XRP (XRP) — Onchain News & Whale Tracking

XRP treasury firm Evernorth Holdings plans to issue $30 million in convertible notes, with uses including increasing its XRP holdings and other purposes.

US-listed XRP treasury firm Evernorth Holdings has filed an 8-K with the U.S. Securities and Exchange Commission (SEC). The company signed a subscription agreement with a trust under South Korea’s NH Investment & Securities, planning to issue $30 million in convertible senior PIK (payment-in-kind) notes carrying a 4% annual interest rate and maturing in 2031. The notes will only take effect upon the completion of Evernorth’s merger with SPAC Armada Acquisition Corp. II, a transaction expected to close in the fourth quarter of 2026. Proceeds from the offering will be used to purchase XRP and engage in XRP ecosystem-related operations.

Ripple advances quantum-resistant upgrade plans: XRP Ledger launches four-phase migration plan to guard against the 'Q-Day' threat

Ripple is proactively deploying quantum-resistant capabilities for the XRP Ledger (XRPL) to address the risk that future quantum computers could crack existing blockchain cryptography and steal digital asset private keys. Ayo Akinyele, Ripple’s senior director of engineering, said the goal is not to wait until quantum computing becomes an imminent threat to act, but to ensure critical financial infrastructure is upgraded before the threat arrives. Ripple has mapped out a four-phase plan for XRPL: assessing the network’s potential exposure points, testing quantum-resistant cryptographic algorithms, running existing and quantum-secure mechanisms in parallel, and finally driving the network’s full migration. An emergency response plan will also be activated if quantum computing advances faster than expected. XRPL currently supports replacing account control keys without changing the account, which is expected to reduce future migration difficulties, though large-scale protocol upgrades still require coordination among network validators. Meanwhile, artificial intelligence (AI) is accelerating cryptography research. Reports noted that last month, an Anthropic model cut the computational effort needed to crack a leading post-quantum signature candidate by around 67 million times, further highlighting the necessity of pre-upgrading financial infrastructure. Bitcoin and Ethereum developers also unveiled their respective quantum-resistant migration plans this week. Ripple holds that while AI and quantum computing are separate technologies, both are driving financial infrastructure toward stronger security, more flexible upgrade mechanisms, and round-the-clock automated payment systems.

XRP treasury firm Evernorth has received SEC confirmation of its registration effectiveness, and plans to list on Nasdaq via a SPAC merger.

XRP treasury firm Evernorth Holdings announced that its S-4 registration statement filed with the U.S. Securities and Exchange Commission (SEC) has taken effect, advancing plans to list on Nasdaq via a merger with special purpose acquisition company (SPAC) Armada Acquisition Corp. II. The registration’s effectiveness does not signify the merger is finalized; the transaction still requires shareholder approval. Evernorth intends to operate as a regulated digital asset treasury firm, providing public market investors with exposure to XRP, and will allocate capital to XRP-related infrastructure and treasury strategies to increase the amount of XRP per share. The company expects the merger to close by the end of this third quarter or early fourth quarter, with the combined entity set to trade under the ticker symbol “XRPN” post-transaction. The S-4 filing covers up to 34,499,992 Class A common shares of Evernorth and 11,499,992 related warrants. Evernorth’s investors include Ripple, Arrington Capital, SBI Group, Pantera Capital, Kraken, and GSR, among others.

CryptoQuant: Binance's XRP leverage ratio rises to over 7-month high.

CryptoQuant analyst ArabxChain stated that Binance’s estimated leverage ratio for XRP has risen to its highest level in over seven months. Data shows the metric is currently around 0.213, the highest since January this year. Analysts believe that if the leverage ratio increases alongside XRP’s price gains and growing open interest, this may reflect rising trader confidence and continuous new position building, thereby supporting a subsequent upward trend. However, higher leverage also means the market is more sensitive to price volatility, so potential cascading liquidation risks need to be guarded against.

Cash App expands crypto asset support via MoonPay, adding ETH, SOL, XRP and USDT.

