Bitcoin edges up to $80,600 as Robinhood taps Ripple's RLUSD

Bitcoin edged up to $80,649, a gain of 0.59% over 24 hours, as XRP led the majors after Robinhood moved to offer Ripple's RLUSD stablecoin. Fear & Greed ticked up to 51 from 48, while Robinhood's third-quarter results and a speech by Treasury Secretary Scott Bessent filled the news flow since our last update.

Prices below are a CoinGecko snapshot taken at 00:30 UTC on October 28, using rolling 24-hour and 7-day windows.

Bitcoin

Bitcoin traded between $79,416 and $81,159 over the past 24 hours, according to CoinGecko. That is slightly higher than the $80,287 level in our previous recap. The coin is still down 2.67% over seven days. Spot volume was about $24.1 billion. You can follow the move on the BTC/USD chart.

Ether and the majors

Ether rose 0.75% to $2,343.20 but remains 4.31% lower on the week. XRP gained 1.3% and touched the top of its 24-hour range at $1.33. Cardano was the weakest on both windows.

Breadth and sentiment

CoinGecko puts total crypto market value at $2.721 trillion, down 1.92% over 24 hours. That decline sits awkwardly next to small gains in most large coins, so we treat the aggregate figure with caution. Bitcoin dominance stands at 59.4% and Ether's share at 10.5%.

The Crypto Fear & Greed Index reads 51, up from 48 a day earlier. It has stayed in Neutral territory between 48 and 54 since October 23, after reading 68 (Greed) on October 22.

What moved the market

Robinhood and Ripple. Decrypt reports that RLUSD is live on Robinhood Chain and Bitstamp and will reach the Robinhood app later this year. CoinDesk notes that Robinhood helped launch the rival USDG token. According to Cointelegraph, Ripple also widened custody work with BNY and partnered with C2FO on trade finance settlement on the XRP Ledger.

Robinhood earnings. Decrypt reports record revenue of $1.42 billion but earnings of $0.51 per share, short of the $0.55 expected. CoinDesk says crypto revenue fell 55% from a year earlier but beat forecasts, with crypto trading volume down 38%.

Bessent on crypto. Speaking at Ripple's conference, the Treasury Secretary said SEC and CFTC action could help fill the gap left by the Clarity Act's failure, while curbing crypto debanking, CoinDesk reports.

Other headlines.

• Intel, Oracle, IBM and IonQ objected to the OKX-ICE tokenized stock venue, bringing the total to 26, according to CoinDesk.
• The CFTC sued Utah to block action against prediction markets, Cointelegraph reports. Utah sued Kalshi last week.
• VanEck launched a Wealth Builder ETF targeting a 2% Bitcoin allocation, per Cointelegraph.
• Wallet maker Keystone pulled devices after attackers obtained its factory key, affecting 25,964 buyer records, Decrypt reports. The company says recovery phrases and private keys were not involved.

What to watch next

1. RLUSD in the Robinhood app, due later this year, according to Decrypt.
2. OKX-ICE venue. CoinDesk says the joint venture is preparing to test the SEC's new framework for blockchain-based stock trading as objections mount.
3. CFTC v. Utah and the separate Utah case against Kalshi over prediction markets.
4. SEC and CFTC steps that Bessent said could fill the gap left by the Clarity Act.

For the macro backdrop, our sister site covered how the dollar firmed as currency traders waited for the Fed.