Key Takeaways
- NYSE expanded its tokenization partnerships without naming XRPL as a selected settlement network.
- Securitize’s relationship with Ripple concerns RLUSD and a separately announced XRPL integration.
- Dark Defender’s independent $10.11 XRP scenario would require a rally of approximately 672%.
The New York Stock Exchange’s expanding tokenization plans have sparked claims that Wall Street is connecting directly to the XRP Ledger.
However, NYSE’s latest announcement does not identify XRPL as a selected settlement network or establish that investors will need XRP to trade tokenized shares.
The speculation comes as analyst Dark Defender outlines a price scenario above $10, raising a familiar question for holders — how much institutional blockchain activity actually translates into demand for XRP?
NYSE Deal Sparks XRPL Adoption Claims
NYSE’s expanding tokenization partnerships have prompted speculation that the exchange is connecting its planned digital securities venue to the XRPL.
In a Nov. 2 X post, crypto commentator SMQKE wrote:
“NYSE CONNECTS TO XRPL, STELLAR, XDC AND ALGORAND THROUGH TWO TRANSFER AGENTS”
The commentator linked NYSE’s relationships with Securitize and tZERO to those companies’ blockchain integrations, highlighting Securitize’s work with Ripple and XRPL.
However, NYSE’s announcement stops short of confirming which networks its planned venue will use.
In its update, the exchange added Broadridge, Computershare, Equiniti, and Superstate to its existing transfer-agent partners, Securitize and tZERO.
The planned platform would support round-the-clock trading, instant settlement, and stablecoin funding, with a design that supports multiple blockchains for settlement and custody.
Where the XRP Connection Comes From
The bullish theories draw on a real relationship between Ripple and Securitize, announced separately in September 2025.
That agreement introduced functionality allowing holders of BlackRock’s BUIDL and VanEck’s VBILL tokenized funds to exchange their shares for Ripple’s RLUSD stablecoin.
Ripple’s announcement also stated:
“Securitize is also integrating with the XRP Ledger (XRPL) to expand access and bring new utility to the XRPL ecosystem.”
However, it does not provide evidence that NYSE trades will settle on the ledger or that investors will be required to buy XRP.
Securitize’s Stock Offering Uses Solana and USDC
Securitize’s own stock offering helps explain why its relationship with Ripple does not automatically establish an NYSE–XRPL connection.
On Nov. 2, Securitize expanded its tokenized stock offering to 25 equities, with the products trading on Solana and transactions settling in USDC.
Securitize also expects those stocks to become available on NYSE’s planned digital venue, subject to its launch and regulatory requirements.
However, that does not confirm which blockchain NYSE will use for settlement.
This is comparable to the questions for XRP holders, as Securitize’s involvement alone cannot establish whether a transaction will use XRPL, RLUSD or XRP.
Regulatory approval also presents further hurdles.
As CCN previously reported, 50 companies objected to tokenized versions of their shares trading on OKXICE, a separate initiative backed by OKX and the owner of NYSE, Intercontinental Exchange.
Dark Defender Maps XRP Above $10
Meanwhile, popular crypto analyst Dark Defender outlined a bullish XRP scenario combining an initial breakout above $2 with a longer-term advance beyond $10.
In his Nov. 3 post on X, he wrote:
“Nothing changed in the 10-day timeframe. Wave 1 is complete. Wave 2 is technically complete.”
He added:
“The structure is ready; the RSI is ready.
“I expect the move above the $2 mark to start this month.”
The accompanying chart marks Fibonacci extension levels around $7.08, $4.10, and $10.11.
Dark Defender’s chart drew mixed reactions.
One respondent described the outlook as “pretty bullish,” while another argued that the token was “not going anywhere but sideways or down.”
What a $10.11 Price Would Require
With XRP currently trading around $1.31 and around 63.35 billion tokens circulating, reaching $10.11 would require a gain of roughly 672%, taking its price to about 7.7 times that starting level.
Assuming circulating supply remained unchanged, the target would imply a market capitalization of around $640 billion.
CCN previously examined concerns about whether Ripple’s expanding RLUSD business benefits XRP holders.
XRPL transactions generally incur small XRP fees, but that requirement is different from institutions choosing XRP as the asset used to settle the underlying investment.
The gap between Ripple’s expansion and XRP’s price has prompted frustration among individual holders.
XRP supporter Fabrizio Scudu recently addressed an emotional appeal to Brad Garlinghouse and David Schwartz, arguing that longtime investors deserved a greater financial reward.
“We didn’t just buy an asset; we chose to fight the exact same war alongside you,” he wrote.
Scudu accused Ripple of prioritizing RLUSD and its corporate business over XRP holders, adding:
“You secured your future while leaving ours out in the cold.”
He demanded that XRP reach what he called its “true fair value” of $15–$20 or higher, urging the executives to:
“Take every step necessary. Execute every market action required to restore dignity to our sacrifice.”
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
