Ripple expands as XRP wobbles

February 11, 2026

 

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Ripple’s tokenization push meets XRP market tension

Key points:

  • Ripple and Aviva Investors will tokenize traditional fund structures on the XRP Ledger, backed by Aviva’s $345 billion asset base.

  • XRP’s price remains fragile near $1.35 to $1.40 even as institutional inflows and ETF demand show mixed signals.

News - Ripple has partnered with UK-based Aviva Investors to tokenize traditional fund structures on the XRP Ledger. 

Aviva, which manages $345 billion in assets, will leverage XRPL to issue and manage tokenized funds as part of its first tokenization initiative. The collaboration, set to extend through 2026 and beyond, positions XRPL within a regulated institutional framework and marks Ripple’s first partnership with a Europe-based asset manager.

Ripple said the initiative supports its broader effort to bring regulated financial assets onchain. The XRPL, which has processed over 4 billion transactions and operates without mining, will provide infrastructure for fund issuance and management. Chief Distribution Officer Jill Barber of Aviva Investors stated that tokenization can improve time and cost efficiency for investors.

The move comes amid a broader surge in real-world asset (RWA) tokenization, with onchain RWA value rising 232% year over year in 2025. Major firms such as BlackRock and JPMorgan have launched blockchain-based investment products, signaling institutional momentum.

Institutional flows vs. Ledger slowdown - While Ripple expands its institutional footprint, XRP Ledger activity has dropped about 80% from recent peaks. At the same time, XRP ETFs have recorded cumulative net inflows of $1.23 billion, including $3.26 million in recent daily inflows. CoinShares also reported $63.1 million in weekly inflows into XRP products, outpacing Bitcoin and Ethereum during that period.

However, onchain whale distribution remains notable. Roughly 350 million XRP worth about $483 million was offloaded by large holders over five days, and XRP continues trading below its realized price.

Price at a crossroads - XRP has retraced nearly 63% from its $3.66 multi-year high and trades near $1.38. Analysts warn that a corrective move below $1 remains possible, with $1.12 identified as a key local low. At the same time, strong demand has been observed between $1.00 and $1.20.

Adding to speculation, Ripple’s reported IPO valuation nearing $40 billion has revived debate over whether corporate momentum could influence token sentiment.

BlackRock’s DeFi entry lifts UNI as court battle eases

Key points:

  • BlackRock will make its $2.2 billion tokenized Treasury fund tradable on Uniswap, while purchasing an undisclosed amount of UNI.

  • UNI jumped as much as 30% following the announcement, even as the exchange secured a procedural win in a U.S. patent lawsuit.

News - Uniswap’s UNI token surged after BlackRock announced it would make shares of its USD Institutional Digital Liquidity Fund, known as BUIDL, tradable via UniswapX in partnership with Uniswap Labs and Securitize. The asset manager also disclosed a strategic investment within the Uniswap ecosystem, purchasing an undisclosed amount of UNI.

UNI climbed as high as $4.36 following the news, marking gains of roughly 20% to 30% depending on intraday levels, before pulling back. The move stood out as broader crypto markets, including Bitcoin and Ethereum, traded lower.

BUIDL, backed by U.S. Treasury bills and cash, holds between $2.2 billion and $2.4 billion in assets according to multiple data references across reports. The integration allows pre-qualified and whitelisted investors to trade the tokenized fund around the clock using stablecoins, with Securitize handling compliance and regulatory requirements.

Wall Street meets DeFi infrastructure - The arrangement marks BlackRock’s first direct use of decentralized finance trading infrastructure for one of its tokenized products. UniswapX will route orders offchain and settle transactions onchain through smart contracts, connecting approved market makers with institutional participants.

BlackRock, which manages about $14 trillion in assets, has expanded its crypto footprint in recent years through Bitcoin and Ethereum ETFs. Its deeper integration into decentralized liquidity venues signals growing overlap between traditional asset managers and blockchain-based trading rails.

