Stampede begins to buy RLUSD, Ripple's stablecoin

The trading volume of RLUSD skyrocketed in the last 24 hours and surpasses other stablecoins like DAI or PayPal USD.

RLUSD is the fourth most traded stablecoin in the last 24 hours, surpassing PayPal USD.

The adoption of this asset could boost the price of XRP.

The trading volume of RLUSD, Ripple Labs' stablecoin, exceeded 614 million dollars in the last 24 hours, representing an increase in this indicator of over 1,400%.

In this way, it positioned itself as the fourth most traded stablecoin during the last day, above DAI, PayPal USD, or Ethena USDe (USDe).

The performance of Ripple's digital asset demonstrates that it is starting to gain ground in a market dominated by giants like USDT and USDC, the stablecoins issued by Tether and Circle, respectively.

RLUSD is a stablecoin that maintains a 1:1 parity with the dollar, backed by deposits in the U.S. currency, U.S. government bonds, and cash equivalents, to ensure the stability and liquidity of the asset. Additionally, it is worth noting that it operates on the Ethereum and XRP Ledger networks.

According to data from the Etherscan explorer, there are currently 57.6 million RLUSD issued on Ethereum, with 1,672 transfers recorded. Of that total, 70.97% is under the control of the Ripple Deployer address.

These data reflect that the stablecoin is still in an initial acceptance stage and concentrated ownership, so these movements in trading volume may be indications of a strategy by the company to generate interest in the market.