Altcoins News
By Steven Anderson
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Ripple’s native stablecoin, RLUSD, has been making waves in the cryptocurrency space as it hits a significant milestone.
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RLUSD, a regulated stablecoin built on Ripple’s XRP Ledger (XRPL), has shown impressive growth. According to CryptoQuant, the total supply of RLUSD has surged to $120 million.
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The shift in preference from Ethereum to XRPL can be attributed to the lower transaction fees associated with Ripple's ledger.
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The growth of RLUSD is a notable milestone for the regulated stablecoin market, especially as it shows the increasing acceptance of Ripple's ecosystem within the broader crypto…
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The success of RLUSD is closely linked to the performance of XRP, as both are interconnected within the XRP Ledger ecosystem.
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Ripple’s XRP token has experienced a surge in adoption, which has been reflected in the increase in total XRP wallet addresses.
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In addition to this, XRP’s decentralized exchange (DEX) liquidity has hit a monthly high of $24.2 billion.
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As both RLUSD and XRP see increased adoption, Ripple’s ecosystem is well-positioned for further growth.
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Moreover, the reciprocal relationship between RLUSD’s growth and XRP adoption means that the continued success of RLUSD will likely drive further demand for XRP.
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In conclusion, RLUSD’s rapid growth to $120 million in total supply is a clear indicator of Ripple’s increasing influence in the cryptocurrency space.
The Currency Analytics
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