Exchange Balances Fall While Transfers Climb

At the start of the week, XRP Ledger saw significant activity. Transfers valued at $100,000 or more rose from 2,170 on Monday to 2,802 on Tuesday, marking a three-month high. This indicates active positioning by large investors and a potential for short-term price volatility. Analysts note that declining exchange balances reflect self-custody rather than panic selling.

According to Santiment, daily whale transfers are increasing noticeably. Separate data from CryptoOnchain show Binance’s XRP reserves fell to about 2.6 billion tokens, the lowest level since January 2024. Since late 2025, balances dropped from roughly 3.25 billion Ripple, usually reflecting holders moving coins off-exchange rather than preparing to sell.

Price Action and Technical Outlook

XRP was trading around $2.13 at the time of writing. The token briefly touched $2.40 earlier in the week before general market softening pushed it lower. Still, XRP is up about 16% over the past seven days and 14% in the last two weeks. Analysts highlight support near $2.27 as critical. Technical patterns in the XRP/BTC pairing suggest a relative strength setup unseen since 2018.

What It Means

Short-term price swings are likely, but rising whale transfers and falling exchange balances indicate positioning rather than panic. These dynamics suggest XRP may be preparing for wider price movements in the days ahead.

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The broader setup indicates that market participants are gradually shifting from short-term trading behavior toward longer-term positioning, a dynamic that often precedes more decisive price trends.

XRP Breaks Above Key Resistance Levels

XRP recently managed to push above the $2.12 level, an area that had acted as a stubborn resistance zone. What makes this move particularly noteworthy is that it occurred alongside above-average trading volume, signaling stronger conviction from buyers rather than a low-liquidity spike.

Volume-backed breakouts are typically viewed as more sustainable, especially when supported by broader market participation. While short-term volatility remains possible, the structure of the move suggests buyers are increasingly willing to defend higher price levels.

Exchange Balances Near Multi-Year Lows

On-chain data shows that XRP balances on exchanges have fallen to levels not seen in several years. This trend is commonly described as a form of “supply tightening.” Although reduced exchange supply does not automatically lead to price appreciation, it can significantly amplify rallies when demand begins to strengthen.

Despite ongoing fluctuations in the spot market, the continued outflow of XRP from exchanges implies that investors may be opting to hold their tokens off-platform, potentially signaling confidence in longer-term value rather than short-term speculation.

Steady Institutional Demand via Spot XRP ETFs

Institutional interest in regulated XRP exposure remains constructive. U.S.-listed spot XRP exchange-traded funds recorded approximately $13.59 million in net inflows earlier in the week. Importantly, these inflows appear consistent rather than driven by one-off headlines.

Such steady accumulation helps absorb available supply during periods of sideways price action, laying the groundwork for healthier breakout attempts when momentum builds.

Network Activity Adds Fundamental Support

Beyond price and supply dynamics, activity on the XRP Ledger is also showing signs of improvement. Daily transaction counts have climbed back toward the 1 million mark, reinforcing the idea that usage is increasing alongside market interest.

This combination of rising network activity and price strength suggests that demand is not purely speculative. Following the recent advance, XRP’s market capitalization has reached approximately $121.7 billion, reflecting broad-based participation.

Overall, the convergence of declining exchange supply, consistent institutional inflows, and improving network fundamentals positions XRP in a setting where upward volatility could become more pronounced in the periods ahead.

What is Ripple (XRP)?

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What Is Ripple USD (RLUSD)?

Ripple USD (RLUSD) is a stablecoin developed by Ripple and issued through its subsidiary, Standard Custody & Trust Company, LLC (SCTC). It serves as a secure and regulated bridge between traditional financial systems and innovative Web3 technologies. With its stable value and programmable structure, RLUSD enables developers to seamlessly integrate Web3 payment solutions, connecting conventional finance with decentralized applications.

SCTC, a limited-purpose trust company licensed by the New York Department of Financial Services (NYDFS), issues RLUSD under its NYDFS charter and complies with stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements of New York banking laws.

