• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

XRP Price May Rally To $4 Amid Ripple Stablecoin Launch

user avatar

by A1

3 hours ago


XRP's price surged after Ripple announced the upcoming launch of its new stablecoin RLUSD on December 17. The news sparked optimism in the market, with analysts predicting further growth towards $4.

XRP Price Surge After Announcement

XRP witnessed strong growth after Ripple confirmed the launch of its new stablecoin, RLUSD. The price rose from $2.36 to $2.56, marking an 8.47% increase. Within 24 hours, the price reached $2.69, reflecting a 13.17% gain and a 26.31% weekly increase. The market cap of XRP stands at $153.75 billion, with a circulating supply of 57 billion tokens. Crypto analyst Ali noted that once XRP clears the $2.60 resistance, it could head towards $4.

$XRP has been consolidating in this bull flag for a while, but once it clears the $2.60 resistance, I think it’s off to the races, heading toward $4!Ali, Crypto Analyst

Ripple Prepares for RLUSD Launch

Ripple has confirmed that RLUSD will officially launch on December 17. The stablecoin, designed to operate on the XRP Ledger, will be available on exchanges such as Bitstamp. Ripple CEO Brad Garlinghouse announced that the RLUSD received approval from the New York State Department of Financial Services, showing readiness for the release. Shortly before the launch, Ripple Treasury minted 13 million RLUSD to ensure a smooth rollout. David Schwartz, Ripple’s Chief Legal Officer, commented that the RLUSD launch would offer new opportunities for developers and users by combining the benefits of RLUSD, XRP, and the XRP Ledger.

Whale Activity Drives Market Momentum

The XRP price rally has also been supported by significant whale activity. Blockchain tracker Whale Alert reported a transfer of 69.3 million XRP (approximately $175.87 million) to Binance. XRP-focused analytics platform Bithomp confirmed the transaction was internal involving Binance linked wallets. Earlier reports revealed even larger movements: 800 million XRP and 120 million XRP moved within Binance's structure. These internal reshufflings have contributed to market positivity, suggesting that large investors are positioning themselves for Ripple’s stablecoin.

Ripple's announcement of the RLUSD stablecoin has sparked investor optimism, driving XRP prices higher. While profits are possible, steady demand suggests continued upwards momentum, with potential for the price to reach $4 according to analysts.

0

Share

Other news

Coinbase Defends Its Right to Delist Wrapped Bitcoin, Court Supports the Decision

Coinbase won the legal battle against BiT Global, asserting its right to delist Wrapped Bitcoin.

user avatarA1

9 minutes ago

Year-End Coins to Watch: $CHO, $DOGE, and $HYPE

The crypto market closes with optimism, spotlighting $CHO, $DOGE, and $HYPE as coins with potential gains by early 2025.

user avatarA1

9 minutes ago

David Sacks Appointed as White House Crypto Czar

David Sacks is named as the president's advisor on AI and cryptocurrency, signaling a significant shift in US policy.

user avatarA1

10 minutes ago

Solana dApps: Revenue Reaches $365M Driven by DeFi and Memecoins

In November 2024, Solana dApp revenue hit $365M, with DeFi and memecoins as key growth drivers.

user avatarA1

10 minutes ago

Bank of Japan Holds Rate: Awaiting Global Shifts

Bank of Japan keeps rate at 0.25%, considering global economic risks and inflation trends until 2025.

user avatarA1

10 minutes ago

Web3Bay: Investing in the Blockchain-Powered Future of E-commerce

Web3Bay offers innovative solutions in e-commerce, using blockchain power for fair seller and buyer interactions.

user avatarA1

11 minutes ago

dapp expert logo
© 2020-2024. DappExpert. All rights reserved.
© 2020-2024. DappExpert. All rights reserved.

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.