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Ripple Eyes $900M in Annualized Revenue Run Rate in 2026

Sam Wisdom Raphael
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Ripple Eyes $900M in Annualized Revenue Run Rate in 2026

Ripple recently announced that it expects its annualized product revenue run rate to reach $900 million by the end of 2026. 

CEO Brad Garlinghouse shared the figure at the company’s Swell 2026 conference in New York City, describing 2026 as an exceptional year for Ripple. 

He highlighted rising transaction volumes and the range of products the company offers institutional customers as major factors behind its progress. 

The conference, held from Oct. 27 to 29 in New York, attracted more than 1,500 attendees and over 75 speakers from traditional finance, cryptocurrency, academia, and the wider XRP ecosystem.

The $900 million figure does not represent the total revenue Ripple has earned so far in 2026, but the annualized run rate, which projects the company’s current revenue pace over a 12-month period. 

Ripple uses this measure to show how much its product business has grown. However, its actual revenue for the full year will depend on customer activity, market conditions, and demand for its products.

Ripple Sees Growth Across Multiple Products

Ripple attributed its revenue growth to increased activity across several business areas, including payments, custody, its RLUSD stablecoin, prime brokerage, and treasury management. 

The company also reported that the number of customers and partners using more than one Ripple product at the same time tripled in 2026. This suggests that customers are using more of Ripple’s services instead of relying on a single product. 

Ripple expects the total transaction volume processed through its payments network to approach $150 billion by the end of 2026. 

Notably, Ripple holds more than 85 regulatory licenses across international markets and serves over 1,700 financial institutions and enterprises worldwide. According to the company, its growth comes from improvements to its existing products and the integration of acquisitions it completed in 2025.

RLUSD Market Cap Climbs to $2.6 Billion

RLUSD has become an important part of Ripple’s business, reaching a market cap of $2.6 billion when the company announced its revenue outlook at Swell 2026. This represents more than 88% growth since the start of the year. 

Ripple launched the dollar-backed stablecoin in December 2024 after receiving regulatory approval from the NYDFS. Since then, RLUSD has expanded across several blockchain networks and gained a dominant share of stablecoin activity on the XRP Ledger.

Cross River Bank announced a partnership to integrate RLUSD into its core platform solutions on the XRP Ledger. Ripple also expanded its partnership with the Bank of New York Mellon on tokenized trade finance built on the same network. 

XRP Struggles Despite Ripple’s Expansion 

Meanwhile, on Oct. 26, the U.S. Office of the Comptroller of the Currency granted Ripple final approval to establish Ripple National Trust Bank. 

The approval gives the company federal-level supervisory standing under the OCC and adds to its existing trust license from the New York Department of Financial Services. 

Despite Ripple’s business growth, XRP has declined nearly 30% year-to-date, leaving its market cap near $83 billion. 

Holding XRP does not give investors direct ownership of Ripple or a share of its product revenue. As a result, the company’s financial performance does not automatically translate into earnings for XRP holders.

However, Ripple’s growth may affect the token indirectly by increasing activity on the network and influencing investor demand.

TCB Daily Edition: What Happened in Crypto on October 29, 2026

Albert Brown
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TCB Daily Edition: What Happened in Crypto on October 29, 2026

October 29, 2026 brought new developments in crypto trading, stablecoin payments and tokenized assets. ICE outlined plans for U.S. markets built on Hyperliquid, Polygon extended its payments services to Solana, and Chainlink introduced pricing coverage for weekends and holidays.

ICE Plans U.S. Perpetual Markets With Trade[XYZ]

ICE, the owner of the New York Stock Exchange, announced an agreement with Trade[XYZ] to develop a U.S. trading venue using Hyperliquid infrastructure. ICE is also taking a minority stake in the company, with the proposed business targeting retail traders seeking continuous access to contracts linked to crypto, stocks, commodities and currencies. The trading and clearing arrangements remain subject to regulatory approval.

Polygon Connects Solana Businesses to Banking and Payments Services

Polygon added Solana support to its Open Money Stack, allowing businesses on the network to connect bank deposits, stablecoin transfers and customer payouts through its infrastructure. Companies can combine Solana wallets with currency conversion and transfers across supported blockchains. The integration gives payment providers a way to handle both the banking and blockchain stages of a transaction within their existing applications.