Advantages of Ripple USD

RLUSD combines stability and transparency to offer a range of benefits for both individual users and institutions:

• Near Real-Time Transactions: RLUSD enables fast, low-cost global payments that settle in seconds on the XRP Ledger and Ethereum blockchains, with no need for a bank account.

• Global Stablecoin Settlement: RLUSD can serve as a core trading pair for other crypto assets, an on/off-ramp for bringing fiat onchain, and a settlement asset for derivatives markets.

• Compliant Crypto Transactions: Supports merchant and vendor payouts, fiat-to-RLUSD on/off-ramps, and global settlement for foreign exchange markets.

• Programmable Finance: Enhances efficiency and accessibility for financial use cases like purchasing, on-ramping, and trading.

• Multi-Chain Issuance: Issued on both XRP Ledger and Ethereum, it provides access to multiple ecosystems.

With over a decade of experience at the intersection of crypto and finance, Ripple collaborates with regulators and policymakers worldwide, positioning RLUSD as the first enterprise-ready stablecoin with a focus on regulatory compliance and transparency.

Reserves and Attestation Reports

RLUSD ensures reliability and transparency through fully backed reserves, consisting of US dollars and low-risk investment assets held securely at reputable US financial institutions. These reserves are meticulously audited monthly by a leading accounting firm, with attestation reports verifying their accuracy and proper management. This process guarantees the stablecoin’s consistent value and trustworthiness.

How to Access Ripple USD?

RLUSD offers accessible infrastructure for developers, businesses, and institutions:

• Developers: Can integrate RLUSD into applications on the Ethereum and XRP Ledger blockchains.

• Businesses and Institutions: Can onboard with SCTC to purchase RLUSD directly.

Crypto Wallets

RLUSD can be stored, managed, and transacted using hardware, software, or web-based crypto wallets, secured with private and public keys. Various wallets and digital asset platforms support RLUSD.

Ripple Custody

Ripple Custody is an advanced digital asset management platform designed for enterprise businesses and institutions, allowing users to manage RLUSD alongside other assets in a single interface.

Technical Structure of Ripple USD

RLUSD on XRP Ledger

On the XRP Ledger, RLUSD utilizes the native “Issued Tokens” functionality. An issuer holds real-world assets as collateral and creates equivalent tokens on the ledger. Users establish a trust line with the issuer to receive, hold, and transfer RLUSD. Transactions are fast and secure, leveraging the efficiency of the XRP Ledger. For more details, refer to the Ripple USD GitHub repository.

Networks: RLUSD is available on the XRP Ledger Mainnet and Testnet networks.

RLUSD on Ethereum

On the Ethereum network, RLUSD is an ERC-20 compliant token, ensuring broad compatibility with wallets, exchanges, and DeFi platforms, enhancing liquidity and security. It incorporates standard OpenZeppelin functions and custom functions developed by Ripple engineers.

Smart Contracts: RLUSD employs the proxy upgrade pattern, separating the token contract’s logic and data:

• ERC-20 Implementation Contract: Contains the core business logic for the RLUSD token and is deployed first on the blockchain.

• Proxy Contract: Acts as an interface to the implementation contract, delegating calls without containing business logic. Developers should use the proxy contract address when interacting with RLUSD. For technical details, see the Ripple USD GitHub repository.

Use Cases for RLUSD

Beta testing has proven RLUSD to be fast, reliable, and cost-effective, making it suitable for various financial applications:

• Cross-Border Payments: RLUSD enables instant, low-cost global money transfers, ideal for the interconnected global economy.

• On/Off-Ramps: Provides a volatility-free solution for traders entering and exiting crypto markets.

• Daily Payments: Described by Ripple Labs as “digital cash,” RLUSD is intended for small, everyday transactions.

• Asset Tokenization: Allows institutions to tokenize real-world assets like Treasuries, commodities, and securities, providing collateral for trading.

