Ripple and XRP Price Update: October 30

Ripple’s Swell Conference Wraps with Major Partnerships and Regulatory Wins, Despite XRP Price Slump

San Francisco, CA – Ripple concluded its highly anticipated Swell 2026 conference this week, unveiling a series of significant announcements and developments that involved prominent industry players and traditional finance giants, including Coinbase, Robinhood, and BNY Mellon. The event also saw crucial regulatory updates, though the company’s cross-border token, XRP, experienced a notable decline in value.

CEO Addresses RLUSD Concerns, Reaffirms XRP’s Central Role

A key takeaway for the XRP community from Swell came directly from Ripple CEO Brad Garlinghouse. He addressed concerns that the company’s burgeoning RLUSD stablecoin business might be overshadowing XRP. Garlinghouse described XRP as the firm’s “North Star,” emphasizing Ripple’s commitment to pursuing activities that exclusively benefit the cross-border token. However, he acknowledged that RLUSD or traditional fiat currencies may be more suitable for specific financial transactions.

The stablecoin itself received several substantial endorsements during the conference, fueling the discussions within the Ripple community. Coinbase announced expanded access to RLUSD across its platforms, including Coinbase Prime, Coinbase Exchange, and its retail application, with support extending to the XRP Ledger (XRPL), Ethereum, and Base.

Robinhood and BNY Mellon Deepen Ties with Ripple

Ripple also announced an expanded partnership with Robinhood, which will see RLUSD integrated into Bitstamp, institutional settlement processes, and eventually the main Robinhood application. Vlad Tenev’s company will also incorporate Ripple Treasury into its internal financial operations.

In parallel, BNY Mellon enhanced its custody services to include support for both XRP and RLUSD. Furthermore, Moody’s assigned RLUSD an A2 long-term and P-1 short-term investment-grade rating, with the latter being the agency’s highest short-term designation under its stablecoin framework.

Regulatory Milestones and Corporate Expansion

Ripple revealed that its product revenue run rate is nearing $900 million annually. The company also secured final approval from the Office of the Comptroller of the Currency (OCC) to establish Ripple National Trust Bank. This federally supervised entity is designed to support RLUSD reserves and institutional digital asset custody.

The company’s corporate finance ambitions also saw significant growth. Ripple Treasury is set to offer AI-powered cash management, payments, forecasting, and liquidity tools, including a 24/7 Returns service for eligible businesses holding qualifying digital assets like RLUSD.

XRP Ledger Enhancements and New Use Cases

The XRP Ledger is poised to welcome new institutional use cases, as Ripple and C2FO collaborate to integrate C2FO’s Instant Pay settlement platform onto XRPL. The initiative aims to enable suppliers to receive funds within seconds, bypassing the typical multi-day delays associated with conventional bank transfers, with RLUSD playing a role in this process.

Concurrently, XRP Ledger developers have proposed four code changes aimed at strengthening restrictions around permissioned tokens. These changes are intended to limit access to regulated stablecoins or tokenized funds to only approved accounts. The proposed fixCleanup350 upgrade would close several existing exceptions, including those involving automated market makers, and would generally require unapproved holders to return tokens to their issuer until authorization is granted.

In other XRPL news, Flare has joined the list of XRPL validators. The XRP Ledger Foundation, meanwhile, removed Anodos Finance at the project’s request, as it plans to shut down its validator operations by the end of the month.

XRP Price Faces Downward Pressure Amidst Market Volatility

Despite a strong showing at Swell and significant corporate developments, XRP’s price has mirrored the broader market’s downturn. The token faced rejection at the $1.40 mark on October 21, subsequently falling to $1.25.

While XRP saw a rebound in the following days, challenging $1.35 after the Federal Reserve’s decision to pause interest rate hikes, a major cryptocurrency exchange hack earlier today triggered a market-wide crash. This event drove XRP to a multi-month low of $1.19. Although the asset has seen a slight recovery since then, it remains down 4% on the day and 6% for the week, with its market capitalization falling below $80 billion.