PHGinoongHalimaw
Honorary Poster
XRP price has surged by nearly 6% in the past 24 hours, reclaiming the $2.30 level following the regulatory approval of Ripple’s RLUSD stablecoin by the New York Department of Financial Services (NYDFS). This milestone marks Ripple's entry into the competitive stablecoin market, sparking investor optimism and driving XRP’s price higher.
Ripple CEO Brad Garlinghouse announced the approval on Dec. 10, leading to XRP’s rally from $1.90 to a high of $2.42 before settling at $2.32. RLUSD, Ripple’s US dollar-backed stablecoin, is now poised for launch on exchanges and partner platforms. The stablecoin, currently in beta testing on Ethereum and XRP Ledger (XRPL), has a circulating supply of $52 million and is backed by short-term US government bonds. Analysts believe its adoption could significantly boost XRP demand by creating a less volatile asset for remittance and settlement services
Ripple CEO Brad Garlinghouse announced the approval on Dec. 10, leading to XRP’s rally from $1.90 to a high of $2.42 before settling at $2.32. RLUSD, Ripple’s US dollar-backed stablecoin, is now poised for launch on exchanges and partner platforms. The stablecoin, currently in beta testing on Ethereum and XRP Ledger (XRPL), has a circulating supply of $52 million and is backed by short-term US government bonds. Analysts believe its adoption could significantly boost XRP demand by creating a less volatile asset for remittance and settlement services