Maple locks $280M in XRP collateral and upcoming maturity dates threaten liquidations

XRP Ledger's reported DeFi value includes roughly $280 million in XRP collateral backing Maple loans funded from Ethereum pools, offering a reason to hold the token while borrowing stablecoins.Yet the staying power depends on what happens to those loans. Maple reported about 225 million XRP across its syrupUSDC and syrupUSDT products, and three displayed XRP-backed positions carry approximately $151.8 million in nominal stablecoin principal, with maturities in December and January.Borrowing against XRP can let an existing holder access liquidity while keeping exposure to the token. Renewals can extend that use, repayments can lead to authorized releases, and a failed margin call can lead to sales.The credit behind XRPL's collateral totalMaple's syrupUSDC disclosure listed 142,766,086.05 XRP valued at $177.7 million, and its syrupUSDT disclosure listed 82,314,668.8 XRP valued at $102.5 million.Together, the reported balances total about 225 million XRP and $280.2 million in displayed collateral.ProductLoan principalXRP collateral valueMaturitysyrupUSDC41.6 million USDC$74.2 millionDec. 4, 2026syrupUSDC55 million USDC$103.5 millionDec. 12, 2026syrupUSDT55.2 million USDT$102.5 million...