Ripple's stablecoin, RLUSD, has seen a significant surge in trading volume, jumping 129% to $49.55 million in 24 hours, according to CoinMarketCap data. This increase in demand for RLUSD could positively influence #XRP by enhancing its utility and potentially reducing its circulating supply through transaction fee burns. The stablecoin's market capitalization has reached $1.33 billion since its launch in December 2024.
The surge in RLUSD trading volume may signal growing market interest and adoption, which could benefit $XRP . As transaction fees on the XRP Ledger are paid in XRP and get burned, more activity means lower supply and potential upward pressure on price .
*XRP Current Price:* $1.93, with a 24-hour decline of 2.55%
*Key Factors Affecting XRP Price:*
- *Resistance Levels:* $1.84, $2.07, $2.24, and $2.42
- *Support Levels:* $1.76 and $1.40
- *Market Sentiment:* Caution is advised due to mixed momentum signals and weak trend strength
*Potential Impact of RLUSD on XRP:*
- Increased demand for RLUSD could drive XRP demand for liquidity
- Burning of XRP transaction fees could reduce circulating supply and support price
- Growing adoption of RLUSD may attract more institutional interest in the Ripple ecosystem
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