Chainlink Extends Asset Pricing Through Weekends and Holidays

Chainlink launched its 24/7 pricing service, with Aave adopting the feeds for tokenized collateral on its Horizon institutional lending platform. When traditional exchanges close, the service draws on perpetual futures venues to keep reference prices moving, allowing applications to reassess collateral outside normal trading hours. Those figures reflect derivatives trading rather than fresh transactions on the closed underlying exchange.

Kalshi Confirms $1 Billion Funding Round

Kalshi announced that it had completed a $1 billion fundraising round, putting its valuation at $40 billion as it pursues expansion into more financial markets. Sequoia and Wellington co-led the financing, which nearly doubles the valuation attached to its previous round in May. Today’s announcement confirms the funding’s completion following earlier reports that the company was seeking investment at that level.

FCA Announces Settlement With HTX

Britain’s Financial Conduct Authority disclosed a settlement with HTX and secured court undertakings restricting unlawful crypto promotions to UK consumers. The regulator said UK customers can no longer deposit funds or open new accounts, while existing users should consult HTX’s withdrawal arrangements for remaining assets. The settlement does not amount to an admission of wrongdoing by Huobi Global or other parties.

KuCoin Announces Withdrawal From Russia and Belarus

KuCoin said it was discontinuing access to its products and services for users in Russia and Belarus, citing legal and regulatory requirements. Affected customers will receive individual notices explaining when they must close positions and withdraw their holdings. The announcement did not set a single public deadline for every account, and users who have received no notice were told that no immediate action is required.

Travala Proposes AVA Lockups for Payment Partners

Travala unveiled AVA+ Partners, a program under development that would let crypto projects seek payment acceptance for their tokens by committing assets to the Travala ecosystem. Participation would require purchasing AVA and a Travel Tiger NFT, activating Smart Diamond membership, and keeping AVA locked while the project’s token remains accepted. The announcement describes the planned participation model; the program has not yet launched.

Microsoft Stock Rises After Earnings Beat as Azure Growth Accelerates to 48%

Zabi
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0
Microsoft Stock Rises After Earnings Beat as Azure Growth Accelerates to 48%

Microsoft Corporation (NASDAQ: MSFT) shares rose about 1% to $535.11 in Thursday’s premarket trading after the company reported better-than-expected quarterly earnings and revenue, supported by accelerating growth in its Azure cloud business.

The technology giant reported adjusted earnings of $4.89 per share for its fiscal 2027 first quarter, exceeding analysts’ estimate of $4.72. Revenue rose 19% year over year to $92.28 billion, beating the consensus estimate of $90.61 billion.

Adjusted earnings per share increased 18% year over year. On a GAAP basis, Microsoft earned $4.92 per share, including the impact of its investments in OpenAI.

Azure Growth Accelerates as Microsoft Forecasts Further Gains

Azure revenue rose 48% year over year to $33.17 billion, up from 42% growth in the preceding quarter under Microsoft’s revised reporting basis, and exceeded analysts’ expectations. The broader Microsoft Cloud business, which includes Azure and other cloud services, generated $63.9 billion in revenue, up 30%.

Microsoft’s commercial remaining performance obligations, or contracted revenue not yet recognized, increased 73% year over year to $677 billion.

For its fiscal second quarter, Microsoft forecast Azure revenue growth of 49% to 50% year over year in constant currency, which excludes exchange-rate effects. That exceeded analysts’ 47.6% forecast.

The company also projected second-quarter revenue of $96 billion to $97.1 billion, above Wall Street’s estimate of approximately $95.6 billion.

Microsoft reported $45.2 billion in quarterly capital expenditures, including finance leases, compared with its approximately $50 billion projection. Chief Financial Officer Amy Hood attributed the shortfall to delays in deliveries of computing capacity from third-party providers.

Despite the lower-than-planned spending, Hood said capital expenditures would exceed $50 billion in the fiscal second quarter and were expected to accelerate during the second half of the fiscal year.

Separately, Microsoft has existing AI computing-capacity arrangements with Nebius and CoreWeave.

Operating cash flow reached $58 billion, up 29% year over year, while free cash flow totaled $18.6 billion, exceeding Visible Alpha’s estimate of $8.54 billion but declining about 27% from a year earlier.

