Ripple’s stablecoin RLUSD saw a dramatic 45 percent surge in trading volume over the past 24 hours. The spike signals a growing shift among crypto investors moving away from volatile assets in search of stability.
According to CoinMarketCap data, RLUSD’s daily volume surpassed $113 million despite being less than five months old. This significant rise highlights increasing confidence in the token’s ability to provide a stable trading environment amid broader market fluctuations.
Investors typically turn to stablecoins when uncertainty grips the digital asset space. The significant price volatility of Bitcoin and Ethereum tokens has driven users to adopt RLUSD quickly.
Recent performance data demonstrates that RLUSD represents developing competition within the stablecoin market segment despite ongoing dominance by Tether (USDT) and Circle’s USDC. User adoption of RLUSD as a legitimate transaction tool and asset defense option keeps expanding market volume.
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RLUSD Gains Momentum as XRP Faces Downward Pressure
Meanwhile, Ripple’s native cryptocurrency, XRP, has struggled to maintain momentum during the same period. XRP’s trading volume fell by more than 21 percent, dropping to $4.36 billion. The token’s price declined by 5.45 percent, falling to $2.14 after facing rejection at the $2.30 resistance level.
XRP maintained stability but could not replicate RLUSD’s solid market returns in that period. Market activity data demonstrates that investors prefer stable assets at this moment while avoiding speculative investments.
Expert trader DonAltL predicts XRP’s future success following a price breakout above $2.30, as such a movement would initiate another price rally. A successful rally needs the token to break through its current resistance level, where multiple active sellers exist.
Public interest in RLUSD continues to grow because investors prefer stable investments over market volatility risks. The quick acceptance of the stablecoin indicates that fundamental market participants have changed their mindset toward more risk-averse approaches.
Conclusion
With RLUSD’s sharp rise in volume, it’s evident that investors are increasingly turning to stablecoins for safety. The stablecoin’s growing traction highlights its potential to challenge market leaders, especially during heightened volatility.
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