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XRP price has surged by nearly 6% in the past 24 hours, reclaiming the $2.30 level following the regulatory approval of Ripple’s RLUSD stablecoin by the New York Department of Financial Services (NYDFS). This milestone marks Ripple's entry into the competitive stablecoin market, sparking investor optimism and driving XRP’s price higher.Ripple’s RLUSD Stablecoin Fuels OptimismRipple CEO Brad Garlinghouse announced the approval on Dec. 10, leading to XRP’s rally from $1.90 to a high of $2.42 before settling at $2.32. RLUSD, Ripple’s US dollar-backed stablecoin, is now poised for launch on exchanges and partner platforms. The stablecoin, currently in beta testing on Ethereum and XRP Ledger (XRPL), has a circulating supply of $52 million and is backed by short-term US government bonds. Analysts believe its adoption could significantly boost XRP demand by creating a less volatile asset for remittance and settlement services.Market Reaction and Bullish PredictionsThe approval of RLUSD has already caused a speculative surge in XRP’s price, but experts like Vincent Van Code suggest the real rally will come when automated market maker (AMM) and liquidity pool (LP) features are activated. These could attract significant institutional interest, increasing XRP demand as staking opportunities with potential 5% annual yields emerge.Technical Indicators Suggest a Bullish ContinuationFrom a technical perspective, XRP’s recent price action forms a bull flag pattern, a bullish continuation setup. A breakout above $2.58 could push XRP’s price toward $15, representing a new all-time high. With a relative strength index (RSI) at 62, XRP still has room for further gains before approaching overbought levels.Ripple’s RLUSD stablecoin approval not only solidifies its position in the stablecoin market but also sets the stage for XRP’s potential parabolic rise. Investors are closely watching developments as XRP positions itself for further growth in the evolving cryptocurrency landscape, according to Cointelegraph.

According to Odaily, cryptocurrency analyst Ali (@ali_charts) revealed on the X platform that during the recent market decline, whales have purchased over 100 million XRP. The market data indicates that XRP has rebounded to $2.34, marking a 5.6% increase over the past 24 hours. This significant acquisition by large investors, often referred to as 'whales,' highlights their strategic moves during periods of market volatility. The purchase of such a substantial amount of XRP suggests confidence in the cryptocurrency's potential for recovery and growth. As the market experiences fluctuations, these large-scale investments can influence price movements and investor sentiment. The recent uptick in XRP's value, following the whale purchases, underscores the impact of significant transactions on the cryptocurrency's market performance. With XRP's price climbing by 5.6% in a single day, it reflects a positive shift in market dynamics, potentially attracting more investors to the digital asset. As the market continues to evolve, the actions of major players like these whales will likely remain a focal point for analysts and investors alike.

According to CoinDesk, XRP, the native token of the XRP Ledger (XRPL) network, experienced a significant surge during the U.S. afternoon hours on Tuesday. This rise followed an announcement by Ripple CEO Brad Garlinghouse, who revealed that the company's stablecoin, RLUSD, had received regulatory approval from the New York Department of Financial Services (NYDFS). Garlinghouse shared the news on social media, stating that exchange and partner listings for RLUSD would soon be available. Following this announcement, XRP rallied by 10%, recovering from earlier losses and outperforming both bitcoin (BTC) and the broader market, as indicated by the CoinDesk 20 Index.Ripple has been strategically positioning itself in the rapidly expanding stablecoin market. In April, the company outlined its plans to introduce a stablecoin backed by short-term U.S. government bonds. Stablecoins play a crucial role in the crypto economy, particularly in global payments, which aligns with Ripple's business focus. Currently, the stablecoin market is dominated by Tether (USDT) and Circle (USDC), with a market size nearing $200 billion. However, forecasts suggest that the sector could grow to trillions of dollars in the coming years, and Ripple aims to capture a share of this market. Ripple President Monica Long highlighted the company's intention to leverage its established position in payment services among institutions and serve as a key intermediary for real-world asset tokenization. Tokenization, which involves placing traditional financial instruments on blockchain platforms for more efficient transactions, is gaining traction in the crypto industry.RLUSD is currently in beta testing on both the XRP Ledger and Ethereum networks. Ripple's Monica Long previously stated that the token was operationally ready, pending regulatory approval for its public launch. As of now, there are $41.7 million worth of RLUSD tokens on Ethereum and $10.4 million on the XRPL, according to data compiled by analytics firm CryptoQuant. This development marks a significant step for Ripple as it seeks to expand its influence in the stablecoin market and further integrate blockchain technology into traditional financial systems.

