Here’s everything most interesting surrounding Ripple’s ecosystem.
Ripple made the headlines after gaining traction in Asia.
Its native token, XRP, has slightly rebounded over the past week, while its stablecoin, RLUSD, eyes crypto’s top 50 club.
Big News From Asia
SBI Ripple Asia revealed that it has completed development of a token issuance platform system that utilizes the XRP Ledger (XRPL). The entity also confirmed it has secured registration as a third-party issuer of prepaid payment instruments.
The initiative seeks to establish a financial infrastructure by issuing such tools on a public blockchain, in full compliance with Japanese laws. The system enables token creation and management via a simple API integration with existing applications, allowing businesses to jump on board without altering their usual operations.
SBI Ripple Asia is a joint venture between the crypto company and the Japanese financial conglomerate SBI Holdings. The two entities have been working side by side on numerous cases over the past years. In 2022, they teamed up to allow real-time payments between Japan and Thailand. Last year, Ripple tapped the financial giant to distribute its stablecoin, RLUSD, in Japan.
The Asian news doesn’t end here. X user Xaif Crypto recently revealed that XRP has become the number one traded asset on Upbit, generating trading volume of roughly $170 million in 24 hours. The exchange is the largest in South Korea and among the leading globally.
XRP and the ETFs
Ripple’s native token is down approximately 63% from its all-time high of $3.65 registered last year, but over the past week, it has staged a slight 2% rebound. Its poor performance over the last several months is rather normal given the bear market that has spread across the broader crypto sector.
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What’s even more worrying for the XRP Army is investors’ behavior when it comes to ETF exposure. The financial vehicles have fallen out of grace in the past several weeks, with multiple days of no reportable flows. March even ended in the red, which made it the first such month to do so. The silver lining came on April 7 when the inflows exceeded $3 million, but that’s nothing compared to the initial months.
The first spot ETF with 100% exposure to the asset debuted in November 2025 and was introduced by Canary Capital. The renowned names to follow suit include Bitwise, Franklin Templeton, 21Shares, and Grayscale, and the investment vehicles have so far generated a cumulative net inflow of more than $1.2 billion.
RLUSD’s Progress
Ripple’s stablecoin, which is pegged 1:1 to the American dollar, saw its market cap rise to almost $1.4 billion. Currently, it ranks 54th among all cryptocurrencies after surpassing Internet Computer (ICP). Moreover, it has a real chance of joining the elite top 50 club if its capitalization rises by a few hundred million.
Over the past several days, there have been some multi-million mintings in the RLUSD Treasury. According to the X account Ripple Stablecoin Tracker, the largest single mint occurred on April 8, totaling 20 million.
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