Ripple's XRP Sees Monthly High as Brazil Expansion Heats Up
XRP has reached its monthly high price of $1.60 as Ripple continues to expand its services in Brazil.
The token's open interest has risen by 33% over the past two weeks, reaching $2.82 billion according to CoinGlass, indicating fresh capital entering derivatives markets and growing conviction among traders.
This price move coincides with Ripple announcing an expansion of its digital asset services in Brazil, which includes a bundled platform for cross-border payments, crypto custody, brokerage, and treasury management tools targeting banks and fintechs.
Ripple has been expanding its presence in Brazil since 2020, when it first spoke with the Central Bank about institutional matters. The company launched its payments service in Brazil through local exchange Mercado Bitcoin in 2024.