Before Thursday’s premarket advance, Microsoft shares had closed at $531.01 on Wednesday following two consecutive regular-session declines. The stock had gained approximately 10.5% year to date through that close.

At the indicated premarket price, the shares remained about 2.9% below their 52-week intraday high of $551.15, reached on October 13.

Wall Street Raises Microsoft Price Targets Following Earnings

Several Wall Street firms increased their Microsoft price targets following the results while maintaining their existing ratings.

Wells Fargo raised its price target from $725 to $750 and maintained its Overweight rating. Bernstein SocGen Group raised its target from $662 to $722 and maintained its Outperform rating. Morgan Stanley also raised its target from $600 to $650 and maintained its Overweight rating.

Stifel raised its price target to $650 from $575 and maintained a Buy rating. Piper Sandler lifted its price target to $650 from $610 and maintained an Overweight rating, while Raymond James raised its price target to $650 from $630 and reiterated its Outperform rating.

Citizens lifted its target to $625 from $550 and maintained a Market Outperform rating. KeyBanc raised its target to $630 from $600 and retained an Overweight rating.

BMO Capital and Barclays each raised their targets to $610 from $600 and maintained their Outperform and Overweight ratings, respectively. Guggenheim raised its target to $595 from $586 and maintained a Buy rating.

Morgan Stanley cited Microsoft’s revenue growth, operating margins, and Azure performance as reasons for raising its price target. KeyBanc pointed to Azure expansion, Copilot-related revenue opportunities, and operating margins, while Bernstein highlighted cloud growth despite delays in additional computing capacity.

Separately, Microsoft Tokenized bStocks (MSFTB), a tokenized instrument distinct from Microsoft’s Nasdaq-listed shares, was trading at $535.50, up more than 1% over the preceding 24 hours, according to CoinMarketCap.

Cardano: Midnight Price Prediction: When Could NIGHT Hit $1? 

Lele Jima
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Cardano: Midnight Price Prediction: When Could NIGHT Hit $1? 

Following Midnight’s impressive rally earlier this month, proponents of the Cardano sidechain have been weighing the possibility of the token eventually reaching the $1 mark.

NIGHT recorded a significant price increase this month, climbing from around $0.028 in late September to $0.05247 on October 3, representing an 87.39% surge. However, the token has since retraced some of its gains and trades at $0.03904 at press time.

Despite the pullback, NIGHT remains up 37.3% over the past month, although it has declined 7.2% over the past week. Nevertheless, the recent rally has renewed speculation about the token’s potential to reach $1. 

NIGHTMIUSD 2026 10 29 09 58 33
NIGHTMIUSD 2026 10 29 09 58 33

NIGHT Has Never Reached $1

Notably, CoinMarketCap has displayed historical data suggesting that NIGHT reached $1.81 during its early days. However, the token has never traded near that level, a claim Cardano founder Charles Hoskinson has vehemently disputed. 

Instead, NIGHT recorded an all-time high of $0.1185 a few days after its launch. Consequently, a rally to $1 would establish a new all-time high for the token.

However, reaching this milestone would require a substantial price increase. At its current price of $0.03904, NIGHT would need to climb 2,461.5% to reach $1.

Such a rally would also push its market cap to $16.6 billion, assuming its circulating supply remains at 16.6 billion tokens. This valuation would place NIGHT among the top 20 crypto assets, provided competing cryptocurrencies do not experience comparable growth.

Potential Timeline for NIGHT to Reach $1 

Interestingly, prediction platform Telegaon suggests that NIGHT could eventually reach the $1 milestone by 2040, approximately 14 years from now. Its projection further suggests that the token could climb to around $1.25 during that period. 

NIGHT to $1 Forecast at Telegaon
NIGHT to $1 Forecast at Telegaon

Meanwhile, ChatGPT has outlined a scenario-based forecast identifying 2027–2028 as a speculative window to monitor for NIGHT’s potential rise to $1, although a rally could occur as early as late 2026 under favorable conditions.

Such an outcome would likely depend on several factors, including a bullish broader crypto market, increased staking participation, greater developer adoption, successful cross-chain integrations, and sustained demand for NIGHT.