Block’s payment application Cash App is expanding its cryptocurrency asset support beyond Bitcoin and USDC for the first time through an integration with crypto payment platform MoonPay. Eligible Cash App users in the U.S. can now use their Cash App balance to purchase a range of digital assets including Ethereum (ETH), Solana (SOL), XRP, and USDT via MoonPay, and also top up wallets such as Ledger, BitPay, Trust Wallet, MetaMask, and Uniswap with their Cash App balance. Cash App has over 50 million users; it previously primarily supported Bitcoin transactions, adding USDC support earlier this year. The partnership with MoonPay means Block can meet user demand for more crypto assets without building its own multi-digital-asset transaction infrastructure. Morgan Kuntze, Block’s Head of Global Partnerships, noted that while Bitcoin remains the core of the company’s digital asset strategy, it aims to offer users more choices and payment flexibility.

Coreum cross-chain bridge hacked, nearly 200,000 XRP stolen.

The cross-chain bridge connecting the XRP Ledger and Coreum was hacked on August 9, with attackers exploiting a vulnerability to steal approximately 199,916 XRP, reducing the bridge’s asset balance from roughly 200,410 XRP to just 493.5 XRP. Analysis indicates the attack targeted neither the XRP Ledger itself nor involved any private key leaks, instead exploiting a flaw in the Coreum cross-chain bridge’s validation logic. The attackers forged fake deposit operations, tricking the bridge system into recognizing them as legitimate deposits, which triggered the other end of the bridge wallet to send actual XRP to the attackers. On-chain data shows the attackers completed the fund transfer in 97 minutes via 94 multi-sig authorization transactions. These transactions required 17 out of 28 relay node keys to sign off, meaning the attackers successfully bypassed the bridge system’s validation mechanism. As of August 11, the Coreum cross-chain bridge remains suspended, and the Coreum Development Foundation has not yet released an official incident report. The incident affected third-party cross-chain infrastructure, not a vulnerability in the XRP Ledger protocol layer, and the security of the XRP mainnet and user private keys was not compromised.

The XRP Ledger plans to launch a privacy transfer feature, targeting the institutional tokenized assets market worth over $530 million.

The XRP Ledger (XRPL)’s latest software version 3.3.0 introduces multiple upgrade proposals, including the “Confidential Transfers” feature designed to deliver enhanced privacy protection for institutional users. The feature encrypts token balances and transfer amounts while retaining visibility into accounts and token types, and is primarily targeted at Multi-Purpose Tokens (MPT) on XRPL, with use cases covering tokenized financial assets such as funds and bonds. Using encryption technologies like zero-knowledge proofs, the network can verify transaction validity without disclosing specific amounts. Per CoinDesk, XRPL currently holds around $1.38 billion in on-chain real-world assets (RWA), including approximately $845.7 million in RLUSD. In addition to RLUSD, there are over $530 million in tokenized assets on XRPL, issued by entities including Ondo, VERT Capital, Archax, and Société Générale. Beyond Confidential Transfers, XRPL version 3.3.0 includes five other proposals: Batch, Sponsor, Permission Delegation, Dynamic MPT, etc., addressing institutional needs such as batch transactions, fee sponsorship, permission management, and dynamic adjustment of token attributes. However, these upgrades have not yet been officially launched; they require sustained support of over 80% from XRPL trusted validator nodes for two weeks before activation. The market is watching whether institutions like Aviva and Ondo, which have already issued assets on XRPL, will adopt this privacy feature.

Ripple Makes Strategic Investments in Zilo and Licuido to Accelerate Its Tokenized Capital Market Expansion on the XRPL

Blockchain fintech firm Ripple has announced strategic investments in UK-based asset transfer agent Zilo and Financial Conduct Authority (FCA)-regulated tokenization solution provider Licuido, to advance the adoption of tokenized financial assets on the XRP Ledger (XRPL). Ripple stated that the investments aim to integrate regulated asset transfer agency, asset issuance, and collateral liquidity capabilities into the XRPL infrastructure, addressing idle collateral asset issues in traditional financial markets and enabling tokenized funds to be used as collateral from their launch. Zilo offers global transfer agency and asset solutions for wealth management firms, having raised around $58.7 million in total funding to date. Licuido specializes in institutional asset tokenization services. The specific investment amounts for both companies were not disclosed. This development follows shortly after Aviva Investors launched tokenized U.S. dollar liquidity fund shares on XRPL. Prior to this, Ripple also launched the Ripple Mint platform to help institutions issue, redeem, and manage its U.S. dollar stablecoin, Ripple USD (RLUSD). Data shows that the current tokenized real-world asset (RWA) size on XRPL is approximately $368 million, ranking 11th globally; Ethereum leads with $17.1 billion. Over the past 30 days, the number of RWA holders has risen by 50% to 1.57 million, while total tokenized asset value has increased by 1.5% to $37.3 billion.

