Ripple is set to launch its much-anticipated USD-backed stablecoin, RLUSD, on Tuesday across major platforms, including MoonPay, Uphold, ๐๐จ๐ข๐ง๐๐๐๐, ๐๐ข๐ญ๐ฌ๐จ, ๐๐ง๐ ๐๐ซ๐๐ก๐๐ฑ๐๐, marking a significant milestone for the payments giant. The rollout comes following regulatory approval from the New York Department of Financial Services (NYDFS) on December 10, further solidifying Ripple's compliance and trustworthiness in the crypto space.
๐๐๐๐จ๐ซ๐๐ข๐ง๐ ๐ญ๐จ ๐๐ข๐ฉ๐ฉ๐ฅ๐, RLUSD has been designed as an "enterprise-grade, USD-denominated stablecoin," prioritizing utility, transparency, and regulatory alignment. Independent audits will be conducted regularly to ensure transparency regarding RLUSDโs reserve assets. Initially, the stablecoin will be available on the XRP Ledger and Ethereum Mainnet, with plans to expand access across DeFi protocols. Ripple also announced future integrations on platforms like Bullish, Bitstamp, and Mercado Bitcoin, as it prepares to enable cross-border payments for users by early next year.
The ๐ฅ๐๐ฎ๐ง๐๐ก ๐จ๐ฉ๐ญ๐ข๐ฆ๐ข๐ฌ๐ฆ has fueled bullish momentum for XRP, which broke out over the weekend, confirming a bullish flag pattern. Data from Coinglass reveals over $18.6 million in liquidations in the past 24 hours, including $10.14 million in long trades and $8.48 million in shorts. XRP rebounded off the 23.6% Fibonacci Retracement level, testing critical resistance at $2.58. Analysts suggest that a sustained volume breakout above $2.58 and $2.92 could propel XRP to a new high of $4.75, marking a significant milestone for the remittance-focused digital asset.
With ๐๐๐๐๐'๐ฌ ๐ ๐ฅ๐จ๐๐๐ฅ debut and growing market optimism, Rippleโs ecosystem looks poised to capture renewed investor interest, positioning XRP for a breakout amidst broader crypto market enthusiasm.
