XRP News: Binance Expands Support for XRP Rewards and Ripple’s RLUSD Stablecoin

In major XRP news today, Binance crypto exchange extended its support for the coin and Ripple’s RLUSD stablecoin on Thursday. The world’s largest crypto exchange will airdrop XRP coins to RLUSD holders, significantly boosting RLUSD market cap further and strengthening ties between companies.

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Binance Announces XRP Rewards for All RLUSD Holders

Binance, the crypto exchange founded by CZ, is launching a four-week airdrop campaign starting September 25 that will distribute $800,000 worth of XRP to users who hold Ripple USD (RLUSD).

Compared with the earlier XRP rewards launch, the exchange will now allow all users across Spot, Funding, Earn, and Margin accounts to earn XRP payouts every Friday until October 23. Users will get additional rewards for growing RLUSD holdings or parking funds in RLUSD Simple Earn.

However, Binance announced a 60% haircut for RLUSD acquired through borrowing other stablecoins in Margin. The exchange will account for liabilities in Margin Accounts from other stablecoins, including USDT, USDC, U, USD1, and FDUSD.

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Eligibility and How Rewards Are Calculated

Users become eligible by holding a RLUSD stablecoin balance of at least 0.01 in the above-mentioned accounts. Snapshots are taken hourly, with the lowest daily balance becoming that day’s qualifying balance. Weekly XRP rewards use a 7-day average of the qualifying balance multiplied by an effective APR that Binance will publish each Friday.

“Sub-account balances are aggregated at the Master Account level for calculation, and rewards are distributed only to the Master Account. For Broker accounts, the rewards will be distributed to virtual sub-accounts,” stated Binance.

There is no individual cap and each user’s share depends on their qualifying balance relative to the whole pool. Restricted accounts and users in listed jurisdictions, including the US, UK, EU countries, Canada, and others, are excluded.

Binance Pushing RLUSD Market Cap and XRP Price Higher

RLUSD stablecoin’s market cap has surged from $1.51 billion since Binance launched the XRP rewards campaign to almost $2.45 billion. RLUSD market cap is $2.37 billion today.

In recent news, Ripple integrated XRP and RLUSD stablecoin support for AI agent payments on Stripe and Tempo’s Machine Payments Protocol.

Meanwhile, XRP pared earlier gains and fell 6% ahead of monthly crypto options expiry. Price is currently trading at $1.51 after dropping from the 24-hour high of $1.64. Trading volume has also fallen 18% over the past 24 hours.

CoinGlass data showed buying activity in the derivatives market in the last few hours. The total XRP futures open interest fell nearly 9% to $3.60 billion in the last 24 hours. However, the 4-hour XRP futures OI climbed 1.26%, with 1.51% on CME and 1.07% on Binance.

As CoinGape reported, XRP surpassed Hyperliquid and Zcash in futures open interest amid massive buying on derivatives exchanges CME and Binance. Analysts have predicted a massive upcoming XRP price rally.