Stablecoin

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ripples-new-stablecoin-launch-impacts-xrp-prices/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ripple’s New Stablecoin Launch Impacts XRP Prices</a><br></p>
<p style="text-align: justify">The <a href="https://en.coin-turk.com/bitcoin-falls-below-57000-after-u-s-market-opens/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/positive-development-in-the-crypto-market-surge-in-stablecoin-market-value/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market has concluded its recent upward trend with a significant correction. Following the launch of Ripple’s RLUSD stablecoin, the price of XRP dropped by 15%. Traders are trying to understand the reasons behind this decline.</p>
<h2 style="text-align: justify" id="the-role-of-rlusd-launch-in-xrp-s-decline">The Role of RLUSD Launch in XRP’s Decline</h2>
<p style="text-align: justify">Ripple launched its stablecoin, RLUSD, on December 17. This launch initially caused XRP’s price to surge to $2.8 on the day of the launch. However, shortly after this spike, the price sharply retreated. Market participants attribute this volatility to both the post-launch market reaction and broader economic developments.</p>
<p style="text-align: justify">The Federal Reserve’s decision to lower interest rates by 25 basis points has increased pressure on the cryptocurrency market. Assets like XRP exhibited downward movement following this announcement. Market expert Ali commented, “The Fed’s rate cut was expected, but Bitcoin and other assets fell sharply. This highlights the weak structure of the market.”</p>
<h2 style="text-align: justify" id="whale-activity-increases-interest-in-xrp">Whale Activity Increases Interest in XRP</h2>
<p style="text-align: justify">Following the price drop, there has been a significant increase in whale transactions involving XRP. Large investors executing trades over $1 million took this opportunity to accumulate XRP. The Ripple network has seen similar whale activities during prior corrections on December 10 and December 2.</p>
<p style="text-align: justify">As of December 19, XRP is trading at $2.37. Analysts suggest that the price may test the critical support level at $2.3. If this support breaks, a decline towards $2 seems probable. However, if market conditions change and the RSI rises above 50, a rebound in XRP’s price could be anticipated.</p>
<p style="text-align: justify">Ripple’s RLUSD stablecoin move highlights the sensitive balance within the market. While whale purchases reflect long-term investors’ confidence in XRP, short-term market fluctuations continue to raise concerns.</p>
<p>The post <a href="https://en.coin-turk.com/ripples-new-stablecoin-launch-impacts-xrp-prices/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ripple’s New Stablecoin Launch Impacts XRP Prices</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Ripple’s New Stablecoin Launch Impacts XRP Prices

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