According to U.Today, XRP, currently the third largest cryptocurrency, has captured significant attention in the market due to its recent price movements. As a longstanding player in the digital asset space, XRP has experienced a notable surge, with its price reaching approximately $2.5 per coin. This marks a significant recovery, positioning it just 33.3% below its all-time high from January 2018. The cryptocurrency's market capitalization has also seen a dramatic increase, rising from around $30 billion to $143 billion, making it the third largest by market cap, trailing only Bitcoin (BTC) and Ethereum (ETH). Despite these impressive gains, some experts believe that XRP's growth may not have reached its peak. A well-known trader in the crypto community, known as "DonAlt," has suggested that XRP might be gearing up for another phase of growth, despite its recent 470% surge. DonAlt's recent comments on social media have fueled speculation about the potential for further increases in XRP's value. This has led to discussions among market participants about the possibility of XRP surpassing not only Ethereum but potentially Bitcoin as well. While such predictions remain speculative, the current momentum of XRP has certainly sparked interest and debate within the cryptocurrency community.

According to BlockBeats, Ripple CEO Brad Garlinghouse, in an interview with CBS News on December 9, highlighted the influence of U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler's actions on the formation of the crypto-backed super PAC, Fairshake. Garlinghouse suggested that without Gensler's regulatory measures, the existence of Fairshake might not have been necessary. Ripple, along with two other companies, has contributed $144 million to a super political action committee (PAC) that supports both Republican and Democratic candidates who are favorable to cryptocurrency. This financial backing underscores the growing political engagement of the crypto industry as it seeks to navigate and influence regulatory landscapes. Garlinghouse emphasized the significant legal expenses Ripple has incurred, stating that the company has spent over $150 million in its legal battle with the SEC. He argued that XRP, Ripple's digital asset, should not be subjected to the same registration and disclosure requirements as traditional securities offerings, reflecting ongoing debates about the classification and regulation of cryptocurrencies.

According to U.Today, renowned commodity trader Peter Brandt has highlighted a significant development in the cryptocurrency market, focusing on XRP. Brandt shared what he considers the most crucial chart in the crypto world, illustrating XRP's market cap breaking out above a major triangular consolidation pattern. This breakout suggests that the Ripple-affiliated token might continue its impressive rally, as its market cap surpasses the resistance level of $146 billion. Over the past 24 hours, XRP's price has surged by more than 6%, significantly outperforming the broader cryptocurrency market. The token has seen a remarkable 36% increase over the past week. Despite this bullish outlook, Brandt has faced criticism from some in the cryptocurrency community for his sudden change of stance on XRP. Previously, he had dismissed the token, predicting that the XRP/BTC pair would plummet to zero. In August, Brandt suggested that XRP community members would gradually disappear if a long-term bearish pattern unfolded. However, Brandt's perspective shifted last month as XRP experienced a substantial rally, reaching a trading price of $1.1. Despite his bullish chart analysis, Brandt clarified that he does not intend to purchase XRP, stating that he only holds Bitcoin and Solana. XRP's price continued to climb, reaching a multi-year high of $2.82 earlier this month. The token is now just 25% away from achieving a new all-time high, a milestone it has not reached in seven years. The recent surge in XRP's value is attributed to the resignation of SEC Chair Gary Gensler and increasing interest in cryptocurrency ETFs.

