XRP has been making waves lately, and here's the latest update: Ripple's stablecoin, Ripple USD (RLUSD), is now live on global exchanges, causing a surge in XRP's trading volume. In just 24 hours, XRP's trading volume soared 80% to $18 billion, with its price rising nearly 5% to $2.62 and a market capitalization of $149 billion.
RLUSD is an enterprise-grade stablecoin that combines fiat stability with blockchain efficiency, offering instant global payments, seamless on/off ramps, and access to real-world assets. It's backed by US dollar deposits and government bonds, ensuring stability in the volatile market.
Although RLUSD hasn't made it to major crypto exchanges yet, it's available on Uphold, Bitso, MoonPay, Archax, and CoinMENA, with plans for broader adoption. The stablecoin has also integrated with both the XRPLedger and Ethereum blockchains, positioning Ripple as a partner for financial institutions, developers, and enterprises seeking to embrace digital assets within regulated frameworks.
Analysts predict XRP's price will reach as high as $20 in the near term, with the possibility of market capitalization reaching $1 trillion in the second quarter of 2025. However, it's essential to keep an eye on the market, as RLUSD faced volatility even before its official launch, with some investors willing to pay as much as $1,200 for a fraction of the stablecoin .
In other news, XRP reclaimed its third spot in the cryptocurrency market rankings by market capitalization, surpassing Tether (USDT) after a 9% surge. The latest price surge pushed XRP to a multi-day high of $2.60, marking a dramatic rebound from its earlier position below $2.40 .
