TL;DR

Brad Garlinghouse, the CEO of Ripple, has taken to X to reshare a post from CME Group about a record posted by the companys native cryptocurrency. The community was quick to pick up the praise and ask some questions about XRPs price and ETFs. Per @CMEGroup data, XRP Futures contracts were the fastest-ever (just over 3 months) to hit $1B in open interest. https://t.co/4wYYJqXhSv

CryptoPotato reported last week that the XRP had become the fastest cryptocurrency to reach $1 billion in open interest on CME futures and joined the likes of BTC, ETH, and SOL in the so-called $1 club.

This helped the entire digital asset cohort to top $35 billion in notional open interest for the first time on August 22. CME Groups official X account outlined the records set in August, indicating that the crypto space was hotter even than the temperatures during that month.

Garlinghouse, who recently issued an important warning for all XRP holders, praised the move on X, but his post was followed by some controversy.

Charley Crypto downplayed the record, asking why the underlying assets price has failed to make a major move in the past few weeks and is stuck below $2.9. The commentator also queried about the XRP ETFs in the US and why the SEC continues to delay making a decision.

Lastly, Charley questioned the institutional volume on the XRP Ledger, even though the network has posted some big numbers as of late and reports claim that its energy usage is rather negligable.

Others, though, were more supportive of Garlinghouses post, indicating that the demand for XRP is seemingly outstripping the available supply.