According to U.Today, XRP's recent rally may be losing steam as the token forms its first significant bearish signal since its recent surge. The emergence of a lower high suggests that the current upward trend might be weakening, potentially leading to further retracement in the coming days. This development is particularly concerning for XRP enthusiasts, as a lower high often marks the onset of a downtrend. The inability of XRP to surpass its previous peak, coupled with declining trading volume, raises the possibility of increased selling pressure. A sustained rally typically requires robust volume, and its decline may indicate diminishing investor interest or profit-taking activities. Investors monitoring XRP should focus on three critical price levels. The first is $2.30, a nearby support level that could hold in the short term. If this level fails, the next significant support is at $1.275, which aligns with the asset's previous consolidation zone and may act as a stronger barrier against further losses. However, if selling pressure intensifies beyond this point, XRP might test $1.13, which corresponds with the 50-day EMA and serves as a crucial psychological support level. To counter the bearish signal and regain bullish momentum, XRP needs to recover to $2.80. Achieving this would require a substantial increase in volume, indicating renewed buyer confidence. Despite XRP's impressive rally, the formation of a lower high should be viewed as a cautionary signal. Investors should consider these key levels when formulating their strategies and be prepared for potential volatility. XRP's performance in the upcoming sessions will determine whether this signal marks the beginning of a long-term correction or merely a temporary setback.

XRP has experienced a notable rebound, surpassing the 2.5 USDT mark. As of the latest update, XRP is trading at 2.5092 USDT, reflecting a 24-hour increase of 6.85%.

According to U.Today, Ripple CEO Brad Garlinghouse is set to appear in an upcoming episode of '60 Minutes,' scheduled to air on December 8. Garlinghouse announced the official date on the X social media platform, highlighting the significance of the interview for the cryptocurrency industry. The discussion is anticipated to center around the ongoing efforts to achieve regulatory clarity for cryptocurrencies in the United States. Garlinghouse's interview comes at a pivotal time for the crypto sector, as industry leaders continue to advocate for clearer regulations. In a recent social media post, Garlinghouse expressed optimism that the potential departure of SEC Chair Gary Gensler could positively impact the industry. This sentiment echoes previous remarks by Solana co-founder Anatoly Yakovenko, who described Ripple's recent legal victory as a significant setback for the SEC's stance against cryptocurrencies. The '60 Minutes' segment is also expected to highlight the recent performance of XRP, Ripple's affiliated token, which has seen a remarkable surge in value. On December 3, XRP reached a multi-year high of $2.82, as reported by CoinGecko. This development underscores the growing interest and momentum within the cryptocurrency market. '60 Minutes,' known for its in-depth reporting, is the longest-running news program in American television history, having aired over 2,500 episodes since its inception in 1968. The upcoming episode featuring Garlinghouse is anticipated to provide valuable insights into the challenges and opportunities facing the cryptocurrency industry.