Furthermore, the 2028–2030 period could give Midnight more time to attract institutional and commercial users, potentially strengthening its ecosystem and supporting long-term demand for the token.

However, this timeline represents a long-term forecast rather than a guaranteed outcome. NIGHT’s ability to sustain demand and expand its ecosystem over the coming years will likely influence its long-term price trajectory. 

ChatGPT $1 Price Forecast for NIGHT
ChatGPT $1 Price Forecast for NIGHT

Midnight Records Major Ecosystem Milestones

Meanwhile, the Midnight ecosystem continues to record notable developments that could support its long-term growth. These include integrations involving major blockchain ecosystems such as Ethereum and TRON, alongside the Midnight mainnet surpassing the one-million-transaction milestone.

These developments indicate growing activity and expanding interoperability ambitions. However, network milestones alone do not guarantee sustained token appreciation.

XRP Faces $617M Short Squeeze Trigger Between $1.30 and $1.31

Sam Wisdom Raphael
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XRP Faces $617M Short Squeeze Trigger Between $1.30 and $1.31

XRP could see a sudden price increase if it breaks above a major cluster of short liquidations between $1.30 and $1.31.

Currently, XRP changes hands at $1.2926, but data from the Coinglass Liquidation Heatmap shows approximately $617.7 million in short liquidation leverage concentrated between $1.30545 and $1.31023 on Binance’s XRP/USDT derivatives market. 

This range spans just 0.4% and sits roughly 1% above the current price, which makes it an important area to watch for a possible short squeeze.

Over $617 Million in Short Liquidations Sits Above XRP

Data reveals that the $617.7 million in liquidation leverage comes from a combination of three major clusters between $1.30 and $1.31.

The first cluster sits at $1.30545, where approximately $229.74 million in short liquidation leverage could face liquidation. This represents the second-largest individual cluster above XRP’s current price. 

XRP faces multiple clusters of short liquidation leverage above the current price
XRP faces multiple clusters of short liquidation leverage above the current price

The next cluster sits at $1.30784 and contains an estimated $205.88 million, while the third appears at $1.31023, with another $182.09 million.

These figures represent separate groups of short contracts with liquidation prices in different ranges. Together, the three clusters account for approximately $617.7 million in potential short liquidations.

If XRP rises above $1.30545, liquidations from the first cluster could help push the price toward $1.30784. A break above that level could trigger another round of forced purchases, potentially carrying XRP toward $1.31023. 

Coinglass identifies areas with large concentrations of leveraged positions as potential price magnets because market prices may move toward these zones. 

However, the heatmap only highlights possible areas of increased activity. It does not guarantee that XRP will reach these levels or trigger every liquidation.

Another $1.671 Billion in XRP Liquidations Sits Near $1.35

Meanwhile, above the $1.30-$1.31 range, data shows that the largest individual short liquidation cluster above XRP’s current price sits at $1.34608, with approximately $255.27 million in potential liquidations. Another $227.24 million cluster lies just above it at $1.34847.

Across the wider range between $1.34608 and $1.3652, Binance XRP/USDT derivatives data shows approximately $1.671 billion in short liquidation leverage spread across several adjacent price levels. 

If XRP breaks through the initial clusters between $1.30 and $1.31, the resulting buying pressure could help drive the price toward this larger concentration. Reaching this zone could trigger more forced purchases and accelerate XRP’s upward move.

Despite the large liquidation clusters, traders should treat the heatmap figures as estimates, not confirmed outcomes. 

Coinglass calculates leverage distribution using open interest and trading volume data instead of accessing exact exchange order books. As a result, the actual value of liquidations could be lower than the amounts displayed on the heatmap.

Technical resistance also poses a challenge. Current analysis places significant resistance between $1.35 and $1.42, a range that overlaps with the area containing $1.671 billion in potential short liquidations. 

Even if forced buying pushes XRP toward this zone, selling pressure could slow its advance or prevent it from moving higher.

Ripple CEO and Ex-CTO Reveal Where XRP Will Be in 5 Years at Swell 2026

Abdulkarim Abdulwahab
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Ripple CEO and Ex-CTO Reveal Where XRP Will Be in 5 Years at Swell 2026

Ripple CEO Brad Garlinghouse and former Chief Technology Officer David Schwartz have shared their outlook on XRP and Ripple’s future.

