Cryptonews - Ripple (XRP) has recently posted notable gains as Bitcoin's price has stabilized relatively, could this be the start of altcoin season? Despite Bitcoin's recent decline after hitting a new high of $108,000, Ripple (XRP) continues to provide gains for its investors. Analysts believe that the divergence in the performance of these two currencies could be an early sign of the start of the so-called altcoin season, one of the waves of the cryptocurrency bull market. Cryptocurrency prices, with the exception of BTC, usually see strong gains after the latter goes through a strong wave of increases.
According to CoinMarketCap, XRP has seen a strong 54.7% gain over the past 30 days, pushing it to fourth place in the list of the highest digital assets by market cap, while Bitcoin’s price has remained relatively stable around $98,075 over the same period. Perhaps one of the most prominent reasons for these gains is Ripple Labs’ launch of the new stablecoin RLUSD and its listing on leading trading platforms. The project announced on Christmas Eve that it would be listed on Bullish across multiple trading pairs – such as BTC/RLUSD and ETH/RLUSD – following similar announcements from other trading platforms, such as CoinMENA, Bitso, and Uphold.
“With over 10 years of experience in the industry, we have followed the necessary regulatory procedures and compliance to issue stablecoins as a company that strictly adheres to the New York State Financial Services Authority (NYDFS) laws,” said Ripple CEO Monica Long, referring to the prospects of the stablecoin. “We have assembled an experienced advisory board to launch RLUSD, with a focus from day one on providing credibility, functionality, and a broad range of partners ready to support it.”