XRP traders may face significant risks if Bitcoin dominance continues its upward trend, according to Swyftx lead analyst Pav Hundal. Despite XRP's recent rally, which saw it hit a yearly high of $2.85 on Dec. 3, the token has since retraced nearly 18%, sparking concerns among leveraged traders banking on a rebound.Bitcoin Dominance: A Looming ThreatAt the time of writing, Bitcoin's dominance stands at 55.30%, down 5% over the past week. Analysts speculate that this metric could peak between 60% and 70% before altcoin capital rotations begin. Hundal warns that a rise in Bitcoin dominance could result in a "bloodbath of liquidations" for leveraged XRP positions, as traders shift their focus back to Bitcoin.“The real danger right now for highly leveraged XRP bulls is that Bitcoin dominance increases again. A rotation from XRP to Bitcoin would very likely lead to a bloodbath of liquidations,” said Hundal.Surge in Leveraged XRP PositionsData shows that XRP open interest (OI) — the total number of unsettled derivative contracts — hit $3.44 billion on Dec. 5, marking a $1.44 billion increase compared to its 2021 rally. Traders have increasingly "reloaded" long XRP positions, despite the token’s price moving lower, reflecting heightened speculative interest.“The market seems to have developed a thirst for leveraged long XRP exposure,” Hundal noted, adding that retail activity has surged, with open interest nearing double the levels seen in 2021.At publication, XRP is trading at $2.37. A further 7% decline to $2.18 could liquidate $104.4 million in long positions, amplifying volatility.Market Approaching 'Euphoria Territory'?XRP has gained significant momentum since the U.S. presidential election, with a 431% rally triggered by Donald Trump’s victory. However, Hundal believes the market may be nearing "euphoria territory," as traders' exuberance over-leveraged positions could lead to heightened risks.The XRP/BTC ratio, a measure of XRP’s strength relative to Bitcoin, has risen by 47.6% over the past 30 days, highlighting the token's robust performance. However, Hundal cautioned that stability in Bitcoin's price could be essential for easing market jitters.“If Bitcoin stabilizes, it could soothe nerves and spot volumes could pick up again,” Hundal said.Outlook for XRP BullsWhile XRP remains a favorite among retail traders, the combination of rising Bitcoin dominance, leveraged exposure, and high open interest levels suggests the potential for significant volatility. Traders are advised to monitor market trends closely as Bitcoin’s dominance and macroeconomic conditions play a pivotal role in shaping XRP's trajectory in the near term, according to Cointelegraph.

According to BlockBeats, Swyftx's Chief Analyst Pav Hundal highlighted on December 6 that XRP has experienced a nearly 18% decline since reaching its annual peak on December 3. Despite this downturn, traders remain hopeful for a robust price rebound. However, the real threat for highly leveraged XRP long traders lies in the resurgence of Bitcoin's dominance. The potential shift of funds from XRP to Bitcoin could lead to broader liquidations.Pav Hundal noted that in recent weeks, there has been a rapid influx of retail investors buying large positions, with the current open interest nearing twice the levels seen in 2021. The market appears to have developed a "craving for leveraged long exposure to XRP." Despite the price drop, XRP longs continue to increase their positions, suggesting that the market might be approaching a FOMO (Fear of Missing Out) zone. This situation underscores the precarious balance in the cryptocurrency market, where shifts in investor sentiment and market dynamics can lead to significant volatility and potential risks for traders.

XRP's performance took a sharp turn as it dropped 13% in the past 24 hours, trading at $2.30 on December 5. This comes as Bitcoin (BTC) reached a historic milestone, smashing past $100,000 to a new all-time high. The dramatic divergence in performance has raised questions about whether the altseason is coming to an end. What caused this sharp XRP downturn, and what’s next for the token?Why is XRP tumbling when Bitcoin is achieving historic highs? "Liquidation spikes and a shift in market sentiment have significantly impacted XRP's momentum," noted a CoinGlass analyst. XRP has been on a correction path since December 3, losing 25% of its value after peaking at $2.90. Its market capitalization fell 8%, slipping to $133 billion and dropping below Tether (USDT). Bitcoin, meanwhile, continued its upward momentum, reaching $104,000. Despite XRP outperforming Bitcoin in November with a 354% surge, the tides turned on December 3, with XRP losing all its December gains against BTC.Liquidations added to XRP’s woes, with $12.8 million in long positions wiped out compared to $7 million in short liquidations. Futures open interest also declined from $4.3 billion, but it remains significantly higher than November's $722 million baseline.Technical indicators suggest XRP might rebound with a bull flag pattern emerging on the four-hour chart. A decisive break above $2.37 could push XRP to $4.83, potentially reversing its losses. However, the RSI has dropped significantly, signaling that a deeper correction is possible. If XRP fails to hold support at $2.05, it risks sliding further to the $1.68 level."XRP’s short-term prospects hinge on its ability to maintain key support levels amid volatile market conditions," said a crypto strategist.As of now, XRP trades at $2.30, reflecting heightened market uncertainty. With Bitcoin standing strong at $102,511, traders should watch key support and resistance levels. Stay updated with Binance News for the latest on XRP, Bitcoin, and the crypto market. 

