$XRP
Today, the price of XRP has seen a significant increase of 7.2%, reaching $2.57 in the last 24 hours. This increase comes after Ripple launched a new stablecoin called RLUSD, which is fully backed by US dollar deposits, government bonds, and cash equivalents, ensuring its stability and liquidity. RLUSD will be available on exchanges such as Uphold, Bitso, MoonPay, Archax, and CoinMENA starting December 17, with plans to add more exchanges in the future. Ripple's entry into the stablecoin market puts it in competition with major players such as Tether and PayPal.
Additionally, since the re-election of Donald Trump as US President, XRP has seen a surge of over 500% since November 5, driven by expectations that a more crypto-friendly administration would benefit digital assets like XRP.
However, it is worth noting that previously, XRP had experienced a 1.5% decline to $2.39, despite other cryptocurrencies showing gains. The drop came after hitting $2.45 the night before, indicating continued high volatility in the crypto market.
Overall, these latest developments indicate significant dynamics in the XRP and Ripple ecosystems, with the launch of RLUSD potentially boosting XRP’s adoption and value in the future.