Ripple Labs has continued to mint and burn its RLUSD stablecoin as it advances its beta testing hinting launch is soon.

Open interest in XRP has surged past $1 billion amid growing enthusiasm for Ripple's forthcoming RLUSD stablecoin, currently in private beta

Open interest in %Cryptocurrency XRP (CRYPTO: $XRP ) has surpassed $1 billion U.S. as Ripple Labs tests a new %Stablecoin (RLUSD). Open Interest refers to the number of outstanding derivative contracts not settled for an asset such as XRP.

XRP open interest hit a peak of $1 billion on Sunday and decreased since then, down to $846 million on Wednesday. Ripple Labs tests its stablecoin RLUSD, minting large volumes of the asset and fueling interest among market participants. XRP steadies around support at $0.6000 and trades positive on the day.