According to Finbold, Ripple's XRP has demonstrated impressive performance in November and early December 2024, capturing the attention of investors and capital deployment. Despite this success, various indicators suggest that XRP, the native token of the XRP Ledger (XRPL), may soon face a corrective downturn, raising concerns within the trading community.On December 3, XRP reached an all-time high market capitalization of $165.74 billion, with each token valued at $2.90. This achievement occurred despite the token trading below its all-time high price of $3.40. The rally propelled XRP to become the third most valuable cryptocurrency by market cap, surpassing Solana (SOL) and Tether's USDT. The peak market cap indicates significant demand, even as Ripple continues its token unlocks and sales, contributing to circulating supply inflation. Ripple, the largest holder of XRP, is reportedly preparing for what could be its final major sale of 2024.As demand for XRP peaks, technical indicators point to potential market fatigue. The daily relative strength index (RSI) for XRP has been above 75 points since November 11, signaling an overbought condition. During the peak market cap, the RSI reached 95 points, a level often associated with impending corrections. The weekly RSI also presents a concerning signal, currently at 91.17, suggesting a possible overdue correction. Historically, when XRP's weekly RSI reached similar levels, the token experienced a significant decline, dropping nearly 80% from November to December 2020.Additionally, decentralized finance analyst Andrei has cautioned traders against excessive leverage. He highlighted CoinGlass's funding rate heatmap, which reveals an imbalanced crypto market heavily skewed towards long positions. Currently, XRP long position traders are required to pay short-sellers a 66% annual percentage rate (APR) funding rate, indicating a potential long squeeze that could drive XRP's price downward.Despite these warning signs, XRP may still find the momentum to continue its upward trajectory, as it has done in the past. However, the inherent volatility and unpredictability of cryptocurrencies necessitate caution from traders and investors navigating this turbulent market.

According to CoinDesk, a recent governance vote has significantly reduced the minimum fees required to open an account on the XRP Ledger (XRPL), the network utilizing XRP, by 90%. This decision comes during a period of substantial price increases for the major cryptocurrency token.Network validator @aesthetes_art confirmed the change in a social media post, stating, "Together with other UNL Validators, we’ve voted to reduce the #XRPL Reserves." As a result, it is now ten times cheaper to begin operations on the XRPL. The account reserve requirement has been lowered from 10 XRP to 1 XRP, while the fees for creating trust lines or objects have decreased from 2 XRP to 0.2 XRP.Account activation on the XRP Ledger involves making an account operational on the network. A reserve is the minimum amount that must be held in any XRP address to enable fund transfers. Initially, every XRP address is non-activated, meaning it cannot send or receive funds until it is activated. This mechanism is designed to prevent spam accounts by imposing a cost on creating multiple accounts.Additionally, the base reserve requirement pertains to the fee associated with owning an object on the ledger. An object can be any data element stored by the ledger, such as payment channels, escrows, offers, or transactional information.The reduction in fees coincides with a surge in account creation activity on the XRPL in recent days. Network data indicates that over 30,000 accounts were created earlier this week, a significant increase from the usual figure of under 2,000 in previous weeks.Several fundamental and regulatory developments have contributed to a more than 400% increase in XRP prices over the past 30 days. This surge has propelled XRP to become the third-largest token by market capitalization, reaching price levels not seen since early 2018.

