Ripple USD, a stablecoin developed by the company Ripple, has dramatically reduced its trading volume in a short time. This article examines the current situation.
Market Cap and Trading Volume
According to CoinMarketCap, Ripple USD's market capitalization remains at $294 million, while its trading volume has dropped to $35.8 million, reflecting a 56% decline from the previous day.
Historical Volume Data
Analyzing the historical volume data of RLUSD reveals that the stablecoin is capable of significant spikes. For instance, just three days ago, the volume was $49.7 million, and three days prior, it was only $13 million.
Ripple USD Outlook
Recent interest in Ripple USD was sparked by its listing on the Kraken exchange. This event could have a positive impact on the stablecoin's market cap and trading volume in the future.
The over 50% decline in Ripple USD's trading volume indicates market fluctuations rather than an overall abandonment of the asset. Considering future opportunities, the stablecoin may regain its footing.