Speaking at Ripple Swell 2026, Garlinghouse described XRP as a foundational technology for Ripple’s expanding financial services business. He also outlined how the company hopes to move a portion of its growing transaction volumes onto blockchain networks.

Garlinghouse believes blockchain will eventually become as commonplace as the internet, changing how people manage money, receive payments, and invest.

“XRP is Our Best Interest” — Garlinghouse

When asked where XRP will be in five years, Garlinghouse said XRP would continue to establish itself as the “institutional gold standard for crypto rails.” 

He discussed Ripple’s business growth and how it creates opportunities for XRP. He described Ripple as a blockchain infrastructure company that initially focused on payments before expanding into corporate treasury services and prime brokerage.

According to the CEO, XRP remains foundational to the company’s strategy, although he acknowledged that it will not be the most suitable option for every transaction.

“Any place it makes sense, we’re going to prioritize XRP because candidly it’s in our own best interest,” he said.

Garlinghouse added that Ripple uses fiat currencies or its RLUSD stablecoin where those options better serve customers. He argued that focusing only on XRP’s share of transactions overlooks the opportunity created by growth in the overall payments market.

“If that means I’m going to use other methods, whether it’s fiat or a stable coin, RLUSD, that’s great because that still means I’m getting some of the pie,” he explained.

The executive also highlighted growth in Ripple’s customer base, saying its revenue had increased from $300 million to $900 million.

He referenced approximately $16 trillion in transaction value discussed at the previous year’s event, noting that nearly all of that activity relied on traditional financial rails. Garlinghouse said he hoped to report at next year’s event that 1% to 3% of that volume had moved onchain.

Schwartz Expects Mass Retail Adoption Within 5 Years

David Schwartz also discussed where XRP and Ripple could stand in five years. He predicted that blockchain technology would reach mass retail adoption by that time.

“Definitely there will be mass retail adoption like blockchain will be like the internet,” Schwartz said. “It will be how they manage their money. It will be how they get paid. It will be how they invest.”

He suggested that this transition could happen even sooner, with blockchain becoming an integral part of financial services within approximately three years.

Schwartz also pointed to the tokenization of real-world assets (RWAs) as an enabler of mass retail adoption. As more traditional assets move onto blockchain networks, he suggested, the technology could become accessible to more people for everyday financial activities.

XRP’s Future Depends on Institutional and Retail Adoption

Garlinghouse’s outlook places institutional adoption and the tokenization of traditional assets at the center of Ripple’s long-term strategy.

If more financial institutions move transactions onto blockchain networks, XRP could benefit where it is used to facilitate those activities. However, the CEO’s comments also make clear that Ripple intends to support different payment methods, including RLUSD, when they better fit a customer’s needs.

“I Don’t Need to Tell You What Comes Next”: Analyst Spots XRP Double Bottom and Bullish Divergence

Abdulkarim Abdulwahab
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“I Don’t Need to Tell You What Comes Next”: Analyst Spots XRP Double Bottom and Bullish Divergence

XRP analyst Mikybull Crypto believes its price could recover soon after spotting a double-bottom pattern and bullish divergence on its chart.

In a recent post on X, Mikybull Crypto wrote that XRP had formed a double bottom and bullish divergence, adding, “I don’t need to tell you what comes next,” suggesting that XRP could be preparing for a price increase.

These positive signals come as XRP price continues to decline. According to CoinMarketCap, XRP is trading at $1.29, down about 3% over the past 24 hours, 14% over the past month, and 30% since the start of 2026.

XRP Price Chart Signals Possible Recovery

In a chart shared by Mikybull, XRP was forming a double bottom, with two similar lows around the $1.20–$1.30 range. The pattern suggests that buyers are stepping in to support the price following its decline between August and October 2026.

Notably, the XRP/USDT daily chart shows a recovery in late August and early September, followed by a pullback and consolidation. This suggests that XRP is attempting to find support after its recent price swings.

XRP 1-Day Price Chart by MikybullCrypto Showing Double Bottom and Bullish Divergence
XRP 1-Day Price Chart by MikybullCrypto Showing Double Bottom and Bullish Divergence

Another key signal is bullish divergence on the chart’s lower indicator. The indicator’s lines suggest that downward momentum is weakening even as XRP struggles to move higher.

