- Ripple CEO Brad Garlinghouse marked the start of the company’s 10th year of Ripple Swell with news on institutional adoption, banking, and stablecoin infrastructure.
- Ripple’s full national trust bank charter from the OCC, new Robinhood and BNY partnerships, and a Moody’s rating for RLUSD all point to deeper institutional use of the XRP Ledger.
- XRP was trading near $1.33 at the time of reporting, and one analyst cited $1.25 as the key support level to watch.
Ripple CEO Brad Garlinghouse used a series of posts dated October 28, 2026 to highlight what he described as a new era for XRP, the XRP Ledger (XRPL), and Ripple’s RLUSD stablecoin. The announcements cover regulatory approval, new institutional partnerships, and a credit rating for RLUSD, arriving as US officials signal continued interest in crypto-friendly policy.
What Happened
Garlinghouse said on X that Ripple was starting its 10th year of Ripple Swell, its conference, with a strong opening. He said it was an honor to open the event with US Treasury Secretary Scott Bessent, whose leadership alongside the current administration he credited with helping responsible crypto develop in the United States.
Bessent told the Ripple Swell audience that the United States would “win in the digital asset stack.” According to the reporting, he also said the Treasury could work with the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to advance crypto rules, even though the CLARITY Act had failed to advance.
On the banking side, the Office of the Comptroller of the Currency (OCC) granted final approval for Ripple National Trust Bank. The full banking charter allows the bank to support reserves backing RLUSD and to offer institutional digital asset custody services. Garlinghouse said crypto and banks work better together and framed the approval as combining innovation with federal oversight.
Ripple also announced expanded work with two large financial firms. Robinhood will use Ripple infrastructure for customer-facing services and core financial operations, including RLUSD settlement on the XRP Ledger, prime brokerage, and treasury operations. RLUSD is already live on Robinhood Chain and on Bitstamp by Robinhood, and Robinhood plans to use RLUSD on the XRPL for institutional settlement. Separately, Ripple is expanding its partnership with BNY across custody and tokenized trade finance involving RLUSD, XRP, and the XRP Ledger. BNY intends to broaden its support for tokenized assets and investment products issued on the XRPL.
Moody’s Ratings assigned RLUSD an A2 long-term rating and a P-1 short-term rating. Moody’s describes P-1 as the highest possible short-term rating under its new stablecoin framework.
Why It Matters
For investors, the most important element is the combination of regulatory approval, custody capability, and third-party assessment. A federally supervised trust bank that can support reserves and custody gives institutions a clearer compliance pathway than an unregulated payments provider. A credit rating from a major agency adds an external reference point for RLUSD’s risk profile, which may matter to firms that cannot hold assets without independent review.
For the broader crypto market, the partnerships suggest that the XRP Ledger is being used for settlement and tokenized finance by established institutions, not only for speculative trading. If Robinhood and BNY expand their activity as described, the XRPL could see more institutional transaction volume over time. Any such outcome, however, depends on how those plans are carried out, and none of the announcements alone prove future usage levels.
Market Context
Ripple Swell covered a wide agenda, including agentic finance, traditional finance (tradFi) adoption, tokenization, cross-border payments, decentralized finance (DeFi), and XRP Ledger utility. Actor Matt Damon is also scheduled to speak. He is expected to describe how his organization uses Ripple Payments and RLUSD to speed up cross-border payments for clean water projects.
XRP’s market reaction has been measured. The price was trading at $1.33 at the time of reporting after moving in a mostly range-bound pattern for several days despite the positive news. Trading volume rose nearly 20% over the previous 24 hours, which the source describes as a sign of buy-the-dip activity among traders.
Crypto analyst Ali Martinez said XRP is rebounding but that $1.25 remains the key level to watch. He described an inverse head-and-shoulders pattern on the daily chart, with a potential right shoulder forming near that support. If $1.25 holds, he said, XRP could move toward the neckline at $1.55, and a daily close above that level could signal a breakout toward $2.10. Technical scenarios like this are analytical views rather than forecasts, and they can fail if support breaks.
What to Watch Next
- Ripple National Trust Bank activity: Watch for announcements on custody products and how RLUSD reserves are structured under the new charter.
- Robinhood and BNY implementation: Track whether RLUSD settlement on the XRPL and tokenized trade finance move from announced plans to live transactions.
- US regulatory developments: Follow any formal steps by the Treasury, SEC, and CFTC on crypto rules, especially given the CLARITY Act’s failure.
- XRP price levels: Monitor whether $1.25 holds as support and whether a daily close above $1.55 occurs.
Source: original report
