XRP sellers face massive slip as USD order book depth fakes size
Summary
XRP Ledger order-book quotes for Bitstamp-issued USD tokens substantially overstated funded liquidity: a Nov. 4 sample showed 1.28 million quoted tokens but only 56,887 funded, largely due to one oversized offer. A Nov. 5 sample showed a similar gap. RLUSD offers were much closer to funded amounts, though not fully funded in the later sample. Modeling a 50,000-XRP sale against sampled Nov. 5 liquidity exhausted Bitstamp-dollar offers after about 47,484 XRP, while RLUSD offers handled the full sale. RLUSD’s AMM pool was also far larger than the Bitstamp-dollar pool. Quoted balances are not equivalent to tradable inventory, and neither token automatically represents cash: redemption depends on issuer eligibility and terms.
