$XRP Rallies 10% as Ripple's Stablecoin Gets Regulatory Approval, CEO Garlinghouse Says:.

The approval is a necessary step towards the public launch of the RLUSD token, which is currently in test mode on Ethereum and XRP Ledger.

What to know:

Ripple's U.S. dollar stablecoin received "final approval" from the New York Department of Financial Services, Ripple CEO Brad Garlinghouse said in Tuesday X post.

XRP, the native token of the Ripple-adjacent, surged 10% outperforming the broader crypto market.

RLUSD is in test mode on Ethereum and XRP Ledger, and has a $52 million supply.

XRP, the native token of the XRP Ledger (XRPL) network, surged during the U.S. afternoon hours on Tuesday as Ripple CEO Brad Garlinghouse said the company's much-anticipated stablecoin obtained regulatory approval from the New York Department of Financial Services.