Grayscale CEO files to sell GXRP ETF shares, becoming the third insider to cash out

Grayscale CEO Peter Mintzberg has filed Form 144 with the U.S. Securities and Exchange Commission (SEC) to sell 2,611 shares of the Grayscale XRP Trust ETF (ticker: GXRP), with a total value of approximately $53,400, equivalent to $20.45 per share. Earlier, founder Barry Silbert and Chief Legal Officer Craig Salm submitted similar applications in January this year, when the per-share price stood at around $37, meaning Mintzberg’s current selling price is roughly 45% lower. Notably, GXRP’s outstanding share count has plummeted from 5.79 million to 2.84 million over the past six months, a roughly 51% drop, reflecting that redemption pressure has consistently outpaced subscriptions. Currently, the total net assets of U.S. spot XRP ETFs reach approximately $971.6 million, with GXRP accounting for around 6% of the total.

Bitcoin broke through $63,000 this morning, erasing all losses from the end of June, with XRP leading gains among major cryptocurrencies.

Bitcoin rose above $63,000 earlier today for the first time in two weeks, up roughly 3.6% from last week and nearly erasing losses from late June. The rally unfolded during thin trading volume for the U.S. Independence Day holiday, with low liquidity widely seen as amplifying short-term volatility. Among major cryptocurrencies, XRP gained 5.3% to reach $1.18, notching a nearly 10% weekly rise and lifting its market cap to around $73 billion, overtaking USDC to become the fifth-largest crypto asset. On-chain data shows XRP holders’ average losses have hit an extreme historical level, leading some traders to view this as a sentiment reversal signal. Ether (ETH) climbed 3.2% to approximately $1,793, with a weekly gain of ~11.5%; Dogecoin (DOGE) rose 2.6%; Solana (SOL) added around 13.2% week-over-week, extending the broader rebound trend. Analysts attribute the rally to Federal Reserve officials signaling easing inflation pressure, weaker non-farm payroll data, and short covering, with Bitcoin bouncing rapidly from below $60,000 to above $63,000. The market’s future trajectory will hinge on upcoming U.S. inflation data and the return of institutional liquidity after the holiday.

Ripple has launched an XRPL lending protocol, with developers now able to integrate and test it on the testnet.

Ripple has launched the XRPL Lending Protocol, an on-chain credit infrastructure for tokenized assets. The protocol’s core principle is to keep credit assessment off-chain while only standardizing execution processes on-chain. Institutions handle their own underwriting and compliance reviews, with the protocol responsible for standardized execution of liquidity pooling, loan disbursement, repayment, and default handling. The protocol comprises two components: the Single Asset Vault, which manages on-chain pooling of individual assets; and the Lending Protocol, which disburses vault liquidity as loans with clear terms. The two correspond to the XLS-65 and XLS-66 proposals respectively and are pending approval from validator nodes. At the infrastructure level, the protocol supports a subordinated capital mechanism, where pool managers assume risk exposure senior to that of other liquidity providers. Developers can now access and test the protocol on the devnet.

A newly created wallet deposited 630,000 USDC into HyperLiquid and opened a short position of 2.9 million XRP.

According to monitoring by Onchain Lens, a certain address created a new wallet, deposited 630,000 USDC into HyperLiquid, and opened a 10x leveraged short position of 2.9 million XRP.

A crypto whale’s entire long positions in Bitcoin (BTC) and Ripple (XRP) were fully liquidated, resulting in losses of approximately $8.42 million.

Per Lookonchain monitoring, a whale with an address starting with 0xf79C had all its long positions liquidated: 809.9 BTC (worth around $47.68 million) and 27.92 million XRP (valued at approximately $28.45 million), incurring losses of roughly $8.42 million.

XRPL Developer Security Alert: XRP Community Must Beware of Scam Activities Involving Fake Wallets and Airdrops

May 25 — XRPL developer Wietse Wind has issued the latest security warning to the XRP community, noting that scams targeting XUMM Wallet users have been surging recently. Scammers are currently pushing fake desktop wallet applications and running phony airdrop campaigns to trick users into connecting their wallets or downloading malicious software to siphon off their funds. Wind’s key reminder to users: Never connect your wallet to untrustworthy websites, and steer clear of downloading any unofficial applications — this is crucial to protecting your assets from being lost.

