Ripple USD

Bitcoin

Pepe Unchained

XRP surged over 6% in the last 24 hours after Ripple CEO Brad Garlinghouse announced the company’s RLUSD stablecoin received regulatory approval from the New York State Department of Financial Services (NYDFS).
“This just in…we have final approval from NYDFS for RLUSD! Exchange and partner listings will be live soon,” Garlinghouse said in a Dec. 10 X <a href="https://x.com/bgarlinghouse/status/1866571228464460215" rel="noopener noreferrer nofollow">post</a>.
<img decoding="async" src="https://news.ayozat.com/images/20240624054203_original_19.webp" alt="Bitcoin, Ethereum, and Ripple Poised for Upside">
<h2 id="span-style-font-weight-400-xrp-outperforms-bitcoin-and-ethereum-span">XRP Outperforms Bitcoin And Ethereum</h2>
With the recent gain, XRP managed to outperform crypto market leaders Bitcoin (BTC) and Ethereum (ETH) in the last 24 hours as well. Leading crypto BTC only experienced a minor uptick in price during the same period, while ETH saw its price drop over 2%.
<a href="https://insidebitcoins.com/news/top-cryptocurrencies-to-buy-now-december-2-layerzero-gnosis-xrp" rel="noopener noreferrer nofollow">XRP</a> reached a 24-hour high of $2.41 after dropping to an intraday-low of $1.91. It has since retraced slightly to trade at $2.30 as of 2:55 a.m. EST. The gain posted throughout the past trading day also added to the crypto’s positive monthly streak. As a result, the crypto is up more than 299% over the past 30 days.
<h2 id="span-style-font-weight-400-rlusd-could-reach-a-market-cap-of-2-trillion-by-2028-span">RLUSD Could Reach A Market Cap Of $2 Trillion By 2028</h2>
Ripple announced its plans to launch its own stablecoin back in April, aiming to compete with Tether (USDT) and Circle (USDC). Executives at the company have predicted that RLUSD could reach a capitalization of $2 trillion by 2028, which is currently more than BTC’s valuation of just over $1.93 trillion.
<a href="https://insidebitcoins.com/news/ripple-ceo-brad-garlinghouse-says-rlusd-stablecoin-is-only-weeks-from-launch" rel="noopener noreferrer nofollow">RLUSD</a> will also be pegged 1:1 with the US dollar, similar to USDT and USDC. Ripple said in April that its reserves will comprise USD deposits, short-term US Treasury bonds as well as “other cash equivalents.”
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Testing, testing…RLUSD! We’re excited to share that Ripple USD (RLUSD) is now in private beta on XRP Ledger and Ethereum mainnet. RLUSD has not yet received regulatory approval and therefore is not available for purchase or trading – please be cautious of scammers who claim they…
 — Ripple (@Ripple) <a href="https://twitter.com/Ripple/status/1821942246939488574?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 9, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
In August, the company began testing for the RLUSD stablecoin on the XRP ledger and Ethereum mainnets. Ripple has also since announced partnerships with exchanges including Bitstamp, Uphold, Bitso, Independent Reserve, Moonpay, CoinMENA and Bullish.
<h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
<ul>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/pepe-layer-2-meme-coin-pepe-unchained-soars-44-on-launch-pepu-price-targets-1-billion-market-cap-moonshot" rel="noopener noreferrer nofollow">Pepe Layer 2 Meme Coin Pepe Unchained Soars 44% On Launch</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/new-willow-quantum-computing-chip-not-yet-a-threat-to-crypto-says-former-google-product-manager" rel="noopener noreferrer nofollow">New Willow Quantum Computing Chip Not Yet A Threat To Crypto</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/new-cryptocurrency-releases-listings-presales-today-bugscoin-gold-reserve-wall-street-pepe" rel="noopener noreferrer nofollow">New Cryptocurrency Releases, Listings, &amp; Presales Today</a></li>
</ul>

XRP Surges 6% As Ripple CEO Brad Garlinghouse Says RLUSD Stablecoin Is Approved

Table of Contents

Inside Bitcoins

Other articles published on Dec 11, 2024

Netflix Stock Hits Record High as JPMorgan Raises Price Target to $1,010

Optimism Boosts Ethereum with Innovative Solutions

Microsoft Could Add $4.9T by 2034 with Bitcoin, Claims Michael Saylor

Ripple CEO Critiques 60 Minutes for Neglecting Key XRP Details

Google pushes to break Microsoft’s exclusive hold on OpenAI

Ethereum Could Surge to $8,400 as Analysts Highlight Crucial Market Trends

Join our free newsletter for daily crypto updates!