XRP: On-chain delivery is happening, custodial accounts are being unlocked
Tonight, XRP was pushed onto the timeline by two opposite-direction pieces of news at the same time.
On one side, a custody and settlement institution in Brazil mirrored the fund shares of BTG Pactual onto the XRP Ledger; on the other, market reports claim that the custodial accounts unlocked 1 billion tokens at once, worth roughly $1.49 billion at current prices. Where these coins ultimately go remains to be verified by multiple sources.
My view is: the direction over the next two weeks will be determined by whether that batch of unlocked tokens goes to exchanges, not by yet another partnership announcement. Operational rollout changes the medium-term valuation denominator, while unlocking changes the immediate marginal supply.
Another fork in the road is hidden in the same discussion. On-chain x402 payment counts are said to have broken 10 million; the market value of RLUSD is claimed to have surpassed $2.4 billion. But while the number of holder addresses rose from about 7.66 million to 8.18 million, the number of daily active addresses dropped from nearly 938,000 to around 17,300.
The price is stuck in the 1.52 to 1.54 range. Below it, 1.42 is near the 200-day moving average.
Historically, the fourth quarter has delivered an average return of 134.5%, but the median is -9.2%. The average has been lifted by a small number of big spikes.
So the question is left for you: will the unlocked coins ultimately be dumped onto the market, or will they be taken by the liquidity tied to RWA settlement demand?
Tonight, XRP was pushed onto the timeline by two opposite-direction pieces of news at the same time.
On one side, a custody and settlement institution in Brazil mirrored the fund shares of BTG Pactual onto the XRP Ledger; on the other, market reports claim that the custodial accounts unlocked 1 billion tokens at once, worth roughly $1.49 billion at current prices. Where these coins ultimately go remains to be verified by multiple sources.
My view is: the direction over the next two weeks will be determined by whether that batch of unlocked tokens goes to exchanges, not by yet another partnership announcement. Operational rollout changes the medium-term valuation denominator, while unlocking changes the immediate marginal supply.
Another fork in the road is hidden in the same discussion. On-chain x402 payment counts are said to have broken 10 million; the market value of RLUSD is claimed to have surpassed $2.4 billion. But while the number of holder addresses rose from about 7.66 million to 8.18 million, the number of daily active addresses dropped from nearly 938,000 to around 17,300.
The price is stuck in the 1.52 to 1.54 range. Below it, 1.42 is near the 200-day moving average.
Historically, the fourth quarter has delivered an average return of 134.5%, but the median is -9.2%. The average has been lifted by a small number of big spikes.
So the question is left for you: will the unlocked coins ultimately be dumped onto the market, or will they be taken by the liquidity tied to RWA settlement demand?