• DeFi: With Ethereum integration, RLUSD serves as a trusted stablecoin for decentralized exchange trading pairs or lending protocol collateral.

Who Created Ripple USD (RLUSD)?

RLUSD was created by Ripple in 2024. Founded in 2004 by Jed McCaleb and Chris Larsen, Ripple predates even Bitcoin. In 2012, the company launched the XRP Ledger under the leadership of David Schwartz, Jed McCaleb, and Arthur Britto, initially operating as OpenCoin before rebranding to Ripple Labs.

Ripple collaborates with numerous global financial institutions to facilitate seamless cross-border payments, lending credibility and stability to RLUSD. With over a decade of expertise in integrating blockchain technology into financial services, Ripple positions RLUSD as a leading enterprise-focused stablecoin.

Official Links

• Website
• X (Twitter)
• Whitepaper

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What is the Epic Chain?

Project, formerly known as Ethernity Chain, was initially a digital collectibles marketplace on the Ethereum blockchain. However, it faced a market decline due to high transaction fees, limited throughput, and the proliferation of counterfeit tokens. To address these issues, Epic Chain was redesigned as an Ethereum Layer 2 blockchain tailored for the entertainment industry.

Utilizing Optimism’s open-source op-stack, the platform incorporates AI-driven digital rights management with an AI-powered matching engine to verify token authenticity, ensuring the integrity of its content. It also provides user-friendly token creation tools that require no technical expertise. Backed by Ripple and operating in over 150 countries, Epic Chain is rapidly growing as one of the leading Real World Asset (RWA) ecosystems.

The platform aims to bridge traditional finance and decentralized technology by enabling the tokenization of assets like real estate, commodities, and intellectual property. Fanable, Epic Chain’s flagship consumer RWA product, generates over $1.2 million in annual on-chain fees. By integrating with the XRPLedger EVM sidechain, Epic Chain continues to develop products within the XRP ecosystem, delivering fast, scalable, and globally accessible decentralized finance solutions.

$EPIC Token and Tokenomics

$EPIC is the first bridged and bridgeable ERC20 token on the Epic Chain blockchain, evolved from the ERN token launched on Ethereum in 2021. Used in the platform’s digital collectibles marketplace and DeFi products, it offers the following benefits:

• Gasless Transactions: Most transactions on Epic Chain do not require ETH for fees, thanks to account abstraction.

• DAO: Epic Chain is fully operated by a decentralized autonomous organization (DAO), where $EPIC holders can vote on the blockchain’s development.

• Carbon Footprint Offset: A portion of $EPIC trading volume is dedicated to offsetting carbon emissions from the blockchain’s energy consumption.

The tokenomics distribution is as follows:

• Private Round: 30.67%

• Team 1: 3.33%

• Team 2: 4.33%

• Team 3: 12.33%

• Ecosystem: 6.00%

• Reserve: 15.00%

• Partnerships: 8.00%

• Staking & Rewards: 12.00%

• Public Sale (Polkastarter IDO): 3.33%

• Liquidity: 5.00%

Project’s DeFi protocol allows users to stake $EPIC to earn other ERC20 tokens and “stones,” which can be used to redeem assets within the ecosystem.

EPIC Vesting

What Can Be Done on Epic Chain?

Project offers a range of tools for creators and brands:

• Simplified Token Creation: Creators can use a drag-and-drop web interface to create a currency or social token in minutes, requiring only a Web3 wallet (e.g., Metamask) with some ETH on Epic Chain. Tokens can be stored in a secure founders’ vault, used to create DAO pages, or integrated into e-commerce pages for asset purchases.

• Digital Collectible Creator: Creators can generate non-fungible tokens (NFTs) in minutes, immediately available for sale in Epic Chain’s digital collectibles marketplace, with trading currency sourced from the social token creator.

• Token Gating: Creators can organize digital and physical events accessible via social tokens or digital collectibles.

