XRP fell 3.4% on Friday as Ripple's latest business projections failed to offset selling pressure on the token.

The company said it is approaching a $900 million annualized product revenue run rate by the end of 2026, a measure that reflects revenue at an annualized pace rather than total revenue earned during the year. Ripple also expects its payments network to finish 2026 with $150 billion in cumulative transaction volume. The network supports international transfers across more than 60 payout markets.

"As traditional and digital finance converge, market infrastructure is migrating to modern rails. Settlement is moving to real-time, 24/7, and tokenized assets can be traded, financed, and used as collateral," Ripple CEO Brad Garlinghouse said.

According to Ripple, more than 1,700 institutions, corporations and enterprises use its infrastructure, with services spanning payments, digital asset custody, stablecoins, prime brokerage and treasury management.

RLUSD Reaches $2.6 Billion in Market Capitalization

Ripple said its dollar-backed RLUSD stablecoin has reached approximately $2.6 billion in market capitalization, representing more than 88% growth year to date. The company uses RLUSD across its product suite, including payment settlement and onchain markets, positioning it as a digital dollar for enterprise customers.

Stablecoins pegged one-to-one to fiat currencies such as the dollar have become some of crypto's most widely used instruments, serving as settlement and trading infrastructure across the industry.

The stablecoin's expansion has prompted questions about whether businesses using RLUSD still need XRP. Garlinghouse rejected the suggestion that the stablecoin displaces the token's role.

"Anyone who doesn't think that $XRP is at the heart of everything Ripple does is kind of missing the big picture from my point of view," Garlinghouse said in an interview with Bloomberg.

He described RLUSD as complementary to XRP, explaining that the stablecoin gives businesses an entry point into digital asset infrastructure. Asked separately what XRP could offer that RLUSD could not, Garlinghouse said the token remained a bridge asset for transactions between different currency pairs, a setup in which payments route through one intermediary asset rather than requiring a direct market for each currency pairing.

Binance Hack Tops $6 Billion

XRP's decline coincided with a broader cryptocurrency sell-off after Binance, the world's largest digital asset exchange by trading volume, disclosed a major security incident. Because centralized exchanges hold custody of customer assets, security failures at major venues rank among the industry's most closely watched risks.

Binance said on Friday that its preliminary investigation indicated a compromised DevOps engineer's laptop may have allowed attackers to access an internal service and submit unauthorized withdrawal transactions. The exchange estimated the incident's impact at approximately $6.3 billion, although the final amount stolen and the value of recoverable assets remain uncertain. If confirmed, the figure would place the incident among the largest security failures in crypto history, alongside the 2014 Mt. Gox breach, in which around 850,000 bitcoin were lost.

Binance said it had worked with blockchain partners to freeze approximately $3 billion in affected assets and pledged to cover losses through its SAFU fund — the Secure Asset Fund for Users, an emergency insurance reserve the exchange created in 2018 — and company resources. Deposits and withdrawals were temporarily suspended while security checks continued, and the exchange maintained that customer funds were safe.

Co-founder and former CEO Changpeng Zhao also addressed the reports.

"User funds are safe! It does look like a hack on Binance," Zhao wrote on X, adding that he expected customer funds to be fully covered.

Hours after disclosing the incident, the exchange announced it had frozen $3 billion of the stolen funds, reiterating that user funds remain safe and that deposits were unaffected. Attention now turns to when the exchange restores normal deposit and withdrawal services and whether updated figures clarify the incident's final cost and the amount ultimately recovered.

XRP Briefly Drops Below the $1.24 Support Level

XRP's daily technical structure remains bearish, with the token trading below several important moving averages following its latest decline. The 20-day, 50-day and 100-day EMAs form overhead resistance, limiting the recovery outlook while price remains beneath them.

The Relative Strength Index stands near 38, while the Stochastic Oscillator's two lines sit near 30 and 29, reflecting weak momentum after the sell-off. Both readings remain above the conventional oversold threshold of 20, suggesting that bearish pressure has not necessarily reached exhaustion.

With the $1.24 support broken, immediate support now sits at $1.16. A sustained break below that level could bring $1.04 into focus, followed by a more distant floor around $0.98. Conversely, if the daily candle closes above the support-turned-resistance level of $1.24, XRP could extend its rally toward the EMA cluster between $1.33 and $1.35, with further resistance at $1.37, $1.48 and $1.66.