Ripple launches RLUSD, XRP hits $4.75 high
RLUSD will debut on Tuesday, according to Ripple.
RLUSD will launch on MoonPay, Uphold, CoinMENA, Bitso, and ArchaxEx.
If volume remains over $2.58 and $2.92 resistance levels, XRP might reach $4.75, a new high.
Tuesday will see the introduction of Ripple's RLUSD stablecoin on MoonPay, Uphold, CoinMENA, Bitso, and ArchaxEx, according to a press statement on Monday. XRP may surpass $2.58 and $2.92 resistance levels due to launch optimism.
Ripple's USD-backed stablecoin, RLUSD, will debut internationally on Tuesday after regulatory permission.
On December 10, Ripple got clearance from the New York Department of Financial Services (NYDFS) to launch the stablecoin, which the crypto community had expected on December 4.
Ripple called RLUSD a "enterprise-grade, USD-denominated stablecoin created with trust, utility, and compliance at its core."
RLUSD will launch on MoonPay, Uphold, CoinMENA, Bitso, and ArchaxEX. The startup plans to launch the stablecoin on Bullish, Bitstamp, Mercado Bitcoin, and others in the next weeks.
Ripple wants to commence cross-border payments for consumers early next year using the stablecoin.
First, on-chain users may utilize RLUSD on the XRP Ledger and Ethereum Mainnet over DeFi protocols.
Ripple said that an independent auditing company would confirm RLUSD's reserve assets regularly for transparency.
After weekend increase, Ripple's XRP confirms bullish flag pattern.
Coinglass data shows $18.62 million in liquidations in the previous 24 hours, lifting XRP 1%. Long trades were liquidated for $10.14 million and short holdings for $8.48 million.
Weekend breakthrough above the remittance-based token's falling trendline confirmed a bullish flag pattern. After rebounding from the 23.6% Fibonacci Retracement level, XRP tested $2.58 resistance on Monday.
The pole's length suggests XRP might reach $4.75, a new high. A large volume move over $2.58 and $2.92 barriers might propel the surge to $4.75.
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