Goldman Sachs Q1 Report: Liquidates XRP, SOL ETF, Contrarian Increase in Crypto Stocks

May 18th, Goldman Sachs’ Q1 2026 13F filing with the U.S. Securities and Exchange Commission (SEC) shows the Wall Street giant sharply scaled back its crypto-related ETF holdings this quarter. The firm fully liquidated all its positions in XRP-linked ETFs, plus every Solana ETF it held from issuers including Grayscale, Bitwise, and Fidelity. For Bitcoin ETFs, Goldman still holds roughly $690 million in BlackRock’s IBIT and about $25 million in Fidelity’s FBTC—but both stakes dropped by around 10% compared to the prior quarter. Ethereum ETF exposures saw a far deeper cut: the firm slashed its holding in iShares’ Ethereum ETF (ETHA) by roughly 70%, leaving just $114 million in that position. Looking at individual crypto and fintech stocks, Goldman increased its stakes in Circle, Galaxy Digital, Coinbase, Robinhood, and PayPal during the first quarter, while trimming positions in names like Strategy and Riot Platforms.

Moscow Exchange to Launch SOL, XRP, and TRX New Settlement Futures Trading on May 14

MOSCOW EXCHANGE ANNOUNCES NEW CRYPTO INDEX FUTURES, CRYPTO INDEX CALCULATIONS The Moscow Exchange said Wednesday (May 9) it will launch deliverable futures contracts tied to indexes of three cryptocurrencies — SOL, XRP and TRX — on May 14. Participation is limited to eligible investors, with settlements in Russian rubles and no physical delivery of the underlying digital assets. Separately, the exchange will start calculating and publishing indexes for four cryptos — adding BNB to the list — on May 13.

Russia's largest stock exchange will launch cryptocurrency indexes for SOL, XRP, TRX, and BNB

May 5 — The Moscow Exchange will launch four cryptocurrency indexes tracking SOL, XRP, TRX and BNB starting May 13, according to official sources. Pricing data for the indexes will come from Binance (50%), Bybit (20%), OKX (15%) and Bitget (15%). Existing MOEXBTC and MOEXETH indexes will also be updated every 15 seconds during trading hours. The exchange plans to expand its crypto benchmark indexes to 10 total, with all these tools restricted to professional investors only.

Ripple Releases XRPL Quantum Roadmap, Aiming for Full Transition by 2028

On April 21, Ripple unveiled its XRPL Quantum-Secure Roadmap—an initiative to fortify the XRP Ledger (XRPL) against future quantum threats, with full readiness targeted by 2028. The roadmap outlines four key stages: 1. **Post-Quantum Recovery (Q-Day Preparedness)**: Focuses on establishing contingency plans to safeguard funds if classical cryptographic standards are decrypted. 2. **H1 2026**: Proactive planning and testing to assess quantum risks, plus collaboration with Project Eleven to validate NIST-recommended algorithms. 3. **H2 2026**: Integration of post-quantum signature schemes into Devnet, alongside exploration of privacy primitives. 4. **2028 Target**: Propose ecosystem amendments to enable a full transition to native post-quantum cryptography. Ripple noted that XRPL’s built-in key rotation and seed-derived key generation capabilities already lay the groundwork for this migration—positioning it with a protocol edge over networks like Ethereum when addressing qu

Ripple Unveils Quantum Resistance Roadmap, Aiming to Make XRP Ledger Quantum-Secure by 2028

April 21 — Ripple has officially unveiled its quantum resistance roadmap for the XRP Ledger (XRPL), targeting full quantum security for the network by 2028. The plan is primarily designed to counter the “Harvest Now, Decrypt Later” attack vector—where an adversary collects encrypted data today and decrypts it later using quantum computers. The roadmap unfolds in four phases: ### Phase 1: Q-Day Contingency Planning (In Progress) Establish a Quantum Day (Q-Day) contingency response framework. If existing classical encryption is suddenly compromised, the network will immediately stop accepting traditional public-key signatures, forcing a shift to quantum-secure accounts. Concurrently, explore asset ownership verification via post-quantum zero-knowledge (ZK) proofs—enabling existing holders to recover funds securely in emergencies without exposing vulnerable keys. ### Phase 2: Risk Assessment & Algorithm Testing (H1 2026) Conduct a full assessment of post-quantum cryptography’s imp

