XRP News Today: Western Union's Solana Stablecoin Ignites Blockchain Rivalry with Ripple

The Solana Foundation has escalated its rivalry with Ripple, challenging executives to a "facts-only" debate amid growing tensions over blockchain adoption in the financial sector. The clash follows Solana's recent criticism of XRP as a "bridge currency," according to a TradingView report. Western Union's decision to launch a USD-pegged stablecoin on Solana—abandoning years of experimentation with Ripple's XRP—has become a focal point in this rivalry, as detailed in a CoinEdition report. The remittance giant cited Solana's speed, low fees, and institutional readiness as key factors, contrasting with XRP's perceived shortcomings in cost efficiency and performance.

Institutional investors are also reshaping their crypto portfolios, with heavy outflows from Bitcoin and inflows into Solana and XRP. CoinShares data reveals $156 million in institutional capital flowed into Solana in a single week, while XRP attracted $73.9 million, driven by anticipation of ETF approvals. This trend aligns with CME highlights showing $3 billion in record XRP futures trading volume on October 27 as regulated derivatives expand institutional access to digital assets. Meanwhile, Ripple's CTO David Schwartz, prior to his impending departure, hinted at potential sales of escrowed XRP rights, though he clarified that such transactions require Ripple's approval in a BitcoinSistemi article.

The XRP ETF race is nearing a critical juncture. Bitwise's NYSE listing update suggests approval could arrive within 20 days, with Canary Funds targeting a November 13 launch, according to a Coinpedia update. Analysts anticipate the first U.S. spot XRP ETF could catalyze a surge in liquidity and institutional adoption, mirroring Bitcoin's ETF-driven rally. Conversely, Solana's ETF debut has already drawn $200 million in inflows within four days, per a TradingView note, with Bitwise's BSOL leading the charge. This "capital rotation" from Bitcoin and Ethereum ETFs to Solana reflects growing appetite for staking yields and new narratives in the market, as observed in a Cointelegraph report.

Ripple's Luke Judges indirectly challenged Solana's ETF success, tweeting that XRP remains "the king," according to a TradingView post. The rivalry underscores broader debates over blockchain's role in cross-border payments, with Western Union's Solana-based stablecoin signaling a shift toward self-controlled rails over open protocols like XRP. As Evernorth prepares to discuss digital asset treasuries (DATs) at the Swell event, Ripple's strategic pivot—from escrowed tokens to corporate partnerships—highlights its efforts to maintain relevance amid Solana's institutional ascent, as covered in a TradingView piece.