: details
“Brad Garlinghouse”, the CEO of Ripple, celebrated the latest achievement of the currency, after XRP became the fastest digital asset to reach one billion dollars in terms of open interest on the Chicago Mercantile Exchange (CME) futures contracts, joining major currencies like Bitcoin, Ethereum, and Solana in what is known as the “One Dollar Club”.
This achievement contributed to pushing the total nominal open interest in the digital asset market to over $35 billion for the first time on August 22.
The official account of the CME Group on X confirmed that the digital market was hotter than the temperature during the month, referring to the notable activity in derivatives trading.
Despite the praise expressed by “Garlinghouse” in his post, it sparked varied reactions.
Where the well-known commentator “Charlie Crypto” downplayed the achievement, questioning why this institutional activity has not reflected on the actual price of XRP, which has not recorded a clear increase in recent weeks and has remained far from its historical peak of $2.9.
The same speaker also raised questions about the absence of XRP exchange-traded funds in the US market, and the continued delay by the Securities and Exchange Commission (SEC) in issuing a decision regarding them.
He also raised doubts about the actual size of institutional trading on the XRP ledger, despite reports indicating that the network is recording large numbers and enjoys high energy efficiency.
In contrast, a number of followers showed clear support for “Garlinghouse's” post, pointing out that the demand for XRP exceeds the available supply, which may reflect latent strength in the market that has not yet translated into direct price movement.
