XRP Becomes Loan Collateral on Ethereum as Three Wallets Dominate $7.2M Morpho Market
- —7.18 million RLUSD borrowed against 10.76 million FXRP
- —Three addresses hold 93% of the $7.2 million debt
- —Sentora supplied 8.53 million RLUSD of the 10 million limit
- —Largest position can absorb a 45% drop in the FXRP-to-RLUSD ratio
Why it matters: XRP gains a new credit use case, but heavy concentration among a few wallets leaves the market exposed to a single repayment or liquidation.
Source: CryptoSlate