Legal developments add to momentum - The price reaction also came as Uniswap secured a procedural victory in a patent infringement lawsuit brought by Bancor-affiliated entities. In a February 10 order, a New York federal judge dismissed the complaint, ruling that the asserted patents claimed abstract ideas and were not eligible under U.S. patent law.

The dismissal was issued without prejudice, giving plaintiffs 21 days to amend their complaint before it becomes final.

Institutional participation and legal momentum together shaped the backdrop for UNI’s sharp price reaction.

Binance, Franklin Templeton roll out off-exchange collateral model

Key points:

  • Institutions can now use tokenized money market fund shares as collateral on Binance without transferring assets onto the exchange.

  • The structure keeps assets in regulated custody while mirroring their value inside Binance’s trading system to reduce counterparty exposure.

News - Franklin Templeton and Binance have launched an institutional off-exchange collateral program that allows eligible clients to pledge tokenized money market fund shares for trading activity while the underlying assets remain in third-party custody.

The tokenized shares are issued through Franklin Templeton’s Benji Technology Platform and held with Ceffu, Binance’s institutional custody partner. Rather than moving funds onto Binance, the collateral value is reflected within the exchange’s trading environment, enabling institutions to support trading positions while keeping assets off-platform.

The design addresses a longstanding concern among large market participants following previous exchange failures: counterparty risk. By keeping assets in regulated custody, institutions reduce direct exposure to exchange insolvency while maintaining trading access. At the same time, the money market funds generate yield, allowing capital to remain productive instead of sitting idle.

Yield meets risk management - The framework represents the first live product from a strategic partnership announced in 2025. It also fits into a broader shift toward tokenized real-world assets serving as collateral in crypto markets.

Other tokenized Treasury and money market products, including BlackRock’s BUIDL, have been positioned as low-volatility, yield-bearing alternatives to stablecoins for institutional trading. The Franklin Templeton–Binance model focuses specifically on off-exchange security and regulated custody while integrating directly into Binance’s infrastructure.

Regulatory and structural considerations - While the structure reduces certain custody risks, it does not eliminate dependence on centralized trading infrastructure. Trading execution and collateral valuation remain tied to Binance’s operational framework.

Regulators have also flagged potential cross-border risks in tokenized markets. The International Organization of Securities Commissions has warned that tokenized instruments used across jurisdictions could create supervisory challenges if oversight does not keep pace.

The launch reflects how recent coverage has framed institutional participation as increasingly focused on custody safeguards and capital efficiency rather than purely speculative momentum.

Sam Bankman-Fried seeks new trial, claims FTX was solvent

Key points:

  • SBF has filed a Rule 33 motion for a new trial, alleging new evidence and prosecutorial pressure on potential defense witnesses.

  • A former FTX data head claims the exchange was balance-sheet solvent in November 2022, challenging the prosecution’s insolvency narrative.

News - Sam Bankman-Fried (SBF) has formally requested a new trial in New York federal court, arguing that newly surfaced evidence and alleged witness pressure warrant reconsideration of his conviction. The former FTX CEO, currently serving a 25-year sentence on seven federal fraud and conspiracy counts, is representing himself through a pro se filing submitted by his mother, Stanford law professor Barbara Fried.

The motion invokes Rule 33 of the Federal Rules of Criminal Procedure, which allows defendants to seek a new trial based on newly discovered evidence. Bankman-Fried claims that the Department of Justice pressured potential defense witnesses into silence or altered testimony, including former FTX Head of Data Science Daniel Chapsky.

Solvency at the center of the dispute - Chapsky submitted a declaration asserting that FTX and Alameda Research were not balance-sheet insolvent when they entered Chapter 11 bankruptcy on November 11, 2022. According to the motion, FTX held a positive net asset value of $16.5 billion on the petition date. 

Bankman-Fried has also argued separately that the exchange had approximately $14.6 billion in assets against about $8 billion in customer claims.

At trial, prosecutors alleged a multi-billion-dollar shortfall driven by the diversion of customer funds to Alameda Research. The new filing contends that jurors were presented with an incomplete picture of the company’s financial condition.