According to Cointelegraph, the XRP Ledger has significantly reduced its base reserve requirements, lowering them from 10 XRP ($25.60) to just 1 XRP ($2.56) as of December 2. This change is expected to facilitate easier entry for new users by allowing them to fund their wallets with a smaller amount of cryptocurrency, potentially removing a barrier to adoption. Additionally, existing users can now utilize some of the XRP they previously had to keep in reserve.The adjustment in reserve requirements was implemented at 10:45 pm UTC and was announced by the pseudonymous XRP validator operator Vet. Alongside the base reserve reduction, the owner reserve has also been decreased from 2 XRP ($5.12) to 0.2 XRP ($0.51). This means users are now required to hold only 0.2 XRP per object in their accounts, which can include non-fungible tokens (NFTs), trust lines, signer lists, or owner directories. The reserve system was initially designed to prevent the ledger from growing beyond the storage capacity of nodes and to deter the creation of spam accounts with minimal XRP holdings. However, some developers have criticized the high reserve requirement, arguing that it has hindered the network's adoption.On October 16, XRP Ledger developer WietseWind announced that all nodes managed by the XRPL Labs development team had been configured to process the lower reserve requirement, enabling them to vote for the change. WietseWind acknowledged potential drawbacks, such as increased ledger activity that could challenge infrastructure capacity. However, he viewed this as a positive issue, indicating higher user engagement and activity. He expressed confidence that engineers could manage the additional network stress and develop solutions to accommodate it. Although the change was implemented on XRPL Labs nodes in October, it required a validator reset and a vote from all validators, which was completed by December 2.This development coincides with a period of rapid growth for XRP, the native coin of the XRP Ledger. Prior to Donald Trump's election as U.S. President, XRP was valued at less than a penny per coin. Since then, it has surged to $2.65, marking its highest level since February 2018. Meanwhile, Ripple Labs, the founding development team behind XRP, continues its legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC contends that XRP is a security and should have been registered accordingly, while Ripple disputes this classification. Ripple has been fined $125 million in the lawsuit but has appealed the decision.

According to Foresight News, recent data from XrpScan reveals that the RLUSD Treasury minted approximately 9.9997 million RLUSD tokens around 13 hours ago, suggesting ongoing testing of the RLUSD stablecoin.Previously, Foresight News reported that insiders have indicated the New York Department of Financial Services has communicated to Ripple its intention to approve the issuance of the RLUSD stablecoin. Ripple is planning to officially launch this stablecoin on December 4. 

According to U.Today, the debate surrounding the decentralization of Ripple and the XRP Ledger has intensified, with blockchain researcher Justin Bons criticizing the network's reliance on Unique Node Lists (UNLs). Bons argues that this reliance indicates a centralized and permissioned system, akin to a proof of authority (PoA) model, which he believes is inferior to the trustless frameworks of proof of work (PoW) and proof of stake (PoS). He claims that the Ripple Foundation exerts significant control over the network, citing dynamic changes to UNLs managed through foundation-hosted infrastructure as evidence of centralized oversight.Bons further contends that the requirement for a 90% overlap in UNL configurations to prevent forking exemplifies an exclusionary and permissioned model. He also highlights the absence of crypto-economic incentives for validators, which he sees as a flaw in the system, arguing that it lacks both decentralization and alignment with core cryptocurrency principles.In response to these criticisms, Ripple's Chief Technology Officer, David Schwartz, has offered a different perspective. Schwartz emphasizes that validators have a minimal role in determining the network's fairness or security, as their influence is limited to short-term transaction ordering. He notes that validators are not compensated and cannot unilaterally censor transactions unless supported by other participants, a rare occurrence given the system's distributed nature.Schwartz argues that unlike PoW systems, which he describes as prioritizing monetary dominance, XRP's design minimizes the potential for concentrated control. He explains that other node operators can choose to ignore nodes that do not follow the rules, and consensus automatically disregards such nodes at the network level. Schwartz also points out that decentralization involves more than just technical aspects; it includes having open transaction rules, a public ledger, and allowing users to modify and enforce system code independently. While acknowledging XRP's unique structure, Schwartz does not believe it equates to centralization.

