Ripple’s RLUSD Skyrockets 136% In Volume as XRP Bullish Momentum Holds
The post Ripple’s RLUSD Skyrockets 136% In Volume as XRP Bullish Momentum Holds appeared on BitcoinEthereumNews.com. As the broader cryptocurrency market witnessed a bullish rally, Ripple USD stablecoin (RLUSD) has also registered a spike in trading activities. The upsurge aligns with the general breakout in the crypto sector as most assets experience a rally. Ripple’s RLUSD Stablecoin Sees Spike in Adoption According to CoinMarketCap data, RLUSD soared 136% in transaction volume within the last 24 hours. As the asset gains traction, the development signals increased stablecoin adoption in the broader digital currency market. The bullish breakout in the market could have triggered the spike as investors seek stablecoin to acquire more assets. This development makes the spike in volume significant, given that RLUSD is a relatively new entrant into the stablecoin market dominated by Tether (USDT) and Circle (USDC). However, RLUSD’s determination to make an impression in the stablecoin market is paying off, and users are embracing the token. Gemini, the U.S.-based crypto exchange, has added RLUSD to its trading listing in a notable achievement that signals increased adoption. Gemini’s addition of RLUSD increases its reach to users in the region. Other exchanges that have supported RLUSD include MoonPay, Uphold, Bitstamp, and LMax Digital. SEC Lowers Penalty to $50 Million Meanwhile, XRP, another asset within the Ripple ecosystem, has also recorded significant growth in the broader crypto market. In the last 24 hours, XRP price surged by over 5%, climbing from $2.23 to as high as $2.43 before witnessing a correction. As of this writing, XRP was changing hands at $2.35. Within the same period, its trading volume has seen a massive 72.08% uptick to $6.91 billion. The upward movement followed the Securities and Exchange Commission’s (SEC) agreement to reduce the fine against Ripple to $50 million. Judge Analisa Torres had ordered Ripple to pay a $125 million fine last year. Still, under the new settlement,…
The post Ripple’s RLUSD Skyrockets 136% In Volume as XRP Bullish Momentum Holds appeared on BitcoinEthereumNews.com.
As the broader cryptocurrency market witnessed a bullish rally, Ripple USD stablecoin (RLUSD) has also registered a spike in trading activities. The upsurge aligns with the general breakout in the crypto sector as most assets experience a rally. Ripple’s RLUSD Stablecoin Sees Spike in Adoption According to CoinMarketCap data, RLUSD soared 136% in transaction volume within the last 24 hours. As the asset gains traction, the development signals increased stablecoin adoption in the broader digital currency market. The bullish breakout in the market could have triggered the spike as investors seek stablecoin to acquire more assets. This development makes the spike in volume significant, given that RLUSD is a relatively new entrant into the stablecoin market dominated by Tether (USDT) and Circle (USDC). However, RLUSD’s determination to make an impression in the stablecoin market is paying off, and users are embracing the token. Gemini, the U.S.-based crypto exchange, has added RLUSD to its trading listing in a notable achievement that signals increased adoption. Gemini’s addition of RLUSD increases its reach to users in the region. Other exchanges that have supported RLUSD include MoonPay, Uphold, Bitstamp, and LMax Digital. SEC Lowers Penalty to $50 Million Meanwhile, XRP, another asset within the Ripple ecosystem, has also recorded significant growth in the broader crypto market. In the last 24 hours, XRP price surged by over 5%, climbing from $2.23 to as high as $2.43 before witnessing a correction. As of this writing, XRP was changing hands at $2.35. Within the same period, its trading volume has seen a massive 72.08% uptick to $6.91 billion. The upward movement followed the Securities and Exchange Commission’s (SEC) agreement to reduce the fine against Ripple to $50 million. Judge Analisa Torres had ordered Ripple to pay a $125 million fine last year. Still, under the new settlement,…
What's Your Reaction?
