XRP Rebound Possible as Stablecoin Supply Soars and Futures Open Interest Explodes

Despite a 23% drop from its peak this year, XRP price shows signs of potential rebound in September. This comes with the surge in Ripple USD (RLUSD) stablecoin supply, reaching $701 million and breaking record highs. The growing RLUSD is bolstering the utility of the XRP Ledger. Furthermore, CME XRP futures are witnessing unprecedented growth, surging to a record high of $1 billion in open interest. This rapid increase underscores strong demand for XRP assets in the financial world.