XRP Ledger Privacy Solution: Boundless Completes First Native ZK Validator Deployment on XRPL

April 15 — Boundless and XRPL Commons announced the successful completion of the first native deployment of a zero-knowledge (ZK) validator on the XRPL network. The RISC-V-powered validator now operates directly on the chain, making XRPL the first public blockchain to offer programmable privacy as a ledger-native feature with built-in compliance controls. Per the announcement, the two organizations spent six months on the integration and jointly developed the Smart Escrow transaction type, complete with programmable release conditions. Developer toolkits and testnet environments are now available. Smart Escrow is slated to launch in Q2 2026 and will require a valid ZK proof to transfer funds. Smart Vault will follow, adding pre-settlement KYC checks and sanctions screening for every transaction, plus supporting limited disclosure to regulatory bodies. “XRPL was built from the start for institutional finance,” said Odelia Torteman, Head of Enterprise Adoption at XRPL Commons. “By

SBI Ripple Asia Completes Development of Token Issuance Platform on XRP Ledger

On April 8, SBI Ripple Asia completed development of an XRP Ledger-based token issuance platform and registered as a prepaid payment instrument provider in Japan. Corporate users can now issue tokenized payment instruments through this platform.

XRP Treasury Company Evernorth Submits S-4 Filing, Aims to Raise $1 Billion through SPAC Merger for Public Listing

March 19th, per The Block: Ripple-backed crypto firm Evernorth has filed an S-4 registration statement with the U.S. SEC to advance a business combination with Armada Acquisition Corp. II, a SPAC backed by Arrington Capital. Upon closing the merger, Evernorth aims to become a publicly traded XRP treasury company on Nasdaq under the ticker XRPN. Evernorth plans to raise over $1 billion through the transaction—primarily for open-market XRP purchases and building a leading global institutional-grade XRP treasury. Unlike passive crypto funds or ETPs, it will focus on long-term XRP holding growth via lending, liquidity provision, and DeFi yield strategies. The firm also intends to operate XRP validator nodes and integrate Ripple’s RLUSD stablecoin into the DeFi ecosystem. Investors include Japan’s SBI Holdings (committing $200 million), Ripple, Pantera Capital, Kraken, GSR, and Ripple co-founder Chris Larsen. Ripple CEO Brad Garlinghouse and other executives will serve as strategic ad

XRP HODL Wallets Reach All-Time High, Surpass $1.60 Key Resistance

**March 17 Update: XRP-holding Addresses Hit Record 7.7M+** On-chain data shows XRP-holding addresses topped 7.7 million for the first time Wednesday (March 17), marking a new all-time high—reflecting sustained growth in network usage and investor accumulation. Analytics firm Santiment notes the XRP Ledger’s daily active addresses rose to 46,767, a five-week high, while the count of non-zero XRP wallets hit 7.7 million. This signals ongoing accumulation amid the token’s recent pullback. As for price, XRP trades around $1.50 as of Wednesday, up ~3% over the past 24 hours. Analysts say a successful bullish break above $1.60 (turning the level into support) could push the token toward the $2 region.

Crypto Market Heats Up, Upbit's Daily Trading Volume Surges 80%, XRP Still Favorite Among South Korean Investors

March 17 — As the crypto market rebounds, South Korean investors are shifting from stocks to crypto. According to CoinGecko data, Upbit — South Korea’s largest crypto centralized exchange (CEX) — recorded a 24-hour trading volume of $25.43 billion, a daily surge of 81.7%. XRP remains Upbit’s most active trading pair, accounting for 18.07% of total volume. The token has also outperformed typical altcoins recently, posting an 11% weekly gain.

