Ripple's US dollar stablecoin $RLUSD officially launched today (12/17), approved by the New York State Department of Financial Services (NYDFS), and plans to integrate into Ripple Payments to promote cross-border payment development.
According to Cointelegraph, $RLUSD is a stablecoin pegged 1:1 to the US dollar, fully backed by US dollar deposits, short-term US treasury securities, and cash equivalents.
The first platforms to launch include Uphold, MoonPay, Archax, and CoinMENA, with more exchanges like Bitso, Bullish, and Bitstamp coming in the next few weeks. Ripple (XRP) has seen strong momentum recently, and analysts are optimistic about future performance and price targets.
$RLUSD will enter the global payment market in 2025.
Ripple plans to integrate $RLUSD into its digital payment protocol Ripple Payments by early 2025, helping enterprise clients achieve cross-border settlements and remittances.
Ripple Payments has covered 90 global markets, processing a transaction volume of $70 billion, laying a solid foundation for the global application of $RLUSD.
In addition, Ripple has formed a high-level $RLUSD advisory committee, with members including former Reserve Bank of India Governor Raghuram Rajan and former Boston Federal Reserve Bank Vice President Kenneth Montgomery, to provide strategic support for the development of the stablecoin.
Rajan stated that stablecoins will become an important pillar of private payments, and $RLUSD aims to establish a new standard of trust and lead the future of payment systems.
Ripple has increased over 130% this month, and analysts predict it will reach $15.
Driven by favorable developments in the lawsuit between Ripple and the SEC, Trump's market trends, and the launch of the stablecoin $RLUSD, Ripple (XRP) has surged 132% in recent months, with a slight correction currently.
According to Cointelegraph analyst Nancy Lubale, the daily chart for XRP has formed a Bull Flag pattern, and if this pattern breaks out completely, the target price could soar to $15, representing an increase of about 520% from the current price.
Additionally, the activity in the perpetual contract market for XRP has surged, and as of December 3, the open interest has reached an all-time high, reflecting a significant influx of funds into the market and strong bullish sentiment.
Lubale stated that while there may be a correction in the short term, the long-term upward trend remains unchanged. With the launch of the $RLUSD stablecoin and the expansion of the Ripple ecosystem, XRP still has the potential to strengthen continuously in 2025.
Investors can closely monitor the launch dynamics of $RLUSD and Ripple's layout in the cross-border payment field, which will be an important catalyst for driving up $XRP .
Today's article ends here. We are currently in a bull market with much happening, and we share insights daily.