Ripple's RLUSD Hits $120M Supply Milestone
Ripple's RLUSD stablecoin has reached a significant milestone, achieving a total supply of $120,000,000 just two months after its launch. This rapid growth demonstrates increasing adoption and utility across various sectors. RLUSD, launched on both Ethereum and the XRP Ledger (XRPL), is attracting attention for its potential.
RLUSD Stablecoin Adoption
Blockchain analytics platform CryptoQuant reported this milestone, referencing a post by researcher JA Maartunn. While RLUSD initially saw strong growth on Ethereum, it has recently shifted momentum towards the XRPL, likely due to lower transaction fees. This is supported by its recent listing on Margex and Zero Hash, plus its availability on Revolut, further propelling its mainstream adoption.
RLUSD's Performance on XRPL and Ethereum
Ripple began test minting RLUSD on Ethereum and XRPL in August 2023. The XRPL now holds approximately 37.4 million RLUSD, exceeding Ethereum in growth rate. Ethereum currently holds less than 83.3 million RLUSD. The $120 million total supply marks a key achievement for RLUSD and the broader Ripple ecosystem.
The XRPL's success with RLUSD is partly due to Ripple's Real-World Assets (RWA) tokenization initiatives. Several recent partnerships are driving this agenda.
Impact on XRP Price
RLUSD's growing traction on the XRPL has contributed to the stability of XRP's price. At the time of writing, XRP traded at $2.64, although it recently experienced a 3% dip. This positive development within the stablecoin ecosystem suggests potential for a longer-term price increase.
Recent analysis points to the possibility of XRP reaching $250, fueled by significant accumulation by Ripple whales. One analyst predicted this bullish rally could unfold between now and 2026.
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