XRP falls 5%, while RLUSD stablecoin surges amid USDT regulatory concerns

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Against the backdrop of regulatory uncertainty surrounding Tether (USDT), Ripple’s RLUSD stablecoin has seen a surge in trading volume.

RLUSD Volume Growth

USDT faces compliance challenges under the MiCA regulation, driving the adoption of RLUSD as a compliant alternative. RLUSD has seen a massive 170% increase in trading volume over the past 24 hours, with its market cap also rising to $53 million. The EU’s MiCA regulation raises the possibility of USDT being delisted from European exchanges, opening the door for RLUSD.

Key Factors

One of the main drivers of RLUSD’s rise is the regulatory uncertainty surrounding Tether. Ripple’s continued integration of RLUSD into its financial ecosystem has enhanced its adoption. Regulatory approvals have further bolstered confidence in the long-term stability of RLUSD. RLUSD is pegged to the U.S. dollar, providing investors with a safe option.

Market reaction

While the price of Ripple’s native token XRP fell 5% to trade at $2.08, its trading volume increased significantly by 64%. Analysts are optimistic about the future of XRP, and the integration of RLUSD with the XRP ledger enhances the liquidity and utility of the token.

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