Binance has launched an $800,000 XRP airdrop campaign targeting holders of Ripple's dollar-backed stablecoin RLUSD, aiming to boost activity around the token. The exchange will distribute weekly XRP rewards every Friday from July 17 to August 14 to eligible users who hold RLUSD in Binance Earn, Margin, or Futures accounts and meet minimum trading volume requirements.
Airdrop eligibility and rules
To qualify, participants must maintain at least 0.01 RLUSD in eligible accounts and record an average daily Margin or Futures trading volume of $500 or more across any trading pairs during the promotion period. Binance applies a 60% haircut on RLUSD obtained by borrowing other stablecoins like USDT, USDC, U, USD1, and FDUSD in Margin accounts after liabilities are calculated. Broker accounts are also eligible with no individual cap on payouts, though the campaign is restricted in certain jurisdictions due to local regulations.
The initiative comes as RLUSD's market cap has slipped to about $1.51 billion, down over 10% from its peak above $1.81 billion in June following the rollout of 24/7 settlement on the XRP Ledger with Mastercard. The decline coincided with delays in U.S. crypto legislation and lower expectations for the CLARITY Act.
Ripple expands RLUSD use cases
Ripple recently joined the x402 Foundation as a Premier Member to support AI agent payments using XRP and RLUSD through an open standard. The foundation includes major firms like Coinbase, Circle, Google, Mastercard, Visa, Amazon Web Services, Stripe, Shopify, American Express, Adyen, Cloudflare, Fiserv, the Solana Foundation, the Stellar Development Foundation, the Monad Foundation, and MoonPay. Ripple aims to enable developers to build AI-powered applications that settle transactions with XRP and RLUSD on the XRP Ledger.
XRP price and market activity
XRP has strengthened alongside improving macro sentiment, rising about 5% after lower-than-expected U.S. consumer inflation data. The token traded between $1.07 and $1.12 over the past 24 hours, with trading volume climbing roughly 40%. Derivatives activity also increased, with XRP futures open interest rising 3% to $2.44 billion, suggesting fresh long positions amid bullish sentiment from the inflation data and Binance's incentive program.