Goldman Sachs Emerges as Top XRP Spot ETF Holder, Analyst Says Large Number of "Superfans" Investors Still Undisclosed

On March 11, Bloomberg Intelligence analyst James Seyffart said that because most investors aren’t required to file 13F forms, publicly disclosed holdings of spot XRP ETFs only represent a “small portion” of the market right now. Data shows that as of the end of 2025, the top 30 holders of spot XRP ETFs collectively held roughly $2.11 billion in shares. Goldman Sachs led the group with around $1.54 billion in holdings. Seyffart also noted that cumulative inflows into spot XRP ETFs topped $1 billion as of the end of 2025, while the fund’s assets under management (AUM) stood at approximately $14.4 billion as of last week. Fellow Bloomberg Intelligence analyst Eric Balchunas added that these investors are likely mostly “super fans” from the XRP community, not retail investors. Several firms have launched spot XRP ETF products, including 21Shares, Bitwise Asset Management, and Franklin Templeton. 21Shares’ spot XRP ETF has become its most popular altcoin fund. Meanwhile, Ripple CE

XRP Records Largest Realized Loss Since November 2022, Weekly Realized Loss Reaches $1.93 Billion

On February 22nd, Santiment data shows XRP just logged its largest realized loss since November 2022—$1.93 billion in weekly realized losses—signaling a concentrated panic sell-off by holders. BlockBeats Note: A realized loss occurs when an investor sells an asset for less than their purchase price, locking in actual losses. Unrealized losses, by contrast, are paper losses that aren’t realized (since the asset hasn’t been sold) and aren’t counted in such data. On-chain data shows a sharp jump in realized losses typically signals many holders are selling at a loss—reflecting widespread stop-loss triggers or "surrender selling"—and often coincides with a notable drop in market sentiment.

French Banking Group Expands Its Euro Stablecoin EURCB to XRP Ledger

On February 19, Cointelegraph reported that Societe Generale’s digital asset arm SG-FORGE has expanded its euro-backed stablecoin EUR CoinVertible (EURCV) to the XRP Ledger—marking the third blockchain deployment for the token after Ethereum and Solana. This rollout taps Ripple’s custodial infrastructure and could be integrated into Ripple’s products as transaction collateral. Backed 1:1 by bank cash deposits or high-quality securities, EURCV has a circulating supply of roughly 70.51 million tokens. It aims to boost institutional access to euro-backed stablecoins and comply with the EU’s MiCA regulation. The move follows SWIFT’s pilot testing of EURCV for tokenized bond exchange and settlement, part of broader efforts to advance euro stablecoin development and push back against U.S. dollar dominance.

Coinbase to Add XRP, DOGE, ADA, and LTC to On-Chain Lending Collateral Options through Morpho

On February 19th, Coinbase announced its on-chain staking loan product (offered via Morpho) has added XRP, DOGE, ADA, and LTC as collateral options. U.S. users in compliance can borrow up to 100,000 USDC without selling their holdings. The product operates on the Base network, with the four new assets carrying a maximum loan-to-value (LTV) ratio of 49% and a liquidation threshold of 62.5%. (Source: The Block)

Standard Chartered Bank Significantly Lowers XRP Year-End Price Target, Bitcoin Price Target Lowered to $100,000

February 16 — Standard Chartered Bank analysts on Thursday revised their cryptocurrency outlook, slashing year-end price targets for several major tokens after a brutal sell-off in the market this February. The bank cut its 2026 year-end target for XRP by 65%: from a prior forecast of $8 to $2.8. It also reduced targets for other top cryptocurrencies: Bitcoin from $150,000 to $100,000, Ethereum from $7,000 to $4,000, and Solana from $250 to $135.

UAE Digital Bank Zand Expands Ripple Partnership to Explore Issuance of AEDZ on the XRPL

February 15 — Per The Fintech Times, UAE digital bank Zand has expanded its partnership with Ripple. Specific moves include: supporting RLUSD in Zand’s regulated digital asset custody service; exploring a regulated Dirham stablecoin (AEDZ) and RLUSD direct liquidity solution; and exploring AEDZ issuance on the XRPL.

XRP, BTC, and BERA Leading Upbit's 24-Hour Trading Volume Ranking

On February 13, CoinGecko data shows Upbit’s trading volume has dropped 2% over the past 24 hours, currently at $18.33 billion. The XRP/KRW trading pair leads the Korean won market with 10.27% of total volume. The other top five trading pairs are BTC, BERA, ME, and ETH.

