Ripple's RLUSD is on fire! 24-hour trading volume surged by 170%, XRP may rise with this momentum!
In just 24 hours, RLUSD's trading volume skyrocketed by 170%, and its market value soared to $53 million. This is no small feat, and there are several key reasons behind it.
First, Tether's USDT is facing significant troubles in Europe and may be forced out of European exchanges.
As a result, RLUSD has stepped in as the new favorite, as it is compliant and stable, perfectly filling the gap left by USDT.
Next, let’s talk about RLUSD’s own strengths. Ripple not only launched RLUSD but also connected it with various financial platforms.
This makes it convenient for everyone to use, naturally increasing the trading volume. Moreover, RLUSD is pegged to the US dollar at a 1:1 ratio, making it very safe, which appeals to both retail and institutional investors.
Looking at the trading pairs, RLUSD/USDC has the highest trading volume, followed by ETH/RLUSD and BTC/RLUSD.
This indicates that RLUSD is becoming increasingly popular across different platforms, solidifying its position as a stablecoin.
With changes in European regulatory policies, Ripple's RLUSD has become even more important. It not only boosts traders' trust and usage but could also alter the landscape of stablecoins in global trade and finance.
Additionally, Ripple's lawsuit with the SEC is nearing an end, and Trump has stated he wants to make the U.S. the center of cryptocurrency, all of which have increased market confidence in Ripple.
However, Ripple's native token XRP hasn't been as fortunate. Despite RLUSD's popularity, XRP's price has still dropped by 5%, although trading volume surged by 64%. This indicates that the market remains active, just temporarily not rising.
Egrag Crypto is optimistic about XRP, believing it can reach $6 within 90 days. He attributes this to RLUSD being linked to the XRP ledger, making XRP more usable.
Consequently, RLUSD and XRP could rise together, attracting more investments into Ripple's ecosystem.
Opportunities are just around the corner. In the next strategic moves, I will guide everyone to target high-profit opportunities in altcoins, with an expected upside of over 10 times being very feasible. Like and comment to join me in strategizing for the entire bull market!