‘XRP at Convergence Point,’ Ripple Exec Breaks Silence on Current Momentum

The last 24 hours have seen major developments for XRP, RLUSD and the XRP Ledger ecosystem.

The world’s leading derivatives marketplace, CME Group, announced that Spot-Quoted XRP futures are live and ready to trade. This allows traders to trade the known XRP spot price on regulated U.S. exchanges with bite-sized contracts and low margin.

Ripple took a crucial step toward a multichain future, with the launch of RLUSD on its first layer-2 (L2) networks ahead of an official debut next year (pending regulatory approval). Testing will begin on Optimism, Base, Ink and Unichain, in partnership with leading multichain interoperability protocol Wormhole and its NTT token standard.

Recent weeks have also seen significant announcements for XRP and Ripple. Toward last weekend, Hex Trust announced the issuance of wXRP for cross-chain interoperability, starting with Solana, a step that will make it significantly easier for XRP holders to use XRP alongside RLUSD as a premier trading and liquidity pair on supported chains.

Ripple has been granted an OCC charter, which would ultimately provide RLUSD with both state and Federal oversight, a dual regulatory structure that no stablecoin currently holds.

Ripple Payments sees its first European bank adoption with AMINA Bank. The new partnership marks the next step in Ripple’s expanding relationship with AMINA Bank, building on their earlier adoption of RLUSD.

XRP at convergence point

Ripple Senior Executive Officer/Managing Director, Middle East and Africa, Reece Merrick explains the push behind XRP and Ripple’s current momentum.

Merrick reacted to the launch of Spot-Quoted XRP futures on CME group, which indicated institutional interest, with an XRP community member asking him afterwards why everything seems to be speeding up, “Suddenly, years are happening in weeks,” he added.

Merrick answered that in his view, everything feels fast for XRP because a “convergence point” has finally been reached. He added that for years the tech, the market and the regulators were moving at different speeds, but now they are syncing up.

“Now, more than ever, it feels like they are syncing up,” the Ripple executive added.

In a major milestone, XRP spot ETFs have recorded 30 consecutive days of inflows surpassing $1 billion, contrasting with outflows from BTC and ETH ETFs.