Open Interest in XRP Zooms to $1B as Ripple Tests RLUSD Stablecoin
Summary
Open interest in XRP tokens has surged due to excitement over RLUSD, a stablecoin under development by Ripple Labs. Significant RLUSD minting suggests the testing phase is advancing. Open Interest (OI) measures outstanding derivative contracts; an increase with rising prices indicates new market inflows. Ripple confirmed RLUSD is in private beta on XRP Ledger and Ethereum, warning of scams. RLUSD aims to enhance cross-border payments and integrate with DeFi protocols. XRP futures bets exceeded $1 billion, with Binance and Bybit leading. Spot trading volumes reached $2.5 billion, and XRP's price rose 7.4% in the past week.
