Ripple’s RLUSD Stablecoin Launch and $XRP Bullish Momentum

Ripple ($XRP ) has announced the official launch of its RLUSD stablecoin, set to go live on Tuesday across exchanges like MoonPay, Uphold, CoinMENA, Bitso, and ArchaxEx. The $RLUSD stablecoin is designed to maintain a 1:1 peg with the US dollar, backed by reserves of US dollar deposits, short-term Treasury bonds, and other liquid assets. Ripple plans to expand RLUSD’s availability to other platforms, including Bullish, Bitstamp, and Mercado Bitcoin, in the coming weeks.

The launch of RLUSD is expected to boost XRP’s price, helping it overcome resistance levels at $2.58 and $2.921. Ripple also aims to use RLUSD for cross-border payments starting early next year. Initially, RLUSD will be available on the XRP Ledger and Ethereum Mainnet, allowing users to leverage it across DeFi protocols1. To ensure transparency, an independent auditing firm will issue monthly attestations of RLUSD’s reserve assets.

$XRP has shown bullish momentum, validating a bullish flag pattern over the weekend and testing the resistance level at $2.581. The token could potentially reach a new all-time high of $4.75 if it breaks through the resistance levels.