XRP Fundamentals Are Stacking Up: RLUSD Lands in Japan, Native Lending Looms on XRPL
RLUSD launches in Japan via SBI Group; XRPL's XLS-65/66 could enable native lending as XRP holds near $1.06 despite bearish derivatives data.
XRP traders have had a rough week on the charts, but the fundamental backdrop tells a different story.
Between a regulated stablecoin launch in Japan and two proposals that could bring native lending to the XRP Ledger, Ripple’s ecosystem is expanding even as price action lags behind.
For In-Depth XRP Analysis, Upgrade Your Subscription
RLUSD Gets Regulatory Green Light in Japan
Ripple’s USD-backed stablecoin, RLUSD, is now live in Japan after approval from the Japan Financial Services Agency (JFSA).
The launch came through a partnership with SBI Group, making RLUSD accessible to both institutional and retail users via the VCTRADE platform.
Ripple positions the move as a bridge for payments, tokenisation, and collateral management, a meaningful entry point into one of Asia’s most tightly regulated financial markets.
Separately, RLUSD’s footprint on the XRP Ledger itself is reportedly closing the gap with its supply on Ethereum, according to commentary from XRP legal advocate Bill Morgan, who points to rising holder counts, burn data, and real-world asset inflows as evidence that the ledger is becoming RLUSD’s primary home.
Ripple Managing Director confirms Native Lending is Coming to XRPL
Ripple Managing Director for the Middle East and Africa, Reece Merrick, has spotlighted two pending amendments, XLS-65 and XLS-66, that would let users lend digital assets and earn yield natively on the XRP Ledger.
A project called SOIL says it’s preparing to be the first to deploy on the proposed XRPL Lending Protocol and Savings framework once both amendments are activated.
If approved, developers would no longer need to route lending activity through external chains, potentially deepening on-chain liquidity and use cases for XRP itself.
XRP price under pressure
Interestingly, none of these developments has translated into upward price momentum yet.
XRP traded near $1.06 on Thursday, down almost 5% for the week, sitting below its 50, 100, and 200-day EMAs.
In addition, CoinGlass data shows a long-to-short ratio of 0.95 and a negative funding rate of -0.0126%, both signalling bearish positioning among derivatives traders.
Why It Could Be the Right Time to Look at XRP
Bulls argue this is a classic fundamentals-versus-sentiment gap.
Spot ETF inflows ($5.31M Monday and $2.05M Wednesday) suggest some institutional accumulation even as retail sentiment stays cautious.
In addition, the support near $1.00 has held, and a confirmed break above the $1.19 resistance, followed by $1.30, would target the 100-day EMA at $1.3333.
Also, on the daily chart, the RSI (14) is at around 30 just at the boundary of the oversold territory and moving downwards, suggesting a possible oversold market condition could be coming soon.
Combined with real regulatory wins (Japan) and protocol-level catalysts (XLS-65/66), some traders see the current dip as a window before sentiment catches up to fundamentals.
That said, derivatives data still favours sellers, and pending XRPL upgrades have no confirmed activation date.
Subscribe to our Newsletters to catch premium market analysis on time