Mikybull Crypto has also drawn an upward-sloping purple line across recent price highs, marking a resistance area around $1.60 that XRP would need to break above to strengthen the bullish outlook.

At the time the chart was shared, XRP was trading near $1.3349. Holding above the $1.20–$1.30 support zone and breaking through resistance would strengthen the bullish case. A drop below the double bottom’s lows, on the other hand, would weaken the possibility of a rebound.

Whales Hold 68.5% of Supply

Mikybull has also pointed to large XRP holders as another reason to watch the cryptocurrency closely. The analyst shared Santiment data showing that wallets holding at least 10 million XRP control 68.5% of the circulating supply. He said this was the highest level since November 2022.

He views this as a positive sign that bulls are preparing for a surge. Meanwhile, when he shared the data, XRP was trading at around $1.33. It has since fallen to approximately $1.29.

Despite the price decline, Mikybull Crypto remains optimistic. Two days earlier, he told his followers that XRP’s “biggest parabolic rally” was “loading.” He also shared a chart showing a possible rise to $8 and advised investors to “accumulate and wait.”

In sum, the analyst remains bullish on XRP, but it is still unclear when a recovery might occur or how high the price could go.

Alphabet Stock Plunges 10% as Search Ad Growth Slows Despite Rising AI Demand

Zabi
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0
Alphabet Stock Plunges 10% as Search Ad Growth Slows Despite Rising AI Demand

Alphabet (NASDAQ: GOOGL) shares fell more than 10% to $291.49 in pre-market trading Thursday after the Google parent reported weaker-than-expected third-quarter earnings, as slowing search advertising growth and heavy artificial intelligence spending overshadowed strong demand for its cloud services.

Alphabet reported diluted earnings of $2.12 per share for the quarter ended September 30, down from $2.87 a year earlier. An $8.7 billion loss on equity securities reduced earnings by $0.55 per share. Excluding that loss, earnings per share were $2.67, below the analyst consensus estimate of $3.02.

Revenue rose 25% year over year to $127.6 billion, below the $127.97 billion analyst consensus estimate compiled by FactSet.

Search Advertising Slows Despite Faster Query Growth 

Google Search and other advertising revenue rose 12% to $63.35 billion, compared with 17% growth in the second quarter and 19% in the first quarter. The latest increase marked the unit’s slowest growth in five quarters.

The slowdown contrasted with stronger search activity. Alphabet CEO Sundar Pichai said Google Search recorded its fastest year-over-year query growth in five years, supported by increasing use of AI-powered search features.

During Wednesday’s earnings call, Chief Business Officer Philipp Schindler said foreign-exchange effects were the largest contributor to the slowdown from the previous quarter. He also cited pressure among some Asia-Pacific retail advertisers affected by the EU’s removal of an exemption for low-value imports, along with media and entertainment ad spending returning to typical levels after unusually strong FIFA World Cup-related spending in the second quarter. He separately identified lower monetization of AI Mode queries as a factor.

Schindler said Google was expanding ads in AI Mode into international markets and introducing additional ad formats in the United States to increase revenue from AI-powered searches.

Cloud Revenue Surges as AI Spending Pressures Cash Flow

Google Cloud, meanwhile, reported revenue of $30.71 billion, up 103% year over year, supported by demand for AI infrastructure and enterprise services as well as sales of TPU systems built around Google’s custom AI chips. Its order backlog reached $561 billion, and Alphabet expects to recognize slightly more than 55% of the backlog as revenue over the next 24 months.

Alphabet reported quarterly capital expenditures of $51.4 billion and negative free cash flow of approximately $9.1 billion, marking its second consecutive quarter of negative free cash flow. The company’s cash flow also reflected a $5.2 billion payment related to a 2018 European Commission fine and inventory purchases to support TPU system sales.

Chief Financial Officer Anat Ashkenazi maintained the company’s 2026 capital spending forecast of $195 billion to $205 billion and said expenditures were expected to increase significantly in 2027.

Alphabet Shares Retreat as Wall Street Cuts Price Targets

Alphabet shares closed Wednesday’s regular session at $324.89, up 1.34% ahead of the earnings release. Thursday’s indicated premarket price placed the stock approximately 28.7% below its 52-week high of $408.61.

