$XRP is starting to look interesting against Bitcoin. The $XRP / $BTC pair has been moving sharply higher, with XRP gaining strength while Bitcoin struggles. What caught my attention is that this is happening alongside the ongoing development of the XRPL Lending Protocol. XLS-65 and XLS-66 are designed to bring lending infrastructure to the XRP Ledger, including vaults and fixed-term, fixed-rate loans. If institutions can actually use this infrastructure at scale, it could give the XRPL a much bigger role beyond payments. Price gets the attention, but the infrastructure is what I’m watching. XRP may be entering an interesting phase.