Mastercard is increasing its engagement with the XRP Ledger ecosystem as XRP’s recent rally shows signs of faltering. The payments giant will sponsor the upcoming XRP Ledger Hackathon in New York, according to an announcement by XRPL Commons.
Mastercard expands into XRP Ledger
The 36-hour hackathon will take place on October 24–25, just ahead of Ripple’s Swell conference. Organizers expect developers to focus on protocol enhancements, agentic finance, and lending use cases, bringing together ecosystem stakeholders for rapid project development.
Mastercard’s role as a hackathon sponsor comes in addition to its expanding involvement in infrastructure tied to Ripple and the XRP Ledger. In June, Mastercard announced plans to extend its settlement products to regulated stablecoins such as Ripple USD (RLUSD), covering several blockchain networks including XRPL.
The collaboration between Mastercard and Ripple also includes partners such as WebBank and Gemini. Together, these companies are exploring the possibility of using RLUSD for settling card transactions directly on the XRP Ledger. This project is currently in the exploratory phase rather than being a commercial launch.
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AAPLMastercard, based in the US, is a global payments technology firm consistently pursuing blockchain initiatives alongside traditional card and banking platforms.
Mini dictionary: RLUSD, or Ripple USD, refers to a regulated stablecoin pegged to the US dollar for use on blockchain platforms such as the XRP Ledger. Stablecoins like RLUSD are designed to maintain a fixed value, offering predictable settlement in digital transactions.
XRP price struggles despite institutional demand
Despite strong institutional interest, XRP has not avoided the recent market downturn. The cryptocurrency traded around $1.38–$1.39 on August 29, having dropped below the $1.40 threshold. It previously registered a high of $1.70 on August 22 before losing momentum. The August 29 session recorded a low near $1.36, setting that area as a critical short-term support for traders.
Earlier in August, the token saw significant whale activity. Large holders purchased approximately 190 million XRP tokens within a day during a strong breakout, and transaction volumes on the XRP Ledger surged to nearly 1.9 million daily transactions.
While this accumulation provided an initial boost, the broader deterioration in risk appetite across the crypto market has presented new challenges for sustaining XRP’s rally.
XRP experienced a strong surge earlier in August, driven by major holders accumulating millions of tokens and a sharp increase in on-chain activity, before broader market weakness led to renewed selling pressure.
ETF inflows and key price levels
Institutional investment has continued to contrast with the price pullback. US spot XRP ETFs posted their strongest week in over three months, with total net inflows reaching about $1.55 billion. During that week, funds attracted $39.78 million, including $18.38 million in a single Friday trading session, according to ETF data.
| Date | XRP Price (USD) | US Spot XRP ETF Net Inflow ($ Million) |
|---|---|---|
| August 22 | 1.70 | – |
| August 29 | 1.38–1.39 | $39.78 (week), $18.38 (Friday) |
| Cumulative (3 months) | – | $1,550 |
The ongoing ETF inflows, even as prices slid from their peaks, suggest that large investors remain interested in XRP exposure. A recovery in price above $1.43–$1.45 is seen as favorable, while a decisive move below $1.36 could leave the $1.30 zone vulnerable.
For those watching longer-term trends, the future of XRP rests on its continuing integration within payments and settlement infrastructure, marking its distinct role compared to other digital assets.
Mastercard’s increased engagement with the XRP Ledger ecosystem adds momentum to the institutional adoption narrative. However, short-term price direction will depend on whether ETF demand, key technical levels, and overall crypto market sentiment can support another rally.
