Ripple's RLUSD Rise and Its Impact on the Crypto Market

user avatar

by Giorgi Kostiuk

2 years ago

Ripple continues to impress the crypto market with its innovations. With the release of the RLUSD stablecoin on the Ethereum platform and active market initiatives, the company has achieved significant success. This article explores Ripple's recent achievements and its market impact.

The Rise of Ripple's RLUSD

Ripple recently announced the issuance of 1.79 million RLUSD on the Ethereum blockchain. This move, along with the active transfer of 6.7 million RLUSD between anonymous wallets and key players like Bitstamp, demonstrates the project's steady growth.

Key Figures and Achievements

In the last 24 hours, the trading volume reached 607.9 million dollars. RLUSD secured a position in the top four most traded stablecoins. More than 1.5 million RLUSD were transferred by Bitstamp. Paul Barron tweeted: «Ripple Stablecoin $RLUSD has surpassed 600 million to become the 4th stablecoin in volume over 24 hours!».

RLUSD's Impact on the Crypto Market

Holding over 100 billion dollars in XRP, Ripple has a clear strategy. CEO Brad Garlinghouse emphasized that the company's actual valuation far exceeds the estimated 11 billion dollars. RLUSD's direct impact on the stablecoin market is evident, competing with giants like Tether (USDT) and USD Coin (USDC).

The introduction of RLUSD has become a significant strategic step for Ripple, enhancing its ecosystem. Ripple showcases confident growth and a determined path forward.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Bitwise Dogecoin ETF Reaches Liquidation Distribution Date

The Bitwise Dogecoin ETF has reached its announced liquidation distribution date on October 22, with remaining shareholders set to receive cash based on the fund's net asset value.

user avatarSon Min-ho

Solayer Pay Launches Direct Stablecoin Deposits for Enhanced User Experience

Solayer Pay has launched a feature allowing direct stablecoin deposits from five major blockchain networks, simplifying the funding process for users.

user avatarAyman Ben Youssef

CMCC Global Introduces Tokenized Fund Strategies

CMCC Global is introducing two fund strategies as tokenized securities through Tether's Hadron infrastructure and Bitfinex Securities under El Salvador's regulations.

user avatarTando Nkube

Senator Blumenthal Investigates Tether's Payments to Consultancy

Senator Blumenthal investigates Tether's payments to consultancy Nxum over potential ethics concerns.

user avatarKofi Adjeman

Blockchain Association Pushes for Crypto Tax Legislation

The Blockchain Association advocates for bipartisan changes to cryptocurrency tax regulations, seeking a de minimis exemption for small transactions and clarity in tax reporting for digital asset users.

user avatarNguyen Van Long

Starknet Community Votes to Explore Independent Post-Quantum Layer 1 Network

The Starknet community is exploring the possibility of transforming into an independent post-quantum secure layer 1 network, with a recent poll showing strong support for research into this initiative.

user avatarSatoshi Nakamura

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.