XRP Reaches Monthly High as Ripple Expands Services in Brazil

XRP surged to $1.60 late Monday, marking its highest level in a month. According to NS3.AI, this increase coincides with Ripple's expansion of digital asset services in Brazil and its intention to apply for a Virtual Asset Service Provider (VASP) license. Over the past two weeks, XRP open interest has climbed 33% to $2.82 billion, indicating heightened participation in derivatives markets. Ripple's new offering in Brazil integrates cross-border payments, custody, brokerage, and treasury management for banks and fintech companies.