Clearpool holders approved a 97.16% migration vote from Ethereum-based CPOOL to XRP Ledger-based CLEAR, as reported by multiple sources. The vote represents a significant institutional move to XRPL, with each CPOOL token to be exchanged for one CLEAR token. The migration is expected to bring approximately 1.1 billion CLEAR tokens to the XRP Ledger at launch, strengthening XRPL's institutional-credit offering capabilities. According to reports, the migration was reported on October 5, 2026, with the transition targeted for Q4 2026. The switch to a new token changes the blockchain where transactions are recorded and network fees apply, but it does not change the borrowers or the loan amounts - similar to a store changing its card processor while serving the same customers and making the same sales.
Despite the migration, XRP's role remains limited in the new structure. According to multiple reports, Clearpool's planned loans will be denominated in RLUSD, Ripple's dollar-pegged stablecoin, rather than XRP. XRP's primary function will be paying small XRP Ledger fees, which are burned, creating transaction-level XRP usage but not demonstrable buying demand for the token. The project plans to direct half of its protocol fees toward buying back and burning CLEAR tokens, supporting the migrated protocol token rather than XRP. As reported by TradingView News, the distinction between RLUSD usage and XRP demand is significant, as using a dollar stablecoin does not equate to needing XRP for loans. A stablecoin is designed to maintain a value equivalent to a currency, meaning one RLUSD is expected to always be worth $1, allowing borrowers and lenders to transact in dollars on Ripple's network without holding XRP.
Clearpool has established itself as a significant player in private credit markets, facilitating more than $930 million in institutional loans since 2021, as reported by the source. The company's institutional-credit strategy already involves Ripple and other partners, with Ripple, Clearpool, and Cicada Partners establishing a credit fund on August 21. Ripple serves as a limited partner, providing capital without managing the fund, while Cicada evaluates borrowers and Hex Trust oversees assets. The fund aims to lend to fintech companies, payment processors, and cryptocurrency firms, with loans made in RLUSD. The token migration changes how transactions are recorded but does not affect Clearpool's borrowers or loan sizes, as the Ethereum marketplace will continue to operate alongside the XRPL expansion.
As of the reporting date, XRP was approximately 50% lower over the preceding year and roughly 59% below its July 2025 all-time high of $3.65, according to the source. The migration and new institutional product announcement require substantial and demonstrable flow of incremental demand to move price materially. The primary article notes that XRP was down 50% over the prior year and about 59% below its reported $3.65 all-time high from July 2025, with XRP's market capitalization near $95 billion and approximately 63.1 billion tokens circulating against a maximum supply of 100 billion. A project migration alone is a small demand signal for an asset of that scale, with Ripple continuing to release XRP from escrow reserves over time as another supply factor investors may weigh alongside any new demand. The switch to the XRP Ledger primarily benefits Ripple's network rather than directly boosting the XRP price, while the XRP Ledger gains a functional credit platform and increased activity in RLUSD.
