XRP Trading Volume Spikes, As Ripple’s RLUSD Minting Surges
Yesterday the Ripple ledger saw a surge of almost 10 million RLUSD minted, while the Ripple trading volume on Coinbase also jumped by nearly 10 thousand percent.
Ripple Expands RLUSD Adoption
Ripple Labs has taken a significant step in increasing the adoption of its stablecoin, RLUSD, by minting 9.1 million new tokens. This follows its recent cooperation with Revolut, a major London-based firm, and Zero Hash, which specializes in financial infrastructure and seamless cross-border transactions. Through these collaborations, RLUSD is now accessible to Revolut and Zero Hash customers on both the Ethereum (ETH) and XRPL networks. Earlier this year, leading exchanges like Bitstamp and Bullish integrated RLUSD, and discussions are underway to expand its availability on major platforms such as Binance and Coinbase.
XRP Trading Volume Surges on Coinbase
XRP saw an extraordinary surge in trading activity on Coinbase, with daily volume skyrocketing by approximately 10,000% to reach $438 million. This sudden spike suggests that traders are both opening and closing their XRP positions on price action and heightened market volatility. The surge reflects an increased appetite for XRP trading, as investors react to evolving market conditions and strategic developments within Ripple’s ecosystem.
Ripple Chart Daily – XRP Price Struggles Near Key Resistance
After reaching a high of $2.50, XRP pulled back by about 10% to $2.431 before stabilizing, signaling that buying interest is emerging above the $2 mark while selling pressure begins to ease. Despite this, the asset remains below the crucial 50-day Simple Moving Average (SMA), currently at $2.70, which previously acted as strong support but has now turned into resistance. If XRP can reclaim this level, it may set its sights on the psychological $3 mark. However, the coin remains relatively unchanged for the week, indicating that bullish momentum has yet to fully take hold.
XRP Ripple Live Chart
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