Goldman Sachs Trims Nearly 40% of Bitcoin ETF Holdings in Q4, Ups XRP and Solana ETF Holdings

February 11 — Goldman Sachs sharply cut its holdings of spot Bitcoin and Ethereum ETFs in Q4 2025, per the latest 13F filing with the U.S. Securities and Exchange Commission (SEC). As of Dec. 31, 2025, the firm held ~21.2 million spot Bitcoin ETF shares, worth ~$1.06 billion — a 39.4% drop from its Q3 2025 stake. For spot Ethereum ETFs, it held 40.7 million shares (valued at ~$1 billion), down 27.2% from the prior quarter. During the quarter, Goldman launched new positions in spot XRP and Solana ETFs, holding ~$152.2 million in XRP ETFs and ~$108.9 million in Solana ETFs. The moves came amid a broader crypto market slump in Q4 2025. Bitcoin’s price fell from ~$114,000 at end-September 2025 to ~$88,400 by year-end; Ethereum dropped from $4,140 to $2,970. Spot Bitcoin ETFs saw net outflows of $1.15 billion in the quarter, while spot Ethereum ETFs recorded net outflows of $1.46 billion.

Goldman Sachs Discloses $23.6 Billion Crypto Exposure, Including BTC, ETH, XRP, and SOL

**Crypto reporter Eleanor Terrett reported on February 11 that Goldman Sachs’ 2025 Q4 13F filing reveals the Wall Street giant holds $1.1 billion in BTC, $1 billion in ETH, $153 million in XRP, and $108 million in SOL.** Total crypto exposure: ~$2.36 billion, accounting for 0.33% of Goldman’s overall investment portfolio. Key caveat: These aren’t direct purchases by the bank—they’re held indirectly through approved ETFs, in compliance with institutional regulations. Latest updates: - Goldman Sachs sent representatives to the White House today for a meeting on stablecoin yields. - CEO David Solomon is scheduled to speak at the WLFI Forum in Palm Beach next week.

Current mainstream CEX, DEX funding rate indicates an overall bearish market, with stronger bearish sentiment on SOL and XRP than BTC

On February 10, Coinglass data showed Bitcoin dropped below $69,000. Funding rate metrics reveal the market remains broadly bearish: BTC and ETH funding rates are negative across multiple exchanges, meaning shorts are paying longs to maintain their positions. Bearish sentiment toward major altcoins SOL and XRP is stronger than toward Bitcoin. BlockBeats Note: A funding rate is a fee set by crypto exchanges to align perpetual contract prices with the underlying asset’s spot price. It facilitates fund transfers between long and short traders—exchanges do not collect this fee. The mechanism adjusts the cost or profit of traders holding contracts to keep contract prices close to the underlying asset’s price. **Funding Rate Baselines**: - 0.01% = baseline rate - Above 0.01% = generally bullish market - Below 0.005% = generally bearish market

Binance will list ASTER/U, PAXG/USD1, SUI/U, and XRP/U trading pairs

Per an official announcement dated February 9, Binance is set to launch trading for the ASTER/U, PAXG/USD1, SUI/U, and XRP/U trading pairs at 08:30 UTC on February 10, 2026.

Japanese financial group SBI to Launch BTC and XRP Dual Asset Combination Crypto ETF

January 26 — Japanese financial firm SBI Holdings has filed an application to launch a dual-asset crypto ETF, combining BTC and XRP into a single regulated product.

A whale going short with 20x leverage on 2,735,000 XRP, with an average entry price of $1.95

January 22 — Per monitoring from HyperInsight (via its Telegram channel @HyperInsight), a whale opened a short position of 2,735,000 XRP with 20x leverage at 15:44, with an average entry price of $1.95. The whale is currently slightly in profit, though the account shows a total unrealized loss of $182,000.

"The 20M Bandit" Adds to ETH, XRP, and XMR Short Positions, Account Sees Unrealized Gain of $12.33M

XRP to Become Upbit's Top Trading Volume Cryptocurrency in 2025

Jan. 16 — Upbit, South Korea’s largest cryptocurrency exchange, announced that XRP had emerged as the platform’s top-traded digital asset by 2025, with total trading volume topping $1 trillion and outpacing that of leading coins including Bitcoin.

XRP, HYPER, AKT Temporarily Top Upbit's 24-Hour Trading Volume Ranking

As of January 11, CoinGecko data shows Upbit’s 24-hour trading volume currently stands at $750 million. Among its pairs, the XRP/KRW trading pair accounts for 6.13% of total volume, leading the Korean won-denominated market. The next four top pairs in the won market are HYPER, AKT, BOUNTY, and DEEP.

The XRP Spot ETF has attracted over $1 billion in assets under management. Some institutional investors still remain skeptical and consider it a meme coin.