Separately, Alphabet Tokenized bStocks (GOOGLB) traded at $290.88, down 11% over the past 24 hours, according to CoinMarketCap. The tokenized instrument trades separately from Alphabet’s Nasdaq-listed shares. 

Several Wall Street firms reduced their price targets following the earnings report, while Citizens downgraded Alphabet from Market Outperform to Market Perform. Citizens cited a roughly five-percentage-point slowdown in search revenue growth from the second quarter to the third quarter, as well as difficulties monetizing AI-powered search.

Morgan Stanley lowered its target to $375 from $400 while maintaining an Overweight rating. Bernstein SocGen Group reduced its target to $325 from $385 and retained Market Perform. 

Barclays lowered its price target to $405 from $425 and maintained its Overweight rating, while KeyBanc reduced its price target to $385 from $410 and kept its Overweight rating unchanged.

Oracle Stock Pulls Back After Investor Day Rally as Alphabet Earnings Weigh on AI Shares

Zabi
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0
Oracle Stock Pulls Back After Investor Day Rally as Alphabet Earnings Weigh on AI Shares

Oracle (NYSE: ORCL) shares slipped 3% to $140.36 in early premarket trading Thursday, reversing some of Wednesday’s Investor Day-driven advance as AI-related tech stocks weakened amid investor disappointment over Alphabet’s third-quarter earnings.

Google’s parent company’s shares dropped roughly 10% in extended trading after its quarterly revenue and adjusted earnings missed Wall Street expectations. Nasdaq-100 futures also fell more than 1% Wednesday evening, reflecting broader pressure on technology stocks following the report.

Alphabet’s Earnings Renew Concerns Over AI Infrastructure Spending

Alphabet reported third-quarter revenue of $127.58 billion, up 25% from a year earlier but below the FactSet consensus estimate of $127.97 billion.

Net income available to common shareholders declined approximately 25% to $26.17 billion. GAAP diluted earnings were $2.12 per share. An $8.66 billion loss on equity securities reduced earnings by $0.55 per share after tax; excluding that effect yields $2.67 per share, below the $3.02 consensus estimate from analysts surveyed by FactSet.

Alphabet also recorded negative free cash flow of $9.1 billion, its second consecutive quarterly shortfall, as capital expenditures reached $51.4 billion. Inventory purchases for its custom AI processors and a $5.2 billion payment related to a European Commission fine also weighed on operating cash flow.

Chief Financial Officer Anat Ashkenazi said capital spending would rise significantly in 2027, after the company projected spending between $195 billion and $205 billion for 2026.

The spending outlook contrasted with continued growth in Alphabet’s cloud business, where quarterly revenue surged 103% to $30.7 billion. Companywide operating income also increased 30%.

Google Search & other revenue rose 12% year over year to $63.35 billion, slowing from 17% growth in the previous quarter. Alphabet’s $82.01 billion in advertising revenue was also approximately $1.4 billion below analysts’ expectations.

Rising infrastructure costs, combined with weaker-than-expected earnings, renewed concerns about the cash requirements of large AI investments, a financial issue Oracle also faces as it expands its cloud computing capacity.

Oracle Retains Much of Wednesday’s Gain Despite Premarket Pullback

Oracle closed the previous regular session at $144.54, up 10.73% from $130.53. Trading volume reached 81.9 million shares, approximately 2.7 times the three-month daily average of 30 million shares.

At the indicated premarket price, Oracle remained about 7.5% above its pre-rally closing price, though it had retreated about 5.5% from the previous session’s intraday high of $148.48.

Separately, Oracle Tokenized bStocks (ORCLB) traded at $141.30, up 7.27% over the preceding 24 hours, according to CoinMarketCap. The tokenized instrument is distinct from NYSE-listed Oracle shares and measures performance over a different trading period.

Oracle’s regular-session rally followed its Investor Day in Las Vegas, where co-CEOs Clay Magouyrk and Mike Sicilia and CFO Hilary Maxson outlined financial targets through fiscal 2030.

Oracle expects annual revenue to reach at least $225 billion by fiscal 2030, representing compound annual growth exceeding 35% from fiscal 2026. The company also projected positive free cash flow during the second half of fiscal 2028 and at least $30 billion in fiscal 2029.

