Date: Mon, Dec 16, 2024, 04:09 PM GMTIn the cryptocurrency market, XRP has seen a sharp over 8% price jump within the last hour, following significant news about Ripple’s upcoming stablecoin launch.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/ccbc71f3758c4dc1bc29b2f11ef31dc4.png" />Source: CoinmarketcapAccording to <a href="https://www.coindesk.com/business/2024/12/16/ripple-to-roll-out-rlusd-stablecoin-on-dec-17-adds-former-central-bankers-to-advisory-board?utm_term&#61;organic&amp;utm_source&#61;twitter&amp;utm_campaign&#61;coindesk_main&amp;utm_medium&#61;social&amp;utm_content&#61;editorial" rel="noopener noreferrer nofollow">reports </a>from CoinDesk and Watcher Guru, Ripple has confirmed that its much-anticipated RLUSD stablecoin will officially roll out on Tuesday, Dec. 17, following regulatory approval.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/e7a568c3065e4695aeac4eca9222dd58.png" />Source: &#64;WatcherGuru (X)Ripple’s RLUSD stablecoin is fully backed by U.S. dollar deposits, government bonds, and cash equivalents, ensuring a stable value of $1. After receiving final approval from the New York Department of Financial Services (NYDFS) last week, Ripple is ready to move RLUSD from its testing phase to public access.Initially, RLUSD will be available on platforms like Uphold, MoonPay, Archax, and CoinMENA, with additional listings on popular exchanges such as Bitso, Bitstamp, Mercado Bitcoin, and others in the coming weeks. Ripple’s CEO, Brad Garlinghouse, hailed this as a major milestone for the company’s growth in the stablecoin market.<h3 id="xrp-price-action">XRP Price Action:</h3><img src="https://academy-public.coinmarketcap.com/optimized-uploads/207a7af4b1284b18b79cf041e8e2d64c.png" />Following the news, XRP is now trading at $2.57 breaking out of its falling wedge pattern by crossing the $2.45 resistance level.Following confirmation of breakout at $2.53 this breakout, XRP is moving towards the next resistance levels of $2.65 and $2.91—a increase of 14% from the current price.However, We may see a slight retest around the $2.53 level before next upside move.<h3 id="strong-final-thoughts-strong">Final Thoughts</h3>With Ripple’s RLUSD stablecoin debuting tomorrow, the crypto community will be closely watching XRP’s performance. The token has the potential to ride this wave of optimism, but as always, market conditions remain volatile.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/bitget-token-bgb-gains-momentum-ahead-of-key-breakout-are-more-gains-ahead/" rel="noopener noreferrer nofollow">Bitget Token (BGB) Gains Momentum Ahead Of Key Breakout: Are More Gains Ahead?</a>

XRP Sparks As Ripple Gears Up To Launch RLUSD Stablecoin On Dec 17: Is A Rally Ahead?

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