Ripple Burns 185 RLUSD Tokens in Preparation for XRP Breakout to $1
đ Ripple has just completed a strategic token burn of 185 RLUSD tokens! This move reinforces Ripple's commitment to maintaining a stablecoin supply that supports its role in the market. Initially issued on August 22, RLUSD tokens are split between the XRP Ledger and Ethereum, showcasing Ripple's dedication to cross-chain interoperability. Each RLUSD token maintains a peg to the US dollar, ensuring stability in transactions.
Transparency is key for Ripple, with independent audits of RLUSD reserves planned monthly to enhance security and trust. Market response to these developments sees XRP trading around $0.5731, with analysts eyeing a potential rise above current resistance towards $1. Trading volumes have adjusted, down 32% to approximately $1.11 billion.
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