• Fanable: Epic Chain’s leading RWA product, dominating the consumer goods sector and generating significant on-chain fee revenue.

• RWA Superstructure: Covers major asset classes like real estate, luxury goods, commodities, tokenized bonds, equities, treasury bills, asset-backed securities, and money market funds. Epic Chain transforms these into on-chain primitives for staking, trading, or instant spending.

Technical Infrastructure and Future Developments

Project leverages Optimism’s op-stack, delivering high throughput with 2-second blocks and low gas fees. The span-batch upgrade reduces gas fees by up to 93%, ensuring sustainability even with low transaction volumes. Blockchain components run in docker containers, with hardware (CPU, RAM, storage) and network bandwidth dynamically scalable. The blockchain state is backed up multiple times daily online and offline, allowing restoration within hours if the primary node provider fails. Future enhancements include AI-driven fraud protection, generative AI for content creation, smart contract optimization, and AI-supported technical development.

Epic Chain (EPIC) Exchanges

The $EPIC token is listed on the following exchanges: Binance, Crypto.com, Bybit, KuCoin, Uniswap, Gate.io, HTX, and MEXC. It is also tradable on decentralized exchanges like PancakeSwap.

Epic Chain Investors and Backers

Epic Chain is supported by prominent investors and backers, including GBV Capital, Kenetic Capital, Polygon Studios, Ripple, Spark Digital Capital, Morningstar Ventures, Woodstock Fund, BlackEdge Capital, Algorand Foundation, Steel Perlot, Thomas Vu, and Michael Rubin. Ripple’s backing strengthens Epic Chain’s integration with the XRP ecosystem, positioning it as a leader in RWA-focused innovation.

Epic Chain Team

The Epic Chain team is led by experienced professionals. Founder Nick Rose Ntertsas shapes the platform’s vision, while Chief Financial Officer (CFO) Evangelos Diamantis oversees financial strategies. This team drives Epic Chain’s mission to advance its entertainment and RWA-focused blockchain ecosystem.

Official Links

• Website
• X (Twitter)
• Whitepaper

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Fast and Low-Cost Payments with Blockchain

The Nasdaq-listed distributor (WGRX) announced that its new platform enables independent pharmacies to pay for drug inventory instantly, bypassing banking delays and high credit card fees.

The system is integrated with RxERP, a serialized pharmaceutical e-commerce and enterprise resource planning platform. This ensures real-time tracking, lower costs, and direct settlement between pharmacies and distributors. Pharmacies have already begun registering for the beta version of the program.

Healthcare Payments Integrated with XRP Ledger

The platform is built on the open-source blockchain XRP Ledger (XRPL). Led by Ripple Labs in core development, XRPL powers Wellgistics’ network of more than 6,500 pharmacies and 200 manufacturers.

CEO Brian Norton highlighted that pharmacy owners have shown great interest in the initiative, noting that the healthcare sector is more forward-thinking toward blockchain than many assume.

Compliance, Security, and Future Plans

The program was designed to meet strict compliance standards, including HIPAA and anti-money laundering (AML) requirements. While the first stage focuses on pharmacies, future plans include integrating pharmaceutical manufacturers and testing direct-to-patient delivery models.

Wellgistics also announced on May 8 that it aims to use XRP not only for payments but also as a treasury reserve asset. This initiative is supported by a $50 million credit line, designed to enhance programmable liquidity and financial infrastructure.

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“Digital asset innovation is accelerating, and institutional investors increasingly seek regulated tools to hedge and gain exposure,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME. “Interest in XRP and the XRP Ledger (XRPL) has grown significantly, and these new futures contracts aim to provide a capital-efficient trading solution.”

Strong Demand for Crypto Derivatives

The XRP futures will be cash-settled, priced against the CME CF XRP-Dollar Reference Rate, which is published daily at 4:00 p.m. London time. With this move, XRP joins Bitcoin, Ethereum, and Solana in CME’s expanding crypto product lineup.

