Ripple, a leading fintech firm, is preparing to launch its highly-anticipated dollar-pegged stablecoin, RLUSD, on Tuesday. The upcoming launch has created significant optimism in the market, leading to a surge in XRP’s price.
Over the past week, XRP has climbed more than 15%, with a 2.60% increase in the last 24 hours. At $2.47, the token now hovers near the $2.50 threshold and could potentially test the $3 mark soon.
The introduction of RLUSD is part of Ripple’s broader strategy to dominate the cross-border payment industry. Ripple recently secured approval from the New York Department of Financial Services (NYDFS) for its stablecoin.
Initially, RLUSD will be listed on prominent platforms like Uphold, Bitso, MoonPay, Archax, and CoinMENA. Ripple has indicated plans to expand the stablecoin’s availability to additional exchanges in the coming months, further enhancing accessibility and adoption.
Ripple’s Senior Vice President of Stablecoins, Jack McDonald, described RLUSD as a “hybrid situation.” He noted that while stablecoins share similarities with traditional currencies, they provide greater stability compared to the high volatility of most cryptocurrencies.
Ripple aims to connect RLUSD to the traditional financial system, creating a seamless bridge for businesses and individuals to use digital assets in everyday transactions.
Also Read: What is RLUSD? Everything You Need to Know About Ripple’s Stablecoin
Ripple Payments to Drive RLUSD Adoption Globally
Ripple Payments, the firm’s subsidiary dedicated to cross-border payment solutions, will integrate RLUSD into its operations by early next year. This move is expected to enhance the stablecoin’s usage across Ripple’s global payment network. Increased adoption of RLUSD could also strengthen Ripple’s ecosystem while positively influencing XRP’s price trajectory.
Market analysts are already observing XRP’s steady momentum ahead of the stablecoin launch. XRP currently boasts a market cap of $141.2 billion, securing its position as the third-largest cryptocurrency by valuation.
The Relative Strength Index (RSI) is at 65.34, indicating a strong bullish trend. This value suggests buyers remain in control of the token’s price action, with continued upward movement likely.
However, the MACD indicator presents a cautious outlook as the signal line remains above the MACD line, reflecting the impact of recent sell-offs. Nonetheless, the gap between the two lines has started to narrow, signaling the potential for a bullish divergence soon. This technical setup indicates a shift in momentum, which could drive XRP higher as market confidence grows.
Source: Tradingview
Ripple’s strategic focus on RLUSD positions the company to become a major player in global cross-border payments. The stablecoin’s integration into Ripple Payments will not only enhance the network’s efficiency but also provide businesses and institutions with reliable transaction solutions. As Ripple moves closer to launching RLUSD, investors are closely monitoring the firm’s progress, anticipating further bullish activity for XRP in the coming weeks.
The combination of strategic partnerships, regulatory approvals, and expanding use cases makes RLUSD a significant development in Ripple’s journey. With XRP steadily gaining ground, the crypto community awaits the stablecoin’s impact on Ripple’s broader ecosystem and its potential to reshape digital payments.
Also Read: Breaking: Ripple’s RLUSD Stablecoin to Launch Globally Tomorrow
