NEW YORK, Feb 18, 2026, 16:29 EST — After-hours
- XRP fell about 4% in the past 24 hours, underperforming a broad crypto slide
- Fed minutes flagged a split over the next move on rates, keeping risk appetite in check
- XRP Ledger documents show a “PermissionedDEX” upgrade is open for voting, aimed at vetted trading venues
XRP fell about 4% on Wednesday to around $1.42, extending a pullback across major digital tokens as traders weighed fresh signals from the U.S. Federal Reserve and a protocol push inside the XRP ecosystem. (CoinMarketCap)
The move matters now because XRP has been trading as a high-beta bet on risk sentiment, and rate expectations have been swinging quickly. Any shift in where investors think borrowing costs are headed can hit speculative corners first.
Minutes from the Fed’s late-January meeting showed policymakers were near-unanimous in holding rates steady, but the discussion carried a hawkish edge, with “several” officials open to hikes if inflation stays high. That tone has kept a lid on the kind of rebound crypto traders had tried to price in after last week’s softer U.S. consumer inflation print. (Reuters)
Bitcoin was down about 2.4% in the past 24 hours at roughly $66,173, while ether fell about 2.8% to around $1,938, CoinMarketCap data showed. (CoinMarketCap)
Chicago Fed President Austan Goolsbee struck a more dovish note a day earlier, saying there could be “several more” cuts this year, depending on inflation. The minutes, though, underlined that the path is not settled, and crypto has traded as if it can’t afford another surprise in rates. (Reuters)
On the token’s home turf, XRP Ledger documentation shows a proposed “PermissionedDEX” feature is open for mainnet voting — a protocol upgrade that would allow controlled, members-only trading venues on XRPL if validators approve it. XRPL amendments typically need a sustained supermajority vote to activate. (XRP Ledger)
A permissioned DEX — short for decentralized exchange — is a trading venue run on-chain rather than by a central operator, but with access restricted by an allow-list. The XRPL documentation says the design is meant to let regulated businesses trade while ensuring counterparties have been vetted, rather than interacting with the open XRPL order books. (XRP Ledger)
Regulatory headlines are also nearby. The U.S. Securities and Exchange Commission has a Feb. 26 deadline tied to NYSE Arca’s proposal to list and trade shares of the T. Rowe Price Active Crypto ETF, a product that would be able to hold a basket of crypto assets, according to the agency’s published schedule in the proceeding. (Federal Register)
But there are clear risks for XRP bulls. A more hawkish read on rates can push yields higher and drain liquidity from speculative assets, and the XRPL voting process can stall if validators don’t sustain support. On the regulatory front, an SEC delay or rejection could cool the ETF narrative that has helped keep crypto bids alive in recent months.
Next up, traders will watch Friday’s U.S. personal consumption expenditures price index report — the Fed’s preferred inflation gauge — due on Feb. 20, as well as the Feb. 26 SEC deadline on the T. Rowe Price crypto ETF proposal. (Bureau of Economic Analysis)