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Highlights from CME’s Q1 crypto derivatives performance include:

• 198,000 contracts/day traded on average ($11.3B notional) — up 141% YoY
• 251,000 contracts in open interest on average ($21.8B notional) — up 83%
• Over 43,000 SOL futures ($705M notional) traded since March 17 launch

Robinhood will offer XRP futures to retail users, expanding access beyond institutional traders. Meanwhile, the Teucrium 2x Daily Long XRP ETF (XXRP) hit $35 million in AUM within its first 10 days — showing robust interest in regulated XRP exposure.

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These statements came after the announcement that U.S. President Donald Trump plans to include digital assets like Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA) in the country’s strategic cryptocurrency reserves.

ZachXBT highlighted the absence of stablecoins issued by Circle, Tether, and Paxos in major networks like Cardano and the XRP Ledger. According to him, if these issuers saw a “valuable opportunity” in those networks, they would have integrated their stablecoins into them.

Response from Cardano Foundation

Cardano Foundation CEO Frederik Gregaard stated that stablecoin integration is not the only factor determining a blockchain’s legitimacy. Gregaard emphasized that true legitimacy should rely on factors such as security, decentralization, sustainability, development activities, real-world usage, and community involvement.

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Gregaard noted that Cardano’s long-term goal is to build infrastructure capable of supporting global financial systems. He highlighted that the network is built on technical excellence, security, and scalability. However, he also mentioned that as Cardano’s adoption increases, he expects greater interest from major stablecoin issuers.

Gregaard also pointed out that despite stablecoins like Tether (USDT) and USD Coin (USDC) not being directly issued on Cardano, they can still be used within the ecosystem through the Wanchain Bridge.

Stablecoin Developments on XRP Ledger and Cardano

Although major stablecoin issuers are not directly present on the XRP Ledger and Cardano, both networks have seen stablecoin projects.

The RLUSD stablecoin, developed on the XRP Ledger, started trading on exchanges like Uphold, MoonPay, Archax, and CoinMENA after receiving approval from the New York Department of Financial Services on December 17, 2024. Ripple President Monica Long announced that RLUSD would soon be listed on more exchanges.

On the other hand, in the Cardano ecosystem, the ADA-backed and Shen (SHEN)-collateralized Djed (DJED) stablecoin was launched in 2022. According to CoinGecko data, DJED‘s market capitalization is at 4 million dollars. In 2024, Cardano integrated the fiat-backed USDM stablecoin. The USDM launch on March 18 is seen as a significant step by the community.

These developments show that, although major stablecoin issuers have not yet turned to these networks, stablecoins play an important role in the XRP Ledger and Cardano ecosystems.

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Canary Capital Launches AXL Trust for Institutional Investors, AXL Token Jumps 12.5%

Canary Capital has launched the Canary AXL Trust for institutional investors to gain exposure to Axelar Network’s native token, AXL. This private investment vehicle is designed solely to hold AXL, with Coinbase appointed as the official custodian for the AXL Trust.

The newly launched Canary AXL Trust is available exclusively to accredited investors, providing them with the opportunity to invest in other crypto assets beyond Bitcoin and Ethereum, specifically the AXL token. Additionally, Canary Capital offers digital asset investment strategies and hedge fund solutions for institutional clients.

Immediately following the launch of the Canary AXL Trust, the AXL token saw a 13% increase.

The market capitalization of the AXL token stands at $460 million, with a fully diluted valuation of over $596 million. The circulating supply of AXL is approximately 918 million. AXL is used not only as a governance token but also for paying transaction fees, staking, and earning rewards when delegated to validator staking pools.

Steven McClurg, CEO of Canary Capital, explained that the firm chose AXL as the underlying asset for this trust due to the Axelar network being a driving force behind many of the most advanced interoperability solutions in Web3.

In his statement, McClurg said, “As institutional demand for crypto exposure grows, we remain committed to offering structured, secure, and innovative investment vehicles that align with the future of blockchain adoption.”

