Borrow Stables Against Native XRP
Unlock stablecoin liquidity without selling your XRP. Rujira Money Market accepts native XRP as collateral on THORChain — new for XRP, non-custodial, no wrapping step, no CEX line of credit.
Why this is new for XRP
The XRPL has had an order-book DEX since launch, but no on-chain lending market. Borrowing against XRP historically meant sending it to a centralized exchange or lending desk — custody risk, KYC, and re-hypothecation of the coins backing your loan.
- Native XRP as collateral — your XRP stays on the XRPL; no WXRP is minted.
- Non-custodial — the protocol holds the lien against your address, not a company.
- No KYC, no term lock — open, repay, close. No waiting period.
- Transparent parameters — LTV, liquidation threshold, borrow rate are published on-chain and visible before you sign.
Step-by-step: deposit XRP, borrow stables
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Open Rujira Money Market
Navigate to the Rujira Money Market app. It runs on top of THORChain and accepts native XRP as collateral — your XRP stays on the XRPL until a liquidation event.
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Connect an XRPL wallet
Use a self-custody XRPL wallet that signs standard payments with a memo — Xaman (XUMM), Crossmark, or Ledger via XRP Toolkit. No trust line, no proprietary wallet required.
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Deposit XRP as collateral
Send XRP to the inbound address with the deposit memo. Your XRP is recorded as collateral against your account on THORChain; the protocol does not re-hypothecate it.
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Pick borrow asset and amount
Choose a stablecoin (USDC, USDT) and an amount inside the allowed loan-to-value. The interface shows your liquidation price and the current borrow rate before you commit.
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Sign the borrow transaction
Confirm the borrow. The stablecoins are sent to the destination address you specify — another wallet you control, or an exchange deposit address if you are exiting.
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Monitor collateral health
Track XRP price against your liquidation threshold. Repay part or all of the loan at any time to de-risk; top up collateral if XRP drops meaningfully.
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Repay to unlock your XRP
Send stablecoins back with the repay memo. Debt clears, the protocol releases your native XRP to the XRPL address you nominate. No wrapping step, no custodian handoff.
Risks to understand before you borrow
If XRP drops enough that your collateral ratio breaches the liquidation threshold, part of your XRP can be sold to repay the loan. Leave headroom.
The stablecoin borrow rate is algorithmic and moves with utilization. It can rise during periods of high demand. Check the live rate before opening.
Non-custodial is not risk-free. Rujira Money Market runs on deployed contracts; a bug could affect deposits. Size positions accordingly.
Other things you can do with native XRP
XRP money-market questions
Is my XRP ever wrapped or bridged?
No. Rujira Money Market treats native XRP as first-class collateral on THORChain. Your XRP stays on the XRPL, tracked on-chain against your account. No WXRP, no IOU, no bridge.
Why is this new for XRP?
The XRPL has had its own order-book DEX since day one, but no on-chain lending market. Borrowing against XRP historically meant a CEX line of credit — custody risk, KYC, liquidation into the CEX's order book. Rujira Money Market is the first non-custodial borrow market for native XRP.
What LTV can I get on XRP?
Loan-to-value is set per-collateral by the protocol and adjusts with market conditions. The UI displays the current max LTV, the liquidation threshold, and your liquidation price before you confirm. Conservative borrowers typically open well below the max.
What if XRP price drops?
If your collateral ratio falls below the liquidation threshold, part of your XRP can be liquidated to repay the loan. Avoid by repaying early or topping up collateral. Parameters are published on-chain and visible before signing.
What is the borrow rate?
Interest is algorithmic, driven by utilization in each market. The live rate is shown in the Money Market UI. No origination fee, no term lock — repay any time.
Why not just sell XRP for stables instead?
Selling closes your XRP position and may trigger a taxable event. A loan unlocks stable liquidity without disposing of the asset — useful if you expect XRP to appreciate or want to avoid a capital gain. Trade-off: loans carry liquidation risk; outright selling does not.