Ripple is experiencing a huge rise with the new stabilcoin Rlusd. Since April 1, over $ 100 million has been supplied. This stands out as one of the biggest supply increases in recent months with the increasing demand and adoption between payment providers and businesses.
Ripple focuses on rlusd
At the beginning of the week, Ripple exported Rlusd worth $ 50 million on Tuesday, and on Wednesday, another $ 50 million increased a total of $ 100 million. This increase in supply came after Ripple integrated Rlusd into the official payment system, thus making it more useful to use for businesses and financial institutions. Popular payment providers such as BKK Forex and İsend began to use Rlusd in their transactions, which further increased the adoption of Stabilcoin.
Crypto analysis experts believe that Rlusd can be a strong competitor to leading Stabilcoins such as TETHER (USDT) and USD Coin (USDC). Former Binance CEO Changpeng Zhao said that some people see this as the “Stabilcoin War ,, but in fact it is a sign of a healthy competition that will create more innovation in the market.
How does Rlusd provide stability and security?
Rlusd is supported by the US dollar at a ratio of 1: 1 and traded on XRP Ledger and Ethereum. Stabilcoin is completely supported by dollar deposits, short -term US treasury bills and cash -like assets, thus providing strong liquidity and stability. Users can deposit dollars to reliable partners to create rlusd or back to their tokens in exchange for cash. The system tries to balance market forces and the price:
- If Rlusd falls below $ 1, the traders buy it and take it back to the nominal value, which increases the demand.
- If Rlusd rises above $ 1, more token is supplied and the supply is balanced.
For corporate investors, Rlusd also offers extra security measures. The newly introduced “Clawback” feature enables the tokens to be withdrawn in fraud, illegal activities or incorrect transfer situations.
Rlusd will be available in Kraken
Released in December 2024, Rlusd gained a strong acceleration and reached a market capitalization of approximately $ 250 million and reached a transaction volume exceeding $ 10 billion. Stabilcoin, LMAX Digital, Zero Hash, Bitstamp and Bullish are supported by important partners. Recently, Rlusd has started to be traded in Kraken, one of the crypto currency exchanges, which increases accessibility for retail investors.
Despite the success of Rlusd, Ripple’s local Token XRP has a 5 %decline after President Donald Trump announced that it would bring new tariffs to all international trade partners. This decrease deleted the earnings of XRP after the Rlusd integration, while showing how global economic policies can affect crypto markets. The XRP is currently trading at $ 2.05 and has experienced more than 2 %loss in the last 24 hours. Analysts say that ongoing geopolitical developments may continue to affect the price of XRP in the coming weeks.
