Without a stablecoin, Ripple risked being sidelined in the race for crypto supremacy. This is why the company launched RLUSD, a stablecoin backed by the US dollar. Good pick: trading volumes are exploding, showing a spectacular increase of 106% in 24 hours. This boom is accompanied by a marked craze on exchange platforms. Decryption of an announced success and its ramifications in the world of altcoins.
RLUSD volumes on Ripple are making waves
Ripple has clearly found his secret weapon: the RLUSDa stablecoin backed 1:1 to the US dollar, is booming. According to CoinMarketCapthe latter recorded a trading volume of $39 million in just 24 hours, mainly thanks to the pairs RLUSD/USDC (55.02%), BTC/RLUSD (23.15%), and XRP/RLUSD (12%).
A brilliant strategy: Ripple deploys its RLUSD on flagship networks like XRP Ledger and Ethereum. The objective? Multiply use cases:
- Fast cross-border payments;
- Decentralized banking solutions;
- Intensive trading on exchanges like Bullish and Independent Reserve.
Basically, RLUSD proves that Ripple can compete with the stablecoin giants. In terms of diversification, Ripple thus offers itself an enviable place in modern financial markets.
A crypto strategy that is emulated
Since December 17RLUSD has landed on renowned platforms: Uphold, MoonPay and Bitso. But it was the launch on Bullish and Independent Reserve that really made an impact, allowing transactions in several currencies: XRP, SOL, ETH, and even the euro.
This success highlights a major trend: stablecoins are no longer tools solely dedicated to trading. Ripple seems aim for a complete ecosystem: payments, decentralized finance, and much more. The crypto-firm thus wishes to strengthen its hold on the markets while boosting the XRP price.
A dynamic that could inspire other actors to follow this path.
We remember that in just 24 hours, Ripple's RLUSD literally set the crypto market on fire, generating a spectacular trading volume of $1.5 billion. A dazzling start which suggests a promising future for this stablecoin.
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