Ripple is set to launch its much-anticipated USD-backed stablecoin, RLUSD, on Tuesday across major platforms, including MoonPay, Uphold, 𝐂𝐨𝐢𝐧𝐌𝐄𝐍𝐀, 𝐁𝐢𝐭𝐬𝐨, 𝐚𝐧𝐝 𝐀𝐫𝐜𝐡𝐚𝐱𝐄𝐗, marking a significant milestone for the payments giant. The rollout comes following regulatory approval from the New York Department of Financial Services (NYDFS) on December 10, further solidifying Ripple's compliance and trustworthiness in the crypto space.
𝐀𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐑𝐢𝐩𝐩𝐥𝐞, RLUSD has been designed as an "enterprise-grade, USD-denominated stablecoin," prioritizing utility, transparency, and regulatory alignment. Independent audits will be conducted regularly to ensure transparency regarding RLUSD’s reserve assets. Initially, the stablecoin will be available on the XRP Ledger and Ethereum Mainnet, with plans to expand access across DeFi protocols. Ripple also announced future integrations on platforms like Bullish, Bitstamp, and Mercado Bitcoin, as it prepares to enable cross-border payments for users by early next year.
The 𝐥𝐚𝐮𝐧𝐜𝐡 𝐨𝐩𝐭𝐢𝐦𝐢𝐬𝐦 has fueled bullish momentum for XRP, which broke out over the weekend, confirming a bullish flag pattern. Data from Coinglass reveals over $18.6 million in liquidations in the past 24 hours, including $10.14 million in long trades and $8.48 million in shorts. XRP rebounded off the 23.6% Fibonacci Retracement level, testing critical resistance at $2.58. Analysts suggest that a sustained volume breakout above $2.58 and $2.92 could propel XRP to a new high of $4.75, marking a significant milestone for the remittance-focused digital asset.
With 𝐑𝐋𝐔𝐒𝐃'𝐬 𝐠𝐥𝐨𝐛𝐚𝐥 debut and growing market optimism, Ripple’s ecosystem looks poised to capture renewed investor interest, positioning XRP for a breakout amidst broader crypto market enthusiasm.
