Ripple’s XRP has climbed back to a position it hasn’t held in weeks.
XRP surged past BNB to rank as the fourth-largest cryptocurrency by market value, fueled by reports that Ripple is expanding its payment services in Brazil and intends to apply for a local operating license.
XRP has remained largely flat over the past 24 hours but is up 7% on the week, currently trading hands around $1.52, according to CoinGecko data. The token momentarily climbed to $1.60 late Monday, marking its highest level in the past month.
Meanwhile, BNB has slipped 0.6% over the past 24 hours to around $671 and is up just 2.6% on the week, paving the way for XRP to overtake it in market capitalization.
XRP’s rally has also been buoyed by a surge in open interest, which has climbed to $2.82 billion, according to CoinGlass— marking a 30% increase over the past two weeks. Rising open interest typically points to fresh capital flowing into derivatives markets and growing confidence among traders.
 
Ripple’s Big Brazil Play
Meanwhile, Ripple is deepening its push into new markets by expanding Ripple Custody services in Brazil and is preparing to apply for a license from the country’s central bank.
On Tuesday, Ripple announced the launch of an expanded suite of services, combining cross-border payments, digital asset custody, brokerage, and treasury tools. The integrated platform is designed for banks and fintechs seeking to transfer funds internationally, store crypto assets, and manage liquidity all within a single system.
The company also revealed plans to seek a Virtual Asset Service Provider (VASP) license from the Central Bank of Brazil, aligning with the nation’s cryptocurrency regulations.
“Latin America has always been a priority market for Ripple—not just because of the scale of the opportunity, but because Brazil has built one of the most advanced and forward-thinking financial ecosystems in the world,” Ripple President Monica Long said in a statement.
Ripple has maintained a long-standing presence in Brazil, gradually expanding its services over the years. Today, its solutions support financial operations for institutions such as Banco Genial and Braza Bank, enabling same-day USD disbursements, cross-border payments, and stablecoin settlements via RLUSD, its dollar-pegged stablecoin.
As part of its expansion, Ripple plans to apply for a Virtual Asset Service Provider (VASP) license with the Central Bank of Brazil.
In 2024, Ripple introduced its payments service in Brazil through the local crypto exchange Mercado Bitcoin. Now, Brazilian institutions will gain access to Ripple Prime and Ripple Treasury—the firm’s prime brokerage and treasury management solutions—designed to provide a full, modern financial stack tailored for the digital economy.
The company, which CEO Brad Garlinghouse described last month as viewing XRP as its “north star,” recently launched a share buyback program that values the firm at a staggering $50 billion. Garlinghouse also recently revealed that he believes Ripple has the potential to reach a $1 trillion valuation.
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