Ripple backed the regulatory framework proposed by the U.S. Securities and Exchange Commission, which would determine whether an asset is a security based on whether an investment contract exists rather than on the token itself. The company strengthened its institutional presence with 24/7 perpetual swaps on real-world assets through Ripple Prime, while Cross River Bank integrated the RLUSD stablecoin into its banking platform. The XRP Ledger fixCleanup3_4_0 amendment was delayed until November after support briefly fell below the required 80% threshold. After 13 consecutive weeks of inflows, spot XRP ETFs recorded outflows of less than $2 million and then two days with no reportable flows, while XRP was rejected after approaching $1.40 and falling back to $1.33.
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