Ripple (XRP) Open Interest Dips Below $5B as JP Morgan Partners 3 US Banks Against Ripple’s RLUSD Stablecoin
The post Ripple (XRP) Open Interest Dips Below $5B as JP Morgan Partners 3 US Banks Against Ripple’s RLUSD Stablecoin appeared on BitcoinEthereumNews.com.
Ripple (XRP) price plunged 5.2% in the past 24 hours to trade at $2.31 on Saturday, underperforming top five rivals. Derivatives data shows short-term traders rapidly closing out positions, even as Bitcoin (BTC) hit a new all-time high of $111,807. What’s next for XRP price? Ripple (XRP) Reverses to $2.31 Despite Bullish Bitcoin Outlook Ripple (XRP) fell behind the broader crypto rally on Friday, weighed down by macro turbulence and fresh sector-specific risks. While Donald Trump’s 50% tariff threats on the EU triggered fresh institutional demand for Bitcoin on Friday, XRP failed to catch the rally. Ripple XRP price action, May 24, 2025 | Coingecko According to CoinGecko data, XRP declined 5.1% from Friday’s $2.44 to open trading at $2.31 on Saturday. In contrast, Bitcoin surged to a record high of $111,807, fuelled by $934 million in daily ETF inflows—the second highest daily total since inception. With 5.2% losses XRP emerged as the worst-performing top-five asset by market cap. Notably, BTC, Ethereum, Solana, and BNB all outperformed XRP, each posting daily timeframe losses capped under 5% at the time of publication. Why is XRP Price Down Today? XRP price underperformance on Friday reflects growing concerns among investors about Ripple’s ability to compete in the global stablecoin market, especially after JPMorgan’s leads a group of four legacy banks, floating the idea of a new Wall Street-native digital dollar project. On Friday, Wall Street Journal reported that the largest U.S. banks, JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are exploring the launch of a joint USD-backed stablecoin. The plan, still in the conceptual stage, involves utilizing blockchain infrastructure providers like Early Warning Services and The Clearing House to improve payment speed, reduce cross-border friction. This could see Wall Street Big wigs encroach market share from existing stablecoins launched by crypto-native…
Filed under: News - @ May 24, 2025 6:29 am