RLUST, Ripple's Stablecoin Is Approved: What Impact Will This Have on $XRP ?

The stablecoin pegged to the US dollar has received approval from the New York State Department of Financial Services (NYDFS).

What is RLUST?

Unlike regular cryptocurrencies, which are highly volatile, stablecoins are pegged to real-world assets, making them much more "stable." This coin is designed to support cross-border payments and facilitate these transfer processes. However, it’s not just for large corporations, as it will be available to users worldwide.

What impact could this have on the $XRP cryptocurrency?

Ripple Labs, the company behind XRP, also controls RLUST. After the confirmation of the license for RLUST, excitement surged among investors, pushing XRP's price up by approximately 21% from its recent low of $1.9.

Currently, XRP is trading above $2.3, and demand for the cryptocurrency is expected to grow in the coming days. What are your expectations for $XRP ?

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