Maple reports that approximately 225 million XRP tokens, worth about $280 million, are being used as collateral to secure loans financed through Ethereum pools. The three disclosed XRP-backed loans have a nominal stablecoin principal of about $151.8 million and mature in December and January. Renewals could keep the XRP pledged, while authorized release of collateral after repayment could reduce the amount of committed collateral. Maple’s default procedures allow liquidation under certain conditions, including when margin calls remain unresolved. Ongoing demand beyond the existing loans depends on whether borrowers still need XRP as collateral.