Ripple is tokenizing shares of a Brazilian investment fund on the XRP Ledger through a new partnership with CSD BR, adding institutional use cases to the network. The announcement lands as XRP trades sideways near $1.50, with rising leverage and a growing on-exchange supply clouding the accumulation story that has held for weeks.
Ripple is kicking off the fourth quarter with a push into Brazil's tokenization market, even as XRP itself struggles to clear a resistance band it has failed to break since the start of the year.
Ripple partners with CSD BR on tokenized fund shares
In a post on X, Ripple announced that CSD BR is partnering with the company to tokenize Brazilian capital markets on the XRP Ledger, starting with shares of the BTG Pactual fund, secured through Ripple Custody. The move could give the XRP Ledger a bigger role in Brazil's growing tokenization market, adding to Ripple's institutional momentum.
Stablecoin supply on XRP Ledger hits record high
The timing coincides with a liquidity milestone on the network. Stablecoin supply on the XRP Ledger hit an all-time high of $1.2 billion, up 4% in the past week alone, meaning more than $50 million in fresh liquidity entered the network. With more than 90% of that supply held in RLUSD, the stablecoin's own supply has also reached a record $2.5 billion.
XRP stalls at resistance as leverage builds
However, the price action tells a more uncertain story. XRP has moved sideways in the $1.5-$1.7 region for over four weeks, a level it has not broken since the beginning of the year. At first glance that looks like accumulation, but on-chain data suggests otherwise: according to a CryptoQuant report, XRP's Binance Scarcity Index sits at its lowest level since January 2025, pointing to a growing supply of XRP sitting on the exchange.
XRP has also seen its strongest Open Interest growth since August 2025. Since late August, XRP has gained more than 70% and is currently trading near $1.50, a roughly 50% increase over the past month. Yet Binance Open Interest has climbed alongside the price, with monthly growth averaging nearly 1.3%, suggesting the rally is being driven by leveraged futures positions as well as spot buying.
That combination makes the current setup look less like clean accumulation and more like a potential bull trap, even as the network's fundamentals keep improving. Breaking above the $1.50 resistance without a significant leverage unwind would show that the increased network activity is beginning to have a material price impact.
Source: AMBCrypto
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