Axelar Network Continues to Grow, Canary Capital Launches HBAR Trust

Axelar Network, a cross-chain protocol closely linked to Ripple’s stablecoin RLUSD, serves as a bridge between XRP Ledger and the XRP Ledger Ethereum Virtual Machine. The protocol experienced significant growth in 2024, with a 71% increase in active users and a transaction volume reaching $10 billion.

By early 2025, Axelar became the 11th largest blockchain network by total value locked (TVL), surpassing $1 billion for the first time.

In October 2024, Canary Capital launched the first HBAR Trust in the U.S., based on the native token of the Hedera network, HBAR. This trust provides U.S. investors with a structured way to invest in HBAR.

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Although an official trading date has not been announced yet, fund manager Hashdex mentioned that more information will be provided soon. Hashdex offers a variety of crypto ETFs in Brazil, including Bitcoin, Ethereum, Solana, and funds focused on DeFi, Web3, and the Metaverse.

This development in Brazil parallels the recent approval of XRP ETF filings by the SEC in the United States, with filings from Nasdaq and Cboe BZX exchanges. XRP prices responded by rising 7.8%, reaching $2.72. The coin is currently only 20% away from its all-time high.

Brazilian Bank to Launch Stablecoin on XRPL

Meanwhile, Braza Group, a key player in Brazil’s interbank market, is working on launching a Brazilian real-pegged stablecoin on Ripple‘s blockchain, the XRP Ledger. Marcelo Sacomori, CEO of Braza Group, stated in a February 19 announcement:

“We are committed to offering a stablecoin that not only meets but exceeds the highest security and compliance standards.”

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The stablecoin, named BBRL, will be backed by Braza Bank, a company specializing in foreign exchange services and international payments. While Braza Bank isn’t among the top 10 banks in Brazil by assets and deposits, it claims to be the largest exchange bank in the country.

Launch and Future of the Stablecoin

The BBRL stablecoin is set to launch in the first quarter of 2025 and will initially be available to institutional clients. Sacomori stated:

“By the end of next year, we expect BBRL to capture about 30% of the market in Brazil.”

DREX, a Brazilian central bank blockchain initiative, is also in progress, with Braza Group participating. DREX is working on asset tokenization, cross-border payments, and a potential central bank digital currency (CBDC).

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The XRPL network restarted at 10:58 UTC, after the blocking height stopped at 93.927.174 for 64 minutes. Schwartz explained that the reconciliation process is ongoing on the network, but the verification processes are not published, which has thrown the network out of sync.

Verifiers Forced to Intervene

Schwartz said that verifier operators took manual intervention to get the network back up and running, and that the network was synchronizedby“selecting a valid starting point“. However, he said the exact cause of the problem has not yet been determined and further investigation will be conducted.

RippleX said that user funds were safe during the incident and there were no losses. According to XRPSCAN data, XRPL processes around 2 million transactions daily and it is estimated that around 88,000 transactions were delayed due to this outage.

Decentralization Debates Reignited

The network halt has sparked new discussions about Ripple’s centralization structure. Daniel Keller, CTO of XRPL node operator Eminence, criticized XRPL’s centralized structure, saying , “All 35 nodes have started verifying transactions again.”

While rival blockchains, especially Ethereum, have become increasingly decentralized with more than 1 million active validators, XRPL’s having fewer nodes has raised criticism.

XRP Price Volatility and Ripple’s US Reserve Move

During the blackout, the price of XRP fell as low as $2.45, but then rose 3.2% to $2.53. XRP has gained 396% since Donald Trump won the US election, making it one of the best performing assets in the sector.

This comes as Ripple CEO Brad Garlinghouse continues his efforts to have XRP added to the US strategic reserve assets. David Sacks, the crypto advisor in the Trump administration, is said to be looking into the matter.

XRP Ledger’s recent outage continues to raise questions about how Ripple will deal with criticism over network stability and centralization.

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