Ripple continues to develop its ecosystem, announcing an additional 25 million RLUSD issuance. This step aims to increase liquidity and strengthen market presence.
Release of New RLUSD
According to the X account tracking RLUSD supply, Ripple has minted another 25 million coins. This action helps ready the protocol for increased liquidity.
Role of RLUSD in Ripple's Ecosystem
RLUSD has become one of the most anticipated projects in Ripple's ecosystem, designed as a regulated stablecoin. It is available on Ethereum and orchestrated on the XRP Ledger. Currently, about $125 million worth of RLUSD circulates on Ethereum and roughly $44 million on the XRP Ledger. Despite DeFi on XRPL yet to take off, Ethereum remains the most liquid network for decentralized applications.
Impact on XRP Price
The question of how the issuance of 25 million new RLUSD will affect XRP's price remains open. So far, the changes are minimal — XRP is trading at about $2.32, a 1.6% increase in the past 24 hours. However, this uptick is likely due to the general market increase. Steady acceptance of RLUSD could boost XRP’s capital in the future.
The development of RLUSD and its successful integration on various platforms can be a powerful catalyst for Ripple's growth and XRP capitalization. Though the project is not yet comparable in scale to USDT or USDC, it shows potential for growth.