According to U.Today, XRP has reached unprecedented risk levels, raising concerns about the sustainability of its recent explosive growth. Historically, such high-risk levels have been followed by significant market corrections. Despite the current strong momentum, indicators suggest a possible reversal rather than continued upward movement, especially without a consolidation phase.XRP recently surged to $2.161, demonstrating parabolic growth on the price chart. This upward trajectory has pushed the asset into overbought territory, surpassing typical resistance levels. The Relative Strength Index (RSI) is near its peak, indicating overextension. At these levels, sharp volatility is likely due to profit-taking and the absence of significant consolidation. Historically, strong rallies like this often lead to corrections as traders lock in profits and the market seeks a more stable price range.Technically, XRP's main support levels are at $2.00 and $1.80, which could serve as safety nets in case of a decline, offering potential entry points for buyers. However, if the rally continues and XRP breaks above $2.75 with significant volume, it could signal further gains, with $3 as a potential target. Such a scenario would require a substantial increase in market participation, which is uncertain given the current risk profile.The risk chart indicates that XRP is in a zone where market enthusiasm typically wanes, leading to corrections. Extreme risk is generally associated with greater downside vulnerability and less upside potential. Despite defying expectations during this rally, it is historically unlikely that XRP will maintain this trajectory without a cooling-off period. While caution is advised, XRP's recent performance has been remarkable. However, the risks for those entering new positions now outweigh the potential rewards. A pullback might provide a healthier setup for future movements, emphasizing the importance of risk management at this time.

According to CoinDesk, XRP has experienced a remarkable 430% increase in the past 30 days, reaching price levels not seen since 2018. This surge has caught many traders on Crypto Twitter by surprise. The upward trend began in early November, following the Republican victory in the U.S. elections, which boosted investor confidence in tokens associated with U.S. companies, including Ripple Labs, the company linked to XRP.Large holders, often referred to as 'whales,' have played a significant role in this price movement. Data from CryptoQuant indicates that whale activity, which monitors the movement of large wallets to and from exchanges, has been consistently high over the past month. This activity is significantly higher than any other period, suggesting that whales are exerting considerable influence on the market. Whales can impact the market through their buying or selling pressure, and tracking their movements can provide insights into market sentiment.For example, if there is a substantial inflow of cryptocurrency into exchanges, it might suggest that whales are preparing to sell, potentially indicating a bearish market trend. Conversely, large outflows from exchanges might suggest that whales are accumulating, which could be a bullish signal. However, such whale movements often coincide with local price peaks, as noted by CryptoQuant's contributing analyst, Woominkyu. In a recent post, Woominkyu explained that significant spikes in whale-to-exchange transactions typically align with XRP price peaks, suggesting that whales tend to sell large amounts of XRP near local or cycle tops.The latest increase in whale-to-exchange activity coincides with XRP reaching a local price of approximately $2.3. This could indicate that whales are preparing for potential profit-taking or increased market activity. Over the past 24 hours, XRP has risen by 14%, outperforming bitcoin and other major cryptocurrencies. As of Tuesday, XRP has surpassed Solana’s SOL and tether (USDT) in market capitalization, making it the third-largest token by market cap.

According to Odaily, Ripple Labs, a prominent blockchain payment company in the United States, has ramped up its testing of the RLUSD stablecoin. Data from the Ripple Stablecoin Tracker indicates that the company is conducting two simultaneous tests involving the minting and transferring of RLUSD on the XRP Ledger protocol. This marks the first disclosure of RLUSD testing for the current month.Over recent months, Ripple Labs has been actively testing RLUSD as part of its efforts to integrate into the rapidly evolving stablecoin ecosystem. The latest minting activity on the XRP Ledger is recorded at Index 146, involving a total of 9,999,700 RLUSD tokens. This development follows reports from FOX Business that the New York Department of Financial Services (NYDFS) is on the verge of approving a new stablecoin issued by Ripple for cross-border payments. Sources familiar with the matter have indicated that the NYDFS has communicated its intention to approve the product, with Ripple planning to launch it on December 4.