Ripple has quietly removed its announcement highlighting RLUSD’s recent A2 long-term and P-1 short-term credit ratings from Moody’s, causing members of the XRP community to speculate about the motive behind the deletion. The missing post drew immediate attention, as the company had only recently publicized the ratings.
Moody’s assigns investment-grade ratings to RLUSD
On October 27, 2026, Moody’s assigned RLUSD an A2 long-term deposit rating and a P-1 short-term deposit rating. This made RLUSD the first stablecoin to receive an investment-grade rating under Moody’s new stablecoin evaluation criteria. The A2 rating is within Moody’s upper-medium-grade category and indicates a low credit risk, while the P-1 score represents the highest possible short-term rating from the agency.
Moody’s based these ratings in part on RLUSD’s reserve composition. The stablecoin aims for 103% reserve coverage, with most backing assets held as short-term US Treasury securities and cash. BNY currently acts as a main custodian for these reserves.
These ratings specifically cover the native RLUSD issued by Standard Custody & Trust Company on the XRP Ledger and Ethereum. They do not extend to Ripple Labs itself but only to RLUSD tokens handled by the company’s subsidiary.
Moody’s also noted certain limitations in its assessment. The agency clarified that the credit ratings do not guarantee price stability and emphasized that Standard Custody & Trust Company is not established as a bankruptcy-remote entity.
Moody’s assigned RLUSD an A2 long-term deposit rating along with a P-1 short-term deposit rating, based in part on its reserve structure and custodial arrangements, while stating the ratings do not ensure price stability.
Speculation and possible explanations for Ripple’s move
After Ripple deleted the ratings announcement, some in the community, including decentralized news platform RippleXity, suggested that the company might be planning a larger announcement related to XRP. However, Ripple has not made any public statements connecting the deleted post to future developments.
At the same time, industry observers pointed out that compliance or regulatory factors may have prompted the deletion. Credit rating agencies, such as Moody’s, often maintain strict guidelines regarding how companies communicate their ratings publicly. Ripple could have removed the post to align its disclosures with these requirements, clarify the ratings’ scope, or revise the content for accuracy.
Ripple’s path toward launching its own banking entity, Ripple National Trust Bank, may also be a factor. The company received final approval from the US Office of the Comptroller of the Currency in October, allowing it to oversee segregated RLUSD reserves. Adjustments to reserve management structures could require Ripple to update past statements or announcements about RLUSD.
Despite the deleted post, Moody’s has not retracted RLUSD’s credit ratings, which remain posted on the agency’s platform.
Ripple has not explained the removal of the RLUSD ratings post, and Moody’s continues to list RLUSD’s A2/P-1 grades on its official channels, while speculation about a forthcoming XRP development persists in the community.
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