To support its expansion, Oracle said it expects to raise no more than $20 billion in additional capital through fiscal 2030, comprising $10 billion in equity and $10 billion in gross debt. The limit excludes refinancing existing debt and is separate from the $20 billion equity raise completed during the first quarter of fiscal 2027.

Oracle expects capital expenditures to peak during fiscal 2027 and 2028 before declining in fiscal 2029. The company also identified vendor financing, customer-provided hardware, and customer prepayments as measures expected to reduce upfront cash requirements.

These projections address Oracle’s longer-term funding needs, while Thursday’s premarket decline follows renewed market scrutiny of AI infrastructure spending after Alphabet’s results.

Ripple’s RLUSD Leads Stablecoin Growth with $1B Inflows, as USDT Loses $2.5B

Sam Wisdom Raphael
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Ripple’s RLUSD Leads Stablecoin Growth with $1B Inflows, as USDT Loses $2.5B

Ripple stablecoin RLUSD has recorded over $1 billion in net inflows over the past 90 days, making it the fastest-growing stablecoin during this period. 

Data from RWA.xyz shows that RLUSD is the only stablecoin to attract more than $1 billion in net inflows over the past three months, which puts it ahead of every other stablecoin in the market.

Capital Moving from Established Names to Newer Stablecoins

Further market data confirms that while several other stablecoins also attracted significant inflows over the same period, none matched RLUSD. 

Specifically, Ethena USDe ranked second with $753 million in net inflows, followed by Falcon USD with $464 million, USDS with $358 million in net inflows, and Global Dollar with $326 million. Meanwhile, USX recorded outflows worth $321 million.

RLUSD emerges as the fastest growing stablecoin in the past 90 days
RLUSD emerges as the fastest growing stablecoin in the past 90 days

Interestingly, the two largest stablecoins have seen net outflows within the same period. Notably, USDC recorded $1.6 billion in net outflows over the past 90 days, while Tether USDt saw outflows reach $2.6 billion, the largest decline among the stablecoins tracked. 

This trend suggests that capital may be moving from established names toward newer stablecoins with a stronger focus on regulatory compliance.

RLUSD Sees Mixed Metrics

RLUSD’s current metrics also confirm its impressive growth. While RWA.xyz data shows the stablecoin had a market cap of $2.55 billion at press time, up 3.34% from 30 days earlier, other market analytics platforms put the figure at $2.6 billion.

In addition to this, monthly transfer volume recorded a much larger change, climbing to $21.45 billion after increasing 45.74% in 30 days.

RLUSD records mixed metrics amid overall market value growth
RLUSD records mixed metrics amid overall market value growth

However, not all of RLUSD’s activity metrics have seen a positive trend. The stablecoin had 78,238 holders, representing a 5.84% decline over the previous 30 days, while monthly active addresses fell 28.03% to 8,223. 

Ripple Expanding RLUSD’s Footprint

RLUSD launched in December 2024 under a trust company charter from the New York Department of Financial Services (NYDFS). Ripple developed the stablecoin primarily for cross-border payments, with regulatory compliance at the center of its design. 

RLUSD surpassed $1 billion in market capitalization within its first year, recording year-to-date growth of 1,278% at that point.

The stablecoin also became the first to receive an investment-grade rating from Moody’s based on an assessment of its reserves. 

In late 2025, Ripple received initial approval for a federal trust bank charter from the Office of the Comptroller of the Currency (OCC). This put RLUSD on track to become the first stablecoin operating under both state and federal regulatory oversight in the United States. 

By August 2026, Ripple confirmed that RLUSD had exceeded $2 billion in market value within roughly two years of its launch, with nearly 1 billion tokens issued directly on the XRP Ledger.

Institutional adoption has also contributed to RLUSD’s expansion. BlackRock’s USD Institutional Digital Liquidity Fund adopted RLUSD as a settlement asset through Ripple’s partnership with Securitize, a tokenization platform. 

LMAX Group also integrated the stablecoin into its institutional trading platform following a $150 million financing commitment from Ripple.

RLUSD has since expanded to Coinbase, with Ripple planning to bring the stablecoin to Robinhood’s retail trading app before the end of 2026. The company also expects its annualized product revenue to approach $900 million by year-end.

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