Ripple’s ecosystem has seen developments spanning asset management, custody, and tokenization as XRP remains below the roughly $1.70 level reached briefly in August. Bitwise’s spot XRP ETF held about $507 million after Monday’s close, surpassing $500 million in assets under management nine months after launch. U.S. spot XRP ETFs had attracted a record $1.66 billion in cumulative net inflows by the end of last week, with Bitwise leading the category at more than $600 million in cumulative inflows, ahead of Canary Capital’s XRPC and Franklin Templeton’s XRPZ. Ripple Labs and SettleMint launched a partnership integrating Ripple Custody with SettleMint’s Digital Asset Lifecycle Platform, allowing regulated institutions to custody, issue, and manage tokenized assets through one system. The service is already live in Asia and is aimed at banks, market infrastructure operators, and sovereign entities. RLUSD and XRP support Ripple’s institutional solutions, while BCG estimates the tokenization market could reach $88 trillion over the next 10 years. Separately, Evernorth cleared a regulatory milestone after the U.S. Securities and Exchange Commission declared its registration statement effective. Shareholders of merger partner Armada Acquisition Corp. II are scheduled to vote on September 30, and approval would allow the combined company to trade on Nasdaq under the ticker XRPN. Evernorth has disclosed more than $1 billion in gross proceeds from investors including Ripple, SBI Holdings, Pantera Capital, Kraken, and Arrington Capital. XRP was trading around $1.35, with a market capitalization nearing $85 billion, after falling about 2% over several days and 6% on the weekly chart. Analysts are divided, with some identifying $1.70 as the next major target if the breakout holds, while others point to resistance around $.140 to $1.43 and then $1.5. Failure to clear those levels, they say, could indicate weakness and push XRP below $1.3.