Quick overview

Live XRP/USD Chart

---

Cardano founder Charles Hoskinson has expressed his stance on the Coinbase and Ripple controversy, amid reports that both companies were attempting to acquire stablecoin issuer Circle.

 

Cardano’s chief defended Ripple in a recent “Ask Me Anything” YouTube video, stating that the cryptocurrency ecosystem can be strengthened by the payment company’s purchase of Circle. “Ripple’s acquisition of Circle would raise antitrust issues.

“It would improve the space, in my opinion,” he claimed. Hoskinson continues to be critical of the current cryptocurrency ecosystem, stating that it has been centralized through concerted efforts, making it challenging for projects outside these in-groups to succeed.

Coinbase and Ripple are reportedly bidding to acquire Circle, according to Hoskinson, who claimed that a “Coinbase A16Z Circle mafia” is committed to establishing an exclusive network within the crypto industry

Recent spike in XRP open interest aligns with a bullish trend in the cryptocurrency market.

Investors’ optimism is not isolated but rather a component of a broader market recovery. A strategic positioning by traders expecting further price appreciation is reflected in the capital inflow into XRP derivatives.

Furthermore, improved price discovery and volatility are frequently the results of derivatives markets’ increased participation, which can attract more capital and traders.