Well now, gather ‘round, folks, and let me spin you a yarn about the Ripple USD (RLUSD) stablecoin, which done up and doubled its 24-hour trading volume faster than a cat on a hot tin roof. Why, you ask? Seems the Ripple folks have been busier than a mosquito at a nudist colony, stirring up all sorts of commotion in their ecosystem, and that’s got folks flocking to RLUSD like it’s the last lemonade stand in July.
Ripple USD Stablecoin Volume Surges Over 100%, Here’s Why
According to them number crunchers over at CoinMarketCap, RLUSD’s volume shot up by a whopping 120% in just one day. That’s more action than a riverboat on payday! Not too shabby for a coin that only showed up to the party last December and already boasts a market cap near $300 million. I reckon that’s more zeros than I’ve seen on my last three report cards combined.
Now, what’s behind this hullabaloo? Well, seems Ripple went and bought themselves a fancy new toy—a prime broker called Hidden Road—for a cool $1.25 billion. That’s billion with a “B,” mind you. After the news broke, Ripple started crowing about how this would make RLUSD the “enterprise-grade USD-backed stablecoin with real utility.” I don’t know about you, but that sounds like something you’d hear from a fella trying to sell you a bridge in Brooklyn. Still, the prime broker’s planning to use RLUSD as collateral, which is a mighty fine way to get folks’ attention.
Of course, the ink ain’t dry yet—regulators still have to give it the old thumbs up. But that hasn’t stopped RLUSD from getting more popular than free pie at a church picnic. Another reason for the surge? Ripple’s gone and plugged RLUSD into their payment service, making it easier for businesses to send money faster than you can say “show me the money.”
As reported by CoinGape (which I assume is not a fishing magazine), Ripple’s cross-border payment service now features RLUSD, setting it up for even more enterprise adoption. With Ripple’s payment service booming—despite the SEC lawsuit nipping at their heels—the stablecoin’s future looks brighter than a gold nugget in a prospector’s pan.
But wait, there’s more! RLUSD got itself listed on Kraken, one of the top crypto exchanges. Earlier this month, Kraken announced that RLUSD is now open for trading, with deposits and withdrawals ready to roll. That’s like being invited to the grown-ups’ table at Thanksgiving. Traders are now pairing RLUSD with all sorts of crypto assets, and the volume’s swelling up like a river after a rainstorm.
And let’s not forget, all this excitement is giving XRP a nice little boost, too. More RLUSD volume means more capital flowing into the XRP Ledger (XRPL), which is where XRP hangs its hat. So, if you’re holding XRP, you might just want to tip your hat to RLUSD and say, “Thanks for the ride, partner!” 🤠
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2025-04-14 20:46