January 10 As of January 10, the XRP spot ETF has drawn over $1 billion in inflows since its launch in November 2025—but some analysts warn the current enthusiasm may not last. Brian Huang, co-founder of investment platform Glider, noted: “The core of investing boils down to growth potential and which builders are building on the blockchain. When we look at the builders a16z is betting on, XRP doesn’t even crack the list.” Huang’s skepticism stems from a lack of builders in XRP’s ecosystem. “Builders creating infrastructure and apps drive ecosystem growth and boost the value of the underlying token,” he explained. “Without builders, XRP’s growth will be extremely limited. Most big institutions don’t even view Ripple-linked XRP as a serious project—and the institutional investors who hold most crypto ETFs may be reluctant to add XRP, since they see it as a meme coin.”

Flare Launches First XRP Spot Market on Hyperliquid, Introduces FXRP/USDC Trading Pair

On January 8, Flare launched the first XRP spot market on Hyperledger, listing FXRP and opening the FXRP/USDC trading pair to enable XRP spot trading on the network’s order book. FXRP is built on Flare’s FAssets system and issued per the LayerZero cross-chain standard, allowing it to bridge back to the XRP Ledger after trading on Hyperledger. Flare noted the move maintains decentralized custody, positions the XRP Ledger as the ultimate settlement layer, expands XRP’s utility in decentralized finance (DeFi), and provides XRP holders with deeper on-chain spot liquidity. (CoinDesk)

WisdomTree Withdraws its Spot XRP ETF S-1 Registration Statement

January 7: WisdomTree Withdraws Its Spot XRP ETF S-1 Registration

XRP Surges Past $2.4, Up 12.7% in 24 Hours

On January 6, XRP topped $2.4—climbing 12.7% over the past 24 hours—to hit its highest price since mid-November 2025, per HTX market data.

IP, XRP, and AERGO temporarily lead the Upbit 24-hour trading volume rankings

Jan 2nd — CoinGecko data shows Upbit’s 24-hour trading volume rose 6.4% to $8.894 billion. The IP/KRW trading pair leads the KRW-based market with a 16.09% volume share, followed by four tokens: XRP, AERGO, BTC, and USDT.

ZBT, BTC, XRP Temporarily Lead Upbit's 24-Hour Trading Volume Rankings

On December 30, CoinGecko data shows Upbit’s trading volume surged 104.2% over the past 24 hours, totaling $14.18 billion. The ZBT/KRW trading pair led the KRW market with an 11.11% share of the exchange’s volume, followed by BTC, XRP, ETH and USDT.

ZKP, BTC, XRP Ranked Top 3 in Upbit's 24h Trading Volume Leaderboard

On December 27th, per CoinGecko data, Upbit’s 24-hour trading volume fell 35.3% to $9.28 billion. The ZKP/KRW trading pair topped the Korean won market with an 11.38% share of total volume, followed by BTC, XRP, AVNT, and ETH.

XRP, 0G, and BTC Temporarily Top Upbit's 24-Hour Trading Volume Rankings

Per CoinGecko data as of December 26, Upbit’s trading volume surged 28.2% over the past 24 hours to $13.39 billion. Of that total, the XRP/KRW trading pair accounted for 10.38% of volume, topping the Korean won trading pair rankings. The next four tokens in the top ranks are 0G, BTC, ZKP, and CPOOL.

Ripple Executive-Backed XRP Treasury Entity Evernorth Faces Unrealized Loss of Over $220 Million

On December 25th, Evernorth Holdings—an XRP-focused treasury entity backed by Ripple executives—was facing an unrealized (paper) loss of over $220 million. Data from CryptoQuant shows the firm holds approximately 389 million XRP with an acquisition cost of roughly $947 million. Based on XRP’s current price of $1.86, the value of its holdings totals around $724 million, translating to a substantial unrealized loss for the company.

Franklin XRP Spot ETF AUM Surpasses 100 Million Coins for the First Time

Franklin Templeton announced on December 23 that it has updated holding data for its XRP spot exchange-traded fund (ETF). As of December 22, the ETF’s XRP holdings exceeded 100 million for the first time, totaling 101,552,283.62 XRP. The value of these holdings stood at $192,683,271.89. Additionally, the ETF’s total net asset value (NAV) is $183.41 million, with 8.9 million shares currently in circulation.