XRP is back in the crypto spotlight, making headlines as Ripple’s RLSUD stablecoin received a green light from the New York Department of Financial Services (NYDFS). XRP’s price jumped by nearly 7% on the heels of Ripple’s speculative announcement that the stablecoin could reach a market cap of $2 trillion by 2028. Meanwhile, crypto upstart JetBolt (JBOLT) continues to shake the market with its zero-gas technology and other Web3 utility features. With a presale record surging over 150 million tokens sold, JetBolt seems to be on a smooth, steady growth ride.
As 2024 winds down, the crypto market continues to bustle with exciting developments. Let’s explore further how Ripple’s RLSUD stablecoin will affect the crypto landscape as next-gen altcoins like JetBolt soar to new heights.
XRP: Can the RLSUD stablecoin propel XRP to rally?
Ripple Labs CEO Brad Garlinghouse announced on Tuesday that the NYDFS finally approved its stablecoin after months of consideration. Garlinghouse also added that Ripple would soon announce official exchange and partner listings for the RLSUD.
Ripple began testing RLSUD on the XRP ledger and Ethereum mainnets around August. In October, the company cited Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish, as among the exchanges RLSUD will partner with.
Similar to other USD stablecoins, RLUSD will be pegged to the US dollar at a 1:1 ratio. Ripple announced plans to back RLSUD with USD deposits, short-term US Treasury bonds, and other cash equivalents. In addition, market makers B2C2 and Keyrock are expected to provide liquidity support for RLUSD. This partnership aims to ensure the stablecoin’s availability and maintain its efficiency in the market.
Ripple President Monica Long stated that RLUSD would be “complementary and additive” to XRP, providing Ripple with a less volatile asset to strengthen its remittance and settlement services.
After rebounding from the support level around $1.96, XRP has moved back above the 23.6% Fibonacci Retracement. If XRP continues its recent upward trajectory, it could target the $2.58 level and potentially retest resistance near the $3 psychological level, where it previously faced significant selling pressure. Trading as of press time at $2.30, XRP may need to sustain a daily uptrend above the $1.96 level to continue its rally.
24-hour Price chart of XRP as per data from the CoinGecko website
JetBolt: Leading the charge of next-gen altcoins poised to soar to new heights
While XRP rides on the wave of Ripple’s RLSUD stablecoin approval, JetBolt (JBOLT) is taking the blockchain space by storm. Following an impressive presale of over 150 million tokens sold already, this emerging altcoin could be leading the charge of next-gen altcoins.
JetBolt offers zero-gas technology which completely eliminates costly gas fees—costs that typically slow down blockchain innovation. This special feature enables users to make multiple blockchain transactions without the financial burden of gas fees and allows developers to carry out more cost-effective dApp projects.
Crypto trading can be intimidating for some, but JetBolt offers a user-friendly entry. Its client-focused Web3 wallet is equipped with advanced integrations like WebAuthN protocol and face ID recognition, simplifying crypto management for both newcomers and experienced crypto enthusiasts. Furthermore, JetBolt has an AI-driven tool that delivers exciting updates and market insights to keep users informed on the latest crypto news and developments.
On the staking front, JetBolt’s SocialFi system encourages social engagement by rewarding users for staking and interacting with friends on the platform. By logging in and connecting with friends daily, users can earn more tokens, enhancing the staking activity by making it fun and collaborative.
For crypto whales and users looking to maximize their holdings, JetBolt’s exclusive Alpha Boxes offer up to 25% token bonuses on bulk purchases. And still at its presale stage, JetBolt’s price increases daily—-offering an enticing opportunity for early buyers to get hold of JetBolt tokens now.
Final Thoughts: Regulators Approve Ripple’s RLUSD Stablecoin as Next-Gen Altcoins Soar
After months of waiting, Ripple’s RLSUD finally got its approval from the state regulator New York Department of Financial Services. This major development came amidst XRP’s efforts to regain losses wiped out during the recent crypto market downturn. As XRP leverages this significant event, rising altcoin JetBolt’s presale continues to skyrocket. Selling over 150 million tokens, JetBolt continues with its upward momentum, driven by zero-gas technology and other Web3 innovative features. With blockchain innovations at its core, JetBolt could lead the next-gen altcoins to soar to unchartered heights.
Discover more about JetBolt’s features and presale details on its official website and X/Twitter account.
This article is not financial advice. Always perform personal research before buying any cryptocurrencies, as the market is inherently risky and highly volatile.
*This article was paid for. Cryptonomist did not write the article or test the platform.
