Earlier, the Ripple USD stablecoin (RLUSD) recorded a surge of up to 33% in trading volume. This suggests that investors and traders are significantly engaging with the two-month-old stablecoin.
Ripple Stablecoin RLUSD Statistics
Amid the broad fluctuations in the crypto market, at the time of this writing, the trading volume of RLUSD recorded a 33.24% increase.
According to CoinMarketCap data, the Ripple stablecoin now has a 24-hour trading volume of $266.57 million.
Per the growth rate, the crypto sector is seeing growing interest in and adopting RLUSD. This also proves the stability and growing utility of the stablecoin, among other factors.
In January, the New York Department of Financial Services (NYDFS)-regulated stablecoin saw several capital inflows from whales into RLUSD.
Data from the Ethereum network confirmed that tiny transactions are less common, while transfers worth over $100,000 keep getting more frequent. On January 7 and January 15, RLUSD moves of over $100,000 were observed.
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This is a show of increasing whale activity. The increasing use of RLUSD in diverse financial activities reflects its role in more extensive OTC trading, liquidity boost, or role payment processing.
RLUSD Fuels Liquidity Boost for XRP
The increasing adoption and growth of RLUSD could be good for XRP. However, some in the community believe the Ripple stablecoin could outcompete XRP as a payment asset.
By leveraging the XRP Ledger, RLUSD holders are promised reduced volatility, which is usually associated with interacting with digital assets.
With such features, these users, including institutional investors, would be more inclined to perform a large percentage of their transactions with RLUSD.
This use case may lead to more cases of XRP being shoved to the side. However, adopting RLUSD might imply more investors in the community can participate in XRP-based DeFi transactions. This is a positive boost for XRP.
In the meantime, the news of the surge in RLUSD trading volume has had no positive impact on the price of XRP. Currently, the price of XRP was $2.53 at the time of writing, down by 5.04% in 24 hours.
Analysts are projecting a potential boost for the digital currency, but first, XRP must breach certain resistance levels.
On Monday, crypto Analyst Dom noted that the XRP price encountered strong resistance within the $3.15 to $3.50 range. This will ultimately keep it from breaking out in the long run.
RLUSD Stablecoin Expansion Trend
Meanwhile, RLUSD is still gaining recognition from several quarters in the industry. This is evident in the growing number of stablecoin exchanges.
Last month, Ripple partnered with Chainlink (LINK) to integrate RLUSD stablecoin pricing data on-chain. Ultimately, this was all part of the San Francisco-based blockchain payment firm’s strategy to enhance the utility and adoption of the stablecoin.
It also solidifies its position in Decentralized Finance (DeFi) markets.
Around the same time, Cardano founder Charles Hoskinson confirmed that talks are underway with Ripple about integrating the company’s newly launched stablecoin into the Cardano ecosystem.
“We’ve already had a call with the RLUSD people. We are actively talking,” Hoskinson stated, suggesting the potential for a future collaboration.
Apart from being on Uphold, Bitso, and CoinMENA, RLUSD trades on Zero Hash and Revolut platforms.
Source: https://www.thecoinrepublic.com/2025/02/19/ripple-usd-rlusd-volume-explodes-33-heres-possible-impact/