XRP holders can now borrow Ripple’s RLUSD stablecoin on Ethereum by using wrapped XRP (FXRP) as collateral in a new isolated market on Morpho Blue, managed by Sentora, which oversees a $280 million lending pool. The isolated market allows borrowing against XRP exposure without selling the underlying token and is permissionless with no whitelist required. Sentora reviewed FXRP’s market behavior, oracle design, liquidity and liquidation capacity under its institutional risk framework before approving the asset, and the collateral will continue to be monitored like other assets in the vault. Borrowers must mint FXRP through Flare’s FAssets system, bridge it to Ethereum via Stargate, deposit it into the market and select a loan‑to‑value ratio. Flare is developing Smart Account tools that would let users authorize the entire borrowing flow from an XRP Ledger wallet, and direct XRPL‑to‑Ethereum minting is also in development. Flare co‑founder and CEO Hugo Philion told CoinDesk that XRP is one of the largest crypto assets and one of the least used in DeFi, and that institutional risk oversight on Ethereum mainnet adds credibility. The approval creates an isolated FXRP/RLUSD market where any failure would be contained, but the current supply of roughly 155 million FXRP is far below Flare’s target of 5 billion XRP in six months, and the market operates under a conservative supply cap that may increase with usage. CoinDesk has requested details on the supply cap, loan‑to‑value ratio, liquidation threshold and oracle source.