- XRP Ledger completed its Smart Escrow Devnet update, and the feature is now ready for testing.
- BlackRock BUIDL and VanEck VBILL holders can now swap their tokenized shares for RLUSD stablecoin through a new smart contract.
- XRP price trades at $2.84 with futures open interest rising 1% to $7.57 billion despite lower trading volume.
The XRP Ledger achieved a significant milestone by successfully deploying its Smart Escrow Devnet update on September 24. Plans to introduce advanced programmability via native smart contracts were announced in September 2024, marking a crucial step toward enhanced blockchain functionality.
Developers completed the sixth monthly release of the Smart Escrow feature, bringing it to full completion. The functionality now enters the review and testing phase, preparing to unlock new use cases across the blockchain ecosystem.
Technical improvements include fee and reserve adjustments, function signature enhancements, and multi-purpose token issuance capabilities. Code cleanup and bug fixes were also implemented to strengthen the platform.
Smart Escrow on XRP Ledger. Source: RippleX
Repository structure improvements aim to enhance developer experience. Examples have been relocated to projects/examples for better accessibility. XRPL validator Vet confirmed that the XLS-101d proposal will introduce comprehensive smart contract capabilities directly on the blockchain.
BlackRock Partnership Drives Institutional Adoption
BlackRock BUIDL and VanEck VBILL tokenized funds shareholders will now be allowed to exchange their shares for Ripple’s RLUSD, a US dollar-pegged stablecoin, in a new partnership between Securitize and Ripple. The announcement came on September 23, representing a major institutional integration.
The possible arrival of the $2 billion BUIDL fund on XRPL would be a milestone, given its status as the industry’s largest tokenized money market fund. The collaboration includes smart contract integration to embed tokenized asset functionality directly into the XRPL ecosystem.
This partnership positions XRP Ledger as a bridge between traditional finance and digital assets. Holders of tokenized BlackRock and VanEck shares gain direct access to RLUSD conversion through the new smart contract infrastructure. The integration demonstrates growing institutional confidence in XRPL’s capabilities.
XRP Price Movement and Market Activity
XRP price dropped 0.60% in the past 24 hours, currently trading at $2.84. The 24-hour low and high were $2.80 and $2.89, respectively. Trading volume decreased by 40% over the same period, suggesting reduced trader activity.
Technical indicators show XRP trading below the 50-day moving average while remaining above the 100-day moving average. The Relative Strength Index climbed to 42, indicating potential buying opportunities from current levels. This suggests upward momentum despite recent price weakness.
CoinGlass data showed buying in the derivatives market. When writing, the total XRP futures open interest jumped 1% to $7.57 billion. Both CME and Binance experienced increases in futures open interest, with gains of 0.10% and 1% respectively.
Market analysts view the Smart Escrow development and institutional partnerships as positive catalysts for future price movement. Combining technical upgrades and traditional finance integration creates a foundation for potential growth in the cryptocurrency’s value and adoption.
Disclaimer
The content shared on KryptoVaultDaily is for informational purposes only and does not constitute financial or trading advice. We do not offer guarantees and assume no responsibility for investment decisions based on the material provided. Always research and seek guidance from a licensed financial advisor before trading cryptocurrency or investing.
