4.94%, and 1.60%, respectively. Bitcoin (BTC) leads at 39.54%, followed by ETH (18.86%).
In a separate post, BankXRP revealed that Exchange Listed Funds Trust filed the “CYBER HORNER S&P 500® and XRP 75/25 Strategy ETF” with the SEC. If the regulator approves it, the product will let investors gain exposure to both the stock market and Ripple’s native cryptocurrency in a 75/25 ratio.
RLUSD’s Advancement
Ripple officially unveiled its dollar-pegged stablecoin RLUSD in December 2024, and since then it has expanded its global reach. Earlier this summer, it received approval from the Japanese Financial Services Agency (JFSA) to launch the product in the country and, shortly after, revealed that last year it had committed $25 million in RLUSD to support underserved US small business owners and career programs for military veterans.
Over the years, the stablecoin gained backing from numerous exchanges and renowned banking institutions, including the oldest American bank, BNY Mellon. In July, Ripple Mint expanded RLUSD access beyond traditional platform-based workflows, giving institutions the option to manage it through a user interface or through programmatic integrations.
The asset’s market cap has grown to almost $2.5 billion, making it the 42nd-biggest cryptocurrency and the 9th-largest stablecoin. The undisputed leader in its niche remains USDT, boasting a capitalization of over $183 billion, followed by Circle’s USDC (roughly $74 billion).
Critical XRPL Bug Fixed
Recently, the XRP Ledger addressed a bug affecting its newly introduced Permission Delegation feature, known as XLS-75, which allows one account to give another specific powers to act on its behalf. The vulnerability could have enabled delegated players to perform actions beyond the permissions originally granted to them.
The team fixed the issue before any known cases of exploitation or loss of funds. The incident did not compromise XRP itself, and ordinary holders who had not used Permission Delegation were not exposed to the bug.
XRP Price Outlook
Ripple’s cross-border token has experienced substantial volatility lately, with its valuation hovering between $1.36 and $1.47 over the past week. As of this writing, it trades at around $1.38 (per CoinGecko) following a 4% daily plunge.
Meanwhile, potential developments around the CLARITY Act (expected on September 15) and the FOMC meeting (scheduled for next week) could add further turbulence to the price.
XRP remains the subject of predominantly bullish price predictions. Several days ago, Ali Martinez set the asset’s bull-market target at the implausible (at least for now) $60.
“For nearly a decade, XRP has been forming a massive ascending triangle on the monthly chart. The $3.66 resistance level is the key barrier. A monthly close above it would confirm the breakout and activate a technical target near $60,” the analyst stated.
For his part, David Schwarz recently argued that Ripple’s native token could eventually flip BTC. In his view, this will not happen from Bitcoin’s shrinking, but because XRP is growing faster than the primary cryptocurrency.
The post Important Ripple News and XRP Price Update: September 10 appeared first on CryptoPotato.
Source: https://cryptopotato.com/important-ripple-news-and-xrp-price-update-september-10/
