Yield-Bearing Version of XRP, mXRP, Sold Out in One Hour, Strobe Finance Expands Supply Cap

Analysts view mXRP as a “perpetual buyer” of demand for XRP.

The launch of mXRP, a yield-bearing version of XRP, sparked massive demand on its very first day. Strobe Finance, the XRPL-based DeFi platform behind the launch, confirmed that the initial cap was sold out in less than an hour, forcing the team to raise the supply cap to 882,000 mXRP.

Yield XRP (mXRP) is rapidly gaining traction

mXRP, developed by Midas and Interop Labs (creators of the Axelar interoperability protocol), is designed to bring idle XRP reserves into the decentralized finance system. It is a transferable ERC-20 token issued on the XRP Ledger EVM sidechain, which can be composed across DeFi platforms.

Holders earn a base yield of 6–8%, paid directly in XRP, along with additional opportunities to use the token in lending pools, liquidity platforms, and other Axelar-related yield strategies. The rapid sellout highlights growing interest in yield-bearing XRP products, particularly those integrated with DeFi’s cross-chain infrastructure.

Why timing influenced demand

Most crypto analysts are not surprised by the massive demand for mXRP, given the timing of its launch. It is important to note the increasing discussions about potential rising demand for XRP, as well as growing awareness of stable crypto yields. This, along with other fundamental factors, is driving significant user inflows into mXRP.

Meanwhile, XRP has faced significant selling pressure over the past 24 hours, despite growing demand within its ecosystem. TradingView data shows the cryptocurrency fell 7.5% in 24 hours, dropping below the $2.81 support and trading at $2.72 at the time of writing.

Nevertheless, users remain optimistic about an upcoming recovery, given the potential demand for the native XRP token that projects like mXRP will generate. According to Georgios Vlachos, co-founder of Axelar, the mXRP structure will introduce a “perpetual buyer” mechanism that could ensure sustained demand in the XRP market. Vlachos estimates that if assets under management reach $10 billion by 2026, a 7% yield would create annual buying pressure of $700 million worth of XRP.

See also: "Record $21 Billion in Bitcoin and Ethereum Options Expire Today: Market on Edge"

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