Legal hurdles ahead - Even if asset recoveries ultimately exceed customer claims, judges have previously signaled that solvency does not necessarily negate fraud. Bankruptcy proceedings value claims at petition-date prices, meaning customers are repaid in dollar terms rather than in-kind crypto appreciation.

Bankman-Fried must now demonstrate that the alleged new evidence materially affects the integrity of the original verdict. Courts have already shown skepticism toward earlier arguments centered on FTX’s financial position.

Did you know?

  • A bizarre crypto giveaway shook markets: On February 9, 2026, South Korea’s financial regulator said an internal glitch at major exchange Bithumb led to an unintended transfer of more than $40 billion in assets, prompting calls for tougher crypto rules after the “giveaway.”

  • EU eyes sweeping Russia crypto ban: The European Commission has proposed a comprehensive ban on all cryptocurrency transactions involving Russia to prevent sanctioned actors from using digital assets to evade sanctions.

  • A defining crypto market downturn reshaped sentiment: Bitcoin’s value has recently plummeted to around $63,000, approximately half its peak in late 2025, contributing to a roughly $2 trillion drop in global crypto market value amid broader sell-offs.

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Top 3 coins of the day

LayerZero (ZRO)

Key points:

  • ZRO surged toward $2.38 after breaking decisively above its recent consolidation range near $1.80.

  • The breakout was backed by expanding volume and a push beyond the upper Bollinger Band, while CMF hovered slightly in positive territory.

What you should know:

ZRO staged a powerful upside move, climbing from the $1.80 region to close near $2.38, marking one of its strongest daily advances in recent weeks. The rally followed a period of tightening price action and was accompanied by a clear expansion in volume, suggesting genuine participation rather than a thin liquidity spike.

Technically, price closed well above the upper Bollinger Band, reflecting volatility expansion and aggressive momentum. The middle band near $1.87 now acts as dynamic support, while the recent breakout base around $2.20 to $2.30 serves as the first key zone to monitor. On the momentum side, CMF returned slightly above zero, indicating mild capital inflows but not extreme accumulation.

If ZRO holds above $2.20, the structure remains constructive. A failure to maintain this zone could open the door for a pullback toward the $1.87 area.

Kaspa (KAS)

Key points:

  • KAS hovered around $0.031 after stabilizing above the $0.030 area following a prolonged decline from January highs.

  • The Parabolic SAR flipped below price while MACD edged into positive territory, though volume remained relatively muted.

What you should know:

KAS traded near $0.031 after finding footing around the $0.030 zone, a level that recently absorbed selling pressure. The move followed a broader slide from the $0.050 region, suggesting the latest uptick reflected short-term stabilization rather than a confirmed trend shift.

From a structure standpoint, signals turned mildly constructive. The Parabolic SAR dots shifted beneath the candles, indicating a near-term bullish bias. At the same time, the MACD histogram turned slightly green and pushed above the zero line, showing that bearish momentum eased. However, volume remained moderate compared to earlier distribution phases, which limits the strength of the rebound.

For now, $0.030 acts as immediate support, while $0.035 represents the next resistance area. A sustained hold above support would strengthen the base, whereas a break lower could expose the $0.028 region.

Quant (QNT)

Key points:

  • QNT climbed back toward $69 after rebounding sharply from its recent low near $57.

  • Momentum turned positive as Parabolic SAR switched below price, while Stochastic RSI surged into overbought territory.

What you should know:

QNT showed a firm recovery after its early-February drop toward the $57 region, printing a sequence of higher lows and pushing back above $69. The latest advance followed a sharp capitulation wick, suggesting buyers stepped in aggressively near the recent bottom. Parabolic SAR dots shifted beneath the candles, signaling a short-term bullish bias, while the Stochastic RSI accelerated into the 85–90 range, reflecting strong but stretched momentum.

Volume expanded during the rebound, though not to extreme levels, indicating steady rather than euphoric participation. The move coincides with renewed institutional attention after Quant was selected for the Bank of England’s Synchronization Lab initiative, reinforcing its enterprise narrative.

As of now, $63–$65 serves as immediate support, while $70–$71 acts as the first resistance zone. A sustained break above $71.00 could open room toward the $79–$83 area.

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