XRP This week, it rebounded from the $1.34 to $1.35 range, rising to $1.40 on the 14th, with a 24-hour increase of 4.3%. As prices strengthened, Ripple the ecosystem also saw several new developments such as divergent funds on-chain, RLUSD expansion, and advancement in institutional business. The market is also paying attention to the procedural vote on the CLARITY bill that is about to take place in the U.S. Senate.
On-chain funds are showing divergence.
On-chain data shows that the trading directions of retail investors and large position holders continue to diverge. The text mentions that there was a wave of retail selling around $1.3459, while larger wallets increased their holdings at that level. A similar situation occurred before XRP rose to $1.68 in August.
This type of data reflects that current XRP transactions are not solely driven by retail sentiment; the participation of institutions and large accounts is on the rise.
RLUSD Supply Continues to Expand
The total supply of the stablecoin RLUSD under Ripple has risen to approximately $2.42 billion, representing a growth of over 50% in the past 30 days. Of this, the supply on the Ethereum network is about $1.37 billion, while on XRP Ledger it is around $1.05 billion.
At the same time, German logistics and manufacturing company TRATON has integrated with Ripple's financial management infrastructure, allowing them to use XRP and RLUSD on the same platform. According to the article, RLUSD can be used to complete cross-border transfers more quickly, which can then be exchanged for local currency; XRP is incorporated into the company's financial management system for real-time valuation and audit records.
Institutional business continues to advance.
The article also mentions that a tokenized fund based on a public blockchain has been approved by European regulatory authorities. Its operational structure includes Bank of New York Mellon responsible for the custody of underlying assets, Komainu responsible for the custody of digital assets, and Licuido providing the tokenization infrastructure. The fund continues to adopt the investment objectives, risk characteristics, and regulatory protections of traditional share classes.
At the product level, Ripple, the product leader Jazzi Cooper, stated that institutional credit is still an underdeveloped area in blockchain finance and could become the next application direction for XRP. The lending protocol of XRP Ledger currently supports fixed-term loans, with funds coming from a single-asset treasury. Borrower reviews are completed offline, while the lending process runs on XRPL. Relevant updates are expected to be launched with XRPL version 3.4.0 next week.
The market is watching the voting on the US bill.
In addition to ecological progress, policy factors have also become an important variable in this week's XRP trading. Reports mention that the leader of the majority party in the U.S. Senate, John Thune, is pushing Democrats to support the CLARITY bill to proceed to a procedural vote on Tuesday, with further negotiations on the subsequent provisions still possible.
Market commentators believe that this cloture vote is the closest the encryption legislation has ever been to overcoming this procedural hurdle. If the voting progresses smoothly, it could further boost market expectations for clearer regulation of cryptocurrencies in the United States.
In addition, Ripple has recently been expanding its team and has arranged for its person in charge of Middle East and Africa policy, Abdallah Mukalled, to attend the Dubai Middle East Stablecoin Forum on September 17th, indicating that the company is still continuing to advance its global market strategy.
