cryptojournalist
XRP, currently priced at $2.40, saw a sharp rise in late 2024, reaching $2.90 before retreating. With 57 billion tokens in circulation, the cryptocurrency has been riding a wave of political and ecosystem-driven excitement.
RLUSD Stablecoin’s Impact
Axelar co-founder Georgios Vlachos predicts the RLUSD stablecoin will drive XRP demand in 2025. Axelar connects XRPL to 70 other blockchains, enabling RLUSD transactions to settle on XRPL and its EVM sidechain.
Stablecoins like RLUSD are widely used for payments and savings, especially in developing countries. These transactions require XRP for gas fees, burning a small amount with each use, which supports XRP’s value.
Factors Fueling XRP’s Surge
Regulatory Optimism: Donald Trump’s pro-crypto stance boosted market confidence following his election victory.
ETF Proposals: Firms like WisdomTree and Bitwise have filed for XRP-based ETFs, signaling growing institutional interest.
Market Position: XRP surpassed Solana to become the fourth-largest cryptocurrency by market cap at $138 billion, just behind Tether.
RLUSD Approval Details
Ripple’s RLUSD stablecoin, approved by NYDFS on December 10, is backed by cash reserves and U.S. Treasury bills, ensuring